Top Penny Stocks List and Weekly Update: August 1, 2022

A penny stocks list can be dangerous in the wrong hands…

If you’re lazy, want hot stock picks or are interested in get rich quick schemes, please unfollow me right now as we will not get along & there’s a strong chance I come down hard on you when you try to spread your BS anywhere around me or my students so save me the hassle please!

— Timothy Sykes (@timothysykes) August 2, 2020

That’s why this list of penny stocks comes with a warning:

If you don’t work on your trading education first, you WILL lose money.

What does that mean? I’ll get to that. First, let me tell you what I’m watching.

Top Penny Stocks List: August 2, 2022

The past few months have been rocky…

But lately we’ve seen signs that the market’s in recovery.

The S&P 500 is one of the most widely-followed stock indices out there. It’s fallen steadily from all-time highs in December 2021…

Since mid-June, it’s up over 10%. Here’s the SPDR S&P 500 ETF Trust (NYSEARCA: SPY) which tracks the S&P:

The penny stocks I trade have THRIVED in this bullish market. In the past six weeks, I made almost half of what I made in 2022’s first six months…

I also made my two biggest trades of the year in this period. Both were sub-$1, ‘true’ penny stocks. When the market has volume, these stocks can really run.

On June 27, I traded Evofem Biosciences Inc. (NASDAQ: EVFM) for a $3,870 profit.

I wasn’t even early on this trade. I was running my Las Vegas bootcamp with millionaire trader Roland Wolf — check out our next bootcamp HERE — and traded it after a 40% spike.

Here’s my trade breakdown:

Two weeks later I traded Emergent Health Corp. (OTCPK: EMGE) for even bigger gains. I made $5,819 INCLUDING my loss on a follow-up trade.

It’s still summer, the time when the market traditionally slows down. I keep my risk tight in slow markets, and I ALWAYS recommend caution for my students.

Think like a sniper. A sniper can watch a target for days, weeks even. When the right moment comes, they’re prepared.

Top 5 Penny Stocks to Watch This Week

Some of these stocks might give you déjà vu…

My watchlists aren’t rocket science. They’re a product of paying attention to what’s already happened.

The stocks on this list are former runners with recent news. That means that I’m not the only one paying attention to them.

Brookmount Explorations Inc. (OTCPK: BMXI)

I’ve been watching this stock since this news goosed its share price almost 300%…

StocksToTrade’s Breaking News Chat alerted me to the action. I made $692 riding the tail-end of the momentum…

I overcommitted to my next trade. I was too confident that it would bounce, and I added to my position even when the price was sagging…

I ended up losing $1,358. I’m not proud of this trade, but I still want you to study it. I even made a webinar for my Challenge students about this trade called “How I Screwed Up Today With A Lack Of Discipline.”

The moment you start believing in a penny stock is the moment that it’ll go against you. That doesn’t mean you should ignore the fact that BMXI was priced at $1.50 two years ago, and that it has a history of big runs…

It means that you need to wait until its chart matches your preferred setups. With a press conference scheduled for August 8, there’s a chance more news is on the way.

Q BioMed Inc. (OTCQB: QBIO)

QBIO has been in a death spiral since 2020. But it had a piece of solid news in late July.

According to its own research, its FDA-approved liver cancer drug performs better than the current first-line treatment.

Remember what I said about believing in penny stocks. No, I don’t think that it’s heading back to the $3 it reached in 2020…

I’m watching this stock because it has a good story AND it’s a worthless penny stock. Look at its financials — QBIO has lost around $10 million a year since 2018.

Like most penny stocks, its real product is its shares.

QBIO is skilled at getting the market excited about its distant prospects. I wouldn’t be surprised if more news is on the way.

Better Therapeutics Inc. (NASDAQ: BTTX)

Here’s another stock that recently spiked on an exciting medical study…

Will its therapy become a new standard in treating type 2 diabetes? I’ll believe it when I see it.

I do know that this 2021 SPAC has a history of runs. It trended down in 2022 along with the rest of the market…

As of July 28 it’s up more than 100% off its April lows. Its 20 million-plus float is small for a listed stock — which means it can run on the volume it routinely attracts.

Check out this May breakdown I did of the way BTTX’s volume spikes translate into breakouts.

United Maritime Corp (NASDAQ: USEA)

USEA debuted on the Nasdaq on July 7. Since then it’s had TWO runs of more than 200%.

It’s a subsidiary of Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), a Greek shipping company. Like others in this space, it’s been impacted by global supply chain issues and the war in Ukraine. And, like others, its solution was to go public with one of its assets.

USEA’s initial holdings were in one of Seanergy’s biggest ships. Seaenergy retained super-voting Series B Preferred Shares in USEA, which means it will retain control of the new company. It also picked up dilution-protected Series C Convertible Preferred Shares, which means it’ll be safe from the dilution that’ll inevitably follow…

So what’s the big excitement about USEA? The float is tiny at only 1.5 million shares. That’s a good thing for the parent company, SHIP. It’s also a good thing for traders, as long as you play it safe.

Cryptyde Inc. (NASDAQ: TYDE)

Here’s another spinoff stock to watch.

This one split off from Vinco Ventures Inc. (NASDAQ: BBIG), a sketchy tech company that became a Reddit favorite. Even though BBIG stock has slumped by 300% this year, they know how to play the game.

Damnnnnnn $BBIG what a blatant pump & now crash, great call out by @sttbreakingnews this is why EVERYONE should use https://t.co/wJJduzWdqi day as these pumpers are truly NASTYYYYYYYYY!

— Timothy Sykes (@timothysykes) March 23, 2021

When Vinco launched NFT-focused Cryptide, they created a bridge to BBIG by giving its stockholders shares in the new venture.

Now, with a weird shorting pump, they’ve gotten short-hunters interested.

Marketwatch briefly listed TYDE’s short interest at 171%. It’s no longer listed — sources differ on the real short interest — but it still caught the market’s attention.

It spiked 60% before finishing the day up 40%. I’ll be watching to see what comes next.

Trading Education

Education is what separates the winners and losers in trading.

Newbie: How fast can I make $1 million?

Veteran trader: How fast can you learn patterns, ideal setups & discipline to be prepared for what the market offers?

Newbie: Give me hot picks so I can get rich ASAP

Veteran trader: Give me education so I can learn to be self-sufficient

— Timothy Sykes (@timothysykes) June 4, 2022

I can give you all the “hot picks” you want — but that means nothing if you don’t know what to do with them.

Becoming a self-sufficient trader isn’t a game of getting the right picks before anyone else…

The market is based on supply and demand. In order for a stock to move, other traders have to know about it.

If you spend just five minutes with a powerful trading platform like StocksToTrade, it will be obvious what stocks are hot on any given day…

Guess what? Other traders know that too.

Trading is a battlefield. If you don’t read the instructions, you just get the location — no weapon.

But fear not — giving new traders their education is what I was put on this earth to do!

**Apply for the Trading Challenge Today**

I’ve been trading for more than 20 years. During that time, I’ve made over $7.4 million.

That isn’t what I’m most proud of. I’m prouder that I’ve turned more than 20 of my Trading Challenge students into millionaire traders.

I didn’t do this by giving them hot stock picks. I did it by being relentlessly honest about my successes and failures, and teaching them to be that way too.

You don’t become a millionaire trader by trying to impress your Twitter followers, like so many other ‘gurus’ do. You get there by being honest with them, and yourself. That’s why I’m always honest with my students — ESPECIALLY about my failures.

Because they’re not real failures if I’m following my rules, and cutting my losses quickly. When I lose, I want to show my students the right way to trade. That’s the secret to becoming a self-sufficient trader — knowing how to manage your losses.

Are you ready for this level of real talk? Apply for my Trading Challenge and show me what you’ve got.

We don’t accept everyone. We like to limit our community to people who are humble, people who work hard.

Think you’ve got what it takes? Apply to my Trading Challenge today!

Why You Should Consider Penny Stocks

Penny stocks get a bad rap.

Sure, 99% of them are crap. Most are even outright scams.

But where else can you earn 15-30% profits on a single trade?

Penny stocks are only bad if you start to believe the hype. Take BTTX above…

It’s got an awesome story to sell. And — just maybe — they’ll become the maker of a front-line diabetes treatment.

But you know who I’d bet on instead? Eli Lilly and Co. (NYSE: LLY), a $300 billion company that’s one of the leaders in diabetes care

They’ve got a $7 billion R&D budget. So yes, they’ll probably beat BTTX to any game-changing advancements.

If you buy a penny stock thinking it will become the next Amazon, you’re basically buying a lottery ticket. That can be fun, but it’s no way to build your trading account.

The right way to go about it requires discipline and a good trading plan.

How to Choose the Right Penny Stocks to Trade

I want my students to become self-sufficient. Like I said before, my watchlists aren’t rocket science. I build them by sticking to these eight steps.

Look for Big Percent Gainers

How do you find hot stocks? The first step is learning to use a stock screener.

I scan in premarket to know what’s moving. Penny stocks that know the game often put out PR in premarket. This gives traders the whole day to send their stock prices up before they dilute.

I typically look for 10% gainers. These are the stocks that the rest of the market has their eyes on.

Does it Have News?

We’re in the world of penny stocks, so this is a fair question to ask.

The ‘product’ of most penny stocks is their own stock. They want to pump it up, then insider trade/dilute into this built-up demand.

A lot of penny stock traders will believe anything — but I won’t. I want to see more than a celebrity tweet of a stock before I trade it.

How’s the Volume?

Volume is the proof of demand. If a stock has enough volume — on a small enough float — that’s a good sign that the price will continue to move.

Look at the Exchange

The OTC exchanges aren’t for everyone.

Figure out whether your strategy works with OTC stocks. If you’re not willing to pay the fees and deal with low volume, you might want to stick to listed stocks.

Investigate the Company History

This is another good way of seeing whether news will hold up.

Is this a real company? Is their stock a former runner?

You know the saying ‘fool me once, shame on you, fool me twice, shame on me?’ Smart traders don’t get fooled twice.

Always Verify Their Claims

Sketchy penny stock companies will say anything to pump their stocks.

Luckily, you have the internet at your disposal. Always check up on their claims.

Be Skeptical

Expect the stock you’re watching to tank. Nine out of 10 will — the percentage goes higher if you watch them long enough.

Rinse and Repeat to Add Penny Stocks to Your List

That’s it! Keep an eye on stocks that are moving, and wait for their next move. Never trade them before they fit your preferred setup.

Frequently Asked Questions About This Penny Stocks List

Trading is the hardest thing you’ll ever learn. There are no dumb questions.

For more information and a detailed guide on how to create a watchlist, read “Stock Watchlist Guide: Tips & Examples to Develop Your Own.”

How to Use the Top Penny Stocks List

You should use this list as a model for your own watchlists.

Don’t just copy the stocks on this list. Learn my selection process and create your own.

Sign up here and I’ll send you a new NO-COST watchlist every week.

Conclusion

Penny stocks can be a blessing or a curse — it’s all in how you trade them.

If you’re new to this, start paying attention. Study the patterns I teach.

That’s the only way to survive in this penny stock game.

Do you have your own penny stock watchlist? How many of the stocks on this list are on yours?