Investors are optimistic about the global economic uptrend with increased consumer spending, and employment gradually begins to recover. It is possible to profit from penny stocks whether investors want to “day trade,” a trading strategy that involves pumping and dumping a stock. One perfect example of a penny stock that skyrocketed in 2020 is Blink Charging Co. Based in Miami Beach, Florida, the company provides EV charging equipment and services in the U.S. Blink Charging Co. also offers a cloud-based network that enables remote monitoring and management of EV charging stations. Another penny stock that exploded in 2020 was Plug Power Inc. One of the most successful yet controversial stocks in 2020 was video game retail store, GameStop Corp. Shares of GameStop Corp. notably soared in January 2021 after a group of mainly millennial traders on the Reddit message board WallStreetBets executed a short squeeze and a gamma squeeze, boosting the stock from under $20 at the start of the year to as high as $483 on January 28.
If you are a beginner investor looking for cheap stocks to buy, Insider Monkey’s list of the best stocks under $5 in 2021 will give you light on excellent low-priced stocks with big upside potential. Nokia Corporation is one of the best stocks to buy under $5 in 2021. Electrameccanica Vehicles Corp’s Arizona facility will produce up to 20,000 SOLOs per year, the company’s EV flagship, and employing up to 500 workers. There were 7 hedge funds that reported owning stakes in Electrameccanica Vehicles Corp. Ranking 9th on the best stocks under $5 in 2021 is digital media company LiveXLive Media, Inc. California-based LiveXLive Media, Inc. digitizes live events so that people can watch them from the comfort of their own homes. Pixelworks, Inc. designs and distributes cutting-edge video and pixel-processing chips and applications. The company has a market cap of $159 million and revenue of $40.9 million in 2020. Abeona Therapeutics Inc. was founded in 1974 to develop gene and cell therapies for life-threatening rare genetic disorders, including Sanfilippo syndrome types A and B. The company has a market cap of $150.5 million and revenue of $10 million in 2020. Vancouver-based uranium exploration and development company NexGen Energy Ltd. specializes in the acquisition, discovery, valuation, and production of uranium assets. More companies are listed in 10 Best Stocks Under $5 in 2021.
