Penny Stocks To Watch If You’re Looking At Tech Right Now
You already know penny stocks are volatile. That’s probably why you’ve chosen to look for them in the first place. These cheap stocks can be barely trading one minute and then the next, they see an explosive move. Last year was a great one for penny stocks but this year is something we haven’t seen in a long time. There’s always been something to be said about “10 baggers”. Let me explain why.
These are considered breakout moves that see price jumps of 1,000% or more. While thought of as elusive, this year was definitely different as far as “10 baggers” are concerned. It has become an almost weekly occurrence that some penny stocks explode hundreds and even thousands of percentage points within a matter of days, if not hours.
It doesn’t seem to matter how trading was previously. One piece of big news or research note can act as a game-changing catalyst. We even saw an example of this today. In an earlier article, we discussed Equillium Inc. (EQ Stock Report). This was a stock that barely traded. When I say barely, I’m talking less than 10,000 shares per day at times. In all likelihood, there’s a slim chance that many had even come across this company before.
Yet on Monday, the penny stock traded more than 100 million shares. Yes, the same stock that had an above-average volume day on Friday with roughly 48,000 shares traded, saw that figure jump by. over…