Whether or not you’re trading penny stocks or higher-priced stocks, you need a broker to place your orders. Thanks to millions of new market participants joining the ranks over the last few years, mobile-first platforms have grown popular. What’s more, many of these offer added benefits that some of the more traditional platforms don’t include low and no-fee trading.
One of the more popular platforms retail traders are using right now is Webull. Not only does it offer enhanced tools not available on other mobile apps, but it also allows many users to trade pre- and post-market hours. One of the downsides of using platforms like this is you’re limited to Nasdaq and NYSE-listed companies. That can make it harder to find penny stocks to buy as many are traded Over-The-Counter. Lucky for you, this article discusses some of the more popular stocks under $5 trading on Major exchanges.
Penny Stocks TL;DR 30-Second Summary
- Penny stocks are higher risk assets, which can require brokerages to add certain rules for users looking to trade them
- Many mobile-first platforms like Webull don’t typically allow trading of OTC penny stocks
- Despite many sub-$5 stocks being traded Over The Counter, there are still plenty that’ve made their way to the NASDAQ and New York Stock Exchange
- Today we look at a few Webull penny stocks to watch that platform users have deemed as “bullish” right now
Another unique trait of platforms like Webull is they offer a social community. This has become very prevalent in post-pandemic market trends. Retail traders have taken to social media to discuss trade ideas and strategies. One of the more popular stock market social media sites, StockTwits, raised $30 million in Series B funding at the end of 2021. The platform notable for pioneering the cashtag now aligns itself with multiple partners to leverage expertise in new markets like India and new asset classes like crypto.
This growing interest in the retail (dumb money) trading environment echoes a bullish tone for mom-and-pop investors. With that, we’ll look at a few penny stocks that have received a bullish vote of confidence this week.
Webull Penny Stocks To Watch This Week
- NeuroMetrix Inc. (NASDAQ: NURO)
- Tellurian Inc. (NYSE: TELL)
- Bark Inc. (NYSE: BARK)
- NXT-ID Inc. (NASDAQ: NXTD)
NeuroMetrix Inc. (NASDAQ: NURO)
NeuroMetrix is hoving right around the upper threshold of the penny stock range this week, and if you’re looking at the chart, things haven’t been very active as of late. However, some readers may remember this as one of the big movers last summer. NURO stock exploded from under $4 to over $38 within days. Low float penny stocks were a big focus at the time, and with fewer than 10 million shares outstanding, NURO fit the mold. In addition, the company had just released FDA-related news, which sparked the first move that took shares to $12. The following day, momentum continued pushing prices as high as $38.75.
NeuroMetrix is a commercial-stage healthcare company developing bioelectrical and digital medicines targeting chronic conditions, including diabetes, sleep disorders, and acute pain. The FDA granted Breakthrough Device Designation to the company’s Quell device for treating fibromyalgia.
There’s also a De Novo request for Quell as a prescription treatment to the FDA. As the review process continues, the market awaits an outcome, and likely speculation has followed. The company previously discussed plans for a commercial launch in 2022, and this request is a step toward that goal.
With low float penny stocks as a trending topic right now, NURO could be on the radar. What’s more, sentiment among retail traders on Webull is noticeably bullish right now.
Tellurian Inc. (NYSE: TELL)
Energy stocks have pushed even higher as of the halfway mark this week. Tellurian Inc. has followed suit, making its way back toward the 50-day moving average with a third straight day of gains. The company has focused on addressing the need for more resources to address the global reopening efforts and industrialization that has followed.
Most of this week, we’ve discussed the company as green energy and renewables have gained more interest. Companies like Tesla, Rivian, and others have also added to the bullish sentiment for this trend. In Tellurian’s case, the company focuses on natural gas and liquified natural gas (LNG) assets. LNG has particularly been a resource considered as a “bridge fuel” during the transition to green energy renaissance.
Last quarter, company CEO Octávio Simões set the bar for 2021 and 2022 expectations. He explained that “By year-end 2021, we plan to produce approximately 70 million cubic feet equivalent per day (mmcfed)…We have turned our focus to financing Driftwood LNG and plan to give Bechtel notice to proceed with construction in early 2022.”
On the heels of this news, sentiment has remained upbeat. Based on Webull users, it appears they also agree with this outlook as 92.31% are bullish on the stock.
Bark Inc. (NYSE: BARK)
The dog lifestyle company Bark Inc. has taken a bite out of the market this week. Shares have surged from lows of $3.37 to over $4.70 following several key developments. Bark’s offerings include BarkBox, BARK Super Chewer, and BARK Eats, in addition to custom collections through retail partners like Target and Amazon.
This week the company announced a new CEO in addition to fiscal Q3 2022 guidance. The latter seems to have been a cause for excitement among retail traders. Bark expects revenue to come in around $140 million, up 33.1% from the same period in fiscal 2021. Previous guidance pegged revenue between $137 and $139 million. Top-line sales also climbed more than 41% to $377.8 million through the first three quarters of fiscal 2022, compared to 2021. “Our robust holiday season and strong results underscore the power of our brand and our unique value proposition as one of the largest vertically integrated and digitally native dog companies in the world today,” commented Matt Meeker, Co-Founder and Executive Chairman of BARK.
What do retail traders think about BARK stock? Even with this week’s big move, the consensus leans more bullish than bearish, though not by a wide margin. We’ll have to see if this remains the case by the weekend.
NXT-ID Inc. (NASDAQ: NXTD)
Another one of the low float penny stocks on this list is NXT-ID. With fewer than 10 million shares outstanding, it’s clear why the stock has seen so much volatility recently. NXT-ID specializes in personal emergency response systems (PERS). Its recent government contract with the U.S. General Services Administration helped give NXTD stock a boost toward the end of the year last year. This opened up the door to accessing partners like the Veterans Health Administration.
In addition to the lower float, NXTD has been seen as one of the “short squeeze penny stocks” to watch. We discussed several this morning and used Fintel.IO data to gauge levels. Accordingly, the short float percentage right now sits around 16%. This may be another reason why Webull users have given such a bullish forecast on the stock. The current “prediction” shows more than 90% bullish right now.
Retail Trading Sentiment & Penny Stocks
Sentiment gauges like this can help you understand the market’s thoughts are about a stock. However, in the case of Webull’s tool, it’s important to remember that these are opinions from users at the end of the day. Similar to other rating systems, at the end of the day, you’re the one making the trading decision.
So with that, I would say to make sure you’ve got as much information as possible to make the best choice based on your style and strategy. This article focused on retail sentiment from Webull users. If any of the penny stocks from this list are on your watch list, leave a comment and tell us if you agree or disagree with the sentiment and why.
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Monkeypox: demand for vaccines is outstripping supply – this is what’s causing the shortages
Chronic weaknesses in our global vaccine manufacturing and distribution systems may broadly be to blame.
Over 30,000 cases of monkeypox have been reported in more than 80 countries worldwide in 2022. Most are in countries that have never previously reported monkeypox. While monkeypox is not as transmissible as many respiratory infections (such as COVID-19), it’s still important to curb the spread.
One way to control spread is by vaccinating vulnerable people. Fortunately, we already have vaccines which are very effective at preventing monkeypox. But as case numbers continue to rise, reports are emerging that demand for vaccines is outstripping supply in many parts of the world currently seeing an outbreak, including the US, UK and Europe.
There are a number of reasons why we are seeing shortages of the vaccine used to protect against monkeypox. Broadly, it’s due to chronic weaknesses in our global vaccine manufacturing and distribution systems, which make it especially difficult to supply the vaccines needed to protect against new infections and outbreaks.
The vaccine currently being used to protect against monkeypox is the smallpox vaccine, which works because the monkeypox virus is so closely related to smallpox.
Until now, the smallpox vaccine has been a niche product because it’s not been needed since smallpox was eradicated in 1980. Pharmaceutical companies can’t afford to manufacture vast numbers of doses just in case, and few governments can justify buying a vaccine that isn’t used. This means the vaccines currently being administered are from emergency stockpiles that were created to respond to an accidental (or deliberate) release of smallpox.
As such, there are limited stocks and production capacity globally, so demand is rapidly outstripping supply. Even the US, with one of the largest smallpox vaccine stockpiles, recently ordered 2.5 million additional doses in response to the monkeypox outbreak. But there are reports that the factory in Denmark which makes the world’s only smallpox vaccine approved for monkeypox is temporarily closed, which may further impact the world’s ability to source more vaccine doses. And unfortunately, transferring production to other facilities is not straightforward.
One particular problem for vaccine manufacturers is that it’s hard to predict when or where big outbreaks of infections may happen. Of course, there are some infections that we know consistently require a regular supply of vaccines – such as the influenza virus. But while 1 billion influenza vaccines are produced globally each year, it still takes approximately six months from picking the most important new strains to manufacturing and rolling out jabs.
So even with vaccines in high demand, it isn’t simple to manufacture more doses. This is why we are still striving to innovate ways to rapidly produce new vaccines affordably and at a very large scale.
Vaccines are inherently complicated to make. Because they are made from relatively fragile and complex biological materials (such as a virus), the product has to be exactly right every time. If the formula changes even slightly, it might not work as well – or even increase the risk of side-effects.
Adding to this challenge is the fact that different vaccine products may be manufactured by different methods. For example, the equipment needed to produce a viral vaccine (such as the smallpox vaccine used against monkeypox) will be very different to that used to make COVID-19 RNA vaccines. It’s also slow and expensive to test any necessary modifications or improvements that may be needed to make a vaccine safer and more effective.
Surprisingly, even some simple processes common to all vaccines and other medicines – such as filling doses into vials for distribution to patients – still have a mismatch of capacity. Vaccines are usually manufactured in different locations to packaging facilities, raising logistical hurdles (such as strictly controlled refrigeration requirements) that can further delay distribution. These facilities are used for many different medicines and are usually fully booked years in advance; schedules that are still recovering from COVID-19 disruptions may now be experiencing urgent changes to package the smallpox vaccine from stockpiles.
It also isn’t just a case of developing new monkeypox vaccines that are easier to manufacture. Even with major recent scientific progress, it would take many months to develop a safe and effective new vaccine. For monkeypox, it’s far quicker and simpler to use the existing smallpox vaccine.
What can be done?
Smallpox vaccine production is likely to be increased to meet demand. But until this happens, many countries will have to make best use of what supplies they can access, and rely on other strategies to help curb the virus’s spread.
The most effective way to prevent monkeypox causing further harm is by using an integrated, locally led public health response – vaccines are just one part of this. Testing and contact tracing is vital. If enough infected people in a region can be identified and supported to isolate while they’re infectious, transmission can be blocked.
Given the vaccine shortages, we expect that people don’t need two vaccine doses to be protected against monkeypox. This is why vaccinating the most at-risk groups with one dose now, paired with other public health measures, is the most effective strategy for curbing the spread of monkeypox – especially while vaccine supplies are limited. Second doses can be administered to maximise immunity when supplies do become available.
The current monkeypox outbreak is yet another reminder of the importance of investing in global health, and ensuring there’s more equal access to vaccines and other medical interventions that can help prevent the spread of harmful diseases.
Alexander Edwards does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.stocks covid-19 vaccine testing vaccine production rna spread transmission europe uk
Is housing inventory growth really slowing down?
The problem with new listings declining now is what will happen if mortgage rates make a solid push lower.
The post Is housing inventory growth really…
One of the most important housing market stories in recent weeks has been the decline in new listings, which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in August and it doesn’t look like we are going to even get to the peak inventory levels we saw in 2019 this year, or even breach the lower levels of 2019 on the national data.
From the National Association of Realtors:
What I want to talk about is the concern I’ve had throughout this post-COVID-19 housing market: When will we get total inventory back into a range of 1.52 million to 1.93 million? Once that happens, I can finally take the savagely unhealthy housing market theme off my talking points.
First let’s take a look at the data.
Clearly, we are seeing a slowdown in new listings as the data has been negative now for months. One thing that I have stressed is that higher mortgage rates can create a slowdown in demand and thus allow more inventory to accumulate through a weakness in demand. After March of this year when rates were rising, this was the case, especially when rates ranged between 5% to 6%. Inventory growth is happening much like we saw in 2014 — the last time total inventory grew — which was also the last time mortgage purchase application data went negative year over year.
However, inventory accumulation due to weakness in demand is only one of many ways to see inventory increase. If you really want to see inventory grow to 2019, 2016, 2014 or even 2012 levels, you need a healthy amount of new listing growth each year. We aren’t talking forced sellers, foreclosures or even short sellers. With just traditional new listings and with higher rates and time, we should be able to hit peak 2019 inventory levels.
The problem with new listings declining now is what will happen if mortgage rates make a solid push lower. At that point housing inventory could slow even more, pause, and in some cases fall again due to demand. If mortgage rates peaked at 6.25% or 6.50%, that means that the next big move should be lower and that is a risk to getting balance back into the system.
How low do rates need to go?
Mortgage rates have made a move of 1.25% in recent week and I have talked about how low they need to go to make a material shift in the markets. Looking at the most recent mortgage purchase application data, I haven’t seen anything yet to show that demand is coming back in the meaningful way. In fact the recent data shows that even though we saw a positive 1% move week to week, the year-over-year data is still down 19%.
So as of now, the growth rate of inventory slowing down is a supply issue more than demand picking up in a meaningful way. This is why if rates do fall, we will have more supply and more choices for borrowers, who in some areas won’t have to get into a bidding war for a home. This is something I will be keeping an eye on for the rest of the year, since I do have all six of my recession red flags up, which historically means that rates and bond yields fall.
Two things that I believe are key for a soft landing are rates falling to get housing back in line and inflation growth falling so the Fed can stop with the rate hikes and start cutting rates if the economic data gets even worse.
The recent inflation data did surprise the downside a bit, sending the bond market rallying, stocks higher and mortgage rates falling.
However, we are far from calling it a victory as inflation growth rate is still very high and we do have some variables that can create supply shortages, such as war and aggression by other countries.
For today, people cheered the growth rate of inflation falling as they know this is the biggest driver of the Federal Reserve’s hawkish tone and more aggressive rate hikes. Also, in general, the mood of Americans is much better when gasoline prices are falling and not rising. However, we need much more aggressive monthly prints heading lower for the Fed to be convinced that inflation is no longer a concern.
All in all, the decline in new listings does warrant a conversation on how much more growth we will see for the rest of the year. Inventory data is very seasonal and traditionally we see inventory start to fall in October as people start getting ready for the holidays and the New Year, and then in the spring and summer inventory pops up again.
I would remind everyone that the growth rate of inventory, working from all-time lows, was aggressive in the last few months, so some context is needed if we do see some weekly declines in inventory during the summer months. For now, this is due to a lack of new sellers rather than demand picking up. If demand starts to pick up due to falling rates, that is an entirely different conversation we will have, but we haven’t crossed that bridge yet.
Just remember that American homeowners are just in much better shape these days.
I know the professional grift online since October of 2021 was that a massive wave of millions of people were going to list their homes to sell at any cost to get out before the housing market crashed.
However, homeowners don’t operate this way. A traditional home seller is a natural homebuyer, buying another property when they sell. They don’t sell their house to be homeless or purposely sell to rent at a higher cost for no good reason. If we get a job loss recession we can have a further discussion of credit risk profiles, but for now, it shouldn’t be too shocking that new listings are declining, except for the fact it’s happening sooner than later in the year.recession covid-19 stocks fed federal reserve mortgage rates housing market recession
US CPI eases substantially to 8.5% but the Fed yet to “hit the brakes”
US consumers received a welcome break from the meteoric rise in prices with the July CPI ‘easing’ more than anticipated to 8.5% Y-o-Y. The figure moderated…
US consumers received a welcome break from the meteoric rise in prices with the July CPI ‘easing’ more than anticipated to 8.5% Y-o-Y.
The figure moderated from 9.1% in June owing to a fall in surging gasoline prices as the summer driving season came to a close.
Forecasts had suggested that the CPI may only fall to 8.7%.
Prices of key commodities such as corn, wheat and copper also declined by 20.4%, 27.7% and 13.5% compared to 3 months ago at the time of writing.
Buoyed by renewed optimism, the S&P 500 has risen by 2.1% thus far during today’s session.
Yet, the rate of inflation is still far above the Fed’s stated 2% target.
Core CPI which excludes volatile energy and food items from the main basket stayed unchanged at 5.9% Y-o-Y while increasing by 0.3% on a monthly basis, significantly below July expectations of 0.7%.
Pimco economists Tiffany Wilding and Allison Boxer noted that although headline inflation has eased, core CPI has stayed firm, and has even seen an uptick in related data released by the Fed’s regional institutions.
The July reading showed the sharpest Y-o-Y dip since March 2020, when CPI fell from 2.3% in February to 1.5% as the initial lockdowns took effect.
American families continue to battle sky-high prices amid declining real wages. Simon Moore, a contributor at Forbes magazine adds that “price increases for many other areas of the economy still remain concerning for the Fed.”
The broad-based nature of inflation has meant essentials such as food, rent, and health services are continuing to see an uptick despite a lower aggregate number.
For instance, the Bank of America noted that the average monthly rent has risen by 16% for those in the youth demographics.
The substantial dip in the CPI has proved to be a bit of a surprise following the latest jobs report which registered an increase of 528,000 in July, with the unemployment rate falling to a low of 3.5%.
The labour market continues to remain unnaturally tight despite the Fed’s overall hawkishness, two consecutive quarters of GDP contraction, and reports of big-tech lay-offs earlier in the year.
A tighter job market usually implies more competition for talent, higher wages and ultimately more spending. More spending tends to push up consumer inflation necessitating rate hikes.
As of July 2022, the U.S economy has been able to replace the 22 million jobs that were lost amid covid lockdowns, leading to predictions of a “jobful recession.”
Economists argue that this unique situation may be fueled in part by ageing demographics and a sharp decline in immigration during the course of the pandemic.
A key concern for the Federal Reserve is falling labour productivity in the economy. The output per worker reduced for a second consecutive quarter to -4.6% Y-o-Y, having registered a fall of 7.4% in the first three months of the year.
Q1 marked the deepest cut in labour productivity since records began in 1948, 74 years ago. This was reinforced by the weakness in GDP data that contracted in both Q1 and Q2, contrasting with the positive signals from the headline jobs figures.
At the same time, unit labour costs increased 10.8% in Q2, although real wages have contracted 3.5% over the past year.
Can we expect a pause in rate hikes?
Bluford Putnam, Managing Director & Chief Economist, CME Group, wrote “…factors has changed course in the past six to 12 months and is no longer likely to be a source of future inflation”
Elevated goods demand due to the pandemic and ongoing lockdowns have eased markedly; supply chain disruptions will take time to alleviate completely but significant strides have been made in this regard; the gigantic fiscal stimulus injected during the covid crisis has largely run its course; central banks are finally reducing their balance sheets; while policymakers have embarked upon the withdrawal of rock-bottom interest rates. These are all sources of price rise that have seemingly turned the corner.
In addition, gasoline prices are likely to ease for the foreseeable future, while WTI and Brent have fallen 4.7% and 2.4%, respectively over the past month.
However, Bill Adams of Comerica Bank has been reluctant to call a peak to inflation and expects that the US is at risk of “another energy price shock” over the winter.
The conduct of monetary policy has never been a clear-cut matter. The judgement of monetary authorities is paramount while projecting into the future has always been fraught with known and unknown unknowns.
The relatively sharp decline in CPI, contracting GDP and tightness in the job market tell a muddled tale.
For the average householder, costs are punitive, and inflation is likely to stay sticky.
However, the New York Fed in its July survey of expectations found that inflation expectations of the ‘general public’ have followed gasoline and broader energy prices lower, with one year ahead expectations falling to 6.2%.
Since inflation expectations are central to the monetary policy equation, once again, we find that supply-side factors not under the control of central banks may have influenced public sentiment and consumer behaviour more so than simply tighter policies.
In light of the likely easing among key inflationary sources, CME’s FedWatch Tool reports that there is a 60.5% probability of a 50 bps hike in September, while there is a 39.5% chance of a third consecutive 75 bps hike.
This is in spite of the fact that Jerome Powell believes that the Fed has been able to achieve the neutral interest rate during its last meeting – a level where the economy is neither constrained into contraction nor incentivized to expand.
Putnam states that “any level of short-term rates that is below a reasonable view of inflation expectations remains accommodative”, resulting in the Fed taking “its foot off the accelerator, but it has not hit the brakes. “
Moore points out that “Inflation is starting to fall, but still not by as much as the Fed would like and it may be some time before they can declare any sort of victory”
For now, all eyes will be on tomorrow’s Producer Price Index data and the likely passing of the controversial Inflation Reduction Act in the coming days.
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