Are These Cheap Penny Stocks To Buy Or Avoid?
Making money with penny stocks is something that has influenced millions of traders around the world. Thanks to big breakouts in stocks like AMC, GME, and, most recently, CEI, traders are getting a taste of just what penny stocks are capable of. The important thing to understand is that when you’re talking about cheap stocks like these, they don’t need to jump hundreds of dollars to offer massive returns.
Sure, were the epic rallies of GME and AMC stock impressive? Of course, and whenever stocks run from $4 to over $400 within a matter of months, people notice. That’s where stocks like GME have completely changed the day trading landscape.
But then you can also look at companies like Camber Energy (NYSE:CEI). Shares of CEI stock were trading at just 33 cents a few weeks ago. This week it has reached highs of $1.80. Sure, it was a move of only $1.47 (not even enough to buy a coffee). However, the percentage change was nearly 450%. Thanks to this, retail traders are fixating on a new trend in the stock market today.
This new trend involves penny stocks that can be bought for under $1. Some may qualify these as “true” penny stocks because they’re trading for pennies. Whatever you want to define them as is up to you. Today, we’re looking at 3 more penny stocks to add to the list we started here: 4 Cheap Penny Stocks To Buy On Robinhood For Under $1 Right Now.
Robinhood Penny Stocks To Buy For Under $1
What’s so “special” about “Robinhood penny stocks” right now? In reality, these are simply shares of companies listed on the Nasdaq and NYSE. The idea came about when mobile-first platforms like Robinhood and Webull restricted access to OTC penny stocks (with few exceptions). Furthermore, the instance of finding stocks under $1 on these platforms is unique.
Both Nasdaq and NYSE require companies to maintain minimum bid prices of $1. Trading below that threshold for too long runs the risk of getting delisted. This is why stocks fitting this interesting mold remain some of the more heavily sought after right now; CEI was one of them. Here are 3 more that have started gaining attention right now.
Penny Stocks To Buy [or avoid] 7. Sesen Bio Inc. (NASDAQ:SESN)
Sesen Bio was one of the darlings of the small-cap space for months. Since the beginning of 2021, SESN stock had managed to climb consistently higher from under $2 to over $6 at one point. The anticipation leading up to August’s FDA decision date was the core focus for traders. This is when the company’s Vicineum Biologics License Application for the drug in treating bladder cancer would have its day in the sun, or so some thought. Last month the FDA determined that it couldn’t approve the Applications its present form providing recommendations specific to additional clinical data. This ultimately triggered a mass exit in the stock, with SESN dropping below $1 for the first time…