Last week was crazy! Get ready, this week could be just as wild. Penny stocks can move fast and be highly volatile. But as we saw last week with GameStop (NYSE: GME) and others, it’s not just penny stocks. The influence of groups like r/wallstreetbets and the rise of the retail trader is a potential game-changer.
I’m rooting for the little guy, but don’t count the hedge funds out just yet. This is a battle.
The war rages on #WallStreet & everyone guessing the new big #Wallstreetbets pick should focus on highly shorted names, if they ever go OTC I hope they pick $CYDY as it has SO MANY shorts doubting #leronlimab & more promoters than any other play, hence why I’ve bought a few times
— Timothy Sykes (@timothysykes) February 1, 2021
No matter how things play out, success as a trader requires making a list of stocks to watch. Make it a daily habit. How do you choose stocks for your watchlist? It all starts with looking for big percent gainers. Keep reading for more about how to create your own penny stock watchlist.
First…
News Moving the Penny Stocks on This List
Every trader should be watching what happens with the GME short squeeze. It has valuable lessons. Be sure to read the next Millionaire Mentor Update, as I’ll share my thoughts in depth.
Keep in mind, it’s not only GME. WallStreetBets also helped squeeze…
- AMC Entertainment Holdings, Inc. (NYSE: AMC) AMC opened last week at $4.71 and traded as high as $25.80 in extra-hours trading.
- Koss Corporation (NASDAQ: KOSS) KOSS short sellers got squeezed from roughly $10 to an extra-hours high of $175.
- PLUS: Nokia Corporation (NYSE: NOK), BlackBerry Limited (NYSE: BB), and Bed Bath & Beyond Inc. (NASDAQ: BBBY) are getting a lot of mentions.
Of course, that’s only part of the news. Robinhood was forced to restrict trading on GME, AMC, and others. They also had to raise roughly $1 billion to shore up reserves. Several other brokers, including E*Trade and Interactive Brokers, also restricted trading.
Finally, is WallStreetBets promoting silver and/or Dogecoin? Some in the group think it’s bots created by hedge funds to get them to sell their GME shares. Others are all-in with diamond hands.
This isn’t over. I won’t try to predict what will happen. But I’m definitely keeping everything in perspective. If the GME volatility continues, pay attention to how the overall market reacts.
And no matter what, understand how amazing it is to witness what’s happening right now. Let’s do this…
Read More
The battle between WallStreetBets and Wall Street hedge funds is important to any trader’s education. So read these related Breaking News posts to learn more…
- Keith Gill AKA Roaring Kitty: The GameStop Short-Squeeze Leader Who Changed Wall Street Forever. Must-read story about the YouTube streamer and his now-famous YOLO posts as “DeepF***ingValue” on r/WallStreetBets.
- Citron Research End Short-Seller Reporting After 100% Loss on GameStop. Andrew Left, author, editor, and founder of Citron Research, announces an end to publishing short-seller reports after GME squeeze.
- Is the Free Market Doomed? Wall Street Fires Back at Main Street. How WallStreetBets, with over 7 million members, banded together to take down short-sellers. But Wall Street fired back…
Top Penny Stocks List Weekly Update: February 1, 2021
As always, we’ll start with OTC stocks to watch. Then we’ll move on to listed stocks…
Top OTCMarkets Penny Stocks To Watch
Below is my OTC penny stocks list for the week starting February 1, 2021. Be sure to read everything so you understand the thought process that goes into my list.
Top Penny Stocks List Weekly Update #1: Blue Sphere Corporation (OTCPK: BLSP)
(DISCLOSURE: I held a long position in BLSP over the weekend. It was a solid example of the first green day pattern. See details of my BLSP trades here. )
Blue Sphere is a green energy play. The company focuses on turning waste to energy, compost, and other green by-products.
BLSP is a former runner that started moving in early January with increased volume but no real news. The big move happened on January 19 when it spiked 366%.
Check out the BLSP one-year chart:
BLSP gapped up on January 20 before pulling back to trade mid-range. On Friday, it had another green day. We’ll see what it does when the market opens. If it fails, I’ll cut losses quickly.
If BLSP can put together a multi-day run, I would love to buy again into any big morning panic. For now, I’ll focus on managing my small position based on how it opens.
Top Penny Stocks List Weekly Update #2: Barrel Energy Inc. (OTCPK: BRLL)
Barrel Energy is focused on minerals for battery production. The CEO, Craig Alford, was also the founder of recent runner American Battery Metals Corp. (OTCQB: ABML)
BRLL spiked last week on news the company will provide tech space for lithium-ion battery recycling.
“Barrel Energy is aware that most analysts see an upcoming bull market for Lithium and other battery raw materials to feed the surging Lithium-ion battery supply chain and has made this is a strategic focus for the company.”
Read the full press release here.
BRLL was up 98% on Friday and closed strong. I won’t chase it now, but if we see a big intraday panic, I’d love to dip buy.
Top Listed Penny Stocks to Watch
Here are my listed penny stocks to watch for the week of February 1, 2021. It includes new and recent spikers. Pay attention to those associated with WallStreetBets and their attempts at short squeezes. I doubt I’ll trade any of them, but I’ll still watch and learn.
Top Penny Stocks List Weekly Update #3: Phunware, Inc. (NASDAQ: PHUN)
Phunware is an enterprise cloud platform involved in blockchain and data analytics. The company is focused on mobile apps, audience engagement, and monetization.
On January 22, the company announced it would present at the Proactive Investors One20ne Investor forum on January 26.
The stock spiked in anticipation of the presentation. It looked like a case of buy the rumor, sell the news as PHUN pulled back after the presentation. But on Friday it put in a strong first green day.
Here’s the PHUN one-year chart:
PHUN gained roughly 20% on Friday, but continued to run after-hours. It’s set to gap up today, hitting a pre-market high of $3.85. Anything over $3 per share in regular hours is a new 52-week high.
I won’t chase but if we see a big intraday panic, ideally after multiple green days, I’d love to dip buy.
WallStreetBets Short-Squeeze Targets
Here are the charts for the stocks on this list associated with WallStreetBets and their attempts to squeeze shorts. Can they hold the line with diamond hands? I’m cheering them on from the sidelines…
GameStop Corp. (NYSE: GME)
Koss Corporation (NASDAQ: KOSS)
Naked Brand Group Limited (NASDAQ: NAKD)
Sundial Growers Inc. (NASDAQ: SNDL)
Keep watching these stocks this week!
How to Create Your Own Penny Stock List
How to create your own watchlist?
To start, look for big percent gainers. For two decades, big percent gains have been my #1 criteria. After that, I look at trading volume and catalyst or reason behind the price action. Read “Stock Watchlist Guide: Tips & Examples to Develop Your Own” for details about the entire process.
Create a Watchlist Every Day?
How bad do you want it? If you’re serious about trading penny stocks, making a daily watchlist is essential. Make it a habit — even if you don’t trade a single stock on your list. Study check, tweet/favorite this if you’re still up studying or working on your watchlist for next week already…if anyone gives you crap about spending so much time learning then you send them to me & I’ll give them a piece of my mind on how obsession is KEY TO SUCCESS!
Does Tim Sykes provide a free watchlist?
Yes I do! all you need to do is subscribe for no cost and get my weekly penny stocks watchlist.
How to Use the Top Penny Stocks List Weekly Update
When you read the weekly penny stock list (and the monthly watchlist), don’t think of them as hot picks. Frankly, sometimes they’ll be duds. That’s why it’s called a watchlist. Welcome to penny stocks.
👉🏼SUBSCRIBE to my NO-COST weekly stock watchlist here.
Instead, try to figure out why I’ve put the stocks on my list. Study so you can help yourself become a self-sufficient trader. Only fools chase hot picks.
What do you think about this penny stocks list weekly update for February 1, 2021? Comment below, I love to hear from all my readers!
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