Nov 11, 2021 (Penny Stocks via COMTEX) -- If you're an active day trader, penny stocks are part of the lifeblood of the market. Any given day can produce at least a handful of names that ultimately experience explosive moves. Whether it's 50%, 100%, or even 1,000%+, these are actual performance figures that traders have seen. Though not all penny stocks perform this way, the same sentiment holds true. If you know how to trade these stocks properly, there are plenty of ways to make a lot of money in very short order.
One of the hot topics of discussion in the stock market today has centered around this idea of the metaverse. That's thanks to Facebook ( NASDAQ:FB ). The social media company announced it would be changing its name (and ticker symbol) to reflect a new, more significant picture directive for the company. What will be known as Meta, the "new Facebook," will focus on bringing augmented reality, virtual reality, and digital experiences into the mainstream.
While you've got big names like Microsoft ( NASDAQ:MSFT ), Advanced Micro Devices ( NASDAQ:AMD ), and NVIDIA ( NASDAQ:NVDA ) in the bigger spotlight, this article will look at the "cheaper" end of the spectrum: penny stocks. These sub-$5 companies may be smaller, but they've gained some attention in the market thanks to current business models.
Metaverse Stocks To Watch
IZEA Worldwide, Inc. ( NASDAQ:IZEA )
Vinco Ventures ( NASDAQ:BBIG )
Super League Gaming Inc. ( NASDAQ:SLGG )
Meta Materials Inc. ( NASDAQ:MMAT )
Enthusiast Gaming Holdings Inc. ( NASDAQ:EGLX )
1. IZEA Worldwide, Inc. /zigman2/quotes/200407767/composite IZEA -6.09%
IZEA was a popular penny stock to watch during the height of the 2020 pandemic. The advertising tech and influencer marketing company. It's coming off of a recent earnings update showing the company was able to beat sales estimates that Wall Street set for the IZEA. Furthermore, the company pointed out that "IZEA previously announced that July 2021 was the best July in company history for Managed Services bookings. The company has since added wins from both new and existing customers. Managed Services bookings for Q3 2021 to date have now exceeded all of Q3 2020."
On the heels of this growth, some have pointed to IZEA for other reasons. One of the catalysts that some have pointed to is an older tweet from Cathy Hackl, who has a Twitter title of "Chief #Metaverse Officer & Strategist working w/ top brands on virtual worlds, fashion." In the tweet, Hackl pointed out her inclusion in an AR influencers list. (See: "IZEA Launches World's First Virtual Reality Influencer Network").
In addition to this subtle tweet, you also can't forget that the company announced the launch of its Virtual Reality Influencer network back in 2016. According to a statement from that PR, "The new network gives content creators the ability to produce highly-engaging virtual reality content for brands and agencies, and allows marketers to take their influencer and content marketing campaigns to the next level."
With a budding interest in AR/VR experiences, could IZEA stock's "old news" see some new life thanks to META?
2. Vinco Ventures /zigman2/quotes/206251935/composite BBIG -18.83%
Vinco Ventures has been in and out of the retail trading spotlight over the last few months. Whether we're talking about short squeeze penny stocks , TikTok competitors, or cryptocurrency, BBIG stock has been on the list. But have you thought about Vinco as one of the metaverse stocks to watch?
Recent interest has focused on the spinoff of Cryptyde, Inc., the company's cryptocurrency company. The spin-off will see Cryptyde become a stand-alone Nasdaq-listed company under the ticker symbol TYDE. Of course, with things like Bitcoin surging, BBIG stock seems to have caught some sympathy momentum.