Penny stocks are shares of companies that trade for less than $5 per share. They also tend to represent smaller companies. Their higher risk/higher reward makeup generally makes them a hot topic for retail traders. Any given day might see low-priced shares exploding to the upside to the tune of hundreds of percentage points. The bottom line is if you’re looking to buy stocks like these, be ready for volatility.
That type of stock market environment also includes other contributing factors. These may amplify the wild activity in the market. In this article, we look at one of the phenomena that can quickly speed up price spikes and drops for penny stocks: short squeezes.
What is a short squeeze in the first place? A short squeeze is a situation where investors bet that a stock’s price will fall (by “short selling” the stock). If they’re right in their “bet,” they’ll make money when stocks go down. When shorting a stock, they borrow shares from their broker, sell them, and when the stock price falls, they repurchase the same quantity of stock and return it to their broker.
But if they’re wrong, they could be in for a rude awakening.
A short squeeze will force them to buy shares at a higher price to limit their losses. This buying activity can cause the stock’s price to rise further, creating a “squeeze” on the short sellers. Short squeezes can be triggered by various factors, such as positive news, a change in market sentiment, or a lack of shares available to be borrowed for short selling. The first place to look for short-squeeze stocks is short interest.
Short Data: Fintel — 33.45%, TDAmeritrade — 33.34%
Chances are you’ve been to or driven by a Rite Aid at some point in your life. But you might not know that, as of now, it’s trading as a penny stock. The company ran into trouble late last year thanks to bad earnings and a bearish outlook on 2023 performance figures. RAD stock has rebounded a bit toward the end of January, and short interest may be a focus.
Both data sources cited above have the RAD stock short float percentage sitting around 34%. The company recently named an interim CEO, Elizabeth Burr, and simultaneously began a search for a permanent one. In response, Burr said in a January 9th PR, “Having served as a Director since 2019, I have great respect for the important role Rite Aid plays as a full-service pharmacy improving health outcomes for millions of Americans…With Rite Aid’s well-established brand and its committed and talented team, I look forward to delivering on our business strategy and driving value for all our stakeholders.”
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Short Data: Fintel — 28.57%, TDAmeritrade — 15.68%
As you can see, the short float data on Sana Biotechnology is a bit skewed right now. Fintel shows it closer to 30%, while TDAmeritrade has it sitting below 16%. Regardless, the company continues making announcements, and the share price has increased over the last month.
Sana develops engineered cells to use as medicines. This week, in particular, the company has gained a bit more attention thanks to one of its first significant pieces of news in 2023. Sana announced that the FDA cleared its Investigational New Drug application to begin a first-in-human study of its SC291 platform. This is Sana’s treatment candidate for patients with B-cell malignancies.
Steve Harr, Sana’s President, and CEO, also mentioned in a press release, “We look forward to understanding the safety, potency, and persistence of these cells in patients, and we are optimistic that SC291 can become an important medicine for patients with these difficult cancers. Furthermore, this platform forms the backbone for additional development of CAR T cells targeting CD22, BCMA, and beyond.”
The company expects initial clinical data from the SC291 study later this year.
Short Data: Fintel — 25%, TDAmeritrade — 19.22%
Shares of EV company Canoo Inc. are on the list of penny stocks with higher short interest this week. Fintel and TD show the data sitting between 19% and 25% as GOEV stock struggles to hold levels at the 50-day moving average.
While most of January has been uneventful for the stock, the last week has been much different. Canoo has reported several key updates heading into month-end. Canoo inked a partnership with GCC Olayan to exclusively distribute its EVs in Saudi Arabia. The company also appointed a Chief Financial Officer, Ken Manget.
Regarding the Saudi Arabia distribution partnership, Canoo emphasized the deal’s potential in a PR earlier this week.
“The Olayan Group is a global business leader with decades of experience in distribution partnerships with some of the world’s leading brands, and they are a proven partner to support EVs in the region,” said Tony Aquila, Chairman & CEO at Canoo.
It may be worth noting that Saudi Arabia’s Vision 2030 set a course for EV adoption and sustainable mobility solutions to be put in place. Further, the Saudi Green Initiative has set a goal of 2060 to reach net zero emissions.
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Short Data: Fintel — 34.86%, TDAmeritrade — 30.21%
Shares of Gossamer Bio could be in focus for some after seeing the latest short data. It currently sits in the low 30% range as the company’s shares wade water in the stock market this year. No significant headlines have been released to date.
Last year, Gossamer announced Phase 2 trial data in its study of seralutinib for treating pulmonary arterial hypertension. Among several points of focus was a serious adverse event in the seralutinib arm of the study. Overall treatment-emergent adverse events were reported in 86% and 93% of patients in the placebo and seralutinib arms.
Even with that as the case, there was optimism regarding efficacy results. Pulmonary Hypertension Division head at the University Hospital in Giessen explained, “highlit compelling potential differentiation for seralutinib as an anti-proliferative, anti-inflammatory, and anti-fibrotic therapeutic candidate with possible reverse remodeling effects.”
Earlier this month, State Street Corporation and Millennium Management filed Schedule 13Gs showing stakes in GOSS stock ranging from 5.1% to 29.47% (State Street). While those reports have been out for weeks, it may be something traders are paying attention to if GOSS is on their list of penny stocks to watch.
Rite Aid Corp. (NYSE: $RAD )
Sana Biotechnology Inc. (NASDAQ: $SANA )
Canoo Inc (NASDA: $GOEV )
Gossamer Bio Inc (NASDAQ: $GOSS )
Penny stocks are shares of companies that trade for under $5. While that may be the standard definition, it isn’t the only one if you ask retail traders. In the stock market today, most day traders will look at some of the cheapest of the bunch, the ones that can be bought for pennies on the dollar. In this article, we look at a few more of these low-priced stocks to see what traders are looking at and what may be on the horizon that could be a source of speculation.Click Here To Watch TTG Live On YouTube
Why would anyone want to buy such risky stocks? The simple answer is to capitalize on volatility. When you talk about penny stocks under $1, you’re talking about stocks capable of jumping significant percentages without seeing overall prices climb aggressively.
Case in point, any stocks under $1 need to move 10 cents or less to experience a 10% move or more. The same can’t be said for stocks like Apple or NVIDIA. Take, for instance, Akanda Corp. (NASDAQ: $AKAN ) on Thursday. The medical cannabis company saw its stock explode over 150% from just a 30-cent price increase. There weren’t any company-specific updates. However, FDA-related headlines regarding exploring regulatory pathways for CBD products prompted speculation about cheap marijuana stocks.
Of course, these big moves can happen quickly in either direction, which is why there’s so much risk involved in cheap stocks like these. It’s up to you to decide if the risk is worth the reward. This is an update on the list of penny stocks from our article Best Penny Stocks To Buy? 4 Under $1 To Watch In January 2023.
Last month we discussed Avaya Holdings on a list of penny stocks with high short interest as traders were hunting for the next big breakout company. AVYA stock didn’t experience an explosively aggressive move like AMC or GME stock. However, since that update, it has maintained a strong rebound. In fact, between then and now, the penny stock has climbed from around $0.15 to highs of over $0.40. That trend continues this week as shares tick higher.
One of the sources of speculation for Avaya is its financial positioning. A few weeks before the end of 2022, Avaya disclosed business information that “it confidentially shared” with specific stakeholders. Right now, a comprehensive resolution is ongoing to potentially strengthen the company’s balance sheet and business overall.
In a December update, Alan Masarek, Avaya’s Chief Executive Officer, said, “We are pleased to remain engaged in constructive discussions with all of our financial stakeholders to enhance our capital structure, increase liquidity and accelerate our investment in innovative products and solutions.”
Avaya was granted earlier this month titled “Sentiment Analysis (Emotion Artificial Intelligence) of Message Posting In Group Conversations,” which helped boost sentiment. The company also announced it was named a “Leader” in a report titled The Aragon Research Globe™ for Conversational AI in the Intelligent Contact Center (ICC) 2023 by Aragon Research, Inc.
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Penny stocks and the underlying companies carry plenty of risks. One of these can be a failure of the business overall. While Avaya hasn’t sounded the alarm that it’s “failing,” reports from Bloomberg have cited that Avaya may have been in talks with first-lien lenders for a $450 million loan that would fund operations during a potential bankruptcy filing. Of course, Bloomberg cited “people with knowledge of the matter.”
This week, we also see that a new 13G was filed, showing BlackRock, Inc. has an 8.8% stake in the penny stock.
Electric vehicle technology company Cenntro has focused on developing a portfolio of commercial electric vehicles. Late last year, its Class 4 Logistar 400 received a US Environmental Protection Agency Certificate of Conformity. This confirmed the Logistar 400 conformed to the EPA’s regulations and emission standards.
Whether for last-mile delivery or municipal services, the Logistar 400 was designed to carry a max payload of over 7,400 pounds with an 84-mile range. Earlier this month, Cenntro’s portfolio was showcased at the Consumer Electronics Show in Las Vegas. Its lineup included a hydrogen fuel cell vehicle (LM864H), a Class 3 Van (Logistar 300), and its iChassis line of three programmable vehicles used for automated and autonomous driving.
There haven’t been any recent headlines from the company since its CES event. However, industry sentiment could promote some bullishness in the stock market this year. Thanks to the rallies in top EV stocks like Tesla (NASDAQ: $TSLA ), the industry is getting some long-awaited attention. Year-to-date, CENN stock has climbed from $0.44 to over $0.61 or roughly 38%.
Last month Asensus fell to new 52-week lows after having slowly bled out during November and most of December. However, news right before the New Year helped promote some bullishness around the company and, in turn, its stock. Asensus initiated a Senhance program at the Kashiwa Kosei General Hospital of Japan.
– 4 Penny Stocks To Buy According To Analysts & Targets Over 600%
The company has explained that its Senhance platform in Japan is intended to “assist in the accurate control of laparoscopic instruments for visualization and endoscopic manipulation of tissue including grasping, cutting, blunt and sharp dissection, approximation, ligation, electrosurgery, suturing, mobilization, and retraction in laparoscopic surgery.”
ASXC stock has exploded in 2023 compared to the end of 2022. With news-fueled momentum, it will be interesting to see what follow-through comes (if any) after headlines have had time to get digested.
HC Wainwright recently reiterated coverage on ASXC stock with a Buy rating. It also maintains a $3 price target. Based on current levels of around $0.70, the ASXC stock forecast price is 328% higher.
Avaya Holdings Corp. (NYSE: $AVYA )
Cenntro Electric Group Ltd. (NASDAQ: $CENN )
Asensus Surgical Inc. (NYSEAMERICAN: $ASXC )
PolyPid Ltd. (NASDAQ: $PYPD )
Troika Media Group (NASDAQ: $TRKA )
Novo Integrated Sciences (NASDAQ: $NVOS )
Lightning eMotors (NYSE: $ZEV )
Are you looking for the best penny stocks to buy right now? If you answered yes, then you’re not alone. Each day, thousands of traders hunt for the next big breakout stock to buy with varying degrees of success. But what goes into finding top penny stocks daily? In most cases, a watch list is the first place to begin, which generally entails finding market trends.
Today, we look at several penny stocks with higher short interest. In some traders’ eyes, the significance is that a higher short could mean the higher potential for a short squeeze. It’s never a guarantee that this is the case, but it’s an excellent place to start if this is the trend you’re following.
Shares of 22nd Century have been in rally mode for the better part of the last week. The company highlighted the FDA’s actions in banning menthol in ‘nicotine laden combustible” cigarettes in February. The rules are anticipated for publication in April. This is important for 22nd Century based on its core product suite playing on reduced nicotine in its VLN Menthol King. According to the company, this is the only menthol cigarette that “helps you smoke less” and is seen as an “off-ramp” for the current menthol product landscape.
At the end of 2021, the FDA authorized 22nd Century’s VLN reduced nicotine cigarette products. In an MRTP authorization press release, the FDA stated, “In reaching today’s determination, the FDA considered both the current legal status of menthol cigarettes and the available science demonstrating that these particular products could help addicted cigarette smokers reduce their nicotine consumption and the number of cigarettes they smoke per day.” (See: FDA Authorizes Marketing of Tobacco Products that Help Reduce Exposure to and Consumption of Nicotine for Smokers Who Use Them)
Furthermore, the company announced this week that it had secured an organic certification from the US Department of Agriculture for its hemp production at Needle Rock Farms. According to the company, USDA Organic Certification will allow it to obtain premium prices and margins for its hemp biomass.
As far as short interest goes, Fintel.IO data as of today has the short float percentage for XXII stock at 9.11%
Another one of the short interest stocks right now is Aridis Pharmaceuticals. The company specializes in developing therapeutics based on inhaled delivery methods. In particular, its liquid formulation technology is being utilized in advancing its platform to deliver monoclonal antibodies to protect against SARS-CoV2 and influenza.
Earlier this year, the Bill & Melinda Gates Foundation awarded Aridis a grant earlier this year. Fundas will be directed toward evaluating this application in low and middle-income countries. “The combination of dose sparing achieved by inhaled delivery and algae sourced mAbs has the potential to dramatically reduce the cost of antiviral treatment and expand the access of mAbs worldwide,” said Truong.
Following this update, analysts at firms like HC Wainwright took a bullish stance on the company. The firm reiterated its Buy rating at the end of January. It also put a $19 target on ARDS stock. Where does it stand in the mix of short squeeze stocks? Right now, the short float percentage on ARDS stock sits around 29%.
Joby has been one of the companies we’ve discussed throughout the week. The company has gained attention from those on the hunt for “cutting edge” style companies. That’s because it’s making a play at “future tech” and aerial ride-hailing services. Its flagship 5-seat aircraft can take off and land vertically with a 150-mile range and top speeds of 200 mph. Users can access the service via the Joby app or even the Uber app in core U.S. markets.
One of the unique things about this is that it has a high-profile investment fund manager holding a position in the company. Yes, this is one of the Cathie Wood penny stocks held in her ARK Space Exploration & Innovation ETF (NYSE: $ARKX). JOBY only makes up 1.21% of the ETF, equating to a position of just over 1 million shares. So it isn’t a massive position. But that is something worth noting if JOBY stock is on your list right now.
Where does it sit among short squeeze stocks? Right now, Fintel data shows the short float percentage sitting around 9.7%.
Aurora Cannabis is one of the “OGs” of the cannabis world. It has gone through numerous industry cycles, with the latest taking it to some of the lowest trading levels in years. In fact, a few weeks ago, shares of ACB stock hit fresh 52-week lows of $3.71, leading up to this week’s earnings results.
To the surprise of the market, Aurora was able to regain some composure in its second fiscal quarter of 2022. Following the closing bell on February 10th, the company reported improved EBITDA versus Q1 2022, including $60.6 million in net revenue.
“Q2 total cannabis net revenue held steady sequentially, driven by our industry leading, high margin global medical cannabis business. New international markets are rapidly opening, and with the unique ability to navigate complex regulatory environments, we see a significant revenue opportunity of which we are at the forefront. While the Canadian adult-use market continues to face challenges, we are focused on introducing a new range of products set to launch this spring." - Miguel Martin, Chief Executive Officer of Aurora.
The biggest question now is will the market react favorably to these results in light of the broader cannabis industry trend? Most stocks have gotten beaten down thanks to uncertainty regarding the political climate and legislative landscape for the industry right now. In addition, it could also be interesting to see if it attracts anyone watching out for short interest stocks. As of today, Fintel.IO data shows the ACB short float percentage sitting around 11.4%.
Now that we’ve gone over some of the penny stocks with higher short interest, what exactly is a short squeeze? If you’re new to trading or shorting, you might not know what’s generally involved. So first, what is shorting, and how do you short a stock? Assuming there are shares to borrow when someone wants to short a stock, they will borrow a certain amount of shares from a broker.
The next step is selling these borrowed shares to the open market. Then, if they’re correct in their trading plan, a stock will drop, at which point they’ll repurchase the shares they originally sold at a lower price. The final step for that trader to take is returning the borrowed shares to the broker and pocketing the difference in sell and repurchase price. Ultimately, you need to return borrowed shares if you’re shorting, and the price per share doesn’t matter.
A short squeeze begins with a short but ends with traders repurchasing shares at higher prices. When stocks squeeze, share prices rise instead of fall. Anyone shorting the stock loses money, the higher the price goes. Since there is already an underlying bullish tone in the stock, short covering (buying shares to cover the ones that were borrowed) occurs and adds to an already high level of buying momentum.
This is where you might see very aggressive and speedy runs up in specific stocks. AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) were some of the most famous examples of what happens when short squeezes are triggered.
Whether you’re building a watch list of penny stocks to buy or simply dabbling in new trends, keep your risk profile in mind. When it comes to squeezes, the moves can happen within the blink of an eye and end just as quickly. So if you’re building a strategy for short squeeze stocks, make sure you’ve got a handle on how to trade volatile stocks.
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If you’re making a penny stocks watchlist right now, there is a lot to consider. Because penny stocks are so reactive, investors need to fully understand how they move and how to take advantage.
First and foremost, traders need to know what events are impacting the stock market right now. This includes inflation, interest rates, geopolitical tensions in regard to Ukraine, and the pandemic at large. All of these have combined to make the stock market extremely volatile. Now, when it comes to penny stocks, volatility is often a desired factor. This is because it allows investors to make money in the upswing and downtrends.
That strategy is known as swing trading, and tends to be the most popular way to trade penny stocks. In addition to the above information, investors need to know their own tolerance for risk. This means knowing whether you are more or less inclined to invest in riskier penny stocks.
While all small-caps are risky to some extent, some are more so than others. And knowing the difference will help you to achieve your investing goals. So, as we continue to barrel further into 2022, there is a lot to keep in mind. But, with all of this considered, making money with penny stocks can be much easier than previously imagined.
For the last week, we’ve taken a closer look at certain biotechnology companies and Senseonics remains a constant on the watch list. If you’re new to the company, let’s get you up to speed. Senseonics is developing and advancing its Eversense glucose monitoring platform. It’s designed to monitor glucose levels via sensors, then send data to patients via mobile application.
Right now there are a few things to watch with Senseonics. First, earlier this year the company reiterated its 2021 earnings guidance. It expects net revenue to come in a range between $12 million and $15 million. While the market awaits the formal numbers, there is another potential catalyst to keep in mind.
That is related to a Food & Drug Administration decision. Senseonics has explained the FDA review phase for its 180-day continuous glucose monitoring system in the U.S. According to the company, all questions have been answered, and “a decision regarding approval” is expected “soon,” says Senseonics.
“We understand that the FDA is at full capacity managing the backlog of COVID-19 related filings creating longer than expected review timelines. We are confident a decision regarding approval of the 180-day system will be made in the coming weeks as the FDA continues to clear out the backlog,” said Tim Goodnow, President, and CEO, in a January 4th update.
With the countdown in progress for earnings and an FDA decision, SENS stock could be one to watch heading into this week.
Thanks to the recent stock market sell-off, there are plenty of household names trading below $5. These “household stocks” range from popular retailers like Party City to fashion companies like Express. Whether or not the beaten-down prices make these “undervalued” is yet to be seen as we head into earnings season.
Express, in particular, has continued deploying its growth strategy. Blending digital and physical retail sales, Express is working to come out of the pandemic anew. There’s still a longer road to travel especially after the company’s last few earnings reports. Express has come up short of expectations. However, heading into the first quarter of the year, the market has started paying attention, keeping CEO Tim Baxter’s December comments in mind:
“Our results provide tangible evidence that the versatility, quality, and value of our product is resonating with consumers. I am confident that we will continue to deliver positive comparable sales and gross margin expansion versus 2019 in the fourth quarter.”
The next round of Q4 and full-year financials from Express will give the market a better idea of what to expect in early 2022.
Palisade Bio Inc. is a penny stock that has seen 90% in losses in the past year. Despite this, shares of PALI stock have begun to trend upward in the past few days. If you’re not familiar, Palisade Bio is a clinical-stage biopharmaceutical company working on therapies to help those with different gastrointestinal issues.
The company has several products that are currently in the pipeline including its lead asset, LB1148. On December 8th, the company was granted a new patent covering its protease inhibitor, LB1148, as mentioned above.
“This new patent adds to Palisade Bio’s growing intellectual property (IP) estate for LB1148 and continues to support our clinical studies of LB1148 in surgery patients. It specifically covers the use of LB1148 for the lead indications for which we plan to seek approval.
This additional IP protection for LB1148 is a major milestone as we advance our clinical pipeline and provide further data from our study of LB1148 for GI surgery patients.”
The CEO of Palisade Bio, Tom Hallam, Ph.D.
All of this is exciting news although it’s important to consider that PALI stock is highly volatile. But, if this fits your risk profile, then PALI could be worth adding to your list of penny stocks to watch.
Vinco Ventures is a penny stock that we have covered numerous times in the past few months. Aside from its business model, BBIG stock is often mentioned as a trending Reddit penny stock. In the past few trading days, shares of BBIG have increased by around 10.5%. This is quite a significant gain and shows that there is sizable bullish sentiment surrounding BBIG stock right now. In the past few days when we’ve covered BBIG, we’ve noted the reasons why investors are interested. One of the main focuses for investors is Vinco’s role in the Metaverse.
It has done this through its latest spinoff blockchain tech company known as Cryptyde. The company has the goal of taking Cryptyde public with the ticker symbol TYDE. This is a big deal, and one of the aspects of BBIG that investors are highly focused on. Aside from this, the company also is working on growing Lomotif. This is a platform that aims to compete with TikTok, in the video-sharing space. All of these prospects are positive and continue to show why investors are watching BBIG stock.
However, it is worth noting that it is highly volatile. Because it is the subject of major speculation, it is not uncommon to see shares of BBIG stock fluctuate in the double-digit percentage points in a given trading day. Considering this, will BBIG be on your penny stocks watchlist moving forward?
Another penny stock that we have been covering extensively over the past year or so is Farmmi Inc. While FAMI stock has seen multiple major gains and losses during that time, it has remained highly popular. Now, in the past six months, shares of FAMI stock have dropped by over 50%.
This is the result of Covid affecting its market as well as other issues. But, in the past few months, the company has seen sizable growth in its export market. It has in that time, signed multiple contracts with both new and returning customers for its products. If you’re not familiar, Farmmi Inc. is a provider of edible fungi products such as Shiitake mushrooms and Mu Er mushrooms.
While its performance throughout 2021 was nothing to write home about, investors are excited about the future of the company. Keep in mind that FAMI is also subject to a sizable amount of volatility due to its trending nature. But, if that is something you’re comfortable with, FAMI stock could be worth watching for you.
With a solid understanding of the current market trajectory, knowing how and where to find penny stocks to buy is crucial. If we consider just how challenging of a time it is to invest in penny stocks, we can see that there is a lot to know. But, with a proper trading strategy, making money with penny stocks can be much easier than previously imagined.
So, always consider what is going on in the stock market and think outside of the box to take advantage. Also keep in mind that penny stocks will likely remain volatile in the near future. With all of the events going on as mentioned, we should continue to see market fluctuations over the next few months. So, with all of that in mind, which penny stocks are you watching right now?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!
Are penny stocks something that excites you? Are you trying to find ways to make money in the stock market today? If you said yes to either or both, continue reading.
One of the most important topics of discussion since the 2020 pandemic has been social sentiment. Millions of new retail traders are trying their hand at trading and investing. This has led to very different conditions in the stock market compared to what was there previously. Even for blue-chip stocks, price movements seem to be much faster or larger.
Meanwhile, the attention that penny stocks have received has been amplified. Thanks to the rise in popularity (and share price) of companies like AMC Entertainment (NYSE: $AMC) and GameStop (NYSE: $GME), “mom and pop” investors seem to have realized that “this trading thing” isn’t as hard as they thought.
Thanks to this, social media platforms like Reddit, Twitter, StockTwits, Facebook, and even TikTok are becoming the “investor round table” for the new generation of retail traders. As such, many are looking for “the social buzz” to stay ahead of any potential volatility spike. Today, we look at a few hot penny stocks on Reddit, Twitter, and other social platforms that have gained interest and momentum in the stock market today.
Biotech stocks have been volatile lately. None have been more volatile than companies developing new treatment platforms. In this case, MindMed is advancing its pipeline of treatments utilizing psychedelics to treat brain-based disorders.
Despite the pullback earlier this year, MNMD stock has been on the move over the last several weeks. This was thanks, in part, to FDA-related headlines toward the end of January. The FDA cleared MindMed for an Investigational New Drug application related to its MM-120 platform. This is its drug candidate for treating generalized anxiety disorder and can now proceed into a Phase 2b dose-optimization trial.
What’s important about this trial that investors are following? According to MindMed, the company is working with study investigators and clinical trial sites in preparation for enrollment. This is expected to begin in “early” 2022. Considering that we’re in mid-Q1, timing has become a factor.
MindMed CEO Robert Barrow explained that “the results of this trial will guide the dose selection and development strategy for our pivotal Phase 3 clinical trials, as well as deepen our scientific understanding of the clinical effects of MM-120 and its underlying mechanisms of action.”
This news also came shortly after the company completed enrollment of the first patients in a study of its Session Monitoring System used for treating psychiatric disorders. What’s more, MindMed explained that the FDA’s Center for Devices, Radiological Health, and enter for Drug Evaluation and Research gave positive feedback to support a planned development strategy for the platform. Specifically, the system, SMS-01, evaluates the passive collection of sensory data during consciousness-altering therapeutic sessions.
Sticking with the biotechnology topic, Biofrontera has yet to leave the limelight of social media discussion. This is based on the considerable spike BFRI stock made last quarter. Shares surged from under $3 to over $14 within a matter of weeks, thanks to significant developments that were announced.
Specifically, Biofrontera reported that it would report earnings soon. It also was timed with a bullish rating from Roth Capital analysts, who gave a $20 price target. This came just a few weeks after Biofrontera announced the launch of its clinical study program aimed at optimizing and expanding its market position for its Ameluz treatment. It’s Biofrontera’s in-licensed FDA-approved prescription for photodynamic therapy in the US.
Fast-forward to this month, and BFRI stock is back on the move, thanks to new headlines. The company provided an update on its patient recruitment efforts for a Phase 3 study of Ameluz in treating superficial basal cell carcinoma, in combination with its BF-RhodoLED lamp.
“Following successful FDA approval, Ameluz® would be the only drug in the United States approved for the treatment of superficial BCC with PDT, which we expect to further increase the growth potential of our flagship product Ameluz® in the medium term,” said CEO Erica Monaco.
Patient enrollment in this trial has been ongoing since 2018 and is expected to come to completion by the end of this year. The study will include 12 sites and over 180 patients. It also helps that Biofrontera was also recently granted a US Patent: “Illumination device for photodynamic therapy, method for treating skin disease and method for operating an illumination device,” to etch its corner of the market further.
Cryptocurrencies have been on a wild, rollercoaster ride over the last few weeks. The price of Bitcoin has flip-flopped between $35,000 and $40,000 as the market has jostled on the whole. The latest move in the leading cryptocurrency has taken it back to the $40,000 mark for the first time since January 20. With that, upbeat sentiment has come back into the market and taken certain cryptocurrency stocks along for the ride.
Hive Blockchain specializes in cryptocurrency mining. You can imagine the volatility that has been in the market recently. In line with Bitcoin’s latest move, HIVE shares have popped again. The growing concern over cryptocurrency mining’s environmental impact has sparked controversy among investors regarding related stocks. In Hive’s case, it has taken a direct approach to address these focusing on green energy and ESG (Environmental, Social, Governance) initiatives.
Late last year, Hive announced a strategic investment into Titan.IO, which established Lumerin, a decentralized mining marketplace. Other notable investors in Titan include Coinbase (NASDAQ: $COIN). The company offers software to help Bitcoin miners boost efficiency and scalability at lower costs. In addition, Lumerin allows peer-to-peer trading opportunities for hashpower, which is vital to crypto mining.
Hive has continued taking an investment approach to scaling its platform. Prior investments include a seed round in Titan and positions in DeFi Technologies and Network Media Group. The thing to remember when looking at any stocks tied tightly to a sector like cryptocurrency is that volatility in the underlying assets (I.E., Bitcoin) can dramatically impact the crypto market overall.
Like HIVE stock, Bit Digital has also taken off thanks to a surge of bullishness in cryptocurrency prices. The digital mining company has also taken a proactive stance on the environmental impact of cryptocurrency mining activities. In particular, Bit Digital is actively engaging with lawmakers and industry figureheads.
Most recently, Bit Digital reiterated its environmental track record and plans on submitting a formal testimony to the New York State Senate Standing Committees on Environmental Conservation, Energy and Telecommunications, and Internet and Technology.
“Our company has made it a point to take a leadership position regarding sustainable practices in the crypto mining industry,” said Bryan Bullett, Chief Executive Officer, Bit Digital in a January update.
“It is at the core of what we do and who we are, because Bit Digital understands that to be successful, our operations must drive innovation and economic opportunity for all members of society—while doing so in a sustainable and eco-friendly manner.”
With crypto prices on the move, BTBT stock has become one of the top names to watch among social media circles right now.
Other than crypto and biotech, energy stocks have been on fire recently. Indonesia Energy, in particular, has become one of the more volatile names in the stock market today. The oil and gas exploration company has focused its efforts in, you guessed it, Indonesia. Following a recent financing round of $7 million, INDO stock has experienced several sessions of volatility spikes and price action that took it as high as $9.21.
Based on its financing update, the use of proceeds have come into focus. The company plans on deploying funds to enhance its oil well drilling program, among other things. This comes after having reported a substantial production rate increase late last year.
Indonesia reported a 50% jump in rate following a recently compiled “Kruh 26” well at its Kruh Block project. Average production was recorded at roughly 245 barrels of oil per day. With the Kruh 26 well, the company expects to increase this figure.
With plans for drilling two back-to-back producing wells at the Kruh Block, production targets have been set at approximately 450 barrels of oil per day after the two wells are complete. As far as the timeline for this goes, Indonesia Energy said that Q3 of this year is likely when drilling will begin.
Arming yourself with a proper strategy and watch list outline can quickly help you identify potential penny stocks to buy. With so much noise on social media, it’s also essential to understand how to conduct proper research beyond seeing what people tweet about. Social sentiment can give a great heartbeat on what retail focuses on, but there’s no substitute for your own due diligence. So whether or not these are the “top penny stocks to buy” right now will heavily depend on your personal trading style and investment approach.
Traders love penny stocks, especially if they’re making big moves. In the stock market today, there are plenty to choose from. Having a keen eye for opportunity, understanding how to read charts, and knowing how to trade volatile stocks come in handy. But the first step for many is finding out why certain penny stocks are moving in the first place.
What has caused such a breakout? Is there news to read or filings to reference, or is this simply a market or speculation-driven move? We’ve seen plenty of trends that trigger penny stock breakouts that don’t involve news catalysts. Short squeeze stocks (stocks with high short interest), low float penny stocks, and even sympathy sentiment can make an impact.
Earlier today, we discussed BON stock in our article: Why BON Stock Exploded Overnight. That was a clear example of a news catalyst sending a penny stock into the stratosphere overnight. The recent IPO of Maris-Tech Ltd. (NASDAQ: MTEK) has put yet another penny stock on the watch list of traders. But why is MTEK stock on the move right now?
Maris-Tech provides video transmission technology to businesses. It focuses on offering its solutions to the defense and Homeland Security sectors. In particular, its platform is designed to integrate with land, sea, and aerospace applications for gathering intelligence in various settings.
Markets and applications range from unmanned vehicles and drones to commercial applications in video processing.
In looking at some of the registration statements leading up to its IPO, Maris-Tech recorded over $1.3 million in revenue for the first six months of 2021. This was up more than 100% compared to the prior year’s period. It also reported a net loss per share during H1 2021 of 2 cents. This was also better than the prior year’s period, where it posted a 9-cent loss per share. More details on its financials can be seen in the image below:
As highlighted in its corporate deck filed on January 20, Maris aims at becoming a “Top 5” global video analysis company. Select customers include Aero Sol, Mobilicom, FlyAbility, Elbit Systems, and MeproLight, among others.
Something else that might be of interest is members of the board of directors. All have decades of experience in various capacities. However, one in particular, Naama Avrahami, a Board Nominee, lists experience with “Security Token Offering and Blockchain Technologies” on her bio. While no cryptocurrency or metaverse keywords were listed in its corporate presentation, this seemed like a stand-out considering the recent hype stemming from the DeFi movement.
It may also be worth noting the company’s Jupiter Platform. In particular, Jupiter AI is designed for “situational awareness” applications. According to its “Technological Roadmap,” Jupiter AI development is paired with “AI Edge Computing” through 2023.
The biggest news for MTEK stock is the IPO. Specifically, traders are circulating information about the size of the MTEK initial public offering. The company raised $15.5 million by selling only 3.7 million shares. As discussed above, stocks can move without direct news catalysts and often have something to do with other technical factors.
Considering the current float from the IPO is below 5 million, this has put MTEK stock on the radar of traders hunting for low float penny stocks. Meanwhile, the formal closing date of the offering is expected tomorrow (Feb. 4), putting a timeline in place for another “event” for the market to observe.
According to SEC filings, Maris plans on using most of the proceeds from the offering for R&D and marketing & sales for new territories. Furthermore, those marketing efforts will have an “emphasis on the U.S. market,” according to the company’s most recent F-1/A posted last month.
Regardless, since the official IPO, MTEK stock hasn’t managed to reclaim its actual IPO levels. The company went public by offering shares at $4.20 apiece. Since opening for trade, MTEK has traded in a range of $2.71 and $3.83 as of this article.
Want to find the best penny stocks to buy right now? I bet you’ve got a strategy in mind. Are you hunting for chart set-ups or searching for unusual volume? Maybe you’ve got a price range in mind, like penny stocks under $1.
On the other hand, you might be looking for companies releasing news before the stock market opens at 9:30 AM ET. Today, we look at a different trend called “follow the money,” which specific traders use to identify insider sentiment. Let me explain.
The same general sentiment is observed, whether we’re talking about the latest round of stocks that Nancy Pelosi is buying, or company insiders are scooping up. When insiders or “important people” get behind a company through investing in it, the market can take this as a sign. The idea of “follow the money” means to follow the inflows and outflows of big buyers and insiders. Today we look at a handful of penny stocks to buy according to this cohort of investors.
One of the health-focused companies on this list with insider buying is Oncternal Therapeutics. The clinical-stage biopharmaceutical company is developing oncology therapies and advancing its current candidate, zilovertamab, in treating mantle cell lymphoma.
Earlier this month, Oncternal announced that it reached a consensus with the FDA on designing a Phase 3 trial ZILO-301 for MCL treatment using zilovertamab plus ibrutinib (branded by Abbvie/Janssen as ImbruvicaR. This “Study ZILO-301” is expected to begin next quarter.
This week a slew of Form 4s were filed showing insider buying from Oncternal’s General Counsel, CFO, CEO, and Chief Medical Officer. More than 60,000 shares were purchased at average prices ranging between $1.63 and $1.80.
SPACs or Special Purpose Acquisition Companies have gotten a bad rap since the trend emerged during the 2020 pandemic. Effectively the same as what we’ve seen for years in the OTC market, a private company gets acquired by an already public company. In this case, the SPAC goes public with the sole plan of acquiring another company. Also known as a “blank check” stock, these SPACs have a shelf-life before they have to revise their strategy or face unraveling.
Last year, P3 Health Partners went public via a SPAC transaction with Foresight Acquisition Corp. (formerly FORE). But like many of these types of transactions, the retail market saw a substantial decline from highs of $16.73 at the time of the acquisition to lows this month of $4.62. Nevertheless, the market continues watching P3’s emergence as a player in the population health management industry.
Earlier this month, William Blair initiated coverage on the penny stock. The firm started with an Outperform rating as P3 expanded into the California market with the acquisition of Medcore HP and Omni IPA Medical Group.
Michael Balkin, a 10% owner and manager of Foresight Sponsor Group, purchased 15,000 shares this week. According to footnotes in a recent Form 4, “These 15,000 Shares (as defined below) were acquired in a single transaction through a self-directed individual retirement account of Mr. Balkin.”
While it hasn’t traded very actively this year, Pixelworks was a big focus point for traders last summer. PXLW stock surged from under $3 to highs of $7.90, thanks to a surge in visualization-tech stocks. The company provides content creation and video delivery solutions for enhancing visual quality on different screen types.
The latest slump in the market has impacted broader tech, with Pixelworks feeling some pressure in January. However, heading into the new month, there’s some refreshed interest in the stock. This comes after analysts at Colliers Securities upgraded PXLW stock to a Buy and set a $5 price target. It also came in tandem with news that the company would release full 2021 results next week. According to preliminary guidance, Pixelworks expects Q4 revenue between $16 million and $17 million.
“The fourth quarter is shaping up to be another solid quarter, further extending our sequential and year-over-year revenue growth,” commented Todd DeBonis, President and CEO of Pixelworks. “Moreover, we are entering the new year with increasing momentum and expanded engagements with tier-one mobile OEMs, which we expect to drive better than seasonal results for the first quarter of 2022.”
This week, CFO Haley Green reported purchasing 2,794 shares of PXLW stock. The average purchase price was $2.5585 and brought the total holdings for Green to 190,351.
Fintech has become a popular buzzword in the stock market today. Whether it’s discussing the latest decentralized “DeFi” finance, cryptocurrency, NFT, etc., or traditional financial technology, investors are taking notice of the trend. Performant Financial falls into this category, taking an analytics approach. It offers audit and recovery solutions for its clients and leverages technology to do so.
Most recently, Performant has placed a particular focus on advancing its healthcare operations. It works with healthcare payers through claims auditing and coordination-of-benefits services to account for improper payments. From government to commercial, Performant provides solutions to an array of clients.
January was an active month for insider buying. One group, in particular, accounted for the purchases. Four Form 4s were filed between January 12th and 31st by Prescott Group Capital Management. More than 1.3 million shares were purchased at average prices ranging from $1.89 to $2.06.
This list of penny stocks has plenty of biotechs on it. Vaccinex is another to add to it. The company develops antibody treatments for cancer and neurodegenerative disease. Earlier this year, the company reported two complete responses in the 1st three patients enrolled in a Phase 1b/2 KEYNOTE-B84 study of its pepinemab lead treatment. Combined with Keytruda in patients with recurrent or metastatic head and neck cancer, the company revealed that initial responses were positive in 2 of the patients.
“The KEYNOTE-B84 study is accruing patients in the now open expansion phase which will enroll up to an additional 62 patients in approximately equal groups of patients with CPS 20 and CPS ≥20 across 18 U.S. trial sites. We look forward to sharing further results at a medical conference as the study progresses, with interim analysis around the midpoint of enrollment (2H 2022).” - Maurice Zauderer, Ph.D., President and Chief Executive Officer of Vaccinex
A series of insider trading reports came out at the end of January. CEO Maurice Zauderer and directors Albert & Hacon Friedberg reported purchasing more than 5 million shares in the company’s recent private placement. The offering price for this placement was $1.11 per share.
There isn’t a failsafe that guarantees a winning investment if insiders buy. However, adding this topic to your research strategy doesn’t hurt. At the very least, you’ll see if management or large holders are putting more skin in the game around the same time you’ve added the stocks to your watch list.
Penny stocks are some of the highest risk, highest reward assets in the stock market right now. Part of this is because you can quickly make so much money with them. A simple “buy low, sell high” strategy is all anyone needs to keep things simple.
Even with the stock market crashes lower, you’ll see more than a handful of penny stocks trading higher. One of the recently popular themes that readers have followed is something known as “short squeeze stocks.”
It generally involves stocks that have big bets against them, but a violent and aggressive breakout can trigger under the right circumstances. Today we’ll look at a few hot penny stocks to watch this week with higher short interest. Will they squeeze, or will the traders with bearish bets continue winning the battle?
Splash Beverage was one of the increasingly popular short squeeze penny stocks to watch this month. Shares surged during the second half of the month following two significant updates from the company.
Splash announced authorization receipts from Walmart (in Florida) and Ralph’s (in California) for its TapouT & Pulpoloco beverage brands. The company also signed a distribution agreement with Central Distributors of Arkansas and D. Bertonline & Sons in New York for select Splash brands.
According to data from Fintel.IO, the short float percentage for SBEV stock is lower relative to other names on this list of penny stocks. Coming in at roughly 8.58%, it isn’t your typical “high short” figure. However, in light of SBEV being a relatively lower float stock, it could be something to make a note of. Furthermore, with a low time to cover and higher borrow fee rate, traders have circulated this among lists of short interest stocks.
##Singularity Future Technology Ltd (NASDAQ:SGLY)
You might not recognize this name as a familiar face regarding penny stocks. But if you’ve traded low-priced shares for a few months, you likely know the name Sino-Global Shipping. It was a popular cryptocurrency name, believe it or not, as the company transitioned. Following its name and symbol change to Singularity earlier in the month, SGLY stock has begun gaining some attention.
The new face of Sino, Singularity’s model, is focused on digital currency and the legacy shipping business. To get you up to speed, Singularity restructured a mining server purchase agreement for 2,783 servers with Hebei Yanghuai Technology Co., Ltd. Yanghuai was tasked with transporting the servers equal to half of the agreed-upon 50,440 t/s in computing power, to Sino’s Ningbo, China office. The company also appointed a new Chief Technical Officer to help develop prospects for its crypto initiative.
Chief Executive Officer, Yang “Leo” Jie, explained the new mandate in a January press release:
“We made major progress in 2021, including executive leadership changes, new strategic partnerships, and investments designed to establish our technology leadership. Both our Board of Directors and management team wanted to make the formal name change to better reflect our business, as we remain focused on accelerating growth in cryptocurrency and other new markets.”
One thing weighing on SGLY stock is the volatility in the crypto markets. This is something to keep in mind if it’s on your list of penny stocks right now.
According to Fintel, as of this article, the short float percentage on SGLY stock is around 6.94%. Again, it isn’t the highest short interest but something to keep in mind all the same.
Petros shares have flip-flopped during the final days of January. The biotech company’s stock managed to rally back slightly from an earlier sell-off thanks to launching two new studies. Petros provides therapeutics specialized in men’s health and initiated two self-selection studies for STENDRA. This is the company’s erectile dysfunction drug, and the results of the studies will be a part of a larger data package Petros expects to submit to the FDA. Its ultimate goal is achieving over-the-counter status for STENDRA.
Fady Boctor, Petros’s President and Chief Commercial Officer, explained in a January release, “The recently completed label comprehension studies and these self-selection studies continue to enable us to refine and test our draft OTC label in broad as well as in targeted patient populations. We are looking forward to reviewing these results with the FDA during a pre-IND interaction we anticipate having during the first half of 2022.”
Petros has also recently partnered with a global contract manufacturer for the commercial production of STENDRA. According to the company, this is expected to offer cost savings and gross margin increases. As commercial plans and IND speculation present potential catalysts, the market has become more active during the final days of January.
Based on Fintel data, the short float percentage for PTPI stock is much higher than the others on this list. As of this article, that figure sits around 13.74%.
Virus fears have directed big moves in the stock market over the last few years. Some of the biggest beneficiaries have been vaccine manufacturers. Ocugen has been mixed as far as sentiment is concerned. Last year the ocular health company pivoted to vaccine development thanks to its relationship with Inda-based Bharat Biotech and its COVAXIN biotherapeutic. While last year was a big and volatile one for Ocugen, thanks to speculation on COVAXIN, 2022 has seen a much different reaction in the stock market.
Needless to say, investors remain focused on any new or updated advancements from the COVAXIN platform, and that’s precisely what they received last week. Bharat Biotech tweeted out:
“Bharat Biotech’s Intranasal COVID-19 vaccine, BBV154, has received DCGI approval for Phase-3 clinical trials.”
The tweet came in tandem with news that Ocugen signed a letter of intent to acquire a dormant vaccine manufacturing plant in Canada. Blended together, it seems that the market has taken a bullish stance on OCGN stock heading into the new week. It will be interesting to see how this unfolds with the new month beginning.
If you’re looking for stocks with high short interest, OCGN could fit that mold. According to Fintel, the short float percentage as of this article sits at 27.83%.
Shorting a stock isn’t as hard as you might think. A lot depends on your broker and if a particular stock can be shorted (borrowable). The process of shorting involves borrowing shares from a broker and selling them into the public market. Then, once the trader is satisfied with the trade, they repurchase the shares, return them to the broker, and profit.
Since the expectation is that share prices will drop, the profit comes from the difference in the cost to repurchase the shares and the price at which the shares were initially sold. For example, if a trader borrows ten shares, sells them short at $100, then repurchases ten shares at $90 to return the borrow, they would pocket $10 per share.
A short squeeze can cause significant losses for traders who short stocks. During a short squeeze, share prices don’t drop but rise instead. As more retail buying pressure comes into the market, short traders still need to return the borrowed stock.
short squeeze stocks high short interest
In this circumstance, they buy back at higher prices than they originally sold short, thus taking a loss. Combined with regular retail buying, it triggers a snowball effect resulting in aggressive moves in specific stocks.
The thing to remember about short squeeze stocks is that volatility is a big proponent. Stocks can squeeze, breakout big, and then drop just as quickly. For this reason, it’s essential to understand how to trade volatile penny stocks and know how to set profit targets ahead of time. “Going to the moon” is excellent, but if your stock “moons” and you don’t know how to take advantage, you could miss out entirely.
When you look at the definition of penny stocks, you’ll likely see that most refer to these as stocks under $5. In 2021, these cheap stocks have become some of the most actively traded in the market, and for good reasons. You can’t ignore the wild swings and massive jumps that these cheap stocks make daily, and by “daily,” I mean within a single day.
Looking back at some of the most extensive breakouts of 2021 right now shows the tail of the tape. Meme stocks like AMC Entertainment (NYSE: $AMC), Nokia (NYSE: $NOK), and even Express Inc. (NYSE: $EXPR) are among the standouts.
What’s more, even outside of the line of sight of popular message boards and social media sites, there is a slew of many other penny stocks that hit it big this year. What does that mean for you? If you understand how to trade and handle risk, these cheap stocks could be well worth it for you.
With all penny stocks, different trends can impact the market. It’s no secret that broader markets are having a tough time right now. But that doesn’t mean it’s that way for specific niches. Case in point, Bitcoin, Ethereum, Dogecoin, and plenty of other sh*tcoins are on fire right now. With Bitcoin moving over 20% in October so far, it’s acted as the bellwether. As a result, cryptocurrency and blockchain technology stocks are red hot. It isn’t just mining companies either.
Read more: Best Penny Stocks To Buy Right Now? 3 Short Squeeze Stocks To Watch
Things like the Internet of Things, non-fungible tokens, and the like are all ways companies are gaining exposure to this segment in the stock market today. Where there’s excitement, there’s usually momentum. Look at companies like Marathon Digital Holdings (NASDAQ: $MARA) or DatChat (NASDAQ: DATS). These former penny stocks both have very different business models. But based on their different types of exposure to cryptocurrency and blockchain technology, they’ve benefited from the boost in the price of Bitcoin and other currencies.
This has become a recurring series for PennyStocks.com: Stocks under $1. These are some of the lowest-priced in the stock market today. High volatility, higher levels of risk, and higher potential for significant gains are all things to keep in mind. Today, we’re looking closer at three that’ve gained momentum recently and have exposure to the crypto space.
Alpha Esports Tech (OTC:APETF) (CSE:ALPA)
Molecular Data Inc. (NASDAQ: $MKD)
Meten EdtechX (NASDAQ: $METX)
Technology stocks may have gotten beaten up recently. But that doesn’t mean all penny stocks with exposure to tech have followed suit. If you look at the Alpha Esports stock chart, you’ll see what I mean. The period between September 24th and today saw major tech ETFs like the SPDR Technology ETF (NYSE: $XLK) drop hard. On the flip-side of this is Alpha shares and other companies with exposure to the blockchain and cryptocurrency arena have bucked the trend.
At the heart of its model, Alpha is an esports technology company. When it comes to cryptocurrency, Alpha is undertaking an initiative to monetize its esports platform through tokenization. Its Bitcoin pegged Alpha Coin has been created to allow users to enter contests and tournaments while also giving winners the ability to redeem their Alpha Token winnings for local currency or purchases in the GamerzArena store. With the latest jump in the price of Bitcoin, this could be another reason why some are watching APETF stock.
Alpha’s GamerzArena platform has become the backbone of its model. It is building a unique ecosystem that includes novice and professional gamers alike. It also fosters gamer development allowing players and professional scouts to interact. Furthermore, Alpha’s leadership and advisory board comprises members with direct experience in gaming and events. It includes experienced names from leading companies, including Red Bull, Reel One Entertainment, The Golden State Warriors, Mount Sinai, Victory Square Technologies, Activision, and Atari, to name a few. With a surge in cryptocurrency stocks and “new tech” like esports, Alpha Esports may be one of the names to watch.
Molecular Data is another one of the lowest-priced names on this list of penny stocks. For most of September and now October, MKD stock has settled out in a channel between $0.27 and $0.40. The last few weeks have been active for Molecular Data and revealed some of the latest milestones that could be at the heart of recent speculation.
Uniquely positioned in China’s chemical industry, Molecular Data uses its technology platform to connect consumers, retailers, and wholesalers across numerous areas of China’s chemical supply chain. The company delivers e-commerce solutions, warehousing, logistics, and software to streamline the chemical industry’s production flow.
Read more: Hot Penny Stocks That Are Trending in 2021
Where does crypto come into play? Earlier this year, Molecular announced a partnership with Wanxiang Blockchain. The goal is digitizing the chemical industry as a whole. The two plan on building a blockchain platform for addressing things like supply chain bottlenecks, enhanced eCommerce, and the like. The company also inked a deal with an investment firm to establish blockchain data centers. Molecular vaguely explained in a press release that, “The partnership will address bottlenecks in the Chemical space and establish commercial-scale Blockchain data centres in America.”
An interesting trend we’ve seen emerge is a pivot when it comes to specific technology companies. Meten EdtechX is one of these types of companies. As its name suggests, at the surface, it’s an English learning services company. It specializes in English education services in China but has drastically expanded on its tech angle.
Earlier this year, Meten said it began developing a blockchain and cryptocurrency business. The goal, according to the company, was to make a transition into “a new benchmark among innovative enterprises.”
Meten explained that this includes everything from Dogecoin to NFTs. Now that METX has become one of the crypto and blockchain technology stocks to watch, it’s now on traders’ radars when things like Bitcoin surge. What’s’sore, its recent $60 million capital raise have been earmarked for working capital needs, among other things. Given this transitionary focus and upbeat sentiment in the crypto space, will METX become one of the hot penny stocks to watch in October?
Whether or not you’re following this trend closely is secondary to the fact that it has become a driving force for specific stocks. Considering that there’s plenty of volatility in the cryptocurrency market as a whole, that could also translate to stocks with exposure to it. This is something to keep in mind if bitcoin and blockchain penny stocks are on your radar right now.
Pursuant to an agreement between Midam Ventures LLC and Alpha Tech INC Midam has been paid $300,000 for a period from February 12, 2021, to April 2, 2021. We may buy or sell additional shares of Alpha Tech INC in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about Alpha Tech INC. Now extended from 6/30/2021 to October 29, 2021 & no additional compensation of any kind has been received by MIDAM. Click Here For Full Disclaimer.
When looking for penny stocks to buy, investors will often scour the internet for trending small-caps. This is a great way to find momentum with penny stocks, however, there are a few things that investors should keep in mind.
For one, trending penny stocks tend to be highly volatile. While momentum can be large, often, we will see the ebb and flow of corrections and gains work against amateur investors. And for this reason, having a strategy, and understanding how to trade penny stocks will help to put you ahead of the game.
[Read More] Investing in Penny Stocks Right Now? Here’s 3 You Need to Know
Second, investors should have a thorough understanding of why the company is trending. Is it the result of recent news? Has it been trending online? These are questions that will help you to figure out what the recent momentum is all about and how to take advantage of it.
Considering that there are so many penny stocks to choose from, it’s best to be selective with your watchlist. With that in mind, let’s take a look at three trending penny stocks to watch in October 2021.
Farmmi Inc. is a penny stock that has been trending consistently over the past two weeks or so. Again during premarket, shares of FAMI stock are up by over 4%. This brings its five-day gain to almost 40%, which is no small feat. If you’re not familiar, this company processes and sells agricultural products.
Its main offerings are edible fungi products such as mushrooms, shiitake, Coprinus comatus, and more. These products are sold in its Farmmi Jicai online store under the Farmmi and Liangpin brands. Farmmi also sells these products to distributors, restaurants, and specialty stores.
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On September 27th, the company received a multi-product sales order to Israel. The company’s subsidiary Zhejiang Forest Food Co. Ltd. received the order for dried whole and sliced shiitake mushrooms as well as dried black fungus. Since this order was received, FAMI stock has gone from $0.22 per share on average to $0.36 per share on average as of October 4th.
The Chairwoman and CEO of Farmmi, Ms. Yefang Zhang said, “We continue to execute on our business, and drive growth at existing and new customers. We are benefitting from robust demand in traditional geographies, including China, while developing new markets, including Israel.” It will be interesting to see what is next in Farmmi’s pipeline. For now, will this company make your list of penny stocks to watch?
Camber Energy Inc. is an energy penny stock we have mentioned consistently over the past few weeks due to its market momentum. If you haven’t heard of CEI, it is an oil and gas corporation that is based in Texas. Its main focus is on acquiring and developing crude oil, natural gas, and natural gas liquids to sell. As of March 31st, 2020, its total estimated proved reserves totaled 133,442 million barrels of oil equivalent. Over the past few weeks, Camber Energy has made some incredible strides in value. In the last month alone, shares of CEI stock have shot up by an outstanding 218% bringing its one year gain to almost 300%.
At the end of August, Camber announced that it had secured an exclusive IP license for a patented carbon-capture system. This exclusive intellectual property license agreement is related to stationary electric power generation and more. The ESG Clean Energy System is made to generate clean electricity from internal combustion engines and uses waste heat to capture almost 100% of CO2 without losing efficiency.
“In my view, this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices.” - President and CEO of Camber, James Doris
On October 4th, CEI stock’s volume was nearly double its market average. With this in mind, will you add CEI to your penny stock watchlist?
If you’ve read any of our last few articles, this is probably a familiar name. It was on the list of short squeeze penny stocks to watch before the end of last month. At the time, most outlets showed PROG stock short float percentage over 40%. We also discussed how it also had a relatively lower float, in general. Many times this can present an interesting scenario for high volatility. Fast-forward to this week, and we see exactly how that plays out.
PROG stock retested highs from Friday, which is also levels around its 100-day moving average. It failed to break above this last week, and so far, the area around $2 has remained a sticking point at the start of this week. However, something to keep in mind is that since our article last month, PROG stock has rallied roughly 100%. With that big move, it’s important to monitor any new levels to identify potential support or resistance.
Other than this technical move, thanks to high short interest, Progenity has some fundamental things to look at also. Progenity is developing products for molecular testing. The company has worked on advancing things like its PreecludiaTM test to rule out preeclampsia in pregnant patients.
A recent study demonstrated that Preecludia could “significantly distinguish” between the presence and absence of preeclampsia. Progenity was also granted a patent for its preeclampsia rule-out test. In addition to this, Progenity announced a $20 million registered direct offering of common stock on Monday, October 4th. This is most likely a move to capitalize on its recent momentum.
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Looking ahead, something to keep in mind if PROG stock is on your list is an upcoming presentation. Progenity will participate in the Partnership Opportunities in Drug Delivery Conference at the end of the month. VP of Strategy and Operations, Chris Wahl, MD, MBA, will join a panel titled, “Orally Ingestible Devices for Biologics Delivery.”
Finding the best penny stocks to buy is all about understanding the current state of the market and your own investing style. If we consider both of these, we find that making money with penny stocks can be much easier than previously imagined. So, with that in mind, which penny stocks are on your watchlist right now?
See Original On Penny Stocks
Penny stocks are on fire right now. And after a few months of volatile trading, we are seeing a return of bullish sentiment among a large range of penny stocks. As a result, many investors are working to align their strategies with the current state of the stock market. One thing to keep in mind is that there is a lot of movement in the market right now.
This is illustrated by the most recent rise of meme stocks such as Camber Energy Inc. (NYSE: $CEI), which has climbed by over 650% in the past month. While this alone does not indicate a larger bull market, it does show that investors are hoping for a bullish turnaround. And right now, there is plenty of volume to make that the case.
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Overall, we do have to consider that there are a lot of unknowns in the stock market. While Covid cases are declining in some parts of the world, it’s clear that the pandemic is not over yet. And the result of this is high inflation rates, geopolitical troubles, and so on. So, if we take all of this into consideration, we can begin to adapt our strategies with how the market is moving in October 2021. With that in mind, let’s take a look at three penny stocks to watch this month.
BEST Inc. is a company that operates as a smart supply chain service provider in China. The company’s BEST Cloud technology platform enables its ecosystem participants to operate through various SaaS-based applications. BEST uses its technology to network and route optimization applications as well as smart warehouses and store management. It offers integrated services and solutions across the supply chain such as warehouse management and order fulfillment.
Last month, the company reported its second-quarter financial results for 2021. The company’s revenue decreased, and it experienced gross loss and net loss as well. This is happening as the company is going through a strategic refocusing plan. Despite these negative results, there have been many days in the market where BEST stock has gone up in price. Its strategic refocusing plan is very important for investors to consider, as it could present long-term potential for BEST stock.
“In the second quarter we continued to press forward with our strategic refocusing plan and build on the encouraging signs we are seeing in network stability, service quality, and cost reduction while adapting to the competitive industry landscape.”
Chairman and CEO of BEST Inc., Johnny Chou
In the last month, BEST stock has gone up in price. Considering all of this, will you put BEST stock on your penny stocks watchlist?
Predictive Oncology Inc. is a biotech corporation that creates healthcare products for disposing infectious fluids and more. Its STREAMWAY System is an automated system for disposing of fluid to give an uninterrupted performance for physicians. On the other hand, its CRO services enhance the effectiveness of cancer therapy through AI applied to databases. In the past five days, shares of POAI stock have shot up by around 7% and YTD by over 84%.
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In August, the company reported its financial results for the quarter ended June 30th, 2021. The company announced net proceeds of $19.4 million from a registered direct equity offering. The total stockholders’ equity increased from $50.4 million to $53.1 million, compared to $2.6 million on December 31st, 2020. Predictive Oncology’s revenue came in at $350,207 compared to $182,784 year over year. This growth is interesting for investors to consider, and shows that the company is working hard to progress.
“As we look towards the latter half of the year, we are confident that we will retain this trajectory as we invest in our people and our product offerings, supporting pharmaceutical companies to deliver more targeted approaches to therapy, increasing our footprint in this space and bringing value to our shareholders.” - CEO of Predictive Oncology, J. Melville Engle.
In the last month, POAI stock has increased substantially in the market. So, will this company make your list of penny stocks to watch?
Farmmi Inc. is a penny stock that we’ve been talking about for months now. Despite a 60% drop in value in the past six months, shares of FAMI stock have been skyrocketing in recent trading sessions. In the past five days, FAMI stock has shot up by a staggering 104% including an over 27% gain at midday on September 30th.
While Farmmi does have a lot to offer, the other main catalyst behind this movement is FAMI’s placement as a meme stock. This is the result of it being discussed heavily online via Reddit and Twitter. On September 29th, the CEO of Fammi issued a letter detailing its forward expectations for growth and expansion.
The CEO of the company stated that “Farmmi has made tremendous progress over the past 20 years, as we have built an industry leading agricultural brand specializing in the production, processing, marketing, and research of edible fungi products. In addition to continuing deep cultivation of edible fungi, we are constantly evaluating strategic options to optimize and expand our business.”
Alongside several acquisitions, the company plans to expand its health and wellness business in the near future. If you’re not familiar with FAMI, it is a supplier of fungi to both retail and wholesale markets. This includes shiitake’s, Mu Er mushrooms, and other agricultural products.
The company has been working hard to expand in the last year, especially considering the effects of the pandemic. And as a result, it looks like this hard work may be paying off right now. It’s worth noting that FAMI stock is highly volatile as illustrated by its recent price movements. But, if that is part of your strategy, FAMI stock could be worth adding to your watchlist.
Are Penny Stocks Worth It or Not?
Finding the best penny stocks for your buy list can be challenging. But, with so many factors contributing to larger market momentum, there is plenty to take advantage of.
[Read More] 5 Short Squeeze Penny Stocks To Buy For Under $5 Right Now
As always, the best way to make money with penny stocks is to have a proper trading strategy. This means understanding how the market will fluctuate and what is contributing to its movements. With all of that in mind, do you think that penny stocks are worth it or not?
Trading penny stocks is something people do every day. But over the last 18 months, a lot has changed. There’s a lot more chatter among retail traders, and that’s to be expected. Millions of new market participants have entered the ring looking to make money with penny stocks and blue chips.
The rise of meme stocks opened the flood gates for new trends to take hold in the stock market today. Things are becoming more thematic, whether it’s the latest sector trend like energy and electric vehicles or simply looking for penny stocks under $1. One of the more popular and recently discussed themes relates to stocks with higher levels of short interest. These “short squeeze stocks” are sought after by mainly retail traders. They’re looking to capitalize on volatility that can ensue from a short squeeze.
I’ll briefly touch on the metrics of a short squeeze. Then we’ll dive into a list of potential short squeeze penny stocks that can be bought for under $5. So, what is a short squeeze? To understand this, you’ll need to know what shorting is in the first place. Without getting into an entire lesson on short squeezes, let’s look at some basics. Shorting is when a trader expects a stock to decline. To benefit from this, the trader borrows shares from a broker, sells them, then hopes to repurchase them at a lower price later on to return the shares to the lender. The difference between the higher selling price and the lower buyback price is the profit.
Read more: 5 Penny Stocks To Watch Under $1 After CEI Stock’s 900% Rally
When a short squeeze gets triggered, the stock ends up going higher instead of lower. Short sellers still need to cover their short but are forced to buy back shares at higher prices and take a loss. As short cover volume combines with retail buying, the shorts get “squeezed” or forced to cover. This is something we’ve seen happen with companies like Camber Energy (NYSE: $CEI), AMC Entertainment (NYSE: $AMC), GameStop (NYSE: $GME), and countless others this year.
Short squeeze penny stocks typically have a few common traits. First, they’ve got higher short interest. This is based on the percentage of the float short at a given time. Many will also have a lower float. However, this isn’t always the case. However, the lower the float, the more volatile things can become. No matter how “cheap” a stock might be, it’s essential to take multiple factors into account. Will these be the best penny stocks to buy right now?
One of the hot penny stocks under $1 to watch this week is Farmmi Inc. It has its primary business model focused on mushrooms. I’m not talking about the popular trend in psychedelics, though. Farmmi specializes in things like fungus and Shiitake mushrooms and sells to a global consumer base. It has also begun expanding its offerings through a series of new acquisitions and establishing additional subsidiaries.
I won’t give a history lesson on the company. But what I will say is that September has been or of the more active months for corporate updates. Part of that string of news were headlines related to a discounted financing round that brought in $81 million and triggered a sell-off in the stock. Since things have settled down, retail traders are refocusing on Farmmi’s expansion plans.
In an update this week, CEO Yefang Zhang explained Farmmi’s recent acquisitions and expansionary plans. These include its newly acquired Jiangxi Xiangbo Agriculture and Forestry Development company. New products like bamboo, Chinese fir trees, and Camellia oil came with this purchase. Farmmi also established several subsidiaries focused on health and wellness.
However, the focus seems to be more on the FAMI stock price and short position. It’s currently trading below $0.30, and short float percentages are hovering around 38%. Given a focus on penny stocks under $1 and potential short squeeze stocks, FAMI could be one to watch.
Similar to Farmmi, Enveric is also focused on mushrooms. But in this case, we’re talking about the “magic” kind of fungus. Specifically, Enviric is taking a step into neuroscience through the acquisition of MagicMed Industries. This deal will see the companies focus on creating a library of derivative psychedelic molecules such as psilocybin, N, N-dimethyltryptamine (DMT), and other molecular derivatives.
In a press release earlier this month, Dr. Joseph Tucker, incoming CEO of Enveric, explained, “Our platform has the potential to disrupt and unlock much-needed mental health treatments through psychedelic therapies…We have brought together pharma and biotech experts with years of experience in bringing innovative treatments to market as well as a discovery team with a world-class biotech laboratory.”
Read more: These Penny Stocks Are Popular With Retail Traders Right Now
This progress has also earned the company some bullish attention from analysts. Aegis and Maxim have both gotten behind Enviric with Buy ratings this summer. Maxim’s current price target is $6, while Aegis has a $7 target. As far as potential short squeezes go, ENVB stock is on the lower end of “high short interest stocks.” In this case, most data shows a short float percentage of around 14%.
On the more traditional side of biotechnology, Progenity has also come onto this list of short squeeze stocks. Most outlets show PROG stock short float percentage over 40% right now, which is high by any account. It also has a relatively lower float in comparison to some of the other names on this list. So keep this in mind as well.
Unlike Enveric, Progenity is developing products for molecular testing. The company has worked on advancing things like its PreecludiaTM test to rule out preeclampsia in pregnant patients. A recent study demonstrated that Preecludia could “significantly distinguish” between the presence and absence of preeclampsia. Furthermore, this month Progenity was granted a patent for its preeclampsia rule-out test.
According to the company, this test is expected to target an addressable market of up to $3 billion annually. With a patent granted, this could help open opportunities for partnerships and additional commercialization opportunities. This is what Matthew Cooper, Ph.D., chief scientific officer of Progenity, explained earlier this month.
With a higher short float percentage and considering it’s one of the penny stocks under $1 right now, it could be one to watch.
Another one of the penny stocks we’ve discussed is Alset EHome International. The company focuses on sustainable healthy living and develops EHome communities. Other facets of the business focus on myriad industries all centered around technology. In more recent news the company was wearing its investing hat, so to speak. Alset took a larger stake in another penny stock company, Document Security Systems. Alset owned roughly 11.7% of the common stock of DSS.
“This exercise demonstrates the confidence AEI has in DSS and exemplifies the value we place in DSS as a company that we are able to work together with for a brighter future,” commented the Company’s Chairman and Chief Executive Officer, Heng Fai Chan. “We are excited by what lies ahead for the two companies and what we are able to achieve together on an accelerated basis through a shared vision.”
Even though this was the most recent, it hasn’t been the sole focus of traders. One of the updates that have stuck with the retail public is Alset’s deal with Tesla (NASDAQ: $TSLA) earlier this summer. The company entered into a strategic agreement with Tesla for an initial supply of Tesla PV solar panels, Powerwalls and electric-vehicle chargers to be installed at single-family homes. Alset further expressed interest in acquiring more units for its Houston area pads for delivery this year with plans to develop more than 5,000 intelligently designed Ehomes in the next three to five years.
Similar to PROG, AEI stock shows a percentage float short figure on the higher end of the spectrum. Most data sources have this sitting north of 30% right now.
Energy stocks have been red hot this month. More recently, this week has seen countless oil and gas, carbon capture, and even alternative energy stocks climb. This includes producers, supply chain management, distribution, and everything in between. US Well Services is part of the “picks and shovels” portion of the energy industry. The company provides hydraulic facing services for electric fracing stimulation.
This year US Well Services has focused on transitioning to a fully electric frac services company. In its second-quarter update, CEO Joel Boussard explained that “during the quarter we finalized the design of our new 6,000 HHP Nyx Clean Fleet(R) pump, resolved outstanding litigation, began implementing a plan to reduce term loan borrowings, and raised funds to grow our electric fleet.”
The fact that we were able to accomplish so much while maintaining the highest levels of service quality and posting strong financial results is a testament to the resolve, efficiency and capability of the U.S. Well Services team.
With energy industry activity improving, related stocks have begun benefiting. As far as USWS being considered in the “short squeeze stock” category, most data shows a short float percentage of around 20%.
Short squeeze stocks have become a fan favorite among retail traders. But they aren’t for everyone. If you don’t understand how to trade when extreme volatility is in play, it’s best to get a bit more experience first. Understand how to set up your trading plan, identify profit targets, and determine what works best for you when prices are all over the board. Regardless, when short squeezes happen, they can bring the potential for some of the most extensive breakouts in the stock market today.
If you’re looking for the best penny stocks to buy right now, grab a number and get in line. This year has been one of the wildest when it’s come to these cheap stocks. Thanks to the meme trend early on, retail traders have become well aware of low-price stocks’ potential.
Whether it was the AMC Entertainment (NYSE: $AMC) rally from $1.92 to highs of $72.62 or the latest breakout of Camber Energy (NYSE: $CEI) from $0.33 to highs of over $3.30, the proof is in the pudding as they say.
Not all penny stocks respond this way. But it isn’t unusual to find stocks under $5 that jump 50% or more within a single day or week. The important part is knowing how to find opportunities early. In addition to that, you’ll want to have a plan going into the trade.
Are you aiming for short-term gains or planning on swinging it for a few days? Or looking to invest in penny stocks? Your plan can evolve, of course, depending on market conditions. You can also use different strategies to keep you in winning trades longer for when stocks like CEI and AMC end up running for more than just a few days.
It’s crazy to think that at one point in the not-so-distant past, so many of the meme stocks were trading as penny stocks. Today’s article focuses on some of the lowest-priced names in the stock market today. But thanks to CEI stock‘s epic run, could be on the radar heading into October.
One of the latest trending penny stocks to watch this month is Alpha Esports Tech. The recent news that the company’s shares are DTC eligible has opened up more access to US brokerages. Leading up to this, momentum had already been picking up. If you look at the last four days of trading, you’ll see what I mean.
One of the themes that have remained a focus for Alpha since going public this year is expanding its footprint. The company has ramped up efforts to establish critical partnerships with leading sports organizations and other Esports companies. According to Alpha, it has already partnered & worked with HUGE names in sports, entertainment, and education, including Barstool Sports, ESPN Radio, Devil Child, Oxygen Esports, Notre Dame, Syracuse University, Penn State, University of British Columbia, University of Rochester, Western Michigan University, and others.
It most recently inked a deal to become the Official Online Gaming Portal of Nets Gaming Crew, the NBA 2K League affiliate of the Brooklyn Nets, providing Alpha the opportunity to directly connect with NetsGC’s network of fans and the NBA 2K League community. NetsGC and Alpha will team up to host two esports tournaments on the GamerzArena platform – one for high schoolers and one for college students, just for starters.
What To Watch With Alpha Esports
Where the real opportunity comes to light is the way Alpha is monetizing its user base. Its GamerzArena+ product is a subscription-based service allowing members access to higher-paying tournaments along with the ability to access unique and special events. What’s more is that the other partnerships that Alpha has established have helped expand its global reach in places like India, Brazil, and North America.
Led by experienced names from Red Bull, Reel One Entertainment, The Golden State Warriors, Mount Sinai, Victory Square Technologies, Activision, and Atari, Alpha is emerging as one of the esports stocks to watch in 2021.
Another one of the penny stocks under $1 that’ve gained momentum recently is Enzolytics. The company specializes in drug development for treating infectious diseases. In particular, its platform includes potential treatments for HIV/AIDS, as well as the coronavirus. While there haven’t been many new updates, its share price has recorded substantial gains this month.
At the end of August, shares traded around 12 cents. As of this week, ENZC stock has reached highs of just over $0.17. This might only equate to a 5-cent move. However, since this is one of the cheapest penny stocks on this list, a move like that is worth more than 40%.
What To Watch With Enzolytics
In its last update, Enzolytics announced the completion of its agreements with Danhson and Clinic Design for advancing its ITV-1 anti-HIV therapeutic to production and clinical trials. Danhson will produce the therapeutic while Clinic Design undertakes the task of conducting clinical trials. At the time (July 2021), the company explained that “Production of the therapeutics is expected to be completed in the next few months followed by clinical trials to be conducted immediately thereafter.”
Read more: 3 Penny Stocks to Watch Amid High Market Volatility
According to the company, in in vitro tests conducted in 5 international laboratories, ITV-1 was shown to fully neutralized over 95% of all strains and viral subtypes of HIV-1 against which it was tested. Enzolytics explained that the basis for its broad-spectrum efficacy is that Clone 3 antibody targets an immutable epitope on the HIV virus. Given the speculation has begun building once again, ENZC stock has remained on the watch list for some traders right now.
NXT-ID has worked on bouncing back from a significant dip earlier this month. The company announced a public offering to raise $12.5 million at a steep discount to the market at that time. Following the drop, NXTD stock had upheld levels and a consistent trading channel between $0.40 and $0.50.
The company is a tech company focusing on biometric and behavior-metric identity verification. Its LogicMark subsidiary opens the door for the company to manufacture and distribute both non-monitored and monitored personal emergency response systems. With millions in fresh capital, NXT-ID has earmarked funds for new product development and liability reduction, among other things.
What To Watch With NXT-ID
Right now, the attention is on an upcoming proxy vote. There’s a special shareholder meeting next month on the 15th. With this, holders of NXTD stock will decide on the outcome to allow the company to effect a reverse split or not. The primary purpose of the split, according to NXT-ID, is to regain compliance with the Nasdaq and have a minimum price of $1. The split has already been supported by proxy advisory firms, which has helped boost sentiment this week. With the proxy date looming, will NXTD be on your list of penny stocks to watch heading into October?
You can’t talk about trending penny stocks today without mentioning at least one energy company. Superior Drilling Products has experienced a strong move this week thanks to upbeat industry sentiment. Furthermore, SDPI stock also falls into the low float stock category that many retail traders have followed recently. In the case of Superior, the total outstanding share count sits below 26 million. Furthermore, some outlets list the float at just over 11 million. By most accounts, SDPI can be considered one of the low float penny stocks to watch.
Why would anyone look for this feature? When you’re talking about lower “floats,” you’re talking about stocks that have fewer shares freely trading between public hands. Basic supply and demand say that lower supply and higher demand equate to higher prices, and higher supply with lower demand is the opposite. Low float penny stocks are well-known for their volatility. In this light, SDPI stock has gained some interest.
What To Watch With Superior Drilling
Along with the low float trend, energy stocks are hot right now. Superior Drilling specializes in developing drilling tool technology aimed at cost savings for its customers. Its solutions include Superior’s Drill-N-Ream well bore conditioning tool and its Strider oscillation system. In its latest round of earnings, the company expressed that it had seen favorable responses from its products.
“We believe our strong growth this quarter clearly demonstrated the value of our Drill-N-Ream(R) (“DNR”) well bore conditioning tool as well as the growing demand for our manufacturing capabilities. The DNR is enabling drilling innovation. We believe that by including our tool in their drill string, producers are able to drill more complex well profiles and increase the total flow area of their wells while covering greater footage in shorter amounts of time.” - Troy Meier, Chairman and CEO
With this backdrop against a bullish energy market, SDPI may be on the list of penny stocks to watch among retail traders.
Aikido Pharma jumped this week thanks to a string of news-fueled momentum. The company announced its latest investment in telehealth company Kerna Health. The digital health platform is used for digital health monitoring and virtual care.
The attractive part mentioned by Aikido was that Kerna is quickly developing a large backlog of shared revenue contracts. In particular, the backlog of executed contracts was already at $25 million in Pro-forma shareable revenues along with additional in-process contracts Aikido said could grow to $50 million “n the short term” with $400 million thereafter.
What To Watch With Aikido
This week momentum continued in the market for AIKI stock. Once again, headlines sparked this move. Aikido announced that it secured interest in Tevva Motors, which produces electric trucks. While this may seem like a deviation from its core model, Aikido has become a company to watch for its investment process as well. Earlier this year, the company invested in DatChat (NASDAQ: DATS), which has become a massive hit in the stock market this quarter. Whether or not this latest deal that offers exposure to the EV space follows suit or not is yet to be seen.
Penny stocks are known for their high risk and reward. Over the last few months, traders have become more familiar with these cheap stocks, and thanks to massive breakouts from the likes of AMC or CEI stock, attention remains at high levels. One of the beauties is that even if the stock market on a broader scale is down like it is today, there’s sure to be plenty of penny stocks to watch that buck the trend.
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With the month of October fast approaching, many investors are looking for the best penny stocks to buy. While it is still around a week or so away, being proactive can mean the difference between making money with penny stocks and losing money with penny stocks. So, for that reason, it is always best to try and stay ahead.
Now, a new month may not seem like a big deal, and it usually isn’t. However, it can present a symbolic shift. What this means is that investors will often view a new month as a clean slate, and it sets the tone for the near term. Historically, September is a month of less than stellar trading. If we look back in the last 90 years or so, September has posted an average return in the S&P 500 of -0.99%. And while these are only averages, they can be important to consider for investors of all types.
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So, if we understand this, we can see that October may have better cards on the table. But, at the end of the day, making money with penny stocks all comes down to having a trading strategy and understanding how the market works.
With a trading strategy, it should be individualized, and match your unique investing goals. And to understand how the market works, it would be beneficial to seek out a trading education. So, taking all of this into consideration, let’s look at a few penny stocks that could be worth keeping an eye on next month.
Clear Channel Outdoor Holdings Inc. is a penny stock that has pushed up by over 24% in the past six months. This brings its YTD gain to over 60% and its one-year gain to over 125%. If we look at the chart, we see that CCO stock is also on a very linear path, which is not something we see with many other penny stocks.
If you’re not familiar, Clear Channel is a communications company that sells advertising displays. Among its offerings are info kiosks, billboards, bulletins, posters, transit displays, and much more. As of December 31st, 2020, the company had 71,000 ad displays in the Americas, and 430,000 ad displays in Europe.
In July, Clear Channel reported its second-quarter results for 2021. During this period, the company’s revenue grew by a very solid 36% to a total of $271.6 million in the Americas. Also in the Americas, its segment-adjusted EBITDA rose by 170.6% year over year as well, to $127.2 million. For Europe, its revenue and segment adjusted EBITDA rose 130.2% and 102.5% respectively. These numbers are all very exciting for the company and show encouraging signs of growth.
CEO William Eccleshare said, “In the third quarter, all of our business segments are growing well ahead of last year with some markets now beginning to exceed 2019 levels, reflecting the easing of remaining mobility restrictions across the majority of our markets, pent-up advertising demand and the strength of our value proposition.” Following its participation in the Goldman Sachs Communacopia Conference on Tuesday, September 21st, CCO is continuing to see momentum. With this in mind, will CCO be on your penny stock watchlist?
CytoDyn Inc. is a biotech penny stock that has climbed by over 60% in the past month alone. This sizable momentum is due to both events from the company and its placement as a leading biotech stock. For more information, CytoDyn is developing treatments for different medical applications with its leronlimab drug. Leronlimab is a humanized monoclonal antibody that targets the CCR5 receptor. This product has previously been tested on those with HIV as a potential treatment. However, the company is studying a variant of leronlimab for its potential to treat those with COVID-19.
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On September 9th, CytoDyn announced the treatment of its first patient in its Phase 3 COVID-19 trial in Brazil for patients with severe symptoms. Now an interim analysis will be conducted 28 days after the enrollment of 245 total patients. This trial is being done by the Academic Research Organization Albert Einstein Hospital.
“Today marks the first day of the much anticipated clinical trial in Brazil that we have been waiting for and we are so grateful to our team who conducted the CD12 trial in U.S. that produced a wealth of information for us to be able to appropriately design and power these two studies.” - President and CEO of CytoDyn, Nader Pourhassan
Because of CytoDyn’s recent advancements, the company’s stock price has skyrocketed in the last month. In September, shares of CYDY stock shot up by over 22.5% in the market. Noting all of this, will CYDY make your penny stocks watchlist?
IAMGOLD Corporation is a company that develops a wide range of gold mining properties. It explores for, develops, and operates land in multiple countries which makes it an interesting mid-sized gold stock. IAMGOLD’s operations primarily take place in North America, South America, and West Africa. Spread across these locations are mines with high-gold potency such as the Westwood mine, the Boto gold project, and many more.
On September 16th, the company reported assay results from the Lac Gamble drilling program on the Rouyn Gold Project. This project is located in Canada. IAMGOLD is reporting results from seven diamond drill holes that total 1,826 meters. The objectives of the drilling program were to complete an initial geotechnical drilling campaign and test for potential extensions down plunge.
“Our drilling program at Lac Gamble earlier this year specifically targeted some selected areas for possible extensions, as well as to complete some initial geotechnical drill holes to assess rock quality in the context of a potential underground mining scenario.” - Executive VP of Growth at IAMGOLD, Craig MacDougall
While the price of IAG did not immediately shoot up on the news of this announcement, its volume is much greater than its average. In fact, its volume is about double its market average over the past few days. So considering this, will IAG enter your list of penny stocks to watch?
Finding the best penny stocks to buy right now can be challenging, but with so many factors occurring, there is plenty of momentum to take advantage of. Right now, the largest impacting factor is Covid, which is definitely something to look out for.
[Read More] Are Biotech Penny Stocks Worth Buying? Check These 3 Out
But, if you stay up to date with the news, it can be much easier to make money with penny stocks. Considering this, which penny stocks are you watching right now?
On September 23rd, many penny stocks and blue chips managed to climb by midday. This is the result of early-week bearish sentiment and a resulting bullish turnaround. If you’ve invested in penny stocks in the past year, you likely have experienced major industry volatility. This is a symptom of Covid, inflation, and certain geopolitical events.
And as a result, every day seems to carry a high amount of market fluctuations. So, investing in penny stocks in 2021 is unlike any other year, however, this increased momentum means that there is a lot to take advantage of. The best way to do so is to have both a trading strategy and a strong trading education by your side.
[Read More] Are Penny Stocks on Your Watchlist? If So, Check These 3 Out
The combination of these will help to minimize losses and increase the potential profitability of your trades. In addition, having a thorough understanding of the current market conditions will help you to predict potential price movement. And as a result, it may be easier to make money with penny stocks. Considering this, here are five small caps that exploded today.
One of the biggest gainers of the trading day so far is Transcode Therapeutics Inc. By midday, shares of RNAZ stock managed to shoot up by over 57%. This brings its five-day gain to over 60%, which is more than substantial. While gains like this can occur without news, Transcode made an exciting announcement during premarket on September 23rd.
[Read More] Do These Penny Stocks Deserve a Place On Your Watchlist?
If you’re not familiar with Transcode, the company is an oncology-focused biotech business working with RNA-based therapeutics. Its drugs are produced with the intention of treating different cancer types including its leading therapeutic candidate, TTX-MC138. This compound is in use as a treatment for metastatic cancer, which according to the company, is responsible for 90% of all cancer deaths per year worldwide. Today on September 23rd, the company stated that clinical data from TTX-MC138, was published in the medical journal, Cancer Nanotechnology.
“Our TTX technology builds upon prior experience with similar iron oxide nanoparticles that have long been used in humans for imaging, potentially enabling clinical studies that may de-risk future clinical trials by demonstrating successful drug delivery and assist in patient selection for future treatment.” - Michael Dudley, the CEO of Transcode
This is a big deal for the company and shows the potential success of its leading drug candidate. Considering that RNAZ stock does look highly volatile, it could be worth adding to your watchlist in September. Whether it’s worth buying or not, however, is up to you.
Another decent gainer of the day so far is MTNB stock. By midday, shares of MTNB had shot up by over 5% which is no small feat. This brings its one-month gain to a very sizable 100%. While no company-specific news came out today, it did make an announcement on Monday of this week. But before we get into it, it’s worth discussing the company and other possible causes of the recent momentum.
For one, the biotech industry is heating up right now. As evidenced by several other major biotech penny stock gainers, we are witnessing solid bullish momentum in the biotech industry. On September 20th, the company announced that it has nominated Kathryn Penkus Corzo for its Board of Directors. While the official election will take place on November 1st, the company states that Ms. Corzo has a very solid track record.
Only a week or so before this, the company announced highly positive data from its Phase 2 EnACT trial of MAT2203 for cryptococcal meningitis. In the study, all 39 patients achieved sterility and none reported a breakthrough or recurring infection during the first ten weeks. This is very encouraging and shows the potential that this drug could have. So, if we look at all of this data wholly, we see that MTNB is in a very advantageous position as it related to its potential future. With this in mind, will MTNB stock be on your watchlist?
One of the most consistent gainers of the day and of the past few weeks is BEST stock. Today, shares of BEST stock shot up by as much as 11% and in the past five days by over 40%. In the past month, shares have shot up by over 92%.
While these gains are exciting, what’s more, exciting is the chart for BEST shows a very stable climb during that period. BEST Inc. for some information, is a smart supply logistics provider in China. It offers a large set of logistics services, freight delivery, and supply chain management products to ensure freight gets delivered on time and is completely trackable. Ahead of its upcoming 2021 Annual General Meeting on October 20th, we can look at why shares of BEST Inc. have been skyrocketing in recent trading sessions.
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According to a report that came out today, one of BEST’s shareholders, Alibaba Group Holding Ltd., could be considering selling the logistics business. BEST Inc. is working with a financial advisor and is seeking a potential valuation of over $1 billion. If the sale occurs, it would be a big deal for both the company and investors alike. And as a result, shares have been shooting up on higher volume during the past few trading days. Whether this makes BEST Inc. a worthy addition to your watchlist or not is up to you.
Moving down the list of major gainers for the day on September 23rd, we see RWLK stock with a midday rise of over 32%. To understand why RWLK stock is moving, we have to take a look at its short squeeze potential. ReWalk is known as a meme stock, which is a stock that rises based on social sentiment. We saw this with GME stock, AMC stock, and a plethora of others over the past year and a half. And, many of these stocks are driven by their short squeeze potential. While ReWalk does have promise as a producer of exoskeletons, it does not seem like this is what’s driving its price.
Rather, traders have come together across social media to invest in RWLK, effectively driving its price up substantially. In the past five days, shares of RWLK stock have shot up by over 88% bringing its one-year gain to over 118%. In its second-quarter results, ReWalk managed to bring in more than $1.4 million in revenue with over $64 million in cash on hand.
“The second-quarter results reflect the ongoing reopening of the markets. We are now able to trial many new individuals who had been waiting and filled our pipeline during the pandemic. Our focus on achieving broader coverage in Europe and the United States has also been encouraging.” - Larry Jasinski, the CEO of ReWalk
All of this news is exciting, however, investors should be careful considering the high volatility of RWLK stock right now. But, if you are inclined to invest in riskier companies, ReWalk Robotics could be worth taking a look at.
By midday, shares of AIHS stock had climbed by over 8%, bringing its five-day gain to almost 30%. Based in China, Senmiao is a provider of automobile-related transaction services. This includes the facilitation of leasing, purchasing, and other car buying needs. But, in addition to this, it also operates its own ride-hailing platform.
Only a week or so ago, the company announced metrics from its platform, which showed that in August, it completed over 530,000 trips. Since the launch, the company states that it has completed over 12.7 million rides. This is a major number and shows that it could become a leader in the ride-hailing market in China. In addition, only a few days before this the company stated that it entered into a cooperation agreement with Shanghai Lutuan Technology.
Xi Wen, CEO of Senmiao stated that “we are pleased to continue our partnership with Meituan under this new model, whereby we provide Meituan with access to our network of cars and drivers in Chengdu and Guangzhou.” Because of its sizable gains in the past week, AIHS stock could be worth looking into.
Finding the best penny stocks to buy in 2021 can be complicated. But, with the right research and commitment to having a trading education, it can be much easier to make money with penny stocks.
[Read More] Top Penny Stocks You Need to Know About Right Now
And, with so much going on in the stock market, there is plenty of momentum to take advantage of. So, considering all of this, which penny stocks are you watching right now?