Are These On Your Penny Stocks To Buy List?
The funny thing about penny stocks is that 1 day they can be red hot; the next, they could be totally dead. This unique makeup is one of the major attractions that traders seek out daily. But what if you're not a high-volatility trader?
What if you've got a day job or aren't comfortable going in and out of stocks within minutes? I say, then don't do it. Instead, some traders look for more consistent trends. They'll use a mix of fundamental and technical analysis to put their list of penny stocks together in hopes that there's a sustainable move beyond a few minutes.
Are You Looking For Penny Stocks To Buy Right Now?
There are so many ways to buy penny stocks. You can invest in them, which involves a bit more trust on your part as the one buying. Due to their volatile nature, swings of 20% or more within a short timespan aren't uncommon. So having an excellent understanding of a company's business model and its aim at executing it will be important.
On the other hand, you could also learn how to day trade penny stocks. You don't have to be Gordon Gecko to buy and sell stock in a single day. Understand timing, have patience, and it doesn't hurt knowing technical analysis. You could also take up a hybrid approach to trading.
One example of this is called swing trading. It involves buying penny stocks, holding them for a few days, then selling them. Some swing traders even hold onto their shares for weeks at a time. Again, understanding how to read charts and decipher the meaning of certain headlines is key. Staying in winning trades longer is never a bad thing either.
Whichever your style, the goal is the same. Making money with penny stocks is the ultimate end-game here. While some sectors have taken a back seat this year, a few of these tech penny stocks have actually flourished. Given the recent trends, will they be on your list of penny stocks to buy before the end of the month?
Penny Stocks To Buy [or sell] This Month
- Allied Esports Entertainment Inc. (NASDAQ: AESE)
- MICT Inc. (NASDAQ: MICT)
- Vinco Ventures, Inc. (NASDAQ: BBIG)
Esports Tech Penny Stocks Aren't Playing Games
Those who've been looking for Esports penny stocks to buy have stumbled upon Allied Esports this quarter. The company was actually going through a transitionary period and even announced a process to seek strategic alternatives. The penny stock caught a pop a few weeks ago after Citron Research published an article explaining that GameStop (NYSE: GME) should look at the gaming company Esports Entertainment Group (NASDAQ: GMBL) as a potential acquisition candidate. This triggered momentum across most esports stocks; penny stocks included.
Since pulling back earlier this month, AESE stock has been in focus because of its pending sale of all the rights to its World Poker Tour(R) assets. It had inked a deal with Element Partners, LLC. for over $78 million. But then another suitor came around with an attractive offer. Bally's Corporation (NYSE: BALY) offered to buy Allied for $100 million.
This has become the main focus for traders, translating into strong bullish sentiment in the market. This week, the company announced a three-day amateur esports event at Brookfield's First Colony Mall in Sugar Land, Texas, to be held from March 26-28. With multiple catalysts on its plate, would you rate AESE stock a buy or sell right now?
MICT Inc. Shares Get A Boost
Tech company MICT Inc. has been another company gaining some renewed interest recently. Is it worth a buy at this point? I'll let you be the judge. But I can say that MICT stock has managed to strongly rebound over the past few weeks. Since March 5th, the penny stock has bounced from $1.51 to highs this week of $2.47.
The company offers a range of technologies, one of which is trading, online brokerage, and wealth management services. Last month, Huapei Global Securities, Ltd. Huapei will provide MICT with a licensed platform to facilitate securities trading on the major stock exchanges in Hong Kong, the United States, and China for its Chinese and Hong Kong clientele.
Over the last few weeks, there's been a slew of insider buys and a recently filed Form 13. It showed Altium Capital Management holding a 4.9% stake in the company. Simultaneously, one of MICT's other subsidiaries, Micronet Ltd., received a purchase order for 2,000 units of its SmartCam connected product from one of North America's largest telematics service providers. The deal is worth roughly $900,000. SmartCam is an in-vehicle telematics and connectivity platform for cellular networks (4G). It allows for video telematics via the android platform and is coupled with vehicle-connected interfaces, diagnostic capabilities, and two cameras.
While there haven't been any recent updates, momentum has certainly factored itself in. MICT stock has continued testing levels near its recent high this week.
A TikTok Competitor Getting Social Signals From Penny Stock Traders
If you haven't heard of TikTok, it's one of the most popular social media platforms in the world. Over half a billion users worldwide are on the app as it leverages the social aspect of video engagements. Users spend countless hours thumbing through short video clips looking for everything from information to a few laughs. One company has set its sights on becoming a major competitor to TikTok.
Vinco Ventures Inc. and its partner Zash Global Media and Entertainment have been making headlines this quarter. Zash is led by co-founders Ted Farnsworth (financier and former MoviePass Chairman), early Musical.ly (now TikTok) investor Jaeson Ma, and early Triller board member Vincent Butta.
Late last month, Zash entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited. It's a Singapore-based video-sharing social networking platform becoming a rival to TikTok and Kuaishou. The closing of the Lomotif acquisition by ZASH is scheduled to occur concurrently with the closing of ZASH's merger and business combination with Vinco Ventures, Inc.
No further details have emerged. But since March 5th, BBIG stock has been on the rise. Given the scope of the proposed Zash acquisition and recent definitive agreement for Lomotif, will BBIG be on your list of penny stocks this month?
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