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Are These Hot Penny Stocks A BUY Right Now?

💰 Penny stocks remain some of the most popular assets for investors to consider. This is because the potential for short-term gains can be greater when compared to blue chips. To be considered a penny stock, a company must be valued at under $5 per share. These cheap stocks allow investors to enter the market at a much lower cost than traditional blue chips.

🪙 What turns some away from penny stocks is the risk that comes with them. Stocks under $5 can move greatly throughout a given trading day. For example, it’s common to see a penny stock jump from $0.10 to $0.20, doubling in a single day. However, it’s not common to see a blue-chip jump from $100 to $200 in a single day.

📈 To help mitigate risk, investors should have an investing strategy to use alongside a trading education. Research is an essential step when investing, no matter what. The best way to secure potential profit, is to understand a company wholly. Look out for things like financial reports, filings, news, rumors, and speculation.

💵 Looking at a company’s trading volume is also important when investing in penny stocks. If volume is low, it could indicate low liquidity. This could make it difficult to buy and sell shares in a company. That is why it is imperative to look at more than just a stock price and the direction it’s going in.

☀️ Penny stocks have become a lot easier to access in 2021. As time goes on there are more penny stocks on Robinhood and other accessible brokerages than ever before. This makes it easier for retail investors to enter the world of stocks under $5.

🍏 Applications like Robinhood, WeBull, and TD Ameritrade have brought in a lot of new penny stock investors. This democratization of investing has also brought billions in capital into the stock market. With all of this in mind, let’s look at four penny stocks that you may consider for your watchlist.

Click Here And Read The Full Article: Hot Penny Stocks To Buy on Robinhood? Here’s 4 To Watch

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