Using data like social sentiment levels can be valuable to your research process. This is just one way traders find penny stocks to buy.
That move is one reason stocks with similar traits are doing what they’re doing right now. TOP stock exploded from penny stock levels to highs of over $250 within days as a mix of short squeezes and unbridled exuberance took hold. That was thanks to an initial breakout from a newer IPO stock, TOP Financial ( TOP Stock Report). This week we saw a growing interest in low-float, China-based penny stocks. This “follow-through” or lack thereof is one of the main reasons anyone trading penny stocks based on sympathy catalysts either makes bank or holds the bag. Others saw very short-lived excitement due to one reason or another. Many ended up exploding higher in price for weeks on end. This triggered a tidal wave of interest in other companies with similar traits. Traders “fought” for the beaten-down company that had fallen victim to heavy shorting from “the suits,” aka hedge funds. One of the more notable examples of this is AMC Entertainment ( NYSE: AMC) when the “Ape Movement” first materialized. The general idea of these types of trades is that specific stocks experience surges in buying due to another company’s successes, milestones, or increase in attention. We’ve discussed several niche trends playing a role in the stock market right now, including sentiment-based sympathy trades. But retail traders are hunting for the top penny stocks to buy.
Broader markets are battling with the banking crisis and this week’s Fed meeting.
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