Is Recon Technology (RCON) stock A Good Buy Near $4?
5:22 pm Tuesday, June 29th, 2021
At this point in time, many investors might not be aware of Recon Technology but there are experts who believe that it is a stock that could be worth looking into at this point. It is a penny stock but at the same time, it is also necessary to note that such low-priced stock can often produce the biggest gains for investors.
That being said, it is also necessary to keep in mind that such stocks are usually known for volatility and it is no different in the case of the Recon Technology (NASDAQ:RCON) stock. Moreover, there are certain things that are worth noting with regard to fundamental analysis. The company already owns many patents and in addition to that, it is also involved in the blockchain space.
As a matter of fact, the Recon stock already experienced an explosive move earlier this year and hence, it could be a good idea for investors to have a relatively short-term plan with regards to any kind of investment. From March 2021 up until the early days of June, the stock went from only $3 a share to as much as $17.50 a share, which was also its highest level in 52 weeks.
The stock collapsed at around the middle of June but the collapse in the price might actually prove to be an opportunity for investors who might be interested in explosive growth. Hence, it could be argued that a small position in the stock might not be the worst idea in the world.
