Retail investors flock to penny stocks WeWork, Amyris, Proterra

Aug 11 - WeWork, a prized startup just four years ago but now a micro-cap, and other penny stocks such as Amyris 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.

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. "Trading turnover from the retail cohort tends to rise as the market experiences larger price swings," Lucas Mantle, analyst at Vanda Research, said.

"The risks are huge although you can argue that the rewards may be so as well," AJ Bell investment director Russ Mould said.

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Video: Inflation, retail earnings to show how consumers are faring in this week’s Advisor LookaheadWe’re set to see if inflation cooled even more in July after falling within the Bank of Canada’s control range in June for the first time since March 2021. The consumer price index is forecast to tick higher. Retail giants Home Depot, Target and Walmart will report Q2 earnings. Globe Advisor assistant editor Rajeshni Naidu-Ghelani outlines what to watch out for in investing and financial news in Advisor Lookahead.
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