Hot Penny Stocks To Buy For Under $3 Today On Webull & Fidelity

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Are Penny Stocks Worth The Risk?

Penny stocks can be some of the most exciting types of equities to trade in the stock market today. But if you’re new to this world of low-priced stocks, you may not know where to look or what to search for. While many have their own definition, penny stocks are shares of low-priced equities typically trading over the counter and many that also trade on the Nasdaq or NYSE.

PennyStocks.com – PennyStocks

Case in point, as we discussed yesterday, not all OTC stocks are penny stocks. For this reason, we’re looking at pricing. In this case, we’ll focus on the long-standing basic definition of stocks under $5. The main reason is that some brokers don’t allow access to certain things like OTC penny stocks. Since some of these platforms have run into serious technical issues – even large-scale hacks – retail traders have begun flocking to other platforms including Webull and Fidelity.

Top 4 Most Active OTC Stocks Today & No, They Aren’t Penny Stocks

So what do you do if you’re using platforms like these? You search for cheap stocks under $5, and in this article, we’re looking at stocks that can be bought for under $3. One thing to keep in mind is that aside from penny stocks being risky, the lower the price, the higher the volatility, in general.

Simply put, a $3 penny stock that moves 30 cents experiences a more significant percentage change than a penny stock at $5. I’ll leave you with one last question before we get into this list of penny stocks: just because they’re “cheap,” are they worth the risk? Now, let’s dive in.

Penny Stocks To Buy For Under $3

Talkspace Inc. (NASDAQ:TALK)

Shares of TALK stock continue attempting to recover from a big hit earlier this month. Even with constant selling pressure since its summer IPO, Talkspace shares encountered even more trouble in November. The company reported mixed earnings while also announcing its co-founders stepping down from the board. However, since this news was released, TALK stock has actually been steadying itself in a stronger uptrend this week.

However, there have been a few details to keep track of, including that both co-founders remain strategic advisors for the next six months. Furthermore, the transition doesn’t necessarily seem to be anything negative for the co-founders. It would appear that it’s more of a shift to a more corporate-driven company. Co-founder Oren Frank explicitly stated that “I am incredibly proud of the company Roni and I have built. Roni and I are entrepreneurs, and we’re looking forward to our next adventure…I am certain that Talkspace will continue to see tremendous success and growth with a new leadership, one that is suited for the different set of needs and skills required for a publicly-traded company.”

Read more: 3 Penny Stocks That Retail Traders Are Buying Right Now

As traders continue digesting this news, it appears that TALK stock has steadily made a rebound. The virtual behavior healthcare company has worked to pioneer digital mental health. Talkspace was designed to enable therapists to engage with patients via text, voice, and video in a fully encrypted web and mobile platform. Given that TALK is only two earnings reports into its public debut, there could be something to watch following the complete transition moving forward.

hot penny stocks to buy Talkspace Inc. TALK stock chart

InMed Pharmaceuticals (NASDAQ:INM)

Shares of InMed Pharmaceuticals took off on November 17. Following months of selling pressure that took it to 52-week lows of $1.25, INM stock pulled an about-face. Thanks to some news from research firm Edison, there’s a bit more optimism coming back into the market. Specifically, Edison laid out the highlights of the latest progress that InMed has made and the outlook for advancing its business model and development pipeline.

Read More: Here’s 3 Penny Stocks You Need to Know About Today

In particular, InMed’s recent acquisition of BayMedica allows it to go directly into commercial stage development. Furthermore, the company advanced beyond the healthy volunteer stage in its INM-755 clinical program by initiating a Phase 2 trial in up to 20 epidermolysis bullosa patients.

Though, InMed’s latest bout of excitement seems to stem from the formal closure of this newest acquisition. Furthermore, Edison explained that “We have adjusted our valuation to US$290m or US$20.53 per basic share, from US$293m or US$24.24 per basic share.”

hot penny stocks to buy InMed Pharmaceuticals INM stock chart

Orbital Energy Group Inc. (NASDAQ:OEG)

Energy stocks continue gaining ground. Whether you’re talking about an alternative, green, renewable, or traditional oil and gas, there seems to be something for everyone. Orbital has taken a multi-pronged approach to the energy sector, including renewables, solar, gas, and even infrastructure solutions.

This week, OEG stock shot higher thanks to its newest acquisition update. Orbital announced the purchase of Front Line Power Construction. The deal further enhances its infrastructure platform. Specifically, Front Line provides solutions for electrical infrastructure, and the transaction is expected to be immediately accretive to Orbital. According to the press release, the combined company revenue is expected to surpass $300 million for 2022.

“Front Line Power is the ideal acquisition to serve as our electric power infrastructure platform and to profitably build revenues both organically and through synergistic acquisitions going forward. Further, it enhances OEG’s transformation into a full-service energy infrastructure services platform,” stated Jim O’Neil, OEG’s Chief Executive Officer, and Vice-Chairman. With this news, OEG stock has become one of the names to watch this week.

hot penny stocks to buy Orbital Energy Group OEG stock chart

Cheap Penny Stocks To Watch Right Now

Whether you’re looking for penny stocks to buy and trade or ones to invest in, it’s essential to have a plan in place. Understanding certain aspects of companies, what might be moving a stock, and any potential resistance in the future are great things to know before placing your buy. What’s more, just because stocks may be low-priced doesn’t always mean they’ll return significant gains. While some former penny stocks like AMC Entertainment (NYSE:AMC) and Novavax (NASDAQ:NVAX) go on to rally thousands of percentage points, others end up doing the exact opposite. So making sure you know your trading basics is vital, especially when finding penny stocks to buy.

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