Penny stocks have triggered a different reaction from different traders in the stock market today. Depending on their first experiences with these cheap stocks, they’ll likely either tell you that penny stocks are worth it or they’re a scam. But there’s another layer to this that needs to get peeled back.
That has everything to do with the process of learning how to buy penny stocks, in general. Going into this “wild West” trading style can bring just as much risk as stepping into a boxing ring with a world title fighter if you don’t have experience. Treating these cheap shares like lottery tickets isn’t the best route to take if you want consistent profitability.
Alas, I digress, but if you are just getting your feet wet, I’ll leave some links below for some extra education. Now, the topic of today: stocks to buy for under $5. One of the latest trends for traders right now is using mobile trading platforms like Webull and others. There is one problem, however. When it comes to trading low-priced stocks, OTC penny stocks are generally inaccessible. Does that mean you’re SOL if you’re a fan of using Webull for trading?
No, and there are plenty of cheap stocks to trade listed on the major Nasdaq and New York Stock Exchanges. In today’s article, we’ll take a closer look at a few of these. Some are trending with the retail trading crowd on social media sites like Reddit and Twitter. Meanwhile, others have just begun building momentum heading into the end of October. Remember, at the end of the day, just because they’re “cheap,” does it necessarily mean they’re the best penny stocks to buy right now?
List Of Penny Stocks On Webull Under $5
Some of these Webull penny stocks have taken off thanks to bullish momentum. But what’s been driving the moves? Let’s have a look under the hood to determine if these deserve a play on your list of penny stocks to watch right now.
Penny Stocks To Buy [or avoid] 1. Check-Cap Ltd (NASDAQ:CHEK)
Shares of Check-Cap (NASDAQ:CHEK) woke up in afternoon trading on October 20. Up until that point, the penny stock was relatively quiet, not trading more than 950,000 shares in a given day this month.
What Does Check-Cap Do?
The company specializes in medical diagnostics, mainly for detecting polyps before they turn into colorectal cancer. Its C-Scan product is currently in production to support a pivotal study in the U.S.
Why Is CHEK Stock On The Move?
Earlier this week, the US Patent & Trademark Office showed a new patent titled, “Position estimation of imaging capsule in gastrointestinal tract” tied to the company. While no news from the company has been released so far, the USPTO site showed the full text of the patent. With this in hand and the upcoming U.S. pivotal study, the market has responded favorably so far. As far as Webull users are concerned, Bullish…