7 Top Penny Stocks Under $1 To Watch Before Next Week
Penny stocks are shares of companies that trade for under $5. While that may be the standard definition, it isn’t the only one if you ask retail traders. In the stock market today, most day traders will look at some of the cheapest of the bunch, the ones that can be bought for pennies on the dollar. In this article, we look at a few more of these low-priced stocks to see what traders are looking at and what may be on the horizon that could be a source of speculation.Click Here To Watch TTG Live On YouTube
Why would anyone want to buy such risky stocks? The simple answer is to capitalize on volatility. When you talk about penny stocks under $1, you’re talking about stocks capable of jumping significant percentages without seeing overall prices climb aggressively.
Case in point, any stocks under $1 need to move 10 cents or less to experience a 10% move or more. The same can’t be said for stocks like Apple or NVIDIA. Take, for instance, Akanda Corp. (NASDAQ: AKAN) on Thursday. The medical cannabis company saw its stock explode over 150% from just a 30-cent price increase. There weren’t any company-specific updates. However, FDA-related headlines regarding exploring regulatory pathways for CBD products prompted speculation about cheap marijuana stocks.
Of course, these big moves can happen quickly in either direction, which is why there’s so much risk involved in cheap stocks like these. It’s up to you to decide if the risk is worth the reward. This is an update on the list of penny stocks from our article Best Penny Stocks To Buy? 4 Under $1 To Watch In January 2023.