High Volume Penny Stocks to Buy Now? 3 to Watch Today
Which high-volume penny stocks are you watching right now?
Are These High Volume Penny Stocks Worth Buying in December?
Finding penny stocks to buy with high volume can be a great way to stay ahead of the game. If you’re not familiar, volume is the number of shares bought or sold on any given trading day. While volume is nowhere near the only indicator that those who invest in penny stocks like to use it as a way to see which penny stocks are trending, and which could trend soon. Because volume is a direct tell of interest in a company, it can often define if something has occurred with a stock.
Let’s say that the average volume for a stock is one million. If on a given trading day, volume hits five million, there is likely a reason behind it. While it can often be attributed to news, press releases, or industry-wide announcements, certain times it can be as simple as a tweet or an external cause. Because of this, it’s crucial to understand why volume may be higher than a penny stocks market average.
Right now, we are seeing sizable intraday volume across the board. This is the result of social media’s effects on investing in penny stocks in the past year or two. So, considering all of this, let’s take a look at three high-volume penny stocks to watch right now.
3 High Volume Penny Stocks to Watch Right Now
Phunware Inc. (NASDAQ: PHUN)
Up around 5% at midday are shares of PHUN stock. If you’re not familiar, Phunware is a tech penny stock that has been a large player in the meme stock movement over the past six months. If you’re not familiar, a meme stock is a stock that is highly discussed online, and as a result, they can jump (and fall) in double and triple-digit percentage points.
Recently, PHUN stock climbed on news that it could provide services to the Donald Trump-related SPAC, regarding his new venture, Trump Media & Technology Group. And the Truth Social platform. While that sentiment has faded since, the connection with PHUN stock remains and has caused sizable volatility in the past few months.
In addition to this, Phunware is becoming a decent player in the crypto market, especially through its Lyte Technology Unit, where it sells crypto mining computers. And the company has a large holding of Bitcoin, which amounts to over 529 BTC. At BTC’s price of around $56,000, this comes out to a total of over $29 million in Bitcoin holdings. With its work on its PhunCoin proposition, the company is also moving further into the blockchain and crypto world as we speak. Considering all of this, does PHUN stock deserve a spot on your list of penny stocks to watch?
Farmmi Inc. (NASDAQ: FAMI)
Another big gainer of the day is FAMI stock, which shot up by over 9% by midday on December 2nd. While momentum with FAMI stock has been underwhelming in the past few months, we have seen a slight bullish turnaround in the last few trading days. It’s worth noting that we have consistently covered FAMI stock numerous times in the last six months or so due to its trending nature and high volume.
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If you’re not familiar, Farmmi Inc. is an agricultural company that produces a wide range of edible fungi products. This includes Shiitake mushrooms, Mu Er mushrooms, and more. In addition to traditional sales methods, Farmmi offers its products via an e-commerce store, which greatly broadens its reach.
One of the main issues with FAMI stock in the past few months has been its inability to meet the NASDAQ minimum bid requirement of $1. However, on Thursday, December 2nd, the company announced that it has received an extension through May 30th, 2022, to do so. Considering its current price of $0.25 per share, FAMI does have a long way to go to reach this milestone. However, with its YTD high of over $2.20 per share, anything is possible. With all of that in mind, will FAMI be on your penny stocks watchlist this month?
Meten Holding Group Inc. (NASDAQ: METX)
Up 7% at midday is another penny stock that we’ve covered numerous times in the past few months. Meten Holding Group is a popular company for those interested in a high-volume and high-volatility penny stock. Despite a major drop in value following regulatory measures in China banning for-profit tutoring, shares of METX have begun to show momentum during several recent trading sessions. To have a better understanding of Meten’s business, let’s take a look at its Q3 2021 financial results, which were posted at the end of November. In the results, Meten showed a revenue decrease YoY of 36.59% to $29.2 million. Additionally, it stated that it would be closing around 38 of its offline learning centers by the end of Q3 2021.
“In the third quarter of 2021, we have significantly reduced the number of our offline learning centers to effectively reduce the impact of the resurgence of the Covid-19 pandemic on our offline business operations, improve resource utilization, and prepare for the Company’s business transformation. As a result, the number of learning centers is reduced to one to two in each city.”The CEO of Meten Holding, Alan Peng
While the numbers from its financials may be disappointing, the company could have a lot to offer if it is able to transition in the future. Considering its role in the education market in China, will METX be on your penny stocks watchlist?
Are Penny Stocks Worth Buying in 2021?
Finding penny stocks to buy can be challenging given the sheer number of options out there. However, because there are hundreds of penny stocks to choose from, finding ones that could be profitable is completely doable.
To understand how to make money with penny stocks right now, investors should have a thorough trading strategy and a commitment to consistently researching what’s going on in the world. As a result, investors can begin to understand how events will impact the stocks on their lists. With all of this in mind, do you think that penny stocks are worth buying in 2021?