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3 Top Penny Stocks To Buy For Under $1 This Week

You’ll typically find that the definition of a penny stock refers to shares of companies trading below $5. But based on popular opinion, most would consider these cheap stocks trading for pennies. So in today’s article, we’ll take a closer look at a few penny stocks that can be bought for under $1. Best of all, they’re listed on the Nasdaq and NYSE, which means you can look them up on popular mobile trading apps.

Penny Stocks TL;DR Summary

Penny stocks are very risky but the rewards can be massiveWhile the standard definition of penny stocks refers to $5 as a threshold, many retail traders are hunting for stocks trading for penniesCheaper penny stocks can be volatile but it may only take a few cents to reap hefty rewardsThese cheaper penny stocks also don’t require that much price depreciation to crush your accountToday we look at a few penny stocks under $1 to watch this week

The most important thing to remember when looking at cheaper penny stocks is volatility plays a significant role. The lower the price, the less it takes for position value to shift. A penny stock trading for $4 can move 40 cents before realizing a 10% change. When it comes to the stock trading for $1, that same 40 cent move can either be a crushing blow or a considerable windfall. Today we’ll look at a handful of penny stocks under $1 to watch this week.

Penny Stocks Under $1 To Watch This Week

Flotek Indusries (NYSE: FTK)Tantech Holdings Ltd. (NASDAQ: TANH)Bit Brother Ltd. (NASDAQ: BTB)

Flotek Indusries (NYSE: FTK)

Flotek specializes in solutions to help the energy industry become more environmentally friendly. In particular, the company’s technology is used to develop cleaning, disinfecting, and sanitizing products focusing on commercial, government, and consumer sectors. It also offers data solutions to help energy companies adapt to real0time changes in hydrocarbon streams serving downstream, midstream, and upstream customers.

Read: These 3 Penny Stocks Exploded Today, Here’s Why

It isn’t pretty if you’re looking at the FTK stock chart. Most of the year has seen the penny stock slowly drop from above $2 to below $1. Earlier this week, Flotek shares reached new 52-week lows of $0.53. So why would this be something traders watch this week?

On December 27th, the company announced receipt of an unsolicited indication of interest for a potential transaction. What does this mean? Flotek said it was approached for a deal involving all or part of the company. While no further comment was made, the company hired an advisory firm to help the Board through this evaluation process. As a result, speculation has begun flowing through the market, and FTK stock is back on the radar after trading some of its highest volumes in months.

Tantech Holdings Ltd. (NASDAQ: TANH)

Another one of the companies on this penny stocks list battling back from a bearish year is Tantech Holdings. Following news of a new factoring agreement valued at roughly USD 7.8 million, TANH stock surged to highs of nearly $1.60. But a report of a multi-million dollar offering at a steep discount to the market price put a huge road bump in the way. This ultimately would result in TANH stock plummeting below the $1 threshold.

One of the more prominent focus points for the company and the market is Tantech’s automobile sales arm. December has become a very active month of progress as things kicked off with a new order for 12 driverless street sweepers for use in China. According to the company, each vehicle has a manufacturer’s suggested retail price of just over $47,000USD.

The company also won a new order for its midibus vehicles in South America. The diesel light midibuses were designed as a luxury staple and seat 18 passengers. The critical piece of this latest deal is that it adds to the growing list of sales milestones Tantech has reached before 2022. With this, it also looks like TANH stock has gotten wrapped into the latest trend focusing on low float penny stocks. Heading into the remainder of the year, it will be interesting to see if it can reclaim its levels before news of its latest financing.

Bit Brother Ltd. (NASDAQ: BTB)

Bit Brother is another speculative industry play for some. The company doesn’t typically release much news. However, of the information available, BTB stock has come into the fold with other cryptocurrency and blockchain penny stocks.

Earlier this year, Bit Brother announced an LOI to acquire the controlling interest of Angelo’s Pizza. The company mentioned expanding its reach into international markets with a cryptocurrency angle via Bitcoin payment methods.

Read: Short Squeeze Penny Stocks To Buy For Under $5 If You Like Risk

While there are many more questions than answers surrounding the progress of the company’s operations, other factors have come into play. This doesn’t just involve the attention on cheap penny stocks under $1. There’s also a clear trend, once again, with low float penny stocks that BTB seems to have also gotten caught up in. So with little to go on and more market sentiment as a catalyst, it may be something to keep in mind if BTB is on your list of penny stocks right now.

Penny Stocks Under $1

These are just a handful of penny stocks under $1 gaining attention this week. Things tend to get quite active with the end of the year upon us. Assuming that tax-loss selling is in the rear-view and the market has some semblance of understanding about the latest virus variant, it will be interesting to see if the Santa Claus rally continues into January. For now, when it comes to the names on this penny stocks list, momentum seems to have already come insuring the final days of December.

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