They say there are no style points in trading, but have you looked at penny stocks? If you find a good one (or a few), chances are you’ll feel like you hit the lotto on multiple occasions. While most stocks often decline when markets correct or enter bear territory, penny stocks can present unique upside opportunities even in overall down markets.

As speculative assets sometimes disconnected from broader equity movements, penny stocks can rally strongly. Traders willing to research thoroughly and embrace the high risk can unlock major gains even when economic pessimism dominates.

Consider Key Factors Trading Penny Stocks

When markets decline, don’t assume penny stocks will follow the same trend. Carefully evaluate fundamentals, news events, investor sentiments, and technical setups on an individual basis. The prices of some cheap stocks will certainly align with market direction, but others will buck trends completely on positive company and industry developments. An extra dash of trading momentum also doesn’t hurt.

Leverage Small Cap Stock Upside

Small-cap stocks have historically outperformed large caps coming out of recessions and market bottoms. The same logic applies to penny stocks—the tiniest companies with new innovations often see surging demand before a wider economic recovery materializes.

Rather than targeting multi-year holds, traders can capture penny stock gains in down markets by trading the volatility. Significant intraday price swings allow nimble traders to repeatedly buy pullbacks and sell rips. Even mediocre stocks make big moves daily, allowing series of smaller profitable trades. Use levels, moving averages, and momentum oscillators to time entries and exits while trading the swings.

In assessing penny stock picks, don’t overemphasize absolute price levels and instead review key risk metrics. Focus analysis on emerging names with improving fundamentals and technical setups, not just the cheapest absolute stocks. Check cash burn rates, debt profiles, and operational milestones as downside buffers alongside stop-losses. Stronger penny stocks to watch will better weather further market declines as well.

Tune Out Noise With Cheap Stocks

Economic uncertainty and conflicting recession calls can prompt irrational trading behavior, especially for penny stocks. Tune out hyperbolic market headlines that skew perceptions of actual fundamentals and trends. Stick to the tangible numbers and indicator signals by calmly assessing trading opportunities on proven metrics vs. emotion.

For investing in penny stocks as markets decline, embracing an active trading mindset becomes essential. Being comfortable taking profits more frequently allows capitalizing on the quick price spikes. Let winners ride while closely monitoring downside risks. Trading penny stocks in down markets requires separating bad picks from opportunistic winners early.

While overall market negativity prompts hesitation, low-priced stocks still offer potential thanks to the fundamental disconnect from macro trends. That means traders and investors can realize outsized potential even as indexes falter by identifying the most promising opportunities and strategically trading around risks. With this in mind, we look at a handful of “good penny stocks” to watch based on recent bullish sentiment in the stock market.

Penny Stocks To Watch

  1. Tilray Brands, Inc. (NASDAQ: TLRY)
  2. FuboTV (NYSE: FUBO)
  3. Better Choice Company Inc. (NYSEAMERICAN: BTTR)

1. Tilray Brands, Inc. (TLRY)

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Tilray Brands is a popular and well-known cannabis and consumer packaged goods company. It recently expanded its cannabis beverage portfolio and introduced a new range of cannabis-infused beverages from its brands XMG and Mollo. These brands are known for their diverse flavors and innovative cannabinoid profiles, including THC, CBG, and CBD, reshaping the cannabis beverage market with their variety and quality.

The expansion of Tilray’s beverage portfolio may attract a broader consumer base and strengthen its market position. This has sparked a positive boost to speculation and sentiment for TLRY stock. In response, Blair MacNeil, President of Tilray Canada, said, “With the success of recent introductions from other Tilray brands such as Solei and RIFF, we have firmly positioned ourselves as leaders in the cannabis beverage market. Both XMG and Mollo have consistently been top choices for Canadian consumers, and these new releases, highlighting unique cannabinoid combinations and premium formulations, underscore our dedication to providing diverse and quality brand experiences.”

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Helping support the bullish speculation is the options market today. TLRY Calls expiring this Friday at the $2 strike are lighting up the board. More than 11,000 contracts traded at the time of this update. This outpaced the Open Interest of just over 10,000 contracts.

2. FuboTV (FUBO)

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This sports-first live TV streaming platform recently partnered with Super Hi-Fi, a leader in AI-powered radio services. The two announced the launch of 10 fully branded FAST (Free Ad-Supported Streaming TV) channel radio stations. This initiative marks the first radio experience specifically created for an Over-The-Top (OTT) service, featuring a TV-first interface and tailored music programming for Fubo’s audience. The new service, named Fubo Radio, aims to enhance the streaming experience by offering a wide variety of popular music, from top hits to classic holiday favorites, leveraging the power of AI through Super Hi-Fi.

David Gandler, co-founder and CEO of Fubo, highlighted the importance of enhancing the platform’s sports-first content with additional entertainment options. He emphasized that the addition of Fubo Radio diversifies the platform’s entertainment offerings and redefines it as a comprehensive cable TV replacement for families.

The news comes after FuboTV reported its latest earnings results in November. The company saw a substantial increase in revenue, reaching $313 million, which is a 43% rise compared to the previous year. This growth was accompanied by a record number of paid subscribers in North America, totaling 1.477 million, up 20% year-over-year. The company also saw a notable increase in its average revenue per user (ARPU) in North America, which rose by 17% year-over-year to $83.51.

Based on its strong performance, FuboTV has raised its revenue and paid subscriber guidance for the full year 2023. The company now expects to end the year with total revenue between $1.319 billion and $1.324 billion.

3. Better Choice Company Inc. (BTTR)

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Better Choice is a pet health and wellness company. It provides a variety of products for dogs and cats, under the Halo brand. These include kibble, canned food, freeze-dried raw food, treats, and supplements. Their products focus on high-quality, science-based nutrition for pets​​.

This month, the company announced a significant development in collaboration with Aimia Pet HealthCo Inc. (APH). They have signed a memorandum of understanding (MOU) with KGK Science Inc. for the research and development of a GLP1 supplement for pets. This partnership is poised to address obesity and related health issues in pets. It has become a growing concern worldwide.

5 Hot Penny Stocks To Watch Today

Michael Young, Chairman of the Board of Directors at Better Choice, expressed enthusiasm about the partnership. He views the development of the GLP1 supplement as a major opportunity in the pet health industry:

“We are pleased to make progress with our R&D partners APH and KGK. We see the use of the GLP1 supplement as a significant opportunity for the pet health industry and are assembling top tier partners to help Better Choice and our brands, including Halo, become pioneers in this sector.”

With this tailwind, BTTR stock has begun trading higher heading into the new month.

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