This week’s penny stocks list focuses on the power of a catalyst to create sector momentum. Last Wednesday, there was a rumor that marijuana legalization could be up for a House vote this week.
More on weed stocks in a bit.
First, there’s something important happening this week I want to share with you.
This took a BIG mindset shift for me. Be sure to keep reading as I’ll go into exactly how my mindset shifted.
Before you read another word, register for Wednesday’s big event here…
Click here to register for the first-ever Tim Sykes NFT Trading Summit
Again, read to the end. After the watchlist I’ll explain my mindset shift on NFTs.
Back to weed stocks. By Thursday, the marijuana news hit the headlines…
Why is this important?
Because penny stock traders know that news like this can be a catalyst for sector momentum.
True to form, the news got the entire weed sector running.
Before you go all-in…
Don’t get too confident that these plays will run big. Weed stocks pulled back on Friday morning.
Why?
Because there are a lot of bag holders from the last big run.
Newbie traders who got burned by promoters last time sell into any big spike, trying to recoup losses.
So does that mean it was a one-day move? Not necessarily. It depends on the news and optimism about the vote.
I won’t try to predict. But I’m prepared if weed stocks do gain momentum.
That’s why the cannabis sector is a must-watch this week in the run-up to a potential vote…
- Tilray Brands Inc. (NASDAQ: TLRY … read my analysis here)
- Medical Marijuana Inc. (OTCPK: MJNA … read my analysis here)
- Sundial Growers Inc. (NASDAQ: SNDL … read my analysis here)
Top Penny Stocks List: March 28, 2022
While this week’s watchlist focuses on weed stocks, it’s not the only sector in play. With bitcoin nearing the $45K level, also watch crypto, metaverse, and NFT plays.
These are the OTCs I’m watching this week…
And here are the listed stocks I’m watching…
3 Penny Stocks to Watch This Week
All eyes are on the weed sector in the run-up to a possible vote on the House floor. Remember, this bill passed the House once but met resistance in the Senate.
The first featured stock this week is one of the cannabis sector leaders and a former supernova. It should always be on watch when weed stocks run…
Tilray Brands Inc. (NASDAQ: TLRY)
Tilray cultivates and sells medical and recreational cannabis in Canada. It sells CBD products in the U.S. The company has plans for U.S. expansion if/when the legalization bill passes.
Key points about TLRY…
- During the last weed run in early 2021, TLRY ran from the $8s to $67 in roughly six weeks. Since then it’s been a long, slow, decline. (For more details, see my breakthrough 7-step framework here.)
- On March 3, the company announced a proposed agreement for a strategic alliance with competitor Hexo Corp. (Watch HEXO this week, too.)
- TLRY spiked 21.8% into Thursday’s close. On Friday it closed up another 22.8%.
Rather than chase, I’m watching TLRY for potential dip buy opportunities.
Medical Marijuana Inc. (OTCPK: MJNA)
California-based Medical Marijuana Inc. develops and distributes hemp oil and CBD products.
Key points about MJNA…
- Like TLRY, MJNA is a former supernova. It spiked 692% in the first two weeks of February 2021.
- On Thursday, it spiked 37% on its highest trading volume since November.
- MJNA gapped up roughly 10% on Friday and closed up 13.7%
I’m watching MJNA for potential dip buys into any big morning panic. The higher it goes first, the better.
Sundial Growers Inc. (NASDAQ: SNDL)
Canada-based Sundial Growers Inc. produces and sells cannabis for the recreational market.
Key points about SNDL…
- SNDL spiked big during the last weed sector run, gaining 718% in the first six weeks of 2021.
- On Thursday it ran 23% on its highest trading volume since November 2021. On Friday it closed up 8.8%.
- SNDL is also a popular Reddit stock with a lot of chatter on the r/WallStreetBets subReddit.
I’m watching SNDL for potential dip buys into any big panics. Like TLRY and MJNA, I refuse to chase.
Monday Motivation: Embrace Opportunity
During the bubble market, I pointed out that my top students didn’t get lucky, they prepared. I must have said, “Luck is when preparation meets opportunity” hundreds of times.
It’s not my phrase. Throughout history, people have said the same thing in different ways. For example, the Roman Stoic philosopher Seneca said it like this over 2,000 years ago…
“Luck is when opportunity meets preparation.”
If you’re reading this, you have access to the internet. And THAT means you have more opportunities than at any other time in history.
The question is…
Are you prepared?
Mindset Mastery
When you seek opportunity, opportunity presents itself. But there are times when it has to smack you in the face to recognize it. And that’s when you have to check your mindset the most.
For example, I used to make fun of NFTs. I ripped on them so much it was crazy.
My first wake-up call was when Matt Monaco banked $53,804 on a Pudgy Penguin NFT. Then sold another for a massive 744% win and $10,
The more I learned about them, and the more students I saw banking, it hit me…
I can’t ignore NFTs anymore.
That’s why, for the past few months, I’ve been researching NFTs like an obsessed younger me. And my team has been working on it with me.
I admit having to make a mindset shift on NFTs. I had to learn the difference between an NFT scam and a legit drop.
Now, I’m super excited to announce my free event on Wednesday, March 30. It’s called the NFT Trading Summit. I’ll be interviewing a student who’s made seven figures trading and minting NFTs. He’s going to explain his three-step process for finding the best NFTs.
And…
I’m giving away a limited supply of NFTs the night of the event.
Click here to join me on Wednesday, March 30th, at 8 pm ET
for the first-ever
NFT Trading Summit
Mindset shift is the most important first step in breaking free of the matrix. Which will it be … the red pill or the blue pill?
Today I’m almost more excited about NFTs than penny stocks. Click above to register and I’ll see you on Wednesday.
Trading Education
This is where your journey begins. If you can change your mindset from making money to learning, there’s hope.
New to penny stocks? Start with my FREE penny stock guide.
Also, get my best-selling book “An American Hedge Fund” here at no cost.
For the basics of my strategies, read “The Complete Penny Stock Course.”
And if you think you have what it takes, maybe the Trading Challenge is for you. Only apply if you’re willing to study hard. It’s not easy, but it’s where all my top students refined their skills.
**Apply for the Trading Challenge Today**
Trading Challenge students also get access to my daily watchlists. All successful traders make their own watchlists. Studying mine (and those of other successful traders) is a good start, but you need to learn…
How to Create Your Own Penny Stocks List
Answers to watchlist FAQs…
How Can You Create Your Own Watchlist?
To start, look for big percent gainers. For two decades, big percent gains have been my #1 criteria. After that, I look at trading volume and a catalyst or reason behind the price action. Read “Stock Watchlist Guide: Tips & Examples to Develop Your Own” for details about the entire process.
Should I Create a Watchlist Every Day?
All serious traders create a daily watchlist. If you’re serious about trading penny stocks, making a daily watchlist is essential.
Does Tim Sykes Provide a NO-COST Watchlist?
Yes. Subscribe to my weekly penny stock watchlists below.
How to Use the Top Penny Stocks List Weekly Update
When you read the weekly penny stock list (and the monthly watchlist), don’t think of them as hot picks. Frankly, sometimes they’ll be duds. That’s why it’s called a watchlist. Welcome to penny stocks.
👉🏼 SUBSCRIBE to my NO-COST weekly stock watchlist here.
It all starts with looking for big percent gainers. Try to figure out why I’ve put the stocks on my list. Study so you can help yourself become a self-sufficient trader. Only fools chase hot picks.
What do you think about this penny stocks list and weekly update? Comment below, I love to hear from all my readers!
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