4 Hot Penny Stocks To Buy For Under $5 Outperforming Dogecoin In April

While 2022 might be the ‘year of the active trade,’ it is also continuing the ‘era of the meme stonk’ to some extent. We all remember how exciting it was for beaten-down penny stocks in 2020 and 2021. Shares of companies like AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) surged on the back of “the Ape movement” and a fight against the “hedgies.” Fast-forward to 2022, and this speculation-based retail trading trend remains a core driver of daily momentum in the stock market. The meme trend isn’t limited to stocks. Cryptocurrencies and the so-called sh*tcoins also gained appeal as the complete antithesis to “fundamental” investing. Shiba Inu, Safemoon, and, yes, Dogecoin are among the most popular sh*tcoins discussed in mainstream conversations.

What’s Better: Crypto vs. Penny Stock

As we’ve seen, the last month of trading hasn’t been beneficial for the stock market. That has also become the case for significant cryptocurrencies, including Bitcoin (down 11.5% over the last month), Ethereum (down 8.8% over the last month), and Litecoin (down 19.1% over the last month). Believe it or not, meme-crypto, Dogecoin, however, has been in the green over the last month. Albeit not by much, the Shiba Inu-themed cryptocurrency is up roughly 6.3% compared to where it traded one month ago. Does this mean that “the year of the meme” is in full effect? By the look of it, retail traders are hunting for volatility centers while broader markets work through bearish trends. That also goes for penny stocks, and today we look at a handful that are not only trading higher but ones that have outperformed the popular meme-crypto, Dogecoin.

  1. Cango Inc. (NYSE: CANG)
  2. Tellurian Inc. (NYSE: TELL)
  3. Quoin Pharmaceuticals LTD (NASDAQ: QNRX)
  4. Revelation Biosciences Inc. (NASDAQ: REVB)

Cango Inc. (NYSE: CANG)

Best penny stocks to buy dogecoin Cango Inc CANG stock

Last week, Cango Inc. made headlines late in the evening on Friday. The company announced a special cash dividend on its outstanding shares. This will be paid on June 15th with a shareholder record date of May 25th. In addition, the automotive transaction service company announced a new share repurchase program. The company announced that it plans on buying back up to $50 million worth of its outstanding stock beginning April 25th.

Given that Monday is the effective date of the buyback’s launch, it seems to have come as a bullish sign based on early reactions. What’s more, CANG stock has also become a standout among other China-based names. At the beginning of the week, Lockdown news sent a shockwave across Asia’s markets. Leading China-based stocks, including Alibaba, JD, and Bidu, all dipped lower at the start of this week. Meanwhile, CANG stock jumped above its 50-day moving average for the first time since March.

Tellurian Inc. (NYSE: TELL)

penny stocks to buy Tellurian Inc TELL stock logopenny stocks to buy Tellurian Inc TELL stock logo

Even though energy stocks have been pulling back, this week may have brought some new interest at lower levels. Oil and natural gas stocks are in focus on global supply chain constraints keep prices high. Tellurian Inc. is a Liquified Natural Gas (LNG) company that made a substantial rebound on Monday. Shares of TELL stock popped back above $4.80 after falling to lows of $4.55 during premarket trading. In addition to the recent slide in energy stocks, TELL shares slipped lower on the back of news it was doubling the size of a recent offering. This brought the maximum size to $400 million.

One of the core points of focus of the company this year is its Driftwood LNG project expansion. Tellurian said it is “months away” from securing the necessary financing in an April update. Bankers at Credit Suisse seem to feel that this could be a good value add for Tellurian. “We’d expect TELL to fast track the next phase of expansion which likely includes more favorable contract terms versus the initial two-plant phase,” Credit Suisse analysts, including Spiro Dounis, said. The firm also upgraded TELL stock to Outperform from Neutral and boosted its $5.50 price target to $8.

Thanks to rising demand for LNG, globally and optimism surrounding the next phase of Tellurian’s Driftwood project, TELL stock could be on the radar heading into Q2.

Quoin Pharmaceuticals LTD (NASDAQ: QNRX)

best penny stocks to buy dogecoin Quoin Pharmaceuticals QNRX stockbest penny stocks to buy dogecoin Quoin Pharmaceuticals QNRX stock

It’s a big week for earnings and a big week for corporate updates. Quoin Pharmaceuticals is one of the penny stocks with news this week, which has brought a quick turnaround in its recent trend. QNRX stock has treaded water for the bulk of the last few weeks. Updates at the end of March also gave a bit of a foreshadowing of what may be in store for 2022. The company said it targets regulatory approvals for its QRX003 Netherton Syndrome genetic disease treatment.

This week, the company announced the FDA Clearance of an Investigational New Drug application for QRX003. “We are extremely pleased to announce clearance of our IND application, and we look forward to initiating clinical testing in patients with NS in the first half of this year. This is an important milestone both for Quoin and potentially for this very underserved patient population,” said Dr. Michael Myers, Chief Executive Officer of Quoin.

With testing expected for the first half of this year, the IND milestone is one that the market has taken with a bullish tone. Shares of QNRX stock popped higher during premarket trading on Monday.

Revelation Biosciences Inc. (NASDAQ: REVB)

best penny stocks to buy dogecoin Revelation Biosciences REVB stockbest penny stocks to buy dogecoin Revelation Biosciences REVB stock

Like Quoin, Revelation Biosciences has experienced a more muted move in the stock market. There was a brief surge in late March after Revelation outlined details on its Phase 2b viral challenge study evaluating the efficacy of its intranasal REVTx-99a influenza A prevention treatment.

Preliminary results from an interim statistical analysis of the study showed that the treatment did no. t meet its primary endpoint, which sent shares tumbling. James Rolke, Chief Executive Officer of Revelation, said that the company remains “committed to the development of our other product candidates including REVTx-99b for management of allergic rhinitis and other underlying conditions; and REVDx-501, our universal at-home screening test for respiratory viral infection.”

Earlier this month, the company hosted a conference call providing a corporate update on several initiatives for the year ahead. These included ongoing diagnostic partnering discussions as well as details on its CLEAR study enrollment with top-line data expected later this year. With the recent uptick in momentum that stemmed from this update on April 7th, REVB stock has recently been one of the penny stocks to watch.

Penny Stocks vs. Dogecoin: The Battle Continues

Having apps like Robinhood or Webull makes switching between stocks and cryptocurrency easy. The fight between which is a better buy – penny stocks or dogecoin – remains a factor traders are weighing. With the dip in broader markets and the cryptocurrency arena itself, it comes down to what’s trending in the stock market today. So far, it looks like a handful of these penny stocks are outpacing the Shiba Inu coin.



Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘1455745151219138’);
fbq(‘track’, ‘PageView’);


Be the first to comment

Leave a Reply

Your email address will not be published.


*