If you’re looking for the best penny stocks to buy this week, you’ve got your work cut out for you. Unlike years past, the stock market is a much more volatile place to “play” with your money. Building your portfolio takes much more than just a Reddit account and some cash in Robinhood.
The early days of the pandemic and into 2021 saw the rise of the retail trader, and it seemed as though stocks only went up. Choose most three- and four-letter combinations to identify stocks to buy. Chances were, you had more winning trades than losers back then. Fast-forward to the end of 2022 and into 2023, and the landscape has changed.
If you look at some of the most popular penny stocks during the pandemic, meme stocks, the vast majority are trading significantly lower and with greater daily volatility. AMC Entertainment (NYSE: AMC) is in the spotlight recently after a legal settlement was reached this week. AMC stock traded as low as $3.64 during Tuesday’s premarket session.
This is the lowest the meme stock has traded since the pandemic. This isn’t to say that all penny stocks are bad or that you should avoid them entirely. But it is worth mentioning that the trends are changing, and adjusting your strategy, as a result, will be important. In this article, we look at a few penny stocks to watch after recent developments prompted momentum in the stock market this week. Whether or not they’re the best penny stocks to buy is up to you. The first step in deciding what to add to your watch list is researching potential catalysts.