Will These Cheap Penny Stocks Make Your List This Month?
The changing state of the world has resulted in many reopening penny stocks jumping in value. Global economies are starting to open up more as COVID-19 cases decrease. Part of the reason that cases are dropping is a result of vaccine distribution. As of April 6th, ¼ of America has received the coronavirus vaccination. This accounts for 32.4% of the population or 107.5 million Americans with at least the first of two vaccinations.
Even with this news, people like Dr. Fauci believe that masks could be recommended as far out as 2022. There is still a lot the world does not know about this virus, like mutations and variants. This places many stocks in a state of volatility, as we’ve seen for the last year. The difference now is reopening has begun to escalate.
[Learn More] What Are Penny Stocks & Should You Buy Them In 2021?
Texas has fully reopened the state, California is quickly lifting restrictions, and the same goes for many other states. As this occurs, there will be a large increase in the number of people contributing to the economy. This means getting fuel, eating, shopping, traveling, and more could begin to see an uptick.
Reopening Penny Stocks To Watch In April
Many refer to these companies as epicenter stocks, a term originally coined by Fundstrat’s Tom Lee. This involves companies that experienced mass selloff between the end of February and April of 2020. This article will focus on the companies that could or already benefit from the reopening of global economies.
Nobody knows what truly will happen with reopening at the moment. In some places, COVID cases are still rising, so we are talking about a lot of volatility. Regardless let’s take a look at 3 reopening penny stocks that can be bought for under $5. But just because they’re “cheap,” will they be worth putting on your list heading into Q2?
- Express Inc. (NYSE: EXPR)
- Centennial Resource Development Inc. (NASDAQ: CDEV)
- Ashford Hospitality Trust (NYSE: AHT)
Penny Stocks To Buy For Under $5: Express Inc.
One of the types of epicenter penny stocks that were impacted a lot were those related to retail. So it is no surprise that when March 2020 came around, EXPR stock took a nosedive. The apparel and accessory company sells products in its Express brand retail stores and online. Now in 2021, EXPR stock is rebounding strongly. This reopening stock started the year under $1. At one point in January, EXPR reached upwards of $9.55 per share.
This isn’t January anymore, so where is EXPR stock at, and what is affecting it? The retail stock seems to be receiving a boost after its fourth-quarter earnings. The company posted big gains in its results, which has caused retail traders to see potential in the company. This week, EXPR stock is up 14% so far after reaching a high of $4.56 on Tuesday.