4 Penny Stocks To Watch This Week


Short Week Brings New Opportunities For Penny Stocks

If you’re looking for hot penny stocks right now, you’ve looked in the right place. There are a lot of trends to follow, especially when it comes to retail traders. While your traditional investing style may focus on fundamentals, this part of your daily trading portfolio is all about short term risk / reward.

Technical indicators and graphical charts tend to take precedence over a company’s earnings per share growth. Take for example short-press penny stocks. The chances of a person looking to invest for more than 5 years are low if you are talking about stocks with high short interest. But for traders, it could present a very timely opportunity in the short term.

The same goes for some of the industry trends that have made company stocks fly. Take the example of the electric vehicle and renewable energy industries. While both may become wise investments in the future, wild volatility has currently favored short-term traders over long-term investors.

Last week, for example, the new solar electric vehicle company, Sono Group (NASDAQ: SEV), went public. In less than 48 hours after the IPO, SEV stock has gone from around $ 20 to highs of over $ 47. A few days later, the EV stock is now trading below $ 20. It’s cases like these that support the idea that it’s essential to have a strategy in place no matter if you are trading or investing in penny stocks.

In this article, we take a look at a handful of names that have turned heads in the stock market today. Whether it’s spikes in volatility or becoming a household name in a notable industry, high volume and momentum is at play in the first half of the short week.

Penny Stocks to Watch Right Now

Penny Stocks to Watch 1. Birks Group Inc. (NYSE: BGI)

Luxury and general retail stocks are becoming popular items right now. Just look at companies like Signet Jewelers (NYSE: SIG) or Capri Holdings (NYSE: CPRI). Both of these luxury retailers hit new record highs in 2021 this quarter. As the market seeks a boost of sympathy in similar businesses, the Birks Group may have subtly benefited from it recently.

After a free fall at the start of the month, BGI shares have rebounded steadily. Stronger earnings and a return to profitability were among the main drivers of the renewed interest in shares of the fine jewelry company. Birks reported a 48.4% increase in sales for the 26-week period ending September 25, 2021, for its 2022 fiscal year. This generated gross profit of $ 34.9 million and equates to a jump of more than 50% compared to the same period of fiscal year 2021.

Read more: 101 ways to invest in the metaverse

Jean-Christophe Bédos, President and CEO of the Birks Group, explained: “Our return to profitability is an important step that testifies to the success of the strategies we have put in place to overcome the challenges posed by COVID-19 … The Company is Fiscal 2022 off to a good start with sales growth across all channels, including the continued expansion of our e-commerce channel and the momentum created in our Birks Jewelry wholesale business, highlighting the progress made in implementing our omnichannel strategy. “

With this rebound in performance and increased interest in luxury retail, BGI could be one of the penny stocks to watch this week.

2. OLB Group Inc. (NASDAQ: OLB)

best penny stocks to watch this week OLB Group OLB stock

OLB Group is one of the short stocks that erupted earlier this month. this was due, in part, to the surge in interest in cryptocurrency and blockchain tech stocks. OLB specializes in fintech and bitcoin mining services. When the market went crazy for penny stock, the OLB had just announced that it would be able to process Bitcoin Mastercard payments for its merchant partners. This news helped build enough excitement to see OLB stock soar to highs over $ 12. Since his return to earth, the company has remained on the watch, albeit during a continuing decline.

This week started off with cryptocurrencies mixed in at all levels. Over the weekend, the price of Bitcoin swung between the mid to high range of $ 50,000. Other leading cryptos, including Ethereum, Litecoin, and even Shiba Inu, have mirrored this trend. Even with that as the case, OLB shares saw a bit more volume on November 22 than in previous sessions. While there haven’t been any headlines to report, the depressed price could be the underlying catalyst as traders wait for a bigger move (up or down) in cryptocurrencies.

In many cases, speculation plays an important role in crypto-related stocks. Traders place their bets on how the underlying price of things like Bitcoin might influence certain stocks. With OLB being part of the crypto niche, it might be interesting to watch if things like Bitcoin start to move.

best penny stocks to watch this week Taseko Mines TGB stock

3. Taseko Mines Limited (NYSE: TGB)

Mining is an industry that has come back to the fore lately. With recent volatility in precious metals and energy prices, the market appears to have turned to commodity companies. Taseko specializes in the extraction of copper and molybdenum, two flagship products in the electric vehicle market. Plus, you can’t forget the huge sums of money set aside for deployment to rebuild or further improve infrastructure globally.

The company is coming off a strong third quarter result reported earlier this month. Taseko posted 100% better EPS than estimates and reported sales of $ 132.56 million for the quarter, compared to just $ 106.49 million expected by analysts.

“The increased production of metals resulted in lower unit costs as total operating costs (C1) fell to $ 1.57 per pound produced, 22% lower than in the previous quarter… We now have approximately $ 300 million in cash on hand and are well positioned to move into our next phase of growth with the construction of the Florence Copper commercial production facility.

Stuart McDonald, President and CEO of Taseko

To that end, Taseko said he received a first draft of an underground injection control permit from the EPA for its Florence project. In light of these latest milestones, TGB could be one of the penny stocks to watch.

4. NewAge Inc. (NASDAQ: NBEV)

best penny stocks to watch this week NewAge Inc. NBEV stock

Sometimes it’s not the corporate headlines that drive the momentum. NewAge is a perfect example. The penny stock has been under noticeable pressure for months, but this week stocks have been trading among the highest single-day volumes since February. The catalyst wasn’t from a new sales deal or big product reveal. NBEV shares surged following a Form 4 filing which showed manager Ed Brennan had recovered half a million shares at the end of last week. Its average price was $ 1.2155 per share.

The purchase came just days after NewAge announced the discovery of a new method to combat the effects of aging. As part of this, the company also filed a patent to protect this latest discovery.

Deanna Latson, Chief Product Officer of NewAge, explained, “This is the first time that scientists have determined how to simultaneously treat these specific pathways through which HGH declines in the body. As a result, we can now trigger the body’s natural regeneration process and support cellular health. To our knowledge, no other product can enhance cell regeneration, inhibit cell apoptosis, support physical resilience, boost energy and stamina, and combat other unwanted effects of aging.

Read more: 3 Hot Penny Stocks To Watch That Exploded Today, A 93% Increase

Thanks to these two developments, it seems that there is a little more optimism at the start of the week. Will it last over the holidays for NBEV stock?

Hot Penny Stocks to Watch Right Now

Either way, it’s important to understand that penny stocks come with a lot of risks. They are among the most volatile stocks to trade. Yet because of this, they can offer one of the highest potential for short-term earnings. Considering the latest milestones from some of these companies, will any of them be joining your penny stock list this week?

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, Florida 33146 | [email protected]


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