Rapid global expansion, new revenue, and names like Shaquille O’Neal, Robert Kraft, Mark Cuban & Tony Robbins are already showing the latest market trend has begun to blossom. That’s according to market researcher Newzoo*. Revenues from competitive gaming are set to be just shy of US$1.1 billion by the end of this year. What’s more, some of the pandemic era trends for things like gaming and streaming remain a theme with staying power. It’s also because people are starting to get back into some sense of normalcy. This isn’t just because of things like AMC stock skyrocketing. Today, we’re going to explore an emerging trend in the market thanks to budding interest in the reopening trade. Nio and Tesla slipped but not nearly as much as their penny stock cohorts. Of course, the flip side to this is when the EV trend cooled. While the larger names like Tesla ( NASDAQ: TSLA) and Nio ( NYSE: NIO) were jumping 10-15%, small-cap EV penny stocks were surging 50% to 100%. One example we saw earlier in the year was with electric vehicle stocks. When it comes to industry momentum or even social sentiment, the moves are usually amplified for cheaper stocks. Based on the definition of penny stocks, I’m talking about companies with share prices below $5. Thanks to their lower price, even slight moves in price can equate to large gains. Penny stocks are easily one of the most volatile types of stocks in the market. Post-Pandemic Momentum Could Mean Excitement For Entertainment Penny Stocks
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