3 Penny Stocks Under $4 For Your Watchlist Right now
If you’ve traded penny stocks in 2021, you’re likely used to the high degree of volatility that has become commonplace in the stock market. But, penny stocks also present a great opportunity to capitalize on short or long-term gains.
At under $5 per share, penny stocks offer the potential for high returns (and losses) without the major capital requirement that blue chips often need. If you hear the term penny stocks and are afraid at the thought of investing in them, there are a few things to understand. While penny stocks can be risky, the term itself simply refers to any stock trading under $5.
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Because of the price point, these stocks are known to be quite volatile, often moving in double or triple-digit percentage points on any given trading day. And although this may seem scary at first, this is the main reason why many investors choose to buy penny stocks. But, those who do, do not come without a strategy and a large quantity of research on hand. Having a strategy and research are the two most important aspects when it comes to investing in penny stocks.
On one hand, a strategy will help you to consistently invest in stocks that suit your portfolio and investing style. And on the other hand, research will help to make sure that you know exactly what you’re investing in. Considering all of this, let’s take a look at three penny stocks to watch that are under $4 right now.
3 Under $4 Penny Stocks For Your October Watchlist
- Senseonics Holdings Inc. (NYSE: SENS)
- Ebang International Holdings Inc. (NASDAQ: EBON)
- Sio Gene Therapies Inc. (NASDAQ: SIOX)
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech company that produces a range of continuous glucose monitoring (CGM) systems. These systems are designed and made for those with diabetes and are sold in the U.S., Europe, Middle East, and Africa. Senseonics is involved in the development and commercialization of these products. Its product lineup includes the Eversense and Eversense XL devices. These are implantable CGM systems used to measure glucose levels in those with diabetes using an under-the-skin sensor and more. Currently, the main method of testing glucose for patients is invasive and inefficient. However, SENS’ systems allow for fast, smart-phone integrated monitoring of one’s glucose levels.
In September, the company announced a collaboration with the University Hospitals Accountable Care Organization (UHACO) in Ohio. This means that UHACO is now offering Eversense CGM Systems to its Medicare enrollees. The program allows for those with either type of diabetes, to utilize the Eversense system. Announcements like these are important in the biotech industry as they allow for heightened collaboration and research. In addition, it gets the word out about a product on a larger scale than without it.
“Eversense offers patients choice amongst continuous glucose monitoring devices. The Eversense CGM system delivers industry-leading accuracy, an improved patient experience, and an array of unique features that afford people, especially those in the Medicare population, the opportunity to achieve improved health outcomes.”
The Head of Endocrinology and Diabetes at UHACO, Betul Hatipoglu
In the past few days, shares of SENS stock have been moving upward. It’s also worth considering SENS 280% and 850% gains in the past YTD and twelve-month periods. With these new developments and its major gains in mind, will SENS stock be on your watchlist?
Ebang International Holdings inc. (NASDAQ: EBON)
Ebang International Holdings Inc. is a penny stock that has pushed up by over 14% in the past five days. If you’re unfamiliar, this company offers Bitcoin mining machines and integrated circuit chips. Additionally, Ebon provides mining machine hosting services for customers to operate mining machines remotely. Ebang also researches manufacturers and sells fiber optical telecommunication products. Its Bitcoin mining machines are offered under the Ebang brand name.
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On October 1st, the company provided its unaudited financial results for the first six months of fiscal year 2021. During this period, Ebang’s net revenues totaled $18.30 million, which was a year-over-year increase of 65.69%. Its gross profit was $5.64 million compared to a gross loss of $0.97 million during last year. Additionally, the company’s net loss has been significantly reducing year over year.
“Over the past few years, the Company has been focusing on the research and development and sales of Bitcoin mining machines. However, this business is susceptible to the impact of macro and microenvironments such as global political and regulatory attitude toward cryptocurrency in general, economic competitions, chip production capacity, and supply.”
The CEO and Chairman of Ebang, Mr. Dong Hu
In the past few trading days, EBON’s volume has been much greater than its market average. This is a solid indicator that it is trending right now. So will EBON be on your list of penny stocks to watch?
Sio Gene Therapies Inc. (NASDAQ: SIOX)
One of the bigger gainers of the day so far is SIOX stock, pushing up by almost 21% at midday. While many sizable gains like this occur without reason, the company did make an exciting announcement today.
Before we get into it, it’s worth considering that news will always be the main driver of price movement with penny stocks. And nowhere is this more evident today than with SIOX. During pre-market, the company announced that the U.S. FDA has granted it Fast Track Designation for its AXO-AAV-GM1 compound, which is a gene therapy. This therapy works to treat Type 1 and Type 2 GM1 gangliosidosis.
“Receiving Fast Track Designation is a critical step in our mission to develop the first potential treatment for all pediatric forms of this rare terminal disease. This designation joins both the Orphan Drug Designation and Rare Pediatric Disease Designation assigned to AXO-AAV-GM1 by the FDA, which we believe further demonstrates the potential impact of this work on the patient community.”
The CEO of Sio Gene Thaepies, Pavan Cheruvu, M.D.
This is a big deal for the company and will allow it to move forward with future testing and commercialization down the line. With biotech stocks, it’s all about FDA approvals. And with this announcement in mind, SIOX stock could be worth keeping a close eye on.
Can Penny Stocks Continue to Make Gains?
Finding the best penny stocks to buy is a careful balance between your individual trading goals and the amount of research you’re willing to put in. With so many penny stocks out there, it can be challenging to find the best ones for your list.
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However, the traders that are the most dedicated to finding out information, tend to be the ones with the best chance of making money with penny stocks. Considering all of this, do you think that penny stocks can continue to make gains?
