Why These Penny Stocks Have High Volume Right Now
Finding penny stocks with high volume can be a great way to make a watchlist in 2022. And while volume can be a useful indicator for different metrics, there are others that should also be taken into consideration. But, to understand why volume is important, we have to take a look at what we can infer from using it as a data point.
Using Volume to Find Penny Stocks to Buy
For those unfamiliar, volume has a direct correlation with how popular a penny stock is. This is because volume is the amount of shares traded in a given day. And while volume on a single day may not be enough information, if we compare that number to previous daily volumes, we can begin to identify trends.
[Read More] 5 Hot Meme Stocks To Buy For Pennies Right Now
For example, if a penny stock has an average volume of 1 million, and the next day it trades over 10 million, there is clearly a factor at play. This could be anything from popularity of a given stock on social media to a company wide announcement or balance sheet release. But understanding what is causing the movement, is paramount to making money with penny stocks.
So, while volume is not nearly the only indicator used to find penny stocks to buy, it can be very helpful in deducing which companies could be worth looking into. With that in mind, let’s take a look at three penny stocks that investors are watching with high volume right now.
3 Penny Stocks With High Volume That Investors Are Watching
Phunware Inc. (NASDAQ: PHUN)
With a 5% gain at midday, Phunware is once again the focus of many investors. In the past six months, shares of PHUN stock have climbed by over 169%, including a more than 400% gain in mid-October of last year. While shares have since corrected slightly, there’s no doubting the popularity of Phunware right now.
The main reason behind Phunware’s rise comes with its relationship to Digital World Acquisition Corp. (NASDAQ: DWAC). If you’re not familiar, this is an SPAC that is set to take merge with Trump Media & Technology to take Donald Trump’s social media company public. Back in the 2020 presidential election, Phunware built the mobile application for the Trump campaign. And as a result, many investors are speculating that it could become involved in the DWAC merger.
If all that isn’t enough, the company is also heavily involved in the crypto industry, buying up Bitcoin several times over the past few months. So, while the latest moves from PHUN stock are highly speculative, there’s no doubting the interest that investors have in the company. Whether this makes PHUN stock worth adding to your penny stocks watchlist however, is up to you.
FuelCell Energy Inc. (NASDAQ: FCEL)
Another decent mover of the day so far is FCEL stock, pushing up by around 2% at midday. Despite a 30% drop in the last month we are seeing a slight bullish turnaround with FCEL stock. Now, it’s hard to say if this shift can continue to occur, but, to understand this further, let’s take a closer look at the company. Interestingly enough, the company expects its revenue to grow by over 109% for the fiscal 2022 year. This would be due to both heightened module sales as well as expanding its top line.
While many analysts claim that FCEL is a hold rather than a buy, others believe that the long term future of the sustainable energy market has a lot of promise. Fuel Cell is a leader in renewable energy tech and produces products that aid in the adoption of solar, wind, and other turn-key distributed power generation products. And recently, the company announced that it has achieved conditional commercial operation at its Long Island SureSource fuel cell project.
“We are excited to be in commercial operation of our fuel cell platform in the Town of Brookhaven, New York. We are executing on our promise to enable electrical resiliency and to deliver needed clean base load power to central Long Island, while reducing above ground risk associated with long distance high voltage transmission lines.
Utilizing three of our fuel cell platforms, we will deliver to the grid 24/7 power that is enough to power approximately 7,500 homes from a footprint slightly larger than a couple of tennis courts.”The CEO of FuelCell, Jason Few
This is all highly encouraging news and should be kept in mind for all investors. With that considered, is FCEL stock worth buying or not?
Ocugen Inc. (NASDAQ: OCGN)
OCGN is a popular penny stock that has shown higher than average volume over the past few weeks. With a 1.75% gain by midday on January 20th, shares of OCGN stock are up by over 69% in the past year.
While it has declined from over $15 per share in November, some believe that Ocugen could be worth keeping an eye on. Only a week or so ago, the company announced that its Covid-19 vaccine booster proved to be effective against the Omicron variant. For some context, this vaccine was developed by Bharat Biotech, which is a partner of Ocugen.
Right now, there is a major amount of positive emphasis on any company that has involvement in treating Covid. And because of this, OCGN stock has received a sizable amount of attention in the past few weeks and months. Considering all of this, do you think that OCGN stock is worth adding to your penny stocks watchlist?
Which Penny Stocks Are You Watching Right Now?
With such a wide array of penny stocks to choose from in 2022, investors have to be picky about the stocks they plan to buy. Right now, factors such as inflation, the U.S. economy at large, and certain geopolitical events, are all impacting how penny stocks trade.
Because of this, staying as up to date as possible with everything going on in the stock market, will be crucial to making money with penny stocks. And although it can be challenging given the sheer amount of volatility at play right now, with the right strategy, it can be much easier than previously imagined. Considering all of this, which penny stocks are you watching right now?
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5 Top Consumer Stocks To Watch Right Now
Are these consumer stocks a buy amid the earnings season?
The post 5 Top Consumer Stocks To Watch Right Now appeared first on Stock Market News, Quotes,…
5 Trending Consumer Stocks To Watch In The Stock Market Now
As we tread through the earnings season, consumer stocks could be worth watching in the stock market this week. This would be the case since a number of big consumer names such as Costco (NASDAQ: COST) and Macy’s (NYSE: M) will be posting their financials for the quarter. As such, investors will be keeping an eye on these reports for clues on the strength of consumer spending amid this period of high inflation.
However, despite the soaring prices across the economy, it seems that consumers are surprisingly showing resilience. According to the Commerce Department, retail sales in April outpaced inflation for a fourth straight month. This could suggest that consumers as a whole were not only sustaining their spending, but spending more even after adjusting for inflation. Ultimately, it could be a reassuring sign that consumers are still supporting the economy and helping to diminish the narrative of an incoming recession. With that being said, here are five consumer stocks to check out in the stock market today.
Consumer Stocks To Buy [Or Sell] Right Now
- Nordstrom Inc. (NYSE: JWN)
- The Wendy’s Company (NASDAQ: WEN)
- Foot Locker Inc. (NYSE: FL)
- Tyson Foods Inc. (NYSE: TSN)
- DoorDash Inc. (NYSE: DASH)
Starting off our list of consumer stocks today is Nordstrom. For the most part, it is a fashion retailer of full-line luxury apparel, footwear, accessories, and cosmetics among others. The company operates through multiple retail channels, boutiques, and online as well. As it stands, Nordstrom operates around 100 stores in 32 states in the U.S. and three Canadian provinces.
Yesterday, the company reported its financials for the first quarter of 2022. Starting with revenue, Nordstrom pulled in net sales worth $3.47 million for the quarter. This marks an increase of 18.7% from the same quarter last year. Its Nordstrom banner saw net sales rise by 23.5% year-over-year, exceeding pre-pandemic levels. Next to that, its Nordstrom Rack banner saw a 10.3% increase in net sales from last year. Besides, net earnings were $20 million, with earnings per share of $0.13 for the quarter. Considering Nordstrom’s solid quarter, should you invest in JWN stock?
The Wendy’s Company
Next up, we have The Wendy’s Company. For the most part, it is the holding company for the major fast-food chain, Wendy’s. Being one of the world’s largest hamburger fast-food chains, the company boasts over 6,500 restaurants in the U.S. and 29 other countries. The chain is known for its square hamburgers, sea salt fries, and the Frosty, a form of soft-serve ice cream mixed with starches. WEN stock is rising by over 8% on today’s opening bell.
According to an SEC filing, Wendy’s largest shareholder, Trian Partners, is looking into making a potential deal with the company. Trian said that it is considering a deal to “enhance shareholder value.” Also, the firm adds that this could lead to an acquisition or business combination. In response, Wendy’s stated that it is constantly reviewing strategic priorities and opportunities. It added that the company’s board will carefully review any proposal from Trian. Given this piece of news, will you be watching WEN stock?
Another stock investors could be watching is the shoes and apparel company, Foot Locker. In brief, the company uses its omnichannel capabilities to bridge the digital world and physical stores. As such, it provides buy online and pickup-in-store services, order-in-store, as well as the growing trend of e-commerce. Some of its most notable brands include Eastbay, Footaction, Foot Locker, Champs Sports, and Sidestep. Last week, the company reported its results for the first quarter of the year.
For starters, total sales came in at $2.175 billion, a slight uptick compared to sales of $2.153 billion in the year prior. Next to that, Foot Locker reported a net income of $133 million. Accordingly, adjusted earnings per share came in at $1.60, beating Wall Street’s expectations of $1.54. CEO Richard Johnson added, “Our progress in broadening and enriching our assortment continues to meet our customers’ demand for choice. These efforts helped drive our strong results in the first quarter, which will allow us to more fully participate in the robust growth of our category going forward.” As such, is FL stock one to add to your watchlist?
Tyson Foods is a company that built its name on providing families with wholesome and great-tasting protein products. Its segments include Beef, Pork, Chicken, and Prepared Foods. With some of the fastest-growing portfolio of protein-centric brands, it should not be surprising that TSN stock often comes to mind when investors are looking for the best consumer stocks to buy.
Earlier this month, Tyson Foods provided its fiscal second-quarter financial update. The company’s total sales for the quarter were $13.1 billion, representing an increase of 15.9% compared to the prior year’s quarter. Meanwhile, its GAAP earnings per share climbed to $2.28, up 75% year-over-year. According to Tyson, these financial figures are a reflection of the increasing consumer demand for its brands and products. To top it off, the company was also able to reduce its total debt by approximately $1 billion. Thus, does TSN stock have a spot on your watchlist?
DoorDash is a consumer company that operates an online food ordering and delivery platform. In fact, it is one of the largest delivery companies in the U.S. and enjoys a huge market share. The company connects hundreds of thousands of merchants to over 25 million consumers in the U.S., Canada, Australia, and Japan through its local logistics platform. Accordingly, its platform allows local businesses to thrive in today’s “convenience economy,” as the company puts it.
On May 5, the company reported its first-quarter financials for 2022. Diving in, it posted a revenue of $1.5 billion, growing by 35% year-over-year. This was driven by total orders that grew by 23% year-over-year to $404 million. Along with that, it reported a GAAP gross profit of $662 million, an increase of 34% year-over-year. The company said that it added more consumers than any quarter since Q1 2021, due in part to the growth of its DashPass members. The growth in Monthly Active Users and average order frequency has helped it gain share in the U.S. Food Delivery category this quarter as well. Given DoorDash’s performance for the quarter, should you watch DASH stock?
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Finding Shelter in an Inverse ETF
As the old saying goes, “What goes up must come down.” Indeed, up until the recent selling wave caused by Russia’s war against Ukraine and the continued…
As the old saying goes, “What goes up must come down.”
Indeed, up until the recent selling wave caused by Russia’s war against Ukraine and the continued effects of supply chain disruptions amid the COVID-19 pandemic, tech stocks, including semiconductors, were the darlings of the investment world. That is, it seemed as if the sky-high valuations of some tech stocks were sustainable in an atmosphere of seemingly perpetual growth.
That, of course, was not the case, and the too-good-to-be-true valuations were quickly brought down to earth by the forces of inflation and tight monetary policy. As a result, the tech-heavy Nasdaq entered a free-fall that has not yet found a bottom.
At the same time, that does not mean that we should abandon the sector as a lost cause. One such way to play the sector during its downhill slide is the exchange-traded fund (ETF) Direxion Daily Semiconductor Bear 3X Shares (NYSEARCA: SOXS).
As its title suggests, this is an inverse ETF, meaning that it is built to go up in value when its parent index goes down. Specifically, SOXS provides three times leveraged inverse exposure to a modified market-cap-weighted index of semiconductor companies that trade in American markets by using swap agreements, futures contracts and short positions.
While the index’s holdings are weighted by market capitalization, the fund’s managers cap the weights of the top five securities in the portfolio at 8% each. The weight of the remaining securities is capped at 4% each.
As of May 24, SOXS has been up 0.37% over the past month and up 24.73% for the past three months. It is currently up 60.47% year to date.
Chart courtesy of www.stockcharts.com
The fund has amassed $258.15 million in assets under management and has an expense ratio of 1.01%.
In short, while SOXS does provide an investor with a way to invest in an inverse ETF, this kind of ETF may not be appropriate for all portfolios. Thus, interested investors always should conduct their due diligence and decide whether the fund is suitable for their investing goals.
As always, I am happy to answer any of your questions about ETFs, so do not hesitate to send me an email. You just may see your question answered in a future ETF Talk.nasdaq stocks pandemic covid-19 monetary policy etf russia ukraine
Will Albertsons outperform due to its high return on equity for low beta?
Albertsons Companies Inc. (NYSE:ACI) is trading at $29. The stock has risen 81.25% from the IPO in the last quarter of 2020. In the two years since going…
Albertsons Companies Inc. (NYSE:ACI) is trading at $29. The stock has risen 81.25% from the IPO in the last quarter of 2020. In the two years since going public, Albertsons Companies paid dividends each quarter. The annual dividend currently stands at $0.48, with a yield of 1.64%.
Albertsons is rated high on both value and growth. The company’s heritage has been built over the years since its founding in 1939. Today, the company is the second-largest traditional grocer in the US.
The company went public during a pandemic to fund new growth opportunities. However, it faces the headwinds of inflation and bear markets. Despite pressures, Albertsons will be among the few stocks that will outperform the market.
The ROE stands at 74.48%. This is a fundamental strength that should make investors troop to Albertsons. The EPS is at $2.8 and growing at more than 6.13%. At the valuation of $29, the PE is just about 10. All this for a beta of only 0.3, indicating a low risk.
Albertsons has support at $26.80 and resistance at $36.75
Albertsons has support at $26.80. This week, the stock has been bullish, having gained 7.82%. It is among a handful of stocks that have been braving the bear markets. This analysis projects that the stock will face some resistance at $36.75. However, it would break out at the next earnings release on July 28. If an investor were to take a position today, there is the likelihood of enjoying significant gains by the next earnings call.
Albertsons is an attractive value and growth stock. The share is trading at $29 with a price target of $36 by the end of July. Albertsons is also emerging as an attractive dividend stock.
The post Will Albertsons outperform due to its high return on equity for low beta? appeared first on Invezz.stocks pandemic
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