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What Are the Top Hot Penny Stocks to Watch?

Paul RyanVerified
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Summary：Discover the top hot penny stocks to watch, including Novavax Inc., Sundial Growers Inc., and Zomedica Corp. Learn the risks and tips for investing in penny stocks.

Introduction:

Penny stocks are the stocks that are traded at a low price, usually below $5 per share. These stocks are considered as high-risk investments but can lead to high returns if invested wisely. In this article, we will discuss the tophot penny stocksto watch and some tips on investing in them.

Top Hot Penny Stocks to Watch:

1. Novavax Inc. (NVAX): Novavax Inc. is a biotechnology company that is currently developing a COVID-19 vaccine. The company's stock has seen a significant increase in value due to the current pandemic. The stock is currently trading at around $175 per share, and many analysts predict that it will continue to rise.

2. Sundial Growers Inc. (SNDL): Sundial Growers Inc. is a Canadian cannabis company that produces and distributes cannabis products. The company's stock has seen a lot of volatility in the past year but has recently seen an increase in value. The stock is currently trading at around $0.88 per share, and many analysts predict that it will continue to rise due to the legalization of cannabis in many countries.

3. Zomedica Corp. (ZOM): Zomedica Corp. is a veterinary diagnostic company that develops and commercializes diagnostic tests for pets. The company's stock has seen a lot of volatility in the past year but has recently seen an increase in value. The stock is currently trading at around $0.13 per share, and many analysts predict that it will continue to rise due to the increasing demand for pet healthcare.

Investing in Penny Stocks:

Investing in penny stocks can be risky, but it can also lead to high returns if done wisely. Here are some tips on investing in penny stocks:

1. Do your research: Before investing in any penny stock, it is important to do your research. Look at the company's financial statements, management team, and industry trends before making any investment decisions.

2. Diversify your portfolio: Investing in penny stocks can be risky, so it is important to diversify your portfolio. Invest in multiple penny stocks from different industries to reduce your risk.

3. Don't invest more than you can afford to lose: Investing in penny stocks can be tempting, but it is important not to invest more than you can afford to lose. Only invest money that you can afford to lose without affecting your financial stability.

Conclusion:

Penny stocks can be a high-risk investment but can lead to high returns if invested wisely. Novavax Inc., Sundial Growers Inc., and Zomedica Corp. are some of the top hot penny stocks to watch. Before investing in any penny stock, it is important to do your research, diversify your portfolio, and not invest more than you can afford to lose.

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hot penny stockswatchlistinvesting tipsNovavax Inc.Sundial Growers Inc.Zomedica Corp.
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