4 Penny Shares To Watch After OTRK Inventory Explodes Over 140%

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Small-cap summer time is right here, and there are a big selection of penny shares to purchase proper now. Final week we noticed the epic rallies in HKD inventory, TBLT, and plenty of others, which helped get up low cost shares. Not solely that however the low float penny shares pattern has reemerged within the inventory market at present. With a one-two punch of technical catalysts and a retail buying and selling thirst for momentum, the stage is ready.

The most recent identify to pique curiosity is Ontrak Inc. (NASDAQ: OTRK). Why is OTRK replenish at present? After months of slowly trending decrease, a spherical of firm updates, together with upcoming earnings, has resonated with merchants. As well as, the corporate named a brand new Chief Medical Officer charged with taking Ontrak’s healthcare know-how options to the subsequent progress part. Whereas OTRK inventory is nowhere near a “low float” penny inventory, it was on the checklist of prime brief squeeze shares to look at.

In line with knowledge from Fintel.IO, it has a 20.24% brief float. TDAmeritrade additionally reveals this determine at round 20%.

Greatest Penny Shares To Purchase

Because of the inventory market crash this yr, there’s no scarcity of firms with massive bearish bets. When the correct mix of excessive brief curiosity and better shopping for stress comes into play, we’ve seen large breakouts just like the one which OTRK inventory has skilled.

Keep in mind that simply as rapidly as they transfer up occurs, the reverse can set off simply as rapidly. So for these taking a look at OTRK inventory and excited about discovering different penny shares to look at at present, we’re taking a look at a handful of different firms experiencing heightened exercise ranges.

  1. Mullen Automotive Inc. (NASDAQ: MULN)
  2. Hut 8 Mining Corp. (NASDAQ: HUT)
  3. Volta Inc. (NYSE: VLTA)
  4. MannKind Company (NASDAQ: MNKD)

Mullen Automotive Inc. (NASDAQ: MULN)

Electrical automobile shares are getting charged up this week because of Tesla (NASDAQ: TSLA). Whereas it might not have direct ties to Tesla’s newest battery deal, the eye on the automaker stemming from a countersuit with Twitter (NYSE: TWTR) has prompted momentum within the inventory market at present. This checklist of penny shares has a couple of EV-related names which have adopted swimsuit with TSLA inventory.

Mullen Automotive is without doubt one of the fashionable names amongst retail merchants. Earlier this yr, it gained favor with Redditors for the progress the corporate was making with its EV platform. In latest weeks it closed important offers with the likes of DelPack Logistics for EV cargo vans (600 to start out). The importance of that deal was that it additionally included an organization (DelPack) that was an Amazon Supply Companies associate.

It was additionally added to the Russell 2000 and 3000 indexes broadening publicity to the general market. With a brand new automotive growth heart opening in California, Mullen continues increasing its footprint. In a press launch this week, avid Michery, CEO and chairman of Mullen Automotive, defined, “This facility is a good addition and the logical subsequent step within the evolution of our company footprint as we start to scale our groups and dedicate extra assets to assist our EV packages…Irvine know-how’s hub is a good location for us to anchor our EV workforce and supplies us with the house and potential expertise pool to assist our progress over the subsequent few years.”

For these making a listing of brief squeeze penny shares, MULN’s brief float share hovers round 15.8% proper now, in accordance with Fintel knowledge.

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Volta Inc. (NYSE: VLTA)

One other EV-related identify on this checklist of penny shares is Volta. It’s taking up a “picks and shovels” strategy to the business. Volta is constructing an electrical automobile charging community. It additionally gives choose purchasers entry to its media community, which was dropped at gentle when Michelin partnered with Volta to deliver its “Movement For Life” marketing campaign to Volta’s media community. Basically, the EV charging stations double as billboards permitting for a dual-purpose answer.

Final month, Volta additionally secured a take care of the Metropolis of Hoboken to broaden its EV charging infrastructure. This scales the charging station capabilities and grows the Volta media community with extra places.

The Mayor of the Metropolis of Hoboken, Ravi S. Bhalla, weighed in on this deal, saying, “Via this partnership with Volta, regardless of the place a resident lives in Hoboken, they are going to be inside a five-minute stroll of a charger, making it simpler to personal an electrical or plug-in hybrid automotive. I stay up for reducing the ribbon on the primary 25 stalls within the new yr, which may have no affect on the municipal finances.”

With EV inventory on the radar at present and a brief float of roughly 15%, VLTA inventory has gained momentum.

Hut 8 Mining Corp. (NASDAQ: HUT)

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Bitcoin costs and the general cryptocurrency market have been extremely unstable just lately. This has helped put a highlight on Bitcoin and blockchain shares. Hut 8 Mining is without doubt one of the names intently tied to the value of the “digital gold” foreign money and has loved an uptrend in latest classes.

Whereas Bitcoin costs have dictated a lot of the directional transfer for this area of interest, Hut has additionally made a number of achievements including to the combo. Particularly, a latest manufacturing replace gave the market an concept of the scale and scope of Hut’s present operations and forward-looking technique.

[Read More] 4 Penny Shares To Watch After HKD Inventory Explodes Over 2000%

In a July replace, Hut mentioned a number of highlights, together with its Bitcoin holdings. These elevated by 328 by June thirtieth. Hut additionally has an “unencumbered” Bitcoin reserve of seven,406. At at present’s worth of roughly $23,000 per BTC, these reserves are valued at over $170 million.

MannKind Company (NASDAQ: MNKD)

With a brief float of roughly 11.5%, MannKind isn’t probably the most recognizable identify on a listing of penny shares with larger brief curiosity. However that doesn’t imply it isn’t value watching, in accordance with some merchants. The corporate focuses on endocrine and lung illness therapies. Its FDA-approved Afrezza Inhalation Powder is a flagship product for delivering insulin to customers.

MannKind additionally has Tyvaso DPI, one other FDA-approved therapeutic for sufferers with pulmonary arterial hypertension. What has traders lively at present may have one thing to do with an upcoming presentation. MannKind introduced Monday that it will take part within the BTIG Biotechnology Convention subsequent week. Chief Government Officer Michael Castagna, PharmD, and Chief Monetary Officer Steven Binder will host 1-on-1 conferences all through the occasion.

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | information@pennystocks.com



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | information@pennystocks.com





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