3 Former Penny Stocks That Went Big In 2021
Why would anyone look for penny stocks to buy? Aren’t they risky? Isn’t buying a lottery ticket the same or betting on black in roulette? For anyone with a little bit of experience trading, you already know penny stocks can be incredibly lucrative if you know what you’re doing.
In this article, we’re going to take a deep dive into some of the hottest penny stocks to buy recently. They’re no longer sitting below the $5 limit, but once you’ve seen some of the catalysts behind them, you might be able to identify the next round of hot stocks to jump in the stock market.
Best Penny Stocks To Buy
Vinco Ventures Inc. (NASDAQ:BBIG)
Small-cap tech stocks have been a big focus for retail traders over the last few months. As you’ll see on this list of penny stocks, this is a solid trend. Vinco Ventures has turned heads for a few different reasons. Not only was merger news a driver, but we also saw BBIG stock gain interest from the Reddit retail community. We initially mentioned this company in January following the first rumblings of its deal-making platform.
Vinco merged with a media company, ZASH, which would ultimately lay the groundwork for the acquisition of Lomotif Private Limited, which owns the Lomotif short-form video platform. Thanks to the growing popularity of social media platforms like TikTok, any potential threat has been monitored closely. Lomotif has over 30 million monthly active users, according to Data Analysis Firm Sensor Tower.
You’ve also got another angle in Vinco’s NFT (non-fungible token) business. The company launched recording Artist Tory Lanez’s album “When It’s Dark” on its E-NFT.com platform. The album was the first to go platinum on the blockchain, with over 1,000,000 units sold.
Recent BBIG Stock News
Now that you’ve got some background, recent headlines show the media company continues growing. Vinco purchased an advertising platform, AdRizer, for $108 million. The advertising company did $37 million and expects to reach a $62 million run rate this year, according to AdRizer. The unique part about this company is that it has a trading platform specific to publishers and advertisers. With this latest addition, the focus is on Vinco’s 2021 revenue potential.
How big has BBIG stock been for traders? If you look back at the start of the year, shares were trading around $1.38. This week, the former penny stock reached highs of $7.08, and for the year’s high, BBIG stock jumped to $12.49. Based on just a year-to-date move, shares have climbed 413%, making that hypothetical $500 buy in January worth roughly $2,165 at this week’s high.
Paltalk Inc. (NASDAQ:PALT)
Another social media stock, Paltalk, did something that many retail traders hunt for each year. It made the majestic move uplisting from the Over-The-Counter exchange to the…