When it comes to stock investments, it is a well-known fact that investors are often to look into stocks which may have gained momentum. It may not necessarily mean that the stock may have clocked gains but a stock in momentum may eventually end up clocking gains and that is the reason investors almost always veer towards these stocks.
Same principles hold true when it comes to penny stocks and every day millions of investors look to jump on to stocks which may have displayed strong momentum. Here is a quick look at some of the penny stocks which gained momentum recently.
Evio Inc (OTCMKTS:EVIO) – The first stock momentum play to look into is Evio.
There has been no news about the company recently but on Thursday, the stock had been in the middle of a massive selloff and ended the day with a decline of as much as 50%. In this context, investors ought to perhaps look into the nature of Evio as a company.
The company is involved in providing advisory services and analytical services to the cannabis space in the United States. At this point in time, it may be a good time for investors to keep an eye on the price action of the stock.
Wearable Health Solutions Inc (OTCMKTS:WHSI) – The wearable medical devices industry has managed to grow at a remarkable rate over the course of the past years and one of the companies among the penny stocks categories that ought to be looked into is Wearable Health Solutions Inc.
Paul La Monica of CNN noted yesterday that the healthcare sector is one of the sectors that could remain robust despite there being an economic downturn and the same was noted by Solita Marcelli of UBS in his report. In this context, it should be noted that although Wearable Health Solutions is a small company in its sector, it has been in business for a long time and already has products in the market. Hence, it could be said that it is also already operating at a level at which it is competing with some of the biggest companies in the world.
It is engaged in providing its dealers and distributors spread across the world with innovative wearable healthcare products. Not too long ago, Theodore O’Neill of Litchfield Hills Research published a note about Wearable Health Solutions and noted that the stock could hit as much as 20 cents a share.
At the time of the publication of the report, if the stock hit 20 cents a share then it would have represented a jump from 1000%. The company is also going to launch its iHelp Max 4G product soon and that is another potential positive trigger for the Wearable Health Solutions stock in the near future. It may be a good idea to add the stock to your watch lists and watch for further developments.
Beyond Commerce Inc OTCMKTS:BYOC) – Yesterday, the Beyond Commerce stock was in the middle of a massive rally and ended up with gains of as much as 50% as a consequence. While there was no news about the company yesterday, it should be noted that the day before the company had in fact come into focus among investors.
It announced that it had inked a definitive agreement by way of which it was gong to complete the acquisition of California based company Electric Built.
Jetblack Corp (OTCMKTS: JTBK) – On Thursday, there had been no news at all about Jetblack Corp but that did not stop the stock from suffering from a significant selloff and it ended the day with a decline of as much as 24%. In this situation, it may be a good idea for investors to perhaps consider taking a look at the company and its operations a bit more closely.
It is involved in the cannabis industry. At this point in time, the company is involved in the process related to the transfer of ownership as well as locations of the Tier 1 Marijuana Producers Licenses with OLCC. In a situation in which there is no news, the best investors could do is to keep a watch on the stock.
Marijuana Company of America Inc (OTCMKTS:MCOA) – Marijuana Company of America Inc is regarded as one of the ore innovative operators in the cannabis and hemp industries. The company saw its stock rally strongly on Thursday as it ended the day with gains of as much as 25%.
The Marijuana Company of America stock soared after it announced that Marco Guerrero, who used to be a director in the company, had been appointed as a special advisor to hempSMART, which is South American unit of Marijuana Company of America.
Limitless X Inc (OTCMKTS:BLAB) – There has been no news about Limitless X Inc for quite a while but the stock attracted attention from investors nonetheless and ended the day with gains of as much as 22%. Back on June 27, the company had come into the news after it announced that it expected preliminary sales and earnings for the current fiscal year of 2022 to be quite strong.
Bowmo Inc (OTCMKTS:CZNI) – Although there was no news at all about Bowmo Inc this week, the company saw its stock make a big move with a gain of 300% in the past week
The company is mainly known for providing intelligent software solutions that are particularly applicable to the staffing and recruiting industries. It is also well-known for providing a platform known as the V-RPO platform.
