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What Are the Top Penny Stocks to Watch Right Now?

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Summary：Discover the top penny stocks to watch right now, including Genius Brands, Plug Power, and Novavax. Learn investment strategies to minimize risks and maximize rewards.

What are the Top Penny Stocks to Watch Right Now?

Penny stocks are low-priced stocks that are traded outside of the major stock exchanges. They are generally considered to be high-risk investments, but they can also offer high rewards. If you are looking to invest in penny stocks, here are some of the top penny stocks to watch right now:

1. Genius Brands International Inc. (GNUS)

Genius Brands International Inc. is a children's media company that creates and licenses animated content. The company's stock has been on the rise since it launched its new streaming platform, Kartoon Channel!, in June 2020. The stock has also been boosted by the company's partnership with Stan Lee's POW! Entertainment.

2. Plug Power Inc. (PLUG)

Plug Power Inc. is a provider of hydrogen fuel cell solutions. The company's stock has been on the rise due to the increasing interest in clean energy solutions. Plug Power has also announced several new partnerships and deals, including a new deal with Walmart to provide hydrogen fuel cell solutions to its distribution centers.

3. Novavax Inc. (NVAX)

Novavax Inc. is a biotech company that is developing vaccines for a variety of diseases. The company's stock has been on the rise due to its work on developing a COVID-19 vaccine. Novavax has received funding from the U.S. government to develop its vaccine, and the company has reported positive results from its clinical trials.

Investment Strategies for Penny Stocks

Investing in penny stocks can be risky, but there are strategies that you can use to minimize your risks and maximize your rewards. Here are someinvestment strategiesfor penny stocks:

1. Do your research

Before investing in any penny stock, it's important to do your research. Look at the company's financial statements, earnings reports, and news releases. Research the company's management team and its competitors. This will give you a better understanding of the company's financial health and its potential for growth.

2. Diversify your portfolio

Investing in penny stocks can be risky, so it's important to diversify your portfolio. This means investing in a variety of stocks across different industries and sectors. By diversifying your portfolio, you can spread out your risk and minimize your losses.

3. Set a stop-loss order

A stop-loss order is an order to sell a stock if it reaches a certain price. This can help you limit your losses if a stock starts to decline. Set a stop-loss order at a price that you are comfortable with, and stick to it.

Conclusion

Investing in penny stocks can be a high-risk, high-reward proposition. But by doing your research, diversifying your portfolio, and setting a stop-loss order, you can minimize your risks and maximize your rewards. Keep an eye on the top penny stocks to watch, and be prepared to act quickly if you see an opportunity. With the right investment strategy, penny stocks can be a great way to grow your wealth.

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