Best Penny Stocks To Buy Now? 3 Under $1 To Watch

Penny Stocks: High Risk, High Reward

Penny stocks, typically priced below $5, have become a popular choice for day traders due to their potential for rapid gains. These stocks can offer market-beating returns in a short period, making them attractive for those looking for quick profits. However, they come with their own set of risks and challenges.

Emerging Companies and Phoenixes

Penny stocks can be a platform for emerging companies to gain traction or for struggling companies to make a comeback. A prime example is Carvana (NASDAQ: CVNA). Not too long ago, Carvana was trading for pennies, with its stock price plummeting to $3.55 amidst rumors of debt restructuring. However, the company managed to turn its fortunes around, with its stock price soaring to $57.19 this year.

High Volatility and Speculation

Not all penny stocks will see such success, and many might even fail. But the allure of penny stocks to watch lies in their high volatility, which can result in significant gains. For instance, American Rebel (NASDAQ: AREB) recently announced that its safe subsidiary Champion Safe has been “bombarded” with calls from safe dealers and customers seeking alternatives to safes made by Liberty Safe. The moment arose after Liberty Safe faced severe backlash for recent FBI-related actions.

“Our company’s protocol is to provide access codes to law enforcement if a warrant grants them access to a property,” Liberty Safe said on Tuesday, according to Newsweek. “After receiving the request, we received proof of the valid warrant, and only then did we provide them with an access code.”

American Rebel CEO Andy Ross made a statement this week that, “We stand behind the Constitution and are committed to protecting our customers’ privacy rights.”

Shares of AREB stock have exploded from below $1 on Wednesday to highs of $1.99 Thursday morning.

You can also find other cheap stocks exploding without any news or recent developments. For instance, Kaixin Auto (NASDAQ: KXIN) is relatively thinly traded. However, on Thursday, the penny stock jumped more than 60% with some of its highest daily trading volumes of the quarter. There weren’t any headlines or company communications to immediately point at. However, it doesn’t necessarily matter to those looking to capture quick opportunities from low-priced stocks.

Penny Stocks Under $1: The Ultimate Gamble

This move in AREB stock, KXIN, and others in its price bracket has placed a focus on cheap penny stocks under $1. For those willing to take on even more risk, these low-priced equities can offer even more dramatic price movements.

While these stocks can provide substantial returns, they can also be highly unpredictable. Investors should be aware of the catalysts driving these stocks and any upcoming events that might impact their prices. Only then can one make an informed decision on whether to invest or steer clear.

While penny stocks can offer lucrative opportunities, they are not for the faint-hearted. Investors should do their due diligence, understand the risks involved, and be prepared for the possibility of losing their entire investment.

1. Novo Integrated Sciences Inc. (NASDAQ: NVOS)
2. Synaptogenix Inc. (NASDAQ: SNPX)
3. Asensus Surgical Inc. (NYSEAMERICAN: ASXC)

1. Novo Integrated Sciences Inc. (NVOS)

Novo Integrated Sciences kicks off this list of penny stocks to watch. The common thread has been biotech & life sciences. Novo specializes in holistic health and wellness. The company offers a technology-focused method for personalized care and virtual access, among other things.

NVOS Stock News

September hasn’t seen any new updates from Novo. However, a series of releases since the middle of August has prompted momentum in the penny stock. For instance, Novo and Farm 7 Group announced a joint venture for the Kenya Cooperative Agriculture project. Novo will be providing all administration and structured finance solutions to the joint venture.

– Top Tools for Analyzing Penny Stocks

Novo’s IoNovo Iodine was also granted regulatory approval by Turkey’s Ministry of Health as a dietary supplement at the end of August. In addition, The company received underwriter clearance for the transaction between Novo and RC Consulting LLC in favor of SCP Tourbillion Monaco. The is for the transaction of an unsecured 15-year $70,000,000 promissory note with the Buyer for debt funding of $57,000,000.

2. Synaptogenix Inc. (SNPX)

Shares of Synaptogenix jumped on Thursday thanks to a welcomed news headline. The company develops treatment candidates for neurodegenerative disorders, including Alzheimer’s disease. Its Bryostatin-1 candidate has also shown mechanisms of action in multiple sclerosis, amyotrophic lateral sclerosis, Fragile X syndrome, stroke, and traumatic brain injury.

SNPX Stock News

This week, Synaptogenix announced that Bryostatin-1 showed “statistically significant results,” as an ALS treatment in a preclinical independent study. CEO Dr. Alan Tuchman explained, “Third-party validation of Bryostatin-1 in ALS is of great value to our Company as we continue to review options for our lead compounds. In keeping with our international outlook for potential acquisitions of asset rights or R&D funding for other assets, we are exploring opportunities with world-leading institutions on cutting-edge treatment innovations for central nervous system diseases.”

3. Asensus Surgical Inc. (ASXC)

Another one of the biotech penny stocks under $1 to watch this week is Asensus. The penny stock jumped on Thursday after its latest headlines hit press wires. Asensus has been in the spotlight over the last few weeks as the market waits to see if it can come back from its significant drop earlier this quarter.

Asensus, a medical device company, reported that it planned to raise $10 million at a discount to the market price at the time. This sent ASXC stock spiralling on dilution fears. Since then, however, things seem to have calmed down overall. But thanks to the new, lower trading levels, volatility remains high.

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ASXC Stock News

This week Asensus announced a collaboration with NVIDIA to speed up the development of its Intelligent Surgical Unit and improve upon deliverability to deliver clinical intelligence to surgeons. The company will use NVIDIA’s tools to expand upon the augmented intelligence capabilities of its Surgical Unit.

“Utilizing NVIDIA’s advanced technologies will allow us to further improve the ISU’s augmented intelligence capabilities and the roadmap of our innovative clinical applications,” said Anthony Fernando, Asensus Surgical President and CEO in Thursday’s press release.

The post Best Penny Stocks To Buy Now? 3 Under $1 To Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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