3 Penny Stocks to Watch in the Second Half of October 2021
After a less than stellar month of trading penny stocks in September, October has brought with it a higher degree of bullish sentiment. And while we don’t know just how long this bullishness will remain, we do know that it’s worth taking advantage of in the meantime. To understand how to make money with penny stocks in 2021, investors need to have a thorough understanding of the current market conditions.
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Right now, we have to consider inflation, Covid, and the general air of uncertainty in the stock market. This uncertainty is illustrated by the sizable volatility we witness on a daily basis. Additionally, we can consider which industries could benefit from the current state of the stock market. This includes biotech penny stocks, reopening penny stocks, tech stocks, and energy penny stocks. These are just a few industries that have been trending over the past few weeks.
As always, it’s important to consider that penny stocks are not for everyone. Because they can be so volatile, many investors choose to find more stable stocks to buy. But, those who are looking to take advantage of short-term price movement, often turn to penny stocks for that purpose. So, considering where the economy and stock market are in October 2021, let’s take a look at three hot penny stocks to watch in the second half of the month.
3 Hot Penny Stocks For Your Mid-October Watchlist
- Tellurian Inc. (NASDAQ: TELL)
- Kosmos Energy Ltd. (NYSE: KOS)
- Grom Social Enterprises Inc. (NASDAQ: GROM)
Tellurian Inc. (NASDAQ: TELL)
Tellurian Inc. is an energy penny stock that managed to climb by almost 6% on October 14th. For some context, this company operates in the natural gas industry. Currently, Tellurian is developing a portfolio of natural gas production, liquefied natural gas marketing, and infrastructure assets. These assets include a 27.6 tons per annum LNG terminal facility and an associated pipeline in Louisiana.
Tellurian’s latest financial results were reported in August for the second quarter. The company ended this quarter with $11.9 million in cash and cash equivalents, as well as no borrowing obligations. The company has a balance sheet with $328.2 million in total assets. During the second quarter, Tellurian produced $5.6 million in revenues from natural gas sales. All of these numbers are quite positive for the company, and show solid signs for investors to consider.
“Tellurian’s strengthened balance sheet and commercial success, combined with supportive market fundamentals, enable Driftwood’s continued progression. We exercised our long-term lease option with the Port of Lake Charles and have started on owner’s projects for site preparation.”
The President and CEO of Tellurian, Octavio Simoes
In the last six months, shares of TELL stock have shot up by over 95% and YTD by more than double that. With this in mind, will TELL stock make your penny stocks watchlist in October?
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an oil and gas company based in the United States. The company focuses on exploration and production along the Atlantic Margins. Some of Kosmos’ operating locations include offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico. The company has additional offshore developments in Mauritania and Senegal as well.
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On October 13th, Kosmos announced that it has acquired additional interests in Ghana. The company acquired these assets at a compelling valuation with significant enhancement to its five-year plan. Kosmos acquired an 18% interest in the Jubilee field and an 11% interest in the TEN fields in Ghana from Occidental Petroleum. The total purchase price for the interests was $550 million.
“This is a compelling transaction for Kosmos that accelerates our strategic delivery and is expected to provide long-term sustainable cash flow from fields where we have a deep understanding of the value and future upside.”
Chairman and CEO of Kosmos Energy, Andrew G. Inglis
On October 14th, shares of KOS stock shot up by over 8.9%, bringing its one-month gain to almost 40%. The company’s volume is also more than three times its average on October 14th which is worth considering. Considering this, will KOS be on your list of penny stocks to watch?
Grom Social Enterprises Inc. (NASDAQ: GROM)
Grom Social Enterprises Inc. is a communications company that offers a variety of services. Primarily, Grom focuses on media, technology, and entertainment content in the United States. Grom operates a social media network targeted at children under the age of 13 years old. Additionally, the company produces animated films, television series, and provides web filtering to schools and government agencies.
On October 7th, the company’s wholly-owned subsidiary Top Draw Animation commenced production on $1 million in new projects at various studios. These assignments are two recurring episodic animated TV series, which have not yet been disclosed. Currently, Top Draw Animation has over 400 artists in its Manila studio in the Philippines.
“Programmers rely heavily on their animated series and Top Draw Animation is prepared and energized to help entertainment companies around the world bring this visually rich brand of storytelling to life. We currently have hundreds of animation experts and artists focused on feeding the growing demand for animated entertainment.”
The President of Top Draw, Russell Hicks
In the last month, GROM stock has increased by over 58% with a YTD gain of almost 120%. These numbers are quite substantial, and show why so many investors are interested in GROM stock. Right now, entertainment remains a budding industry considering the pandemic’s effect on at-home content. So, with all of this considered, will GROM stock make your penny stock watchlist right now?
Which Penny Stocks Are on Your Buy List?
Buying penny stocks in 2021 is all about considering what’s going on in the world. Because penny stocks are highly speculative, company and industry-specific events are extremely important to pay attention to.
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These events can help to tell you what type of movement a penny stock may see. And if you know where the movement is, making money with penny stocks can be much easier. So, considering all of this, which penny stocks are on your buy list in October 2021?
