{"id":47980,"date":"2023-08-13T19:49:47","date_gmt":"2023-08-13T23:49:47","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/retail-investors-flock-to-penny-stocks-wework-amyris-proterra\/"},"modified":"2023-08-13T19:49:49","modified_gmt":"2023-08-13T23:49:49","slug":"retail-investors-flock-to-penny-stocks-wework-amyris-proterra","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47980","title":{"rendered":"Retail investors flock to penny stocks WeWork, Amyris, Proterra"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<u><\/u><span>2\/2<\/span><\/p>\n<p><span class=\"text\">\u00a9 Reuters. FILE PHOTO: WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS\/Kate Munsch\/File Photo<\/span><br \/>\n<i class=\"imgGrad\"><\/i><br \/>\n<span>2\/2<\/span><u><\/u>\n<\/div>\n<p>By Medha Singh<\/p>\n<p>(Reuters) &#8211; WeWork, a prized startup just four years ago but now a micro-cap, and other penny stocks such as <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Amyris <\/span><\/span> (NASDAQ:) and Proterra are the latest focus of speculative bets from retail traders, with shares of the financially struggling firms rising in strong trading volume after hitting record lows this week.<\/p>\n<p>The three penny stocks, up in the range of 40% to 120%, were the most actively traded U.S. shares at 10:45 a.m. ET on Friday.<\/p>\n<p>Amyris and WeWork were the second and third most traded stocks by retail investors, respectively, while Proterra was twelfth on the list at 10 a.m. ET, according to J.P.Morgan data.<\/p>\n<p>Flexible workspace provider WeWork warned it could go bankrupt this week, a stunning reversal of fortune for a company that was once privately valued at $47 billion.<\/p>\n<p>Biotech firm Amyris said it had filed for bankruptcy on Wednesday and planned to sell its consumer brands to improve liquidity, while electric-vehicle parts supplier Proterra filed for Chapter 11 bankruptcy protection earlier this week.<\/p>\n<p>The gains on Friday come on the heels of Proterra and Amyris shedding over 90% of their value this week. WeWork has shed 17% and was on track for its fourth consecutive weekly decline.<\/p>\n<p>&#8220;Trading turnover from the retail cohort tends to rise as the market experiences larger price swings,&#8221; Lucas Mantle, analyst at Vanda (NASDAQ:) Research, said.<\/p>\n<p>The share moves were similar to those of meme stocks Bed Bath and Beyond and Hertz Global, where retail traders talked up companies on online forums such as Reddit.<\/p>\n<p>Some of the latest speculative bets on the penny stocks were pinned on hopes of a merger and acquisition or a turnaround for the struggling businesses.<\/p>\n<p>&#8220;The risks are huge although you can argue that the rewards may be so as well,&#8221; AJ Bell investment director Russ Mould said.<\/p>\n<p>&#8220;Any firm that is priced for bankruptcy but then avoids such a fate could see a big percentage uplift in valuation, not least owing to the low starting point.&#8221;<\/p>\n<p>Another set of retail traders are looking to capitalize on the volatility, especially by squeezing bearish investors on highly shorted stocks.<\/p>\n<p>&#8220;The allure is simple, massive potential profits in a very short period of time.\u00a0This gets stronger when the markets are strong,&#8221; said Matthew Tuttle, chief investment officer at Tuttle Capital Management.<\/p>\n<p>Last week retail traders had piled into shares of Tupperware (NYSE:) Brands and trucking firm Yellow. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/retail-investors-flock-to-penny-stocks-wework-amyris-proterra-3152768\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2\/2 \u00a9 Reuters. FILE PHOTO: WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. REUTERS\/Kate Munsch\/File Photo 2\/2 By Medha Singh (Reuters) &#8211; WeWork, a prized startup just four years ago but now a micro-cap, and other penny stocks such as Amyris (NASDAQ:) and Proterra are the latest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6537,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-47980","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Retail investors flock to penny stocks WeWork, Amyris, Proterra | iFintechWorld<\/title>\n<meta name=\"description\" content=\"2\/2 \u00a9 Reuters. 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