Best Penny Stocks to Buy Now? Watch for the Right Time
Are you looking for the best stocks at a bargain price? You’re probably familiar with penny stocks. These shares are low-priced and offer traders the opportunity to make money if they can manage volatility. These shares are not for everyone, but they can be a great way to get involved in high-risk situations.
It’s easier than ever to make money in the stock exchange today. To open an account, you don’t have to sign up for a high-cost broker. It is as easy as downloading an app, transferring a few hundred dollars, and then closing the account. You can also get perks such as free stock for signing up on most platforms. To open an account, claim your shares, and then sell them for cash. The amount of cash you receive depends on which stock you “win”, but you can trade for absolutely zero out of pocket. These perks are offered by Webull and Robinhood, which are both popular platforms.
When it comes to the best penny stocks for you to buy, most likely, you are referring to stocks below $5. Perhaps you are looking for penny stocks below $1, or something in the middle. Before you jump headfirst into trading, it is important to understand how to purchase penny stocks and navigate markets in general. Once you have the basics down, you can start trading.
Also read: Top 10 Tips For Successfully Trading
Best Penny Stocks To Buy Today?
Today’s article will focus on cheap stocks trading below $5. These stocks are worth considering, but should you buy them right away or wait until they become more expensive. After you’ve seen the current trends in penny stocks, I’ll let you decide.
1. BEST Inc.
BEST Inc. is one of our top penny stocks to keep an eye on for several weeks. Although you might think this stock would be the opposite of what it is, it has actually performed against the grain for a few days. It was initially introduced as one of the stocks that had high short interest. The short float percentage at the time was 36%. BEST stock has rallied back to $1.77 since then. This move also saw BEST stock test its 200-day Moving Average (a major moving indicator) for the first time in more than a year.
BEST Inc. is a top penny stock to watch for the next few weeks. This stock may seem like it would be against the grain, but it actually has performed well for a few days. This stock was originally introduced to meet high short interest. At the time, it had a short float of 36%. Since then, BEST stock has rallied to $1.77. BEST stock also tested its 200-day Moving Average, a major indicator of moving trends, for the first time in over a year.
There’s still a month before the next round of earnings is delivered. This leaves plenty of time to speculate. BEST is a specialist in logistics and supply chain technology solutions for customers in China. As the reopening efforts continue to be made, related stocks, particularly those involved in supply chain management could be added to the watch list.
2. Tuesday Morning Corp.
We’ve been following Tuesday Morning closely since its drop. After insider activity created momentum in the penny stock, it was first brought to our attention. Its CEO, COO, and CMO bought more than 760,000 shares at an average price of $1.68 and $2.81.
After reporting disappointing earnings, TUEM stock dropped. According to Tuesday Morning’s first-quarter fiscal 2022 comparable-store sales, TUEM stock dropped after reporting weak earnings. This was a significant improvement over the same period in fiscal 2020. For fiscal 2022, the company expects to report an Adjusted EBITDA Loss.
The market has turned bullish in recent weeks, thanks to insider buying and the addition of new leadership members to its leadership team. However, there are still many big questions to be answered. Is insider trading expected to continue into October? Will TUEM stock be able to sustain the higher levels achieved in such a short time period without suffering a pullback. If TUEM is one of your penny stocks, you should be closely monitoring the volume.
3. OpGen Inc.
OpGen released positive results from its clinical trial using the Unyvero HPN panels earlier this month. This data was presented at the European Respiratory Society (ERS) and revealed that Unyvero significantly reduced inappropriate antibiotic treatment in suspected pneumonia patients by approximately 45.1%. This is the latest in a series of major developments OpGen reported since May.
OpGen continues to develop solutions that help clinicians get more information. The company offers a variety of platforms to predict potential antibiotic responses in patients with various health conditions.
This news has given the stock a significant boost since May but recent insider activity has also been beneficial in the short term. The CEO Oliver Schacht and COO Johannes Bacher each bought $15,000+ worth of OPGN stock this month. This has been one of the penny stocks you should be watching in the second half of this year, thanks to strong progress and optimism by management.
4. Bridgeline Digital
Bridgeline Digital shares surged in premarket trading on September 22nd. Although there was no obvious news, tech stocks gained momentum quickly. Bridgeline is a cloud-based marketing company that provides software to its clients.
TikaPac, an agency that specializes in marketing for the printing industry, announced earlier this month that it was able to reduce its prospecting time using Bridgeline’s WooRank software. TikaPac President Tim Roberts stated that the WooRank software’s ongoing investment is worth it. “I am able to be more productive with my audience and achieve the exact same prospecting results in half the time. ”
A higher search volume for low-float stocks could also be a factor in BLIN stock’s success right now. You can see my point by looking at the latest trends. Retail traders are actively searching for things like “short squeeze”, “meme stocks” and “low floating stocks”. BLIN, with a share count under 10,000,000 shares, is definitely falling within this category. Low float stocks can be volatile, so it is important to remember this. Because fewer shares “float” in the retail marketplace, demand, and supply metrics are increased. This means that quick moves are possible.
5. Creatd Inc.
Creatd Inc. was one of the cheapest penny stocks on the list. It also spiked on Wednesday during premarket trading hours. It focuses on content creators as well as technology that supports creator-first services. It is also the parent company for the Vocal platform.
The company’s exposure in the non-fungible token market is one of the key catalysts that has helped drive sentiment in the stock market. This topic was indeed the focus of attention this week. Created has announced the launch of its NFT art. Six works will be featured in the initial release. They will come from the OG Collection which contains more than 150k media pieces that Bob Guccione created. He was the former CEO of General Media, as well as the owner of several publications, including Penthouse and Viva, and OMNI.
Jeremy Frommer (Created’s founder and co-CEO) said that today’s announcement was part of a strategic initiative, which was first launched in April this year. We are delighted to show some of the exceptional pieces from the OG Collection at the NFT. These pieces are on display through OG Gallery, Inc., which has a licensing agreement with OG Collection, LLC.
CRTD, which is also part of this trend in low float stocks, is another example. This stock is one of the lowest float stocks you should be watching right now, with less than 14 million shares outstanding.
Penny Stocks, Low Float Stocks & More
We will see volatility today as the Fed meeting is over and Fed Chair Jerome Powell’s comments are expected. This volatility will likely impact all market segments, regardless of whether you are looking for low-float stocks, penny stocks, or cheap stocks.