If you’re looking for penny stocks to buy this week, you’ve got your work cut out for yourself. Plenty of headwinds will be faced, including more tech earnings and Friday’s speech from Fed Chair Jerome Powell. But amid the noise, there emerge new opportunities for traders.

Penny stocks are typically sought after for their inherent risk/reward makeup. This offers a unique scenario where even if the stock market is down, at least a handful of cheap stocks exploding higher.

This begs the question, “What are the best penny stocks to buy now?” The answer to this question might seem simple, but it is not as easy as you might think. The idea of “best penny stocks” to buy should also include your specific trading style. Are you a day trader looking to be in and out of a trade within a few hours? Are you a swing trader trying to time an entry for a multi-day move in penny stocks?

Maybe you are a scalper attempting to capitalize on short-term moves. On the other hand, investing in penny stocks is also an option. Though it is typically not the norm, there are stocks under $5 that go on to rise to the top over time.

Finding Penny Stocks To Buy

Your ability to find penny stocks to buy will rely heavily on the above. Determining your strengths as a trader can help to further clarify the types of stocks to watch. If you’re day trading, for example, chances are you’re not planning to stay in the same trade overnight.

On the same note, if you’re looking for penny stocks to invest in, you most likely won’t choose the ones experiencing extreme volatility or price spikes on short-term timeframes. In all cases, choosing penny stocks to buy is up to you. The first step is making a watch list to narrow down your choices.

In this list of penny stocks, we’ll look at a few of the most popular names in the stock market today. We dive into recent catalysts to determine what could be a source of the latest action. We’ll also see if there are any upcoming or future events to make a note of if these are on your list of penny stocks to watch this month.

Penny Stocks To Watch

  1. Pieris Pharmaceuticals (NASDAQ: PIRS)
  2. Opendoor Technologies (NASDAQ: OPEN)
  4. Yatsen Holding (NYSE: YSG)

Pieris Pharmaceuticals (PIRS)

Shares of Pieris Pharmaceuticals have been steadily climbing higher after bottoming out in June. The biotech stock hit new 52-week lows of $0.1616 a few days after reporting news that AstraZeneca discontinued a phase 2a trial of PRS-060/AZD1402 based on non-clinical safety findings. These findings came from a 13-week toxicology study. Pieris said the findings included “inflammation-mediated lung tissue damage” that didn’t appear to be dose-related.

Penny Stocks To Buy? 4 To Watch With Big News This Month

Fast-forward a few weeks to August, and Pieris reported a milestone achievement for Boston Pharmaceuticals’ initiation of a Phase 1/2 study of BOS-342, formerly PRS-342. The immuno-oncology antibody-Anticalin fusion protein was discovered by Pieris and licensed to Boston Pharmaceuticals. This event also led to a milestone payment of an undisclosed amount.

“Dosing of the first patient with BOS-342 represents an important milestone for the BOS-342 program and, more importantly, for patients with HCC, many of whom often do not achieve durable benefit from current available treatment regimens,” said Sophie Kornowski, CEO of Boston Pharmaceuticals. PIRS stock has climbed back nearly 100% since hitting June lows.

Opendoor Technologies (OPEN)

Residential real estate eCommerce company Opendoor continued trading higher as the penny stock maintained its recent uptrend.

Opendoor outpaced its 2022 Q2 earnings per share and topped sales estimates during a topsy-turvy real estate market. However, some downtrodden Q3 revenue guidance weighed heavier on the penny stock.

“We expect the third quarter to mark our return to positive contribution margin levels. As of quarter end, 99% of the homes we made offers on between March and June of last year were sold or under resale contract, and our new book of inventory is generating positive unit economics in what continues to be an uncertain time in the U.S. housing market,” said Carrie Wheeler, CEO of Opendoor.

There’s also attention being placed on OPEN stock’s short interest. According to the data from TD Ameritrade, the penny stock’s short float percentage sits at around 12.11%. Meanwhile, analysts at Credit Suisse updated their coverage on Opendoor this week with an Outperform rating and a $7 price target.


Though shares of AMTD IDEA Group have been quiet the last few months, news this week may have helped stoke some momentum for the tech company’s shares. It announced a $20 million share repurchase program that will last until Dember 29, 2023. The plan is for AMTD IDEA Group to adopt and implement the program via purchases made “from time to time.” While there is no set plan of how much or when to repurchase, the news has stoked some excitement in the stock market today.

This news comes less than one week after AMTD Group, AMTD IDEA Group, and AMTD Digital Inc. (NYSE: HKD) jointly announced the franchisee operating the L’Officiel’s Philippines business was acquired by AMTD. Danyl Geneciran, Editor-in-Chief for L’Officiel Philippines, commented, “Times have changed in fashion publishing and L’Officiel rises to this challenge by continuing to bring value to its readers. With AMTD’s acquisition of L’Officiel Philippines, this positions the Brand not just as a fashion platform, but as a leader in the realm of modern media innovation. I look forward to being part of the AMTD family and evolving the way the team works through ideas.”

Additionally, AMTD Digital launched its own share repurchase program. The company plans on repurchasing up to $30 million. It has also set December 29, 2023, as the program’s expiration date.

Yatsen Holding (YSG)

China-based beauty group Yatsen Holding recently posted its earnings for the second quarter of 2023. The news appears to be a warm welcome after weeks of selling pressure pushed share prices lower. Yatsen posted a better EPS loss compared to Q2 of 2022. It also beat sales estimates after reporting $118.4 million versus the $114.67 estimate.

Are Green Energy Penny Stocks the Future? 3 Reasons

CEO Jinfeng Huang explained, “The beauty industry experienced a modest post-COVID recovery during the second quarter of 2023. While uncertainty in consumer demand persisted, we continued to focus on fine-tuning our business model and investing in brand building and R&D. Along with improvements in certain of our key financial and operating metrics, our strategic transformation plan remained largely on track. Furthermore, operations of the Guangzhou manufacturing hub we established with Cosmax officially commenced on August 11, enabling further optimization of our supply chain. Looking ahead to the remainder of the year, our team is devoting resources to new product launches with the goal of bringing exciting new beauty solutions to our customers.”

Against this backdrop, YSG stock made an about-face during Tuesday’s session from lows of $0.88 to highs above $1.

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like