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This story originally appeared on PennyStocks
Seeing 3 penny stocks trading higher today
Many penny stocks performed bullish in April. While there are bad days in the market, investors seem hopeful about the future. Part of that can be attributed to recent positive updates on the pandemic. In the US, COVID cases have dropped rapidly in the last month alone. This is partly due to the millions of vaccine doses that have been distributed.
According to the latest data, 36% of the population have received at least one dose of vaccine. Because of this, many believe there could be an economic recovery in the coming months. In addition, factors such as solid retail sales and low unemployment indicate that the future could be bright. As a result, many penny stocks increase in value.
When it comes to investing in penny stocks, there are a few options. While you can buy stocks under $ 5 through many brokers, traders have recently turned to newer platforms. This includes such as Robinhood and WeBull. In the past, buying and selling stocks has been a rather tedious process for non-institutional investors. However, the rise of user-friendly brokers and social platforms like Reddit has increased the number of retailers.
While these platforms are easy to use, they often do not allow access to OTC or over-the-counter markets. This is where a large part of the penny stocks are located. While finding stocks under $ 1 can be a challenge for Robinhood, there are plenty of them that should be explored.
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Before diving headlong into penny stocks, be aware that these can be more volatile than blue chips. While this will vary by sector, stocks under $ 5, and stocks under $ 1 in particular, can generally have a high risk profile. That being said, there are plenty of penny stocks on display in April 2021. With that in mind, here are three that saw big moves on April 15th.
Penny stocks available for under $ 1
ToughBuilt Industries Inc.
ToughBuilt Industries is a company that has been hit by speculation for the past few days. Before we get into the why; Let's talk about what the company is doing. ToughBuilt is a manufacturer of home improvement and construction products. It offers everything from tool straps and tool bags to storage solutions, saws and much more. On March 26th, the company released an update that most likely affected intraday trading volume.
This update was released when ToughBuilt released its fiscal 2020 results. In the results, TBLT announced sales growth of 106% to $ 39.4 million. Additionally, gross profit increased 162% to $ 14.7 million. That compares to $ 5.6 million last year. Both numbers represent sizeable gains and show that fundamentals may indeed be driving recent price action.
"ToughBuilt has demonstrated strong fundamentals based on its execution team, customer relationships, balance sheet, commitment to research and development, and ongoing customer service."
Michael Panosian, CEO of ToughBuilt
This year Toughbuilt is concentrating on expanding its product lines and global sales. The aim is to offer a wider range of products as well as new and innovative devices.
Although TBLT depreciated on April 15, this balance sheet could have greater long-term implications. It is common for a stock to move up or down very quickly on the day it is released. Due to the good numbers, the TBLT share could be worth a visit in the coming days.
Great Panther Mining Ltd.
If you've invested in the market in 2021, you've probably seen the solid performance of mining. During that time, many mining penny stocks like GPL have appreciated in value.
One of the driving factors for this is the rising gold and silver prices. Investors have turned to safe havens like precious metals amid fears of long-term inflation. This includes gold and silver. As we turn the corner in April, many mining stocks are carrying this momentum further.
Great Panther Mining is a perfect example of the solid momentum in current mining stocks. GPL is a mining and exploration company based in Canada. Gold, silver, lead, copper and zinc ores are mined and mined in its facilities. While it mines precious metals, its main focus is on gold and silver. For this reason, it is not surprising that the shares in GPL have increased alongside the precious metals industry.
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On April 13, Great Panther announced its production results for the first quarter of 2021. In the report, GPL showed solid growth in mining. Some major strides have also been made which have enabled him to largely avoid pandemic-related losses. With these results, Great Panther is on track to meet its proposed 2021 guidelines.
While production numbers were low in the first quarter of the year, this was all part of the roadmap. The company explains, “The first quarter should be a low manufacturing quarter due to the heavy stripping. Production is expected to increase quarter over quarter for the remainder of the year as mining advances in sectors with lower stripe ratios. "
When this was announced, the GPL's shares rose higher during intraday trading. While it was pulling back slightly, it appears to be the result of some natural correction. On April 15th the GPL showed a positive dynamic again. During the trading day, the GPL rose nearly 3% to $ 0.79 per share. Given this exciting news, is GPL stock worth watching?
Castor Maritime Inc.
Castor Maritime is a shipping company that works with bulk cargo. This includes everything from flour to building materials and more. During the pandemic, companies like Castor have grown in popularity significantly. However, the recent momentum can be attributed to three factors in particular.
Initially, on April 5, pricing was announced for a registered direct offering of $ 125 million. 192.3 million shares of common stock will be issued at a price of $ 0.65 per share. This is always exciting as it helps to bring in new capital for possible business expansion. Additionally, it can help investors feel more comfortable on a company's balance sheet.
Second, on April 9, Castor announced that he had acquired a Japan-built Panamax bulk carrier from a third party for $ 18.48 million in 2011. This is big news for the company as it shows it is expanding its fleet. The company is currently focused on getting as much business as possible. This is where ship acquisition comes in.
Finally, on April 14th, Castor announced the delivery of the M / V Magic Twilight and M / V Magic Thunder. These are two bulk carriers built in Korea and Japan. This, in turn, will help increase the number of fleets as well as the carrying capacity. While these updates may seem small, they offer a solid look at what Castor is currently doing. Given that, is CTRM worth watching?
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