If you are interested in investing in penny stocks, it is important to focus on key fundamentals before making a decision. These fundamentals include earnings numbers, business models, product pipelines, and the market the company operates in. Paying attention to volume, especially volume spikes, is also crucial as volume often precedes price movements.
One example of a penny stock experiencing a significant increase in volume without any news is Zapp Electric (NASDAQ: ZAPP). The stock saw a rapid increase in volume over a few days, leading to a sharp rise in price. However, as volume starts to fade, the stock is now starting to pull back, which could result in losses for investors who chased the stock.
Instead of chasing risky penny stocks like Zapp Electric, consider investing in safer options such as Kazia Therapeutics (NASDAQ: KZIA). Kazia Therapeutics recently posted positive Phase 2/3 results for its drug paxalisib in the treatment of glioblastoma, showing promising improvements in overall survival rates. The company is now seeking accelerated approval from the U.S. FDA based on these results.
Another potential penny stock to consider is Curaleaf Holdings (OTCMKTS: CURLF). With strong support for legalization in the U.S., particularly in states like Florida, Curaleaf Holdings could see significant growth opportunities in the cannabis market. The company’s CEO also highlights key catalysts that could drive growth in the future.
Lastly, Plug Power (NASDAQ: PLUG) is a hydrogen stock that has shown resilience despite recent challenges. The company has deployed hydrogen refueling stations in Europe and has made progress on various projects in the U.S. and Europe. Changes to industry tax credits could also benefit Plug Power and other hydrogen stocks in the future.
It is important to note that investing in penny stocks carries risks, and it is essential to conduct thorough research before making any investment decisions. Always be cautious of low-volume stocks, as they can be manipulated by scam artists.