Like an overall general business environment, blue chips and under $1 stocks have felt the huge effect from Covid-19. It appears the disease isn’t over yet, as new strains have been noticed around the world.
These fears have subsequently increased volatility and uncertainty in the financial markets. Nonetheless, blue-chip stocks remain flat, but stocks under $1 have made gains in recent weeks. Because penny stocks don’t have any rules, it is relatively easy to make intraday gains.
As under-$1 stocks are volatile, they are speculative investments, so buying them is a way to take advantage of stock market fluctuations.
The unpredictable nature of penny stocks makes them risky investments, so understanding their volatility is crucial.
Research on relevant investments should be used to make investment decisions. Once you understand the metrics and fundamentals, penny stocks can be as profitable as Fortune 500 investments. You can consider these stocks when building your portfolio because they are among the best stocks under $1.
Weidai Ltd. (WEI) has advanced 6.67% at $0.96 in pre-market trading hours on the last check Thursday. The stock of WEI gained 14.93% to complete the last trading session at $0.90. The price range of the company’s shares was between $0.75 and $0.9458. It traded 1.43 million shares, which was below its daily average of 2.22 million shares over 100 days. WEI’s shares have gained by 19.84% in the last five days, while they have added 11.14% in the last month.
A recent spot check on the stock’s support and resistance revealed that the publicly traded Weidai Ltd. (NYSE: WEI) shares are trading at a price close to -25.00% lower than its 90-day high. On the other hand, the stock is +24.98% away from its low in the 90-day period. More broadly, WEI’s current price is -83.61% away from a 52-week high. The price is 24.98% above from its 52-week low.
Check-Cap Ltd. (CHEK) is soaring on the charts today, down -0.21% to trade at $0.948 at last check in premarket trading. On Wednesday, shares in Check-Cap Ltd. rise 14.03% to close the day at $0.95. The volume of shares traded was 2.95 million, which is higher than the average volume over the last three months of 932.08K. During the trading session, the stock oscillated between $0.8304 and $0.9829. The company had an earnings per share ratio of -0.35. CHEK’s stock has gained 11.65% of its value in the previous five sessions and 1.60% over the past one month, but has gained 106.52% on year-to-date basis. The stock’s 50-day moving average of $0.9619 is above the 200-day moving average of $1.3966. Moreover, the stock is currently trading at an RSI of 57.16.
Wall Street analysts track the Check-Cap Ltd. (NASDAQ: CHEK) stock on daily basis. Out of 1 analyst, 1 deeming the stock a Buy and 0 gave it a rating of OVERWEIGHT. Another 0 recommended that chek is a HOLD, while 0 rated it UNDERWEIGHT and the 0 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 2.50.
IT Tech Packaging Inc. (AMEX: ITP) is currently trading at around $0.38, a price level that means its value has jumped 16.36% higher than its 52-week low. In intraday trading, ITP shares have hit a high of $0.38 and a low of $0.36. The last 52 weeks have seen the company’s shares touched a high of $1.45 and a low of $0.33, while the recent trading session has witnessed an intraday change of just 6.70%.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In the recently reported quarter, the current ratio recorded by IT Tech Packaging Inc. was 3.70 while posting a debt to equity ratio of 0.08. The count was 0.03 for long-term debt to equity ratio.