3 reasons FRZA can continue 🚀

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What's up my fellow penny stock junkies.

Yesterday Forza X1 closed at $1.69.

Right now it's trading at $2.51 up 49% on news of over $8.5M in potential revenue.

I picked up a swing trade on it today in the $2.30's.

Here's 3 reasons it can continue:

  1. FRZA is a $17.2M nano cap or as small as you can get in terms of market capitalization. Small cap stocks, which start $300M and go up to $2B, are considered a risky place traders dabble to capture aggressive growth. So nano caps ratchet up that risk versus reward even more. Short-term returns in double and triple digits do happen in nano cap stocks.

  2. In addition to being the smallest of companies, FRZA is a low float stock which means it's super volatile. Every trade in a low float stock issue can have a larger impact on the value than it would with a higher float. While there's no definition for how low a float must be to be low, speculative traders tend to gravitate to <10M. FRZA has a float of 3.45M so it's super low.

  3. FRZA recently went public (August) at $5 a share. They are in the electric vehical space which is a favorite for momentum traders right now. Given their tiny market cap and potential bookings of $8.5M in revs, I think it could continue to rally into the weekend before Monday's 2022 Q3. Interestingly it's at 3P ET when the market is still open, which leads me to believe they have something good to share and could spike the stock before the close.

Finally, a quick look at the chart shows shares traded as high as $15, on heavy volume, back in August so I would not be shocked if this move ran between $3-$5.

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(Disclaimer: I own shares of FRZA)

Jason Bond

RagingBull, LLC
62 Calef Hwy. #233, Lee, NH 03861

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