3 Short Squeeze Penny Stocks Better Than Dogecoin To Buy For Under $5

Unless you’ve lived under a rock, you know what Dogecoin, “doge,” or “that Shiba Inu” coin is. Along with former penny stocks like AMC and GME, cryptocurrency meme coins and tokens have captivated the “Ape” movement. While Doge is far from its record high levels above $0.70, it has sparked a bigger discussion for crypto and penny stocks: is the risk worth the reward? Thanks to the pullback in the stock market this week, the answer to that question may not be as clear to some traders.

If that’s you, check out the article: 4 Reasons You’re Not Making Money With Penny Stocks and get more clarity on trading because whether the market or crypto is up or down, there are still many ways to make money. Penny stocks are one of these ways and today we look at three short interest stocks outperforming the ever-so-popular dogecoin.

Short Squeeze Penny Stocks To Watch

  1. Hycroft Mining (NASDAQ: HYMC)
  2. Reliance Global Group (NASDAQ: RELI)
  3. Hour Loop Inc. (NASDAQ: HOUR)

Best Penny Stocks To Buy

If you’re looking for the best penny stocks to buy, short interest data might interest you. Thanks to AMC and GME, new traders are now well aware of how big a move stocks can make when there’s a squeeze. There aren’t any guarantees that stocks with high short interest will pull a move like AMC Entertainment (NYSE: AMC) or GameStop (NYSE: GME). But the first place to start your research is to identify short interest data. Today we look at a handful of penny stocks to watch with high short interest and have outperformed some of the top-searched assets, including cryptocurrencies like dogecoin.

Penny Stocks To Buy [For Under $5] 1: Hour Loop Inc. (NASDAQ: HOUR)

Sticking with the tech trend, Hour Loop joins this list of short squeeze penny stocks. Earlier this year, the company went public and has since worked to perform for investors. Shares jumped to highs of $10.33 but haven’t managed to reclaim anywhere near those levels since. The company is an online retailer focusing on eCommerce in the U.S. It acts as a third-party seller on sites like Amazon and Walmart websites. Its competitive advantage lies in its technology and identifying product gaps to keep products in stock.

Trading Penny Stocks on April 6th, MOBQ Stock Pushes Up

Hour Loop recently opened three new offices in Taiwan and reported its 2021 results. Total revenue reached $62.79 million with a net income of $4.78 million. Something that has raised some questions is the departure of Hour Loop’s CFO (for personal reasons) and what that means moving forward. For now, CEO Sam Lai will serve as Interim CFO.

Is HOUR one of the short squeeze penny stocks to watch? According to Fintel’s data, HOUR’s short float percentage sits at 20.04%.

short squeeze penny stocks to buy Hour Loop Inc. HOUR stock chart

2. Reliance Global Group (NASDAQ: RELI)

Insurance stocks have become a unique focal point for traders thanks to the recent course of events in the market. Interestingly enough, insurance companies are attractive during inflationary conditions (and periods where inflation isn’t so high) for a simple reason. Whatever you own – cars, boats, yourself – requires protection, and insurance is one of the ways to protect your valuables. It’s one of the industries that Warren Buffet has made a point to plant a large flag.

Among penny stock traders, Reliance Global has become a popular name. Shares surged at the end of the year in 2021 thanks to speculation and, yes, excitement in short squeeze stocks. Reliance uses artificial intelligence and cloud-based technologies to personalize the insurance experience. Last week the company reported its latest round of earnings and showed strong growth for 2021. How strong? Reliance reported an uptick of 33% in revenue for the year.

Furthermore, CEO Ezra Beyman alluded to a roll-up strategy planned for the future. In a March press release, Beyman explained, “In addition to our focus on organic growth, we have demonstrated a successful acquisition track record, where we’ve acquired profitable cash flow positive businesses with exciting growth strategies at attractive multiples…We believe the Company is ideally poised to capture a significant share of the market in the years ahead, whilst concurrently delivering maximum value to our shareholders.”

How does the short data look? Fintel shows the current short float percentage in RELI stock sitting at 12.2%.

short squeeze penny stocks to buy Reliance Global Group RELI stock chart

Penny Stocks To Buy [For Under $5] 3: Hycroft Mining (NASDAQ: HYMC)

Coincidentally, top meme stock AMC is one f the reasons that Hycroft Mining has received so much attention recently. The mining company’s shares surged throughout March and into April after the movie theatre company made a multi-million dollar investment into Hycroft.

AMC Entertainment (AMC) Sees Golden Opportunity In Penny Stocks

AMC CEO Adam Aron pointed out that the company is “taking AMC’s demonstrated achievement in writing the playbook as to how to navigate through liquidity challenge and applying our lessons learned to another entity in Hycroft Mining.”

Hycroft recently gave a corporate update and annual report. Among the milestones were significant investments (including that of AMC’s) and proceeds from another multi-million dollar financing deal. Has this financing become a source of interest for the current short situation? According to Fintel.IO data, HYMC’s short float percentage sits at 8.2%. Though it may not be the highest on this list of penny stocks, it is a figure much more significant than it was a month ago.

short squeeze penny stocks to buy Hycroft Mining HYMC stock chart

Are Short Squeeze Stocks Worth The Risk?

When you find penny stocks to buy that end up “squeezing,” it can be one of the most exciting things to experience as a trader. It is a tremendous amount of action in a very short period that can result in huge gains. With that can come just as significant a drop in price if you aren’t familiar with how short squeezes work. So if you’re looking for short squeeze stocks to buy, make sure you understand all things in motion. News, filings, corporate events, etc., can all play a role. If or when a squeeze takes place, it’s also worth understanding how to properly trade and take profit efficiently.

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel.

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]

Read Full Article


Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here