Elys Game Technology Corp. (NASDAQ: ELYS)Penny Stocks To Buy [According To B. Riley]: New York Mortgage Trust Inc. (NASDAQ: NYMT)
This week B. Riley Securities initiated coverage on New York Mortgage Trust. You may recall this firm from other articles this week. Analysts at B. Riley recently reiterated a Buy and $21 target on one of the former biotech penny stocks weâve discussed in the past. Needless to say, when it comes to New York Mortgage, B. Riley analysts issued a Buy on the company along with a $6 price target. based on its current trading levels, that would mean a proposed rise of over 30%. Whether or not it ultimately reaches that level is yet to be seen.
Are These Penny Stocks on Your May Watchlist?
As the economy reopens, penny stocks that can benefit are constantly in focus. These companies are known as reopening penny stocks. This explains the recent growth we have seen in the trailing months with certain stocks under $5. Right now, investors should consider which penny stocks to buy as they relate to reopening sectors. As vaccination rates rise and in-person restrictions are lifted, retail traffic will once again increase.Â
The massive growth seen with tech stocks and e-commerce sectors during COVID was not surprising. However, this caused many penny stocks to suffer last year. Specifically, this includes those reliant on in-person retail traffic. We are now in a period of high volatility, which many investors consider to be a good sign. [Read More] What Are Penny Stocks? 2 Top Trading Tips for 2021
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