Blockchain Penny Stocks Are Back As Crypto Rises in Value
The recent market correction with both penny stocks and blue chips, presents investors with an interesting opportunity. This is the case with cryptocurrency and penny stocks and the companies that work between these two industries right now. While penny stocks are seeing more momentum right now, investors should make sure they understand the current state of the market.
The market has always worked in cycles, where some months see highs and others see lows. Itâs worth noting that this natural flow of the stock market is something that can occur with little to no notice.
Elys Game Technology Corp. (NASDAQ: ELYS)Penny Stocks To Buy [According To B. Riley]: New York Mortgage Trust Inc. (NASDAQ: NYMT)
This week B. Riley Securities initiated coverage on New York Mortgage Trust. You may recall this firm from other articles this week. Analysts at B. Riley recently reiterated a Buy and $21 target on one of the former biotech penny stocks weâve discussed in the past. Needless to say, when it comes to New York Mortgage, B. Riley analysts issued a Buy on the company along with a $6 price target. based on its current trading levels, that would mean a proposed rise of over 30%. Whether or not it ultimately reaches that level is yet to be seen.
Robinhood Penny Stocks To Watch Right Now
One of the most popular platforms for trading penny stocks is Robinhood. Thereâs really no getting around it. Even in light of the technical issues, the lack of access to things like OTC penny stocks, and the questionable events thatâve come about recently, itâs still the top dog among retail trading apps.
If you look at some of the penny stock brokerage growth statistics from last year, youâll also see this trend. Among most mainstream platforms, Robinhood reigned supreme. Millions of new traders wanting access to stocks flocked to the app for its simple interface. Though things like execution times on trades take longer than Fidelity or Etrade, for instance, itâs still one of the most-used platforms out there.What About Penny Stocks On Robinhood?
Robinhood Penny Stocks To Watch Right Now
One of the most popular platforms for trading penny stocks is Robinhood. Thereâs really no getting around it. Even in light of the technical issues, the lack of access to things like OTC penny stocks, and the questionable events thatâve come about recently, itâs still the top dog among retail trading apps.
If you look at some of the penny stock brokerage growth statistics from last year, youâll also see this trend. Among most mainstream platforms, Robinhood reigned supreme. Millions of new traders wanting access to stocks flocked to the app for its simple interface. Though things like execution times on trades take longer than Fidelity or Etrade, for instance, itâs still one of the most-used platforms out there.What About Penny Stocks On Robinhood?
Should These Be On Your List Of Penny Stocks To Buy?
Trading penny stocks is simple in theory. You find cheap shares, hit the buy button on your broker platform, then sell when your profit target is reached. However, when it comes to finding the top penny stocks to buy, a lot more effort goes into it than just knowing how to buy or when to sell. Research is key, and understanding volatility is important.
The definition of penny stocks refers to shares of companies trading under $5. With this as the backdrop, share price alone can make for a volatile situation in the market. Think about it. Even with the highest-priced penny stock, a 50 cent move still equates to a noticeable gain. The lower the price, the less movement needed to realize meaningful gains.