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What Are the Top Penny Stocks to Watch Now?

Eva MarcilleVerified
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Summary：Looking for penny stocks? Novavax Inc., Sundial Growers Inc., and Castor Maritime Inc. are all worth watching. These high-risk investments require research and diversification.

Introduction: Understanding Penny Stocks

Penny stocks are stocks that trade below $5 per share in the United States. These stocks are often associated with small companies and startups that are trying to raise capital for growth. Penny stocks are known for their volatility and high-risk nature, which makes them attractive to some investors and risky for others.

What Are the Top Penny Stocks to Watch Now?

If you're interested in investing inpenny stocks, here are some of the top penny stocks to watch now:

1. Novavax Inc. (NVAX)

Novavax Inc. is a clinical-stage biotechnology company that develops vaccines for infectious diseases. The company's stock has been on the rise due to its development of a COVID-19 vaccine candidate. Novavax's stock has risen by over 1,200% in the past year and is currently trading at around $190 per share.

2. Sundial Growers Inc. (SNDL)

Sundial Growers Inc. is a cannabis company that produces and distributes cannabis products in Canada. The company's stock has been volatile in recent months due to the changing regulatory environment for cannabis in the United States. Sundial's stock is currently trading at around $1.30 per share.

3. Castor Maritime Inc. (CTRM)

Castor Maritime Inc. is a shipping company that transports dry bulk goods, such as iron ore and coal. The company's stock has been on the rise due to increased demand for shipping services and a shortage of shipping containers. Castor Maritime's stock is currently trading at around $0.30 per share.

Investment Strategies for Penny Stocks

Investing in penny stocks can be risky, but there are some strategies that you can use to minimize your risk and increase your chances of success:

1. Do your research: Before investing in a penny stock, make sure to do your research on the company's financials, management team, and industry trends.

2. Diversify your portfolio: Don't put all of your money into one penny stock. Instead, invest in a variety of penny stocks to spread out your risk.

3. Set stop-loss orders: Set stop-loss orders to automatically sell your shares if the stock price drops below a certain level. This can help you limit your losses if a stock doesn't perform as expected.

Conclusion

Penny stocks can be an exciting investment opportunity, but they come with a high level of risk. Before investing in penny stocks, make sure to do your research and diversify your portfolio. By following these investment strategies, you can increase your chances of success and minimize your risk.

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penny stocksNovavax Inc.Sundial Growers Inc.Castor Maritime Inc.high-risk investments
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