7 Penny Stocks Under $1 To Watch Now, Time To Buy?

Penny stocks, defined as stocks priced under $5 per share, are often attractive to investors due to their low cost. They are also known for their potential to generate high returns, although this is accompanied by higher risk. While penny stocks may seem like an enticing investment opportunity, it’s important to approach them cautiously. Do your due diligence before investing.

Are Penny Stocks Worth It?

One of the reasons why someone might want to buy penny stocks under $1 is the potential for significant gains. Because cheap stocks are priced so low, it’s not uncommon for them to experience massive price fluctuations in a short period. For example, a stock trading at $0.50 per share could quickly double in value to $1 per share, resulting in a 100% return on investment.

Additionally, penny stocks can be attractive to investors looking to diversify their portfolios. By investing in various low-priced stocks, investors can spread their risk across multiple investments and potentially reap the rewards of any high-performing stocks.

However, it’s important to note that low-priced stocks are not without risk. These stocks are often associated with small, lesser-known companies with limited financial resources or an unproven track record. Investing in penny stocks requires careful research and due diligence to avoid scams or companies that are unlikely to succeed.

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When searching for penny stocks to buy, it’s important to look for companies with a strong financial position and a clear growth strategy. Some investors prefer to invest in companies operating in a niche market or offering a unique product or service.

How To Find Penny Stocks For Your Watch List

There are a few ways to find names for your list of penny stocks. You can turn to financial news websites or investment forums or use a stock screener. It’s important to remember that not all penny stocks are created equal. That’s why it’s essential to research before making any investment decisions.

Penny stocks can be an attractive investment opportunity for diversifying their portfolio or potentially generating significant returns. However, investing in cheap stocks requires caution and thorough research to avoid scams or companies that are unlikely to succeed. By doing proper research and investing wisely, you may find cheap stocks that offer high potential returns and a low cost of entry.

Will that be the case for today’s list of low-priced stocks? Let’s look at what’s happening, and then you can decide for yourself. This is also a continuation of the list of companies in our article “4 Penny Stocks Under $1 To Watch Now, Time To Buy?“

E-Home Household Service Holding (EJH)

When it comes to penny stocks under $1, you’ll likely find some “ugly” charts. Nevertheless, that doesn’t mean these stocks won’t offer something to look at. Case in point, E-Home Household Service Holding hit 52-week lows on Tuesday but made a substantial rebound one day later as traders circulated the company’s latest update.

The home services provider announced acquisition news that seems to have been well-received. E-Home plans to buy Fujian Liangjie Environmental Service Co. to expand its reach in the cleaning space. Liangjie provides daily cleaning, reclamation cleaning, wall cleaning, and even landscaping services.

“The proposed merger and acquisition of Liangjie Environment will qualitatively optimize and improve the original business market integration and development, urban service market development, team building, and other modules, realize the integration of resources of both sides, the combination of industrial operation mode, and the optimization of team management, and promote the rapid development of the new industrial platform,” explained E-Home CEO Wenshan Xie.

Following the news, EJH stock has surged more than 15% and with some of its highest volumes of the quarter.

Top Ships Inc. (TOPS)

Shipping stocks have been a focus amid several trends. These include the reopening of emerging markets from Covid. This, in turn, has resulted in higher demand for energy. Companies like Top Ships are gaining attention thanks to these global catalysts.

Top Ships owns ECO tanker vessels, and news of its latest revenue has sent a message to the market. Now, TOPS stock is trading lower, and that came after announcing a multi-million dollar funding round in February. The company managed to record a strong year of growth in 2022. Revenue came in 43% higher than in 2021 at $80.7 million, with a net income of $18.9 million. That net figure is 120% higher than the previous year’s results.

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“We are very happy to report record net income for the year ended December 31, 2022, which is the highest reported net income since 2008 and 120% higher than the same period in 2021. I believe that the current trading price of our common shares does not reflect the intrinsic value of the Company and that the actions we have announced today will benefit all shareholders,” said Evangelos Pistiolis, CEO of Top Ships.

With solid results and fresh capital, TOPS stock has come back into focus for retail traders this week.

Harbor Custom Development (HCDI)

Shares of real estate company Harbo Custom Development have seen a significant uptick in action recently. HCDI stock popped from 52-week lows of $0.33 in mid-February to as high as $0.74 after it scored it contracted to sell its Mills Crossing townhomes. The selling price was set at $14.25 million to Kitsap Community Resources.

In response to the deal, Kitsap Community Resources Executive Director Anthony Ives said.”Kitsap Community Resources is proud to be working with Harbor Custom Development, Inc. on this important project. Together in collaboration with many community partners in Kitsap County , this represents a small piece of a much larger puzzle to combat the existing housing crisis within our community and across the region. By providing safe and affordable housing, the Mills Crossing townhome project will benefit vulnerable families and the city as a whole.”

News this week that Harbor continues expanding into Texas seems to have acted as a catalyst. In an update, the company partnered with Wurzel Builders, LTD. The plan is to expand Harbor’s luxury single-family home division in Horseshoe Bay, Texas. Groundbreaking is expected this summer.

List Of Penny Stocks Under $1

1. E-Home Household Service Holding (NASDAQ: EJH)
2. Top Ships Inc. (NASDAQ: TOPS)
3. Harbor Custom Development (NASDAQ: HCDI)
4. VivoPower (NASDAQ: VVPR)
5. TransCode Therapeutics (NASDAQ: RNAZ)
6. Novo Integrated Sciences (NASDAQ: NVOS)
7. VBL Therapeutics Ltd. (NASDAQ: VBLT)

The post 7 Penny Stocks Under $1 To Watch Now, Time To Buy? appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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