Best Penny Stocks Today? 4 To Buy For Under $1 According To Reddit
Penny stocks are well known for their volatility. They’re also known for producing big wins for investors who are willing to take on high-risk trades. This week, the broader markets have gotten off to another choppy start, but that doesn’t seem to have become a concern for small- and micro-cap traders on social media.
Since the onset of the pandemic, social sentiment has become something to factor into the due diligence process. While it isn’t the only thing to base your trading decisions on, it carries weight for retail traders. Whether it’s a post on Twitter or Reddit, message platforms have grown in popularity over the last few years. Today we look at a handful of some of the lowest-pricedpenny stocksgaining popularity on social outlets. Whether they become the behemoths that some traders expect is to be seen. Let’s take a deeper dive and see what might have attracted the interest other than low prices.
Penny Stocks To Buy For Under $1
Brickell Biotech Inc. (NASDAQ: BBI)
IT Tech Packaging Inc. (NYSE: ITP)
Palatin Technologies Inc. (NYSE: PTN)
Agile Therapeutics Inc. (NASDAQ: AGRX)
Buying Penny Stocks Under $1
Penny stocks are inherently risky due to lower prices. But when you’re talking about stocks under $1, there are other things to factor in. The biggest is whether or not they are accessible on a given trading platform. Since the majority of the cheapest penny stocks in the market areOTC penny stocks, platforms like Robinhood or Webull don’t allow access to clients. Does that mean there’s no way to buypenny stocks under $1? No, and there are plenty of them trading on major exchanges like the NYSE and NASDAQ.
1. Brickell Biotech Inc. (NASDAQ: BBI)
Biotech stocks have experienced their fair share of negative sentiment. However, that hasn’t been the case for all companies in this industry. Brickell Biotech, for example, has enjoyed a solid rally over the last few sessions as investors hunt for cheap penny stocks. The company’s update in March has helped build some speculatively bullish sentiment in the market.
What’s Going On With BBI Stock?
Brickell announced that it is looking to expand its immunology and inflammation treatment pipeline following the acquisition of rights to its BBI-02 candidate. It’s expected that the initiation of a Phase 1 study for BBI-02 is still on track for this quarter in treating autoimmune and inflammatory diseases.
In Brickell’s March update, CEO Robert Brown explained, “We believe 2022 is shaping up to be a pivotal year for Brickell, and we look forward to providing updates on our progress across these exciting programs in the coming months.”
This year, Brickell also expects to submit a New Drug Application to the FDA for its sofpironium bromide gel. The candidate is being developed as a potential treatment of primary axillary hyperhidrosis.
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2. IT Tech Packaging Inc. (NYSE: ITP)
The early days of the pandemic saw shelves bare of most household necessities. But no other product was selling faster than toilet paper. In that light, IT Tech Packaging became a brief retail trading darling based on its business model. At one point, shares reached highs of over $1.40.
The company manufactures and distributes paper products in North China.
What’s Going On With ITP Stock?
Last month, IT Tech reported earnings but had been relatively quiet since that update. Earnings per share for the fourth quarter were $0.07, which were up significantly from 2021’2 Q4 EPS loss of 6 cents per share. Meanwhile, sales were up year-over-year at $45.05 million compared to $32.48 million.
Given the rise of virus cases and lockdowns in China, speculation has begun to once again buzz around companies like IT Tech. China’s recent wave of cases forced stay-at-home orders in Shanghai recently. With new reports coming out over the weekend, ITP stock has reacted bullishly.
3. Palatin Technologies Inc. (NYSE: PTN)
Another one of the volatile penny stocks under $1 is Palatin Technologies. The company develops treatments that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its recent focus (no pun intended) has been treating patients with dry eye disease. There’s a Phase 3 trial of its PL9643 platform in dry eye disease patients.
What’s Going On With PTN Stock?
There was a Key Opinion Leader webinar held last month discussing PL9643. What traders might be looking at next is the outcome of the current trial. According to Palatin, the study will enroll up to 400 patients in the U.S. Top-line results are expected to come out during the second half of this year.
4. Agile Therapeutics Inc. (NASDAQ: AGRX)
Despite a long string of selling pressure, the last week has become incredibly active. Agile sold off its net operating loss tax benefits earlier this month for $4.7 million, which helped boost things. Meanwhile, the company’s Twirla transdermal patch remains a core point of interest for the market.
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What’s Going On With AGRX Stock?
Twirla is Agile’s hormonal contraceptive patch indicated for use by women. Late last week, the company presented at an event on the Twirla Patch, which may have become a catalyst heading into this week. Furthermore, in Agile’s recent Q1 prescription data update on the 14th, CEO Al Altomari explained, “We believe we have a brand that is building steady growth momentum, which we saw continue in the prescription demand data for the first quarter 2022…This growth is consistent with what we reported for the fourth quarter 2021, and we continue to believe we are seeing signs of a healthy, growing brand.”
With this backdrop, AGRX stock has been one of the more actively discussed names on social media this week.
Penny Stocks Under $1 To Watch Right Now
Are penny stocks worth it? This is a question I’m sure you might’ve asked yourself at one point or another. A lot of the “worth” comes down to your trading style. Are you able to handle higher volatility? Can you manage risk easily? Do you have a trading plan in mind and profit targets set? These are some good questions to have answers to. Also, as to how to tradeReddit penny stocks, consider that social buzz is just one of many things to factor in right now.
- Original Document
IT Tech Packaging Inc. published this content on 18 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 April 2022 16:53:11 UTC.