Are These 3 Penny Stocks on Your Watchlist in 2021?
So far in 2021, penny stocks have been on fire. Despite the last two to three months with high volatility, overall this year has been quite good to investors. But, with Covid still around and fears of economic inflation high, there is a lot of volatility in the stock market.
However, if you have a solid trading strategy and a thorough understanding of the market, making money with penny stocks right now can be done. While volatility with blue chips may be a downside, with penny stocks, large fluctuations are one of the ways that investors benefit. And while it is easy to get caught up in hype and speculation, doing the proper research will always put you ahead of the rest.
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Because of the speculative nature of penny stocks, investors should always be watching the market and the news. Events no matter the size can have a swift and direct impact on how penny stocks trade. And for this reason, investors should understand both company-specific and industry-specific happenings. Considering all of this, let’s take a look at three penny stocks that you need to know about right now.
3 Penny Stocks to Watch in October 2021
- Trivago (NASDAQ: TRVG)
- Camber Energy Inc. (NYSE: CEI)
- Transocean Ltd. (NYSE: RIG)
Trivago (NASDAQ: TRVG)
Travel stocks have felt the pressure from lasting effects of the pandemic over the last 18 months. However, with new vaccines hitting the market and CDC support for additional booster shots, hopes are high that things are set to turn around. With that, everything from airlines and cruise stocks to booking sites like Trivago are coming back into focus.
Earlier this week, the US was the latest to ease travel restrictions on fully vaccinated foreign visitors. Though the new rules won’t take effect until November, the optimism that has stemmed from it quickly translated into the stock market. In fact, looking at the last two days of trading for TRVG stock shows this to be the case. Since September 23, Trivago shares have bounced back just under 16% so far.
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If you’ve followed TRVG stock for the last few months you may recall some of the comments made in their Q2 earnings. In particular, the company expressed that August and September could be more volatile months. However, they do see strong demand recovering when weighing the outlook for the year. With reopening continuing, TRVG could be on the list of penny stocks to watch heading into the end of the quarter.
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is an energy penny stock that we have discussed plenty of times in the past few weeks. And with major speculation and the influence of social media, shares of CEI have skyrocketed by over 390% in the past month. Again on September 24th, shares of CEI bounced up by around 5% by EOD. If you haven’t heard of Camber Energy before, let’s catch you up. Camber is an oil and gas company that acquires and develops various properties in the United States. The company then sells products from its properties including crude oil, natural gas, and natural gas liquids.
On August 24th, the company secured an exclusive IP license for a patented carbon-capture system. This deal was done by its subsidiary Viking Energy Group Inc., and the IP license was secured from ESG Clean Energy LLC. The ESG Clean Energy System license is exclusive for all of Canada and non-exclusive for up to 25 locations in the United States. The system can generate clean electricity from internal combustion engines while capturing about 100% of the CO2 emitted from it 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 September 24th, CEI’s stock climbed more than 20% in intraday trading before ending the day at around 5% up. It’s worth noting that the company’s volume is more than double its average at the moment as well. With all of this in mind, will CEI be on your list of penny stocks to watch?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a penny stock that’s pushed up by more than 7.9% in the past five days. This company offers contract drilling services offshore. The drilling services Transocean offers are for oil and gas wells. Transocean contracts drilling rigs, equipment, and work crews for drilling these wells. This company currently owns or has an interest in 37 mobile offshore drilling units. This includes 27 ultra-deepwater floaters and 10 harsh environment floaters. Lastly, Transocean is constructing two ultra-deepwater drillships right now.
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On August 26th, Transocean secured a $252 million contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas. This transaction includes a mobilization fee of $30 million. This contract also provides for a significant performance bonus opportunity based on agreed operating metrics. When the initial drilling program ends, a 20,000 psi BOP will be installed on the rig. This will make it Transocean’s second asset with a 20,000 psi-rated well control system.
“We are very encouraged by the growing list, across multiple customers, of 20,000 psi opportunities in the U.S. Gulf of Mexico. And, with the only two assets in the world specifically designed to maximize efficiencies for 20,000 psi well completions, we are the undisputed market leader in this space, and thus excited about the future prospects for these state-of-the-art assets.”
President and CEO of Transocean, Jeremy Thigpen
Since this announcement was made, RIG stock has gone up in the market. Keeping this in mind, will RIG make your penny stock watchlist?
Which Penny Stocks Are You Buying Right Now?
Finding the best penny stocks to buy in 2021 is all about understanding where the market is headed. By looking at the news and current events, investors can gain a thorough understanding of where the market may be headed. Considering this, which penny stocks are you buying right now?
