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.