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New investors and traders have flocked to the stock market in 2020, and many have found homes trying to trade the best penny stocks.
Being able to buy a larger number of shares and profiting enormously when the market lifts the shares higher is enormously satisfying in addition to being profitable.
There are several different ways to evaluate penny stocks using fundamental and technical analysis...
One that has worked very well in 2020 is buying low-priced stocks when they move to a new 52-week high.
There are hundreds of thousands of traders tracking the new high list looking to jump into a breakout momentum stock just before it makes a big move.
We can improve our odds of success even further by watching for large volume increases and identifying the catalyst for the breakout.
The Best Penny Stock to Buy for Travel
Liberty TripAdvisor Holdings Inc. (NASDAQ: LTRPA) is an excellent example of a stock breaking out to new highs on increased volume.
Money is flowing into shares of the online travel company because investors are trying to front-run stocks they think will be successful because of the COVID-19 vaccine.
You see, the vaccine will start being distributed this month, and by spring, we could have something close to full vaccination in the United States.
This will allow people to feel a lot better about travelling for work and recreation. People will go back to using Liberty Trip Advisor for booking hotels, restaurants, airline tickets, and cruises.
The stock hit new highs last week, and volume was twice the usual level as investors continued to bet big on the rebirth of the travel industry in 2021.
Shares of Liberty TripAdvisor could have enormous upside. The 2019 high in this stock of $19 was almost four times the current price ($4.25), so this breakout to new highs could lead to enormous gains.
The Best Penny Stocks to Buy in the Uranium Industry
The U.S. uranium industry has been in the doldrums for a long time now. Although nuclear energy is one of the cleanest and greenest ways to produce electricity, it has never caught on with the current movement to "go green."
Well, that could be about to change...
Last week, the Senate approved the American Nuclear Infrastructure Act (ANIA). The act establishes a nuclear fuel reserve to provide assurance of the availability of uranium mined in the United States in the event of a market disruption.
That is going to be a new source of demand for uranium companies in addition to the utility companies here and abroad.
The American Nuclear Infrastructure Act also restricts the Department of Energy to buying uranium only from companies licensed by the Nuclear Regulatory Commission of an equivalent state agency.
The act specifically bars the agency from buying from Russian or Chinese uranium companies.
On Monday, we saw shares of three low-priced uranium companies - Energy Fuels Inc. (NYSEAMERICAN: UUUU), Ur-Energy Inc. (NYSEAMERICAN: URG), and Uranium Energy Corp. (NYSEAMERICAN: UEC) - hit new 52-weeks on higher-than-normal volume.
Energy Fuels has a uranium mining operation in Texas Utah and Wyoming.
UR-Energy has uranium mines in Colorado and Wyoming.
Uranium Energy has mines in Arizona, Colorado, Texas, and Wyoming. It also has mines in Canada and Paraguay that allow the company to sell uranium in global markets.
As nuclear energy becomes a bigger part of the ongoing green energy discussion, these are the three best U.S. uranium mining penny stocks you want to bet on for potential massive gains.
The Best Penny Stock to Buy Right Now
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Shares of a clinical stage biotech company, Matinas BioPharma Holdings Inc. (NYSEAMERICAN: MTNB) also hit new highs as the company announced plans to collaborate with the National Institute of Allergy and Infectious Diseases.
This is part of the National Institute of Health's strategy to test oral formulations of Remdesivir.
Remdesivir, developed and owned by Gilead Sciences Inc. (NASDAQ: GILD), is one of the few drugs that have received emergency approval for treating COVID-19.
One or more of the formulations of the drug will be delivered using Matinas' Lipid Nanocrystal (LNC) technology. This technology delivers a significant percentage of the drug to the body when used orally instead of injected.
Should the company's LNC become one of the approved delivery methods for Remdesivir in the fight against COVID-19, the high-volume breakout could be just the beginning of a huge move higher.
The stock is currently trading for $1.14 with a market cap of only $228 million. But it could reasonably increase fivefold if this happens.
The Complete List of Best (and Worst) Stocks for 2021
Wall Street insider Shah Gilani says 2021 could be a gold mine for Americans.
He's showing his subscribers exactly which stocks to buy and which to sell.
But you're getting it all for free - no sign-up or credit card required.
Prices, tickers, and company names will be coming your way fast.