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If You Like Biotech Penny Stocks, Check These 3 OutÂ
Biotech penny stocks are some of the most popular securities in the stock market right now. Within the industry, many different companies are working on a large range of projects. Traders should understand that investing in biotech can be both a short and long-term opportunity. Very quickly, companies can see valuations change by massive amounts. If a company receives approval from the FDA or a positive result from a clinical trial, this can often lead to high speculation and volatility. To differentiate biotech stocks by their volatility, investors should consider the difference between biotech penny stocks that play a role in Covid or those that donât for right now. The former tend to be much more volatile based on broader market headlines and virus data.Biotech Penny Stocks to WatchÂ
Nasdaq & NYSE Penny Stocks To Watch This Week
We always talk about following trends when it comes to penny stocks. It might be a niche like electric vehicles or an entire sector like biotech. On this note, the latter has been one of the hottest corners of the stock market today. In fact, biotech and small-cap stocks were among the top performers of the week so far. Letâs take a few of the benchmark ETFs to show what Iâm talking about.
The NASDAQ Biotech ETF (IBB) and Russell 2000 Small-Cap ETF (IWM) reached fresh all-time highs. Meanwhile, the broader S&P 500 (SPY) came up short. Whatâs more, is that the Biotech ETF closed 9 cents shy of its high. The strength in small-cap biotech stocks may be something to take notice of right now. Thatâs also true in light of continued momentum stemming from vaccine stocks. With the new, more contagious variant identified in the U.S. this week, there could be a brighter spotlight on sector stocks.