Investor Alert

Jan. 14, 2021, 6:43 a.m. EST

Best Penny Stocks To Buy Around $1? 4 To Watch Before Friday

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Jan 14, 2021 (Penny Stocks via COMTEX) -- Should You Buy $1 Penny Stocks Right Now?

This has been one of the wildest weeks for penny stocks and we're not even half-way through January. Not only have we seen Tweets from Elon Musk trigger multi-thousand point gains, but we've also watched the Tiger King influence stocks under $1. While these weren't the only notable headlines in January, they surely have been ones that've brought attention to small-cap stocks. Better yet is the fact that the benchmark ETFs like the Russell 2000 Small-Cap ( IWM ) has continued making record high after record high. Thursday's premarket is no different

Trading in the IWM during premarket trading saw the ETF reach highs of $211.77. This edged out Wednesday's record high by 4 cents. What's more, is that the IWM pulled back significantly by the end of the session. So as of the 8 o'clock hour, small-caps are gapping up slightly. In any case, I think this justifies the point I've tried making for weeks which is retail traders are looking for penny stocks to buy. Even beyond price performance, if you look at some of the most active stocks in the market, in general, penny stocks take several seats in the top 10.

With this has come some euphoria from traders. Let's face it, when most stocks and markets are going up, it's easier to make money. But with there's choppy action or a bearish trend, things become more difficult. In this case, I want to emphasize the importance of having a game plan going into trades. "Hoping" a stock goes higher or that it rebounds, isn't a strategy. Set relevant profit targets, have stop losses planned out, and if you're in a volatile trade, make sure you pay attention to that trade.

Penny Stocks to Buy [or avoid]

When we're talking about some of the cheapest penny stocks to buy - ones trading around $1 or less - volatility can play a huge role. But with that comes lots of opportunities to profit. Keeping this in mind, are these penny stocks to buy right now or should you avoid these higher-risk names?

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One of the penny stocks that we have been discussing for a few weeks now is Oragenics Inc. Since climbing over 50% in the past few weeks, OGEN may be worth taking a look at. Oragenics is a biopharmaceutical company working on a wide range of treatments. Its focus is on treating infectious diseases.

This includes treatments like OG716 and AG013 which work as an antibiotic and treatment of oral mucositis respectively. The company has a large range of products in its pipeline that are currently in various stages of the approval process. Recently, Oragenics has been working on a vaccine to fight against Covid-19. Its vaccine known as TQL1055 or Terra CoV-2, is a vaccine that could have lasting effects on preventing the coronavirus.

Last week, the company announced that it had entered into a material transfer agreement with Adjuvance Technologies to produce the Covid-19 vaccine. As a follow-up, this week the company issued a letter to shareholders. One of the highlights was explaining that the company's drug could provide benefit against other coronaviruses.

Shares of Vertex Energy could also be in focus this week. Thanks to the surge in energy stocks, VRTX has experienced a stronger move during the last few months of 2020. Now, in 2021, the energy stock has continued higher. Much of the excitement has stemmed from the growth that Vertex saw late last year. For instance, during the third quarter, Vertex beat earnings estimates by a large margin. Furthermore, the company was able to do this amid both the pandemic and two hurricanes that brought severe flooding in areas of Vertex's opperations.

Those who're looking at Vertex right now should keep the company's outlined operating strategy in mind. Specifically, in November, CEO Benjamin Cowart said, "Beginning in the first quarter 2021, we plan to begin supplying our Marrero refinery with pre-treated intermediates from Myrtle Grove, consistent with our continued focus on asset optimization…This project has the potential to be a significant catalyst for growth, further positioning our business as a leading supplier of renewable and alternative feedstocks."

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