If you are looking for the cheapest to buy penny stock nowStart with $1. Seriously, this is the threshold where you start seeing actual stock trading for pennies. Although the standard definition of a penny stock sets the upper bound at $5, there is a lot to be said for actual “cash” stocks. Before the New Year, there is no shortage of companies in this “prestigious” basket. Rest assured, though, that low-priced stocks like this one aren’t shy.
Benny Stokes TL; 30-second summary of the doctor
- Feast High risk, high reward
- the Definition of cash stock Generally it indicates $5 minimum. But many retail traders are looking for stocks to trade literal for pennies.
- These cheap stocks also don’t require a huge rise in price or depreciation to result in significant percentage changes.
- Earlier this week, we looked closely at the number 3 less than 1 dollar to watch this week. Today we are looking at 4 more to add to that list.
Earlier this week, we discussed 3 penny stocks under $1. Everyone saw volatile swings taking them 20% or more in a single day. For information on those companies, check out “Top 3 Penny stocks to buy under $1 this week.” As discussed in this article, just because traders can buy the following stocks for less than $1, it won’t negate the higher risk. So keep that in mind if any of those are on List of penny stocks Immediately.
Penny stocks under $1 to watch this week
Yongeji Corporation (NASDAQ: YJ)
Will the common thread All penny stock In this list next to the price is the trend. Most of them experienced longer periods of selling pressure that brought them to the levels they are at now. However, recent market momentum appears to have caused a turn (for now). How long this rebound will last is not yet clear.
Yunji is one such company. Its share price recently reached a 52-week low this week. The social e-commerce platform comes from mixed earnings. Yunji posted a Q3 profit. However, revenue decreased due to the change in its model. In particular, the company’s free entry in 2020 will be discontinued in 2021. According to the company, revenue from the membership program in the third quarter came from paying members to join the new membership program launched during the second quarter of this year. The company remains optimistic about its supply chain matrix to provide value to members.
In addition, Chinese stocks are generally getting attention. This comes after UBS Global Wealth Management’s Kelvin Tay said in an interview, “I think China is cheap. If you look at China’s performance this year, on a relative basis, it has actually underperformed 40% against both the European indices as well as the US indices.” … From an evaluation perspective, from a positioning perspective, China certainly looks very, very attractive.”
With that in mind, YJ stock has seen a strong rebound in stock market today.
CooTek Inc. (NYSE: CTK)
CooTek Mobile Company is another China-based company Penny watch for less than 1 dollar today. Shares are up after those latest comments from UBS this week. The move in CTK stock also comes on the heels of news that CooTek, which it has invested in, Smillage, reached a milestone this month. Hotties Up from the game studio has reached the top three in the US iOS game rankings.
Read: Top Penny Stocks to Buy Under $3? Check out these 3 out
Hotties Up is a scenario-based game with a parkour dress-up game. It targets the female age group of Generation Z and allows players to choose costumes and open new dialogues depending on the level passed.
This isn’t the first milestone of CooTek gaming focus either. Earlier in December, the company’s Fengdu Novel app reached a collaboration with Tencent Video’s Mars Project. The Tencent Project is designed to support a small television drama adaptation. With these recent initiatives and renewed interest in Chinese penny stockCTK may be another one of the must-watch companies this week.
Color Star Technology (NASDAQ: CSCW)
Adhering to this trend in China-based companies, Color Star Technology joins the list less than 1 dollar to watch this week. CSCW shares rebounded again on Wednesday, as did many other Chinese tech names. The company has been fighting for a position in the market since a big sale in September that took shares of less than 50 cents. The bulk of the downside came after the Color Star announced a multi-million dollar increase at a steep discount to the market.
Regardless of funding, the company added working capital when Color Star began expanding its reach into new entertainment initiatives. These include the acquisition of Chujing Esports. The companies will collaborate to develop an “inclusive global esports entertainment sector” that leverages other industry assets. Soon after, Color Star also announced the planned launch of Sports-related Non-Foldable Token (NFT) products to mark the emerging metaverse industry.
In line with this, Color Star has continued to build its metaverse platform. The launch of its collaboration with the Philadelphia 76ers of the NBA and Spanish soccer player Casillas Fernandez has further enhanced the capabilities of the company’s entertainment metaverse platform.
GEE Group Inc. (NYSE: JOB)
Professional recruitment services company GEE Group has progressed steadily over the past few weeks. After dropping to 52-week lows of $0.39, JOB stock was able to rebound more than 45%. Helping with that bounce have been some of the recent catalysts. Among the largest was the full forgiveness of the $19.9 million public-private partnership loan that helped the company weather the pandemic.
Strong gains became the latest milestone in the wake of the loan forgiveness. GEE Group reported revenue growth of 34% year over year to $41.5 million for the fourth quarter. Meanwhile, gross profit jumped 45% over the same period, and gross margins rose about 2.7% from a year ago.
Read: Penny Floating Stocks to Buy at Less Than $5 Drop After RELI Rises 250%
“We have been able to add significant in-house recruitment resources, whether through office or remote work, to meet the growing demand for labor. In fiscal year 2021, we significantly increased the number of contract workers on assignment and the number of direct hiring positions. We continue to experience increased demand. and a strong hiring environment in the first quarter of the fiscal year ending December 31, 2021.” — Derek E. Dewan, CEO.
With this backdrop of year-end momentum, JOB stock continues to climb this week.
Penny Stock Under $1
When it comes to Best penny stocks to buyBeauty is in the eye of the beholder. But if you like risk, high volatility, and the potential for gains from small price changes, stocks under $1 might be something to watch. In this list, we’ve covered four penny stocks under $1. Below is our full list and a link to more details on the first three:
buy penny stock [or avoid] for less than 1 dollar
- Flotek Indusries (NYSE: FTK)
- Tantech Holdings Ltd. (NASDAQ: TANH)
- Bit Brother Ltd. (NASDAQ: BTB)
- Yongeji Corporation (NASDAQ: YJ)
- CooTek Inc. (NYSE: CTK)
- Color Star Technology (NASDAQ: CSCW)
- GEE Group Inc. (NYSE: JOB)
To see information on the first three names in this regard List of penny stocksCheck out “Top 3 Penny Stocks to Buy for Under $1 This Week.”
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