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4 Tech Penny Stocks That You Should Know About
There are three main types of penny stocks trading strategies, and each investor can use a different one to their advantage. These strategies are typically referred to as either conservative, moderate, or aggressive and can be determined by the type of stocks and risk associated.Â
Many domestic and international bonds are considered conservative due to their low price fluctuations, while penny stocks are considered more aggressive.Â
With penny stock investing, the risk is always an associated factor due to their low volume and high speculative nature. This drives much volatility in price and is used as a financial tool by investors during irregular periods in the market.Â
Best Electric Vehicle Penny Stocks to Watch Right NowÂ
Electric vehicle penny stocks are shooting up today on some exciting news from the Biden administration. Before we get into it, letâs talk about what EV penny stocks are doing outside of this news. While giants like Tesla Inc. (NASDAQ: TSLA) remain at the forefront of the EV market, many smaller companies have come to light.Â
Now, we know that the future will put a major emphasis on renewable energy. And this is illustrated by the largest car manufacturers in the world like Ford, Audi, Volvo, and Mercedes, all working to produce new electric vehicles. And while you may think that only EV penny stocks are benefitting, there are plenty of penny stocks to watch that donât manufacture electric vehicles.Â
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
3 Tech Penny Stocks to Watch Right NowÂ
Tech penny stocks have become some of the best performers of the past year. Whether a combination of pandemic-related tech needs or the entrance of more innovative products, there are a few reasons why these penny stocks are seeing solid momentum.
As we move into the last month of the Spring and even closer to tax-day, the market has a tendency to consolidate as the public gets ready to pay up. However, investors both new and old recognize that volatility like this can be used as a short-term financial tool, especially when considering that there are so many penny stocks under $5.Â