Are These Penny Stocks A Buy Or Avoid Right Now?
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If you’re like most retail traders right now, you’re on the hunt for the next round of hot penny stocks to buy. In the stock market today, meme stocks are heating up. What some may consider the “OG” or bellwether of this bunch, GameStop (NYSE:GME) has surged for a 5th consecutive day on its highest trading volume since early September. This latest comes one day after brokerage firm TD Ameritrade instituted certain trading restrictions on several meme stocks, GME included.
The brokerage, now a unit of Charles Schwab Corp. (NYSE: BLACK), limited certain options restrictions and short-selling rules. According to its November 2 statement in the section discussing GameStop stock, TD laid out three specific limits. These included:
- Short selling of stock is not allowed at this time.
- There are no additional requirements on long or short options at this time.
- We may implement additional requirements on opening trades on options the day they expire.
With this, the “Ape community” has become even more bullish on the slew of popular penny stocks on Reddit.
Penny Stocks & New Themes To Watch
The meme theme isn’t the only thing seeing retail traders ramping up to trade right now. Popular platforms, including Webull, are well-known for their somewhat built-in restrictions. These usually entail things like no trading of OTC penny stocks or specific options, cryptocurrencies, etc.
There are some exceptions to these rules. However, when it comes to cheap penny stocks, the vast majority are inaccessible due to being listed on alternative exchanges. Today, we’re looking at 5 penny stocks on Webull that trade for less than $1 but are still listed on major exchanges. Therefore, you’re likely to find information on these if you’re using popular mobile trading applications to buy penny stocks. Just keep in mind, just because they’re “cheap,” that doesn’t mean there aren’t plenty of risks to keep in mind.
Penny Stocks On Webull To Buy Under $1
- TherapeuticsMD Inc. (NASDAQ:TXMD)
- Meten Holding Group Ltd. (NASDAQ:METX)
- BIMI Internatinal Medical Inc. (NASDAQ:BIMI)
- Senmiao Technology Limited (NASDAQ:AIHS)
- Regulus Therapeutics Inc. (NASDAQ:RGLS)
1. TherapeuticsMD Inc. (NASDAQ:TXMD)
Some of the trends we’ve recently watched in the stock market have centered around stocks that have steadily climbed over the last few months. In this case, there are a few names on this list following this trend. TherapeuticsMD is also part of this as shares have climbed steadily from lows of $0.67 in September to highs this week of $0.7941.
The company specializes in products exclusively for women. These include therapeutics focused on family planning, reproductive health, and menopause management. A few key updates have helped with market interest over the last few months. For instance, its BIJUVA® (estradiol and progesterone) capsules were approved by Health Canada last quarter. It’s indicated in Canada for moderate to severe vasomotor symptoms associated with menopause in women.
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Heading into the rest of November, earnings could be in prime focus. Earlier this year, TherapeuticsMD made mention that it was on track to meet or exceed the third quarter 2020 total net revenue consensus of $15.1 million. The company also said it was experiencing record retail and wholesale demand for its ANNOVERA product. What’s more, popularity and bullish sentiment may have also become a factor as earings approach. Take a look at Webull’s current sentiment track on TXMD stock:
2.Meten Holding Group Ltd. (NASDAQ:METX)
Shares of Meten Holdings have been very active over the last few months. Most recently, the penny stock saw a solid spike to highs of $0.745. While the company hasn’t been extremely vocal by the look of its latest headlines, METX stock has benefited from speculation tying it in with the popular cryptocurrency trends in the market recently
This eventually came to a head thanks to Meten’s latest update in October. The company announced a strategic cooperation agreement with AGM Group Holdings to speed up Meten’s blockchain and crypto mining business development efforts. Jason Zhao, Co-Founder and Executive Director of Meten, explained, “Leveraging AGMH’s advanced technology, experienced team, and superior quality miners, we believe our partnership will accelerate Meten’s development in the field of blockchain and cryptocurrency and further unlock the full potential of our new business initiatives, putting us on the best path to success.”
There are more details to sift through as this deal continues materializing. However, METX stock remains one of the higher volume penny stocks under $1 growing in popularity among traders on Webull:
3. BIMI Internatinal Medical Inc. (NASDAQ:BIMI)
Another one of the Webull penny stocks under $1 to watch right now is BIMI International. This was a big mover earlier this quarter. Shares of BIMI stock surged from around $0.53 to highs of more than $2.60 within a day, thanks to retail trading momentum boosting shares. This flurry of furious buying came when one of the popular themes in the market put Chinese and low-float penny stocks in the spotlight. Of course, like many breakouts based primarily on speculation, BIMI came crashing down just as quickly as it went up.
Since then, however, it has remained a popular stock to watch. Heading into November, BIMI continues in its attempts to rebound. The healthcare product company specializes in life science technology dedicated to offering affordable care. BIMI also operates several hospitals in China.
At the tail end of Q3, the company signed its latest acquisition deal with Chongqing Zhuoda Pharmaceutical Co., Ltd. This will expand BIMI’s offering to include wholesale pharmaceuticals and medical equipment supply. According to Chongqing, it has more than 1,220 pharmaceuticals products, more than 50 types of medical equipment, and “thousands” of Chinese herbal medicines.
If you look at the trader sentiment on Webull, it appears to be relatively bullish among the community. Despite the significant pullback from last month’s breakout, November has kicked off with a bit of bullishness so far.
4. Senmiao Technology Limited (NASDAQ:AIHS)
Shares of AIHS stock have been steadily climbing over the last few weeks. Since reaching new 52-week lows of $0.50 in September, Senmiao has been on the recovery road. It’s managed to bounce back over 40% to date during that time. This is another one of the China-based penny stocks to watch right now, following a series of critical updates that have turned the spotlight toward the company.
In particular, Senmiao has benefited from the latest trend in tech involving everything from blockchain technology to the massive ride-hailing industry in China. Earlier this quarter, Senmiao signed an agreement with Sichuan Xintianjie Culture Media Co., Ltd to collaborate with Senmiao for 5G+blockchain streaming media services targeting ride-hailing vehicles.
This week Senmiao continued making new progress with its latest deal with Guizhou Zhongxuan Online Ride-hailing Operation Group Ltd. They are one of the largest online ride-hailing companies in the Guizhou province, according to Senmiao. In particular, they focus on tourism and chartered transportation. In response to the latest update, Xi Wen, Chairman, Chief Executive Officer and President of Senmiao, said, “Senmiao looks forward to expanding our presence in Guizhou with this cooperation and believes this is only the beginning of a productive relationship with Zhongxuan whereby both parties can leverage their core competencies in technology systems to further digital transformation across the industry.”
What’s more, sentiment appears to be heightened if you’re looking at Webull’s “Stock Sentiment” tool.
5. Regulus Therapeutics Inc. (NASDAQ:RGLS)
Finally, Regulus Therapeutics rounds out this list of penny stocks under $1 after extending gains further on Wednesday. Since October 21, RGLS stock has steadily bounced back from its 52-week lows. This was due, in part, to recent updates on its pipeline progress. In particular, Regulus’ RGLS8429 has come into the spotlight as the core focus of the company. This is its treatment candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD). Dosing was recently completed, and Regulus expects to submit an Investigational New Drug application and begin a Phase 1 study early next year. This is, of course, barring any further FDA hurdles.
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While this news was poorly taken by the market initially, the new direction appears to have become a high-point heading into November. Regulus advancing RGLS8429 was in place of focusing on its RGLS4326 candidate since 8429 had shown “more compelling” potential. If you look at the company’s October 2021 investor deck, it could give some clues as to what this quarter could hold for the company. In particular, Regulus presented that RGLS8429 is expected to have a pre-IND meeting planned for this quarter. In addition, its partner, Sanofi, is enrolling in a Phase 2 study in Alport Syndrome, where the lademirsen (RG-012) is the treatment candidate in focus.
Penny Stocks Under $1
Remember that even though these are stocks that can be bought for under $1, that doesn’t mean they’re guaranteed to return exponential gains. There are plenty of risks involved especially when you’re talking about cheaper stocks. However, with this risk comes the potential for a greater reward if your trading thesis is correct.
The biggest thing to keep in mind is to have a plan in place before jumping into things. Understand specific catalysts that could be in play now or down the road so that you’re prepared for whatever comes next. In this case, traders on Webull have weighed in on their outlook. Do you agree or disagree? Leave a comment below.