Are These 3 Penny Stocks on Your List Right Now?
Making a list of the best penny stocks to buy right now? Well, there are a few things to consider before investing. First and foremost, investors need to understand exactly where the market is headed. And to do so, we need to take a look at what factors are in play right now. The first and most obvious is Covid.
While many thought that we may have been out of the woods just a few weeks ago, rising cases have completely shifted this in the other direction. And now, in late August, penny stocks and blue chips are both responding to this changed market trajectory. As a result, investors are picking both penny stocks that could benefit from the pandemic and those that are more stable right now. This is a common strategy used to hedge bets against market uncertainty.
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Second, there is a lot of fear in the stock market right now surrounding the short term. This is a result of geopolitical factors at play, economic inflation, and as it relates to the pandemic, widespread feelings of uncertainty.
So while there are many days of sizable gains, there are plenty more when the market is trading flat. But, because penny stocks don’t like to play by the rules, there is often value to be had even when the general market is down. So, with all of this in mind, let’s take a look at some of the best penny stocks to watch in late August.
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3 Penny Stocks For Your Late August Watchlist
- Inuvo Inc. (NYSE: INUV)
- NanoVibronix Inc. (NASDAQ: NAOV)
- Sphere 3D Corp. (NASDAQ: ANY)
Inuvo Inc. (NYSE: INUV)
Inuvo Inc. is a communications penny stock that is moving upwards in the market. In the past six months, shares of INUV stock have increased by around 55%, which is no small feat. If you’re unfamiliar, Inuvo is a tech company that utilizes artificial intelligence to design products for consumers.
In addition, it develops brand strategies and works with agencies, advertisers, and more to build businesses. Its platforms identify and message digital audiences for products and services. As an interesting player in the tech industry, Inuvo continues to be on many investors’ watchlists.
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On August 12th, the company reported its second-quarter results for 2021. In these financial results, the company announced a revenue increase of 66% year over year. The company also increased its prospect presentations and deals won for its IntentKey product 56% and 70% respectively.
“Revenue for the second quarter was strong across each of the IntentKey and ValidClick product lines both year-over-year and sequentially. During Q2 the IntentKey performed 74% better than our client’s goals and its 50% year-over-year and 37% sequential growth are indicative of those results.”
CEO of Inuvo, Richard Howe
This announcement shows significant progress and recovery for Inuvo after the pandemic impacted the company early on in the year. Now in 2021, the company’s stock price has gone up significantly on the company’s overall progress. With this to note, is INUV a contender for your penny stocks watchlist?
NanoVibronix Inc. (NASDAQ: NAOV)
NanoVibronix is a company that has continued to make headlines for its gains in the past few weeks. In the past month alone, shares of NAOV stock have shot up by a more than staggering 350%. As a provider of healthcare products, NanoVibronix leads the industry in the field of Surface Acoustic Wave Devices.
This includes both its UroShield and PainShield devices which utilize this technology for respective indications. On Monday, August 16th, NanoVibronix provided its second quarter 2021 financial results alongside several business updates. In the results, the company stated that its revenue increased by 18% with almost $5.7 million in cash on hand.
“We made great strides in the first half of 2021, accelerating our progress towards full commercialization of our products with expanded distribution, clearance of regulatory approvals, the launch of PainShield Plus and the planned launch of PainShielf RELIEF, which is expected to be available over-the-counter, significantly expanding our addressable market.”
The CEO of NanoVibronix, Brian Murphy
This is all big news for the company and shows why so many investors are paying attention to it right now. On Monday, August 16th, shares of NAOV stock shot up by over 30% in trading, indicating its high volatility and overall bullish sentiment. Considering this, will NAOV stock be on your list of penny stocks to watch right now?
Sphere 3D Corp. (NASDAQ: ANY)
In the past month, shares of ANY stock have increased by over 80% and YTD, by over 190%. This is the result of the markets that Sphere 3D is exposed to as well as the company itself. Before we get into its recent events, let’s talk about what Sphere 3D does. This company has a variety of brands that together, work to support IT goals for its customers.
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This includes its HVE ConneXions, Unified ConneXions and SnapServer brands. Around two weeks ago, Sphere announced that it entered into a contract with Hertford Advisors Ltd. to assume the letters Bitcoin mining agreements.
“This is a significant milestone for Sphere 3D as we look to the future. We are pleased to have the opportunity to place Sphere 3D as a leader in the space with state-of-the-art miners, in a very competitive market where time to delivery is paramount.
We continue to look for ways to increase shareholder value while remaining true to our commitment to ESG principles. We believe that this series of transactions could have significant revenue and cost synergies across our value chain.”
Peter Tassiopoulos, CEO of Sphere 3D Corp.
With its new role in the cryptocurrency industry and with Bitcoin specifically, ANY stock is subject to the ups and downs of the crypto world. However, this could be a big announcement for investors to consider moving forward. With this in mind, will ANY stock make your watchlist this month?
Why Are Penny Stocks So Popular Right Now?
In 2021, penny stocks are some of the most popular choices for investors of all types. This is the result of their swift market moves and the constant momentum that they see. While not all penny stocks have long-term value, it is worth doing the research to find the ones that could. With all of this in mind, it’s no wonder that penny stocks are so popular right now.
