5 Penny Stocks To Buy For Under $ 1 On Webull Right Now
Buy or Avoid These Penny Stocks Now?
If you are like most retail traders right now, you are looking for the next round of hot penny stocks to buy. In the stock market today, the shares of memes are heating up. What some may consider to be the “OG” or barometer of this group, GameStop (NYSE: GME) jumped for the 5th day in a row to its highest trading volume since early September. The latter comes a day after brokerage firm TD Ameritrade instituted certain trading restrictions on several meme stocks, including GME.
The brokerage, now a unit of Charles Schwab Corp. (NYSE: SCHW), limited certain options restrictions and short selling rules. According to its statement on November 2 in the GameStop actions section, TD has set three specific limits. These included:
- Short selling stocks is not permitted at this time.
- There are no additional requirements on long or short options at this time.
- We may implement additional requirements on opening options trades on the day they expire.
With this, the “monkey community” became even more optimistic about the multitude of popular penny stocks on Reddit.
Penny Stocks and new themes to watch out for
The theme of the meme isn’t the only thing that is seeing retail traders getting into business right now. Popular platforms, including Webull, are well known for their somewhat built-in restrictions. These usually involve things like not trading over-the-counter penny stocks or specific options, cryptocurrencies, etc.
There are a few exceptions to these rules. However, when it comes to cheap penny stocks, the vast majority are inaccessible due to their listing on alternative exchanges. Today we take a look at 5 penny stocks on Webull that trade under $ 1 but are still listed on major stock exchanges. Therefore, you will likely find information on this if you use popular mobile trading apps to buy penny stocks. Just keep in mind that just because they’re “cheap” doesn’t mean that there aren’t a lot of risks to keep in mind.
Penny Stocks on Webull to Buy Under $ 1
- TherapeuticsMD Inc. (NASDAQ: TXMD)
- Meten Holding Group Ltd. (NASDAQ: METX)
- BIMI International Medical Inc. (NASDAQ: BIMI)
- Senmiao Technology Limited (NASDAQ: AIHS)
- Regulus Therapeutics Inc. (NASDAQ: RGLS)
1. TherapeuticsMD Inc. (NASDAQ: TXMD)
Some of the trends we’ve seen in the stock market recently have focused on stocks that have steadily climbed over the past few months. In this case, there are a few names on this list that follow this trend. TherapeuticsMD is also one of them, as stocks have steadily risen from lows of $ 0.67 in September to highs this week of $ 0.7941.
The company specializes in products exclusively for women. These include therapies focused on family planning, reproductive health, and menopause management. A few key updates have helped market interest over the past few months. For example, its BIJUVA® capsules (estradiol and progesterone) were approved by Health Canada in the last trimester. It is indicated in Canada for moderate to severe vasomotor symptoms associated with menopause in women.
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As the rest of November approaches, earnings could be the focus. Earlier this year, TherapeuticsMD mentioned that it was on track to meet or exceed the Q3 2020 total net income consensus of $ 15.1 million. The company also said it is experiencing record retail and wholesale demand for its ANNOVERA product. Additionally, popularity and bullish sentiment may have become a factor as the earrings approach. Take a look at Webull’s current sentiment track on the TXMD stock:
2.Meten Holding Group Ltd. (NASDAQ: METX)
Meten Holdings shares have been very active in recent months. More recently, the penny stock has seen a strong spike reaching highs of $ 0.745. While the company hasn’t been overly boisterous about the looks of its latest headlines, METX stock has benefited from speculation linking it to popular cryptocurrency trends in the market recently.
It finally came to a head thanks to Meten’s last update in October. The company announced a strategic cooperation agreement with AGM Group Holdings to accelerate Meten’s business development efforts in blockchain and crypto-mining. Jason Zhao, Co-Founder and Executive Director of Meten, explained, “By leveraging AGMH’s cutting-edge technology, experienced team and superior miners, we believe our partnership will accelerate the development of Meten. in blockchain and cryptocurrency and further unleash the full potential of our new business initiatives, putting us on the best path to success.
There are more details to sift through as this deal continues to materialize. However, METX stock remains one of the top volume listed stocks of less than $ 1 that is increasingly popular among traders on Webull:
3. BIMI International Medical Inc. (NASDAQ: BIMI)
BIMI International is another of Webull’s under $ 1 penny stocks to watch out for right now. It was a big driver earlier this quarter. BIMI shares rose from around $ 0.53 to highs over $ 2.60 in one day, thanks to the dynamics of retail trading that boosted stocks. This wave of furious buying came when one of the popular themes in the market put Chinese stocks and low-floating pennies in the spotlight. Of course, like many mainly speculative breakouts, BIMI collapsed as quickly as it rose.
Since then, however, it has remained a popular action to watch. As November approaches, BIMI continues its attempts to rebound. The healthcare product company specializes in life science technologies dedicated to providing affordable healthcare. BIMI also operates several hospitals in China.
At the end of the third quarter, the company signed its final acquisition agreement with Chongqing Zhuoda Pharmaceutical Co., Ltd. This will expand BIMI’s offering to include the wholesale supply of pharmaceuticals and medical equipment. According to Chongqing, it has more than 1,220 pharmaceuticals, more than 50 types of medical equipment and “thousands” of Chinese herbal medicines.
If you look at the sentiment of traders on Webull, it seems to be relatively bullish within the community. Despite the significant pullback from last month’s breakout, November has started off with a bit of optimism so far.
4. Senmiao Technology Limited (NASDAQ: AIHS)
AIHS shares have been climbing steadily over the past few weeks. Since hitting a new 52-week low of $ 0.50 in September, Senmiao has been on the road to recovery. It has managed to rebound by over 40% to date during that time. It’s another of the China-based penny stocks to watch right now, following a series of critical updates that have put the spotlight on the company.
In particular, Senmiao has benefited from the latest technological trend involving everything from blockchain technology to the huge ridesharing industry in China. Earlier this quarter, Senmiao signed an agreement with Sichuan Xintianjie Culture Media Co., Ltd. to collaborate with Senmiao for 5G + blockchain streaming media services targeting transportation vehicles.
This week, Senmiao continued to make further progress with its latest deal with Guizhou Zhongxuan Online Ride-Haling Operation Group Ltd. They are one of the largest online ride-hailing companies in Guizhou Province, according to Senmiao. In particular, they focus on tourism and charter transport. Responding to the latest update, Xi Wen, Chairman and CEO and Chairman of Senmiao, said, “Senmiao is looking forward to expanding our presence in Guizhou through this cooperation and believes this is only the beginning of ‘a productive relationship with Zhongxuan in which both the parties can leverage their core competencies in technology systems to further digital transformation in the industry.
Additionally, sentiment seems to be heightened if you look at Webull’s “Stock Sentiment” tool.
5. Regulus Therapeutics Inc. (NASDAQ: RGLS)
Finally, Regulus Therapeutics completes this list of penny stocks under $ 1 after extending its earnings on Wednesday. Since October 21, RGLS stock has rebounded steadily from its 52-week lows. This was due, in part, to recent updates on the progress of its pipeline. In particular, Regulus’ RGLS8429 has become the focal point of the company. This is its therapeutic candidate for autosomal dominant polycystic kidney disease (ADPKD). The dosage was recently completed and Regulus plans to submit an investigational new drug application and begin a Phase 1 study early next year. This, of course, barring further obstacles from the FDA.
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While this news was poorly received by the market initially, the new focus seems to have become a highlight as November approaches. Regulus advances RGLS8429 was instead of focusing on his The RGLS4326 candidate since 8429 had shown “more convincing” potential. If you look at the company’s October 2021 investor deck, that might give some clues as to what this quarter may hold for the company. In particular, Regulus presented that RGLS8429 is expected to have a pre-IND meeting scheduled for this quarter. In addition, its partner, Sanofi, is enrolled in a phase 2 study on Alport syndrome, where lademirsen (RG-012) is the targeted therapeutic candidate.
Penny Stocks Under $ 1
Keep in mind that even though these are stocks that can be bought for under $ 1, that doesn’t mean they’re guaranteed to generate exponential gains. There is a lot of risk involved, especially when talking about cheaper stocks. However, with this risk comes the potential for greater reward if your trading thesis is correct.
The most important thing to keep in mind is to have a plan in place before you jump into things. Understand the specific catalysts that might be in play now or in the future so that you’re ready for whatever comes next. In this case, traders on Webull weighed on their outlook. Do you agree or disagree? Leave a comment below.