The mainstream media is pushing a bunch of doom and gloom after the collapse of SVB Financial Group (NASDAQ: SIVB) and Signature Bank (NASDAQ: SBNY).
When Monday’s opening bell rang…they wanted you to believe the world was ending…
But the market is still here. And many banking stocks are bouncing from their lows.
The crazy thing is it had almost ZERO IMPACT on penny stocks.
And that’s the beauty of penny stocks, they are like an uncorrelated asset class.
In fact, if you’re a penny stock trader, the last week has been business as usual…
You have two options, buy into the fear that the overall market is doomed. Or trade an asset class that is providing traders with bountiful opportunities daily.
Here’s what’s on my radar…
Penny Stocks To Watch
Ainos, Inc. (NASDAQ: AIMD) was the most liquid low-float stock on Oracle yesterday. It became my number one watch but we didn’t get the follow-through to the high $1 like I was hoping.
But it was day one … And we know those haven’t been the best plays right now. The stock chopped around VWAP for most of the day but it’s still up roughly 70%.
Today it’s a watch for breaks above yesterday’s high.
Crypto stocks Marathon Digital Holdings, Inc. (NASDAQ: MARA) and Riot Platforms, Inc. (NASDAQ: RIOT) have been in play this week with bitcoin bouncing.
Traders think crypto could be considered a safe haven from the negative banking headlines. There could also be increased confidence with the bailout announcement for depositors in SVB and Signature banks.
Ambipar Emergency Response (AMEX: AMBI) is a SPAC that spiked over 250% yesterday.
SPACs have been hot as we’ve seen with the runs in Intuitive Machines, Inc. (NASDAQ: LUNR), Ocean Biomedical, Inc. (NASDAQ: OCEA), and EUDA Health Holdings Limited (NASDAQ: EUDA) recently.
AMBI could be the number-one watch today if we get news or it regains key levels in premarket.
As you can see there are still a ton of potential plays in penny stocks. Stick to your process and patterns and tune out the noise from the overall market.
If you want more of my watchlists, game plans, and market insights — join StocksToTrade Advisory.
Have a great day everyone. See you back here tomorrow.
Lead Trainer, StocksToTrade
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