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Best Penny Stocks to Watch This Week – November 22, 2021

You may ask yourself, “what are penny stocks, and should I invest in them?”. Penny stocks are common shares of smaller publicly traded companies that trade for less than $5 per share. Due to their incredibly low prices, an investor may hold thousands of shares for a fairly low amount of money.

Penny stocks frequently trade outside of the key stock exchanges (like the NYSE or NASDAQ) because they have listing criteria, including a minimum share price. Here are the top penny stocks investors should keep a lookout for this week.

5 Best Penny Stocks to Watch 

The possibility for extremely high profits is the single most appealing feature of penny stocks. There are also many risks, so before you start investing in penny stocks, learn more about how they operate on the market.

Here are the 5 best penny stocks to watch out for this week that you can buy:

1. Livechain Inc. – Up 87.14%

Livechain Inc. (OTC: LICH). This organization is in the software business. It is engaged in the development of live streaming technology for distribution and the use of public chain technology.

Livechain Inc started the day trading at a price of $0.0262 with a volume of 47.32M shares.

2. Forwardly Inc. – Up 57.23%

Forwardly Inc. (OTC: FORW). This is a holding corporation with the goal of investing in, acquiring, and managing a diverse portfolio of profitable, growth-oriented businesses. The corporation was established on September 27, 2005, in Boulder City, Nevada, and is headquartered there.

Forwardly Inc started the day trading at a price of $0.0978 with a volume of 18.73M shares. 

3. HUMBL Inc. – Up 47.57%

HUMBL Inc. (OTC: HMBL). This is a platform that will connect consumers and merchants in the digital economy smoothly through its HUMBL Marketplace. By integrating numerous currencies, payment options, and wealth management, HUMBL Mobile Applications will provide more efficient global transactions.

HUMBL Inc started the day trading at a price of $0.5941 with a volume of 26.39M shares.

4. One World Universe Inc. – Up 23.71%

One World Universe Inc. (OTC: OWUV). This is a California-based benefits company whose business aims to undertake global humanitarian activities by using earnings from product and service sales to enhance the lives of individuals living in the hardest settings and their communities.

One World Universe Inc started the day trading at a price of $0.024 with a volume of 8.24M shares. 

5. FedNat Holding Company – Up 18.08%

FedNat Holding Company (NASDAQ: FNHC). This is a company that sells property and liability insurance. Through a group of independent and general agents, the company markets and sells its own and third-party insurers’ products and other services.

FedNat Holding Company started the day trading at a price of $2.09 with a volume of 12.98M shares.

How To Buy Penny Stocks

Buying penny stocks can be done in a few simple steps. If you understand the risks involved and want to get started, follow the steps below.

1. Research Companies  

Using stock screening tools is a common approach that investors use to find the best penny stocks to invest in. The simplest method to narrow them down is to screen for stocks with a price of less than $1. You may then narrow the selection further based on your portfolio and investment goals.

2. Select a Brokerage 

If you do not have an existing brokerage account set up, you must first select one that suits you. Here are some of the most popular brokerages for penny stocks:

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  • Charles Schwab: With its regular stock trading accounts, Charles Schwab provides penny stock trading, allowing customers to trade Over-the-Counter Bulletin Board (OTCBB) and Pink Sheet securities online via the Schwab online platform and smartphone app. The fee for penny stock trading is $4.95 each trade
  • Robinhood: On its brokerage platform, Robinhood provides hundreds of different penny stocks. They provide their customers with the tools they need to control risk and trade penny stocks in a convenient and easy manner.  Robinhood even has a mobile stock trading application that allows you to trade penny stocks and charges no fees for trading penny stocks
  • Fidelity: The broker’s stock screener may look for penny stocks that trade on over-the-counter platforms. Fidelity also does not charge any additional fees for trading penny stocks, and there are no specific account requirements. Customers of Fidelity Investments pay the broker’s standard $0 commission on penny stock transactions. Orders may be placed using the company’s website or smartphone app 

3. Open Your Trading Account

You must first create a trading account before you can purchase and sell penny stocks. This can all be done online, and the process is cheap and simple.

Make sure the penny stock companies you’re interested in are reputable before opening a trading account with any brokerage you think could be appropriate for you. Do your homework and research each firm.

4. Make a Deposit & Purchase Penny Stocks

After you’ve linked a valid payment method to your account, you’ll need to deposit cash in order to buy penny stocks. After your account has been fully activated, you may begin investing.

5. Monitor Your Performance

It’s important to closely monitor your penny stock investments after you invest. Each brokerage offers different stock screeners and applications that help you monitor the specific details of each of your investments.

Finding the Best Penny Stocks to Buy Right Now

If you’re thinking about participating in penny stocks, be sure you’re doing it as part of a broader investment plan. Never put money into penny stocks that you can’t afford to lose. It’s important to find the best penny stocks on the market that can help you find massive returns on your investment

  • High Relative Trading Volume: When a stock has a greater relative volume, it is more active because more traders are monitoring and exchanging it. It is critical to avoid illiquid penny stocks. The majority of penny stocks trade merely a couple thousand shares each trading day.
  • Float: The quantity of shares accessible for trading on the open market is referred to as floating stock. Low float penny stocks are extremely appealing due to their potential for extraordinary success. Stocks with a high float are less volatile and more consistent.
  • Company News: It’s important to follow the latest news and update for any penny stocks you plan to invest in. Examining news articles and press releases is an excellent approach to conduct research on a penny stock firm.

Should You Invest in Penny Stocks?

Investors who prefer penny stocks see them as having numerous appealing characteristics, including a cheap stock price that allows them to purchase a large number of shares and the possibility for large returns. It is always wise to understand the risks involved with penny stocks.

Every investor would be wise to research companies and only invest what they can lose. Interested investors should consider consulting with a financial advisor to help you start investing in penny stocks.

Frequently Asked Questions

Can you get rich off of penny stocks?

It is true that penny stocks may make you a huge amount of money. The problem is that penny stocks constantly rise and drop by large amounts. Technically, investing in penny stocks can potentially make you rich, but it is very improbable.

Are penny stocks high risk?

Penny stocks are high-risk investments with small market valuations that trade at a cheap price. If you’re thinking about investing in penny stocks, be sure you’re doing it as part of a larger investment strategy.

How can I invest $1,000 in penny stocks?

If you intend to invest $1,000 in penny stocks, it may be wise to diversify your investments over many stocks in several sectors. Before you start investing in penny stocks, you need to understand how they function and the risks involved.

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