3 Top Penny Stocks to Watch in July 2021
Finding the best penny stocks to buy in 2021 can be a challenge. If we consider that there are plenty of external factors affecting penny stocks of all types, we see that it is difficult to keep track of everything at once. But, if we consider the current inflationary effects alongside the trajectory of the pandemic, we can adjust our penny stocks watchlists accordingly.
Yesterday on July 13th, some less than stellar news came out about inflation, which albeit, has been expected over the past few months. But, this news saw the S&P 500 dropping from its very recent record-high. On Wednesday, July 14th, several earnings reports came out including Bank of America, Citigroup, and Wells Fargo. Both C stock and WFC stock managed to beat both profit and revenue estimates while BA stock’s report was mostly mixed.
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It appears as though many investors are still fearful about the pandemic, especially considering the massive rise in Delta-variant attributed cases. But, with vaccines still showing high efficacy against the variant, investors are hopeful about the future. As we see, a lot depends on the next few months and what happens during that time frame. But, in the meantime, here are three hot penny stocks to watch right now.
3 Hot Penny Stocks to Watch Right Now
- Sundial Growers Inc. (NASDAQ: SNDL)
- Yamana Gold Inc. (NYSE: AUY)
- Datasea Inc. (NASDAQ: DTSS)
Sundial Growers Inc. (NASDAQ: SNDL)
Sundial Growers Inc. is a penny stock that has been increasing in market value in the past few months. For those unfamiliar, Sundial is a company that produces and markets inhalable cannabis products such as pre-rolls, vapes, and marijuana flower. Sundial is involved in the production and distribution of these products and has a very large market reach. The company’s brands include Palmetto, Sundial Cannabis, Top Lead, and Grasslands.
Recently, Sundial announced a CA$188 million commitment to SunStream Bancorp Inc. Now, the company has increased its commitment to CA$538 million, which is quite a sizable uptick. SunStream is a joint venture with Sundial and the SAF Group intended to benefit both companies. Additionally, it’s worth noting that Sundial Growers recently held a shareholder meeting on July 7th.
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Stocks that are frequently mentioned on social media are often referred to as “meme stocks”. SNDL has become a meme stock due to the many popular posts about the company on popular subreddits like r/wallstreetbets and r/wallstreetbetselite. This has contributed to a lot of momentum for SNDL stock. In the past few weeks, the company’s average volume has jumped to more than 200 million. With this in mind, will SNDL stock make your watchlist this week?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that is showing heightened popularity right now. For some context, Yamana produces both gold and silver at its various properties around the world. It also has several projects in the development stage as well as exploration locations that are under review.
On July 12th, the company announced that it will soon release the results of its Feasibility Study update on its Wasamac project. This is a project fully owned by Yamana located in the Abitibi-Temiscamingue region of Quebec, Canada. This will take place on July 19th after the market close. The announcement is a big deal and one that should give investors a great deal of insight. This insight will detail how and when this project can proceed. While it will take some time before this study is released, it could be big news for the company and investors alike.
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In addition to this announcement, Yamana will also be releasing its second-quarter financial and operational results after the market closes on July 29th. As we see, there are a lot of factors on the horizon for Yamana that could impact its popularity in the market in the near future. While recent momentum has been relatively stable, these events are exciting to consider and should be added to your calendar if you plan on watching AUY stock. With this in mind, do you think that Yamana Gold is worth keeping an eye on in 2021?
Datasea Inc. (NASDAQ: DTSS)
During pre-market trading, shares of DTSS stock shot up by a staggering 24% or so. YTD, shares of DTSS are up by around 45%. This is quite a large amount, especially considering the rest of the market during that time.
So, why did Datasea jump so significantly in value this morning? Well, early on July 14th, DTSS announced that its wholly-owned subsidiary, Shuhai Zhangxun Information Technology Co. Ltd., entered into six purchase and distribution agreements to provide its 5G Message-marketing Cloud Platform (5G MMCP) in China.
“Datasea’s research and development team has been making ongoing efforts to improve and strengthen our products as we believe a steady stream of improvements, diligently executed, will have transformational results.
Along with those efforts is our rapidly expanded distribution network nationwide, and I am very pleased to add six new district partners. We are also witnessing increasing demand and inquiries from customers and business partners about 5G MMCP.”
Liu Zhixin, CEO of Datasea
This is big news and something to consider especially as 5G takes over. Because this technology is still in the process of adoption, many investors are looking for tech penny stocks working in this niche. So, while today’s gain is relatively speculative, it is exciting for investors to consider. Whether it makes DTSS stock worth adding to your watchlist, however, is up to you.
Which Penny Stocks Are You Watching Right Now?
Investing in penny stocks in 2021 is all about understanding what factors are affecting the market right now. Because there are so many to consider, it can seem like a minefield at certain times. But, with the right research on hand and access to information, any investor can be just as informed as the pros. And, the best trader will always be the one with the most research available to them.
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So, if we consider everything currently going on in the stock market, we can begin to adjust our list of penny stocks to watch accordingly. With all of this in mind, which penny stocks are you watching right now?
