Are These Penny Stocks Worth Watching This Week?
With another week of trading penny stocks and blue chips almost here, there are hundreds of options to choose from. But as traders, it’s our job to find the best penny stocks to buy for both the greatest chance of profitability and for our own investing style. As a result of the sheer number of factors impacting the stock market right now, there is plenty of momentum to take advantage of.
But, knowing where to look and how to make money with penny stocks, is where it gets interesting. When it comes to trading, there are two main schools of thought. On one hand, we have those who look for undervalued companies with the potential to take off. These individuals usually invest in long-term time frames and find stocks that could benefit in months or even years.
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On the other hand, we have short-term or swing traders. These are traders that capitalize on short-term price movements within a matter of minutes, hours, or a few days. While one strategy is not better than another, it’s best to understand which type you are before investing. Considering all of this, let’s take a look at three hot penny stocks to watch this week.
3 Penny Stocks to Watch This Week
- Artelo Biosciences Inc. (NASDAQ: ARTL)
- Baosheng Media Group Holdings Limited (NASDAQ: BAOS)
- Senseonics Holdings Inc. (NYSE: SENS)
Artelo Biosciences Inc. (NASDAQ: ARTL)
Artelo Biosciences Inc. is a biotech company that produces treatments to modulate the endocannabinoid system. It focuses on the development and commercialization of these products. Its ART27.13 product is in Phase 1 clinical trial to treat anorexia associated with cancer. It also has ART12.11 for treating patients that have PTSD.
Back in August, the company released study results comparing the pharmacological effects of plant-derived versus synthetic cannabidiol in human cell lines. The study found no in-vitro pharmacological difference in the antiproliferative, anti-inflammatory, or permeability effects of purified natural vs. synthetic CBD.
“Since this study did not find pharmacologic differences among the CBD compositions, we believe that it is the biopharmaceutical properties that have the greatest potential to differentiate CBD products. Our CBD cocrystal should contribute to improved consistency, absorption, bioavailability, processability, and stability. These properties, in turn, may lead to a product candidate with better efficacy and safety.”
The President and CEO of Artelo, Gregory D. Gorgas
In the past five days, shares of ARTL have climbed by more than 60%. This is a very sizable gain and reflects both the company and the environment on biotech stocks right now. With this info in mind, will ARTL make your penny stock watchlist?
Baosheng Media Group Holdings Limited (NASDAQ: BAOS)
Baosheng Media Group Holdings Limited is a China-based company that offers online marketing solutions. This company connects advertisers and online media for its customers. This allows advertisers to manage online ad activities with multiple channels, procurement of inventory, optimization services, and more. It also offers search engine marketing services, such as deploying ranked search ads and other display search ads.
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On September 30th, the company reported its financial results for the first half of 2021. The company reported revenues that were less than stellar alongside a gross loss, and a drop in its income from operations. Although these results seem bad, the company expects to perform better as COVID-19 cases fall in the coming months. Despite this, shares of BAOS stock have spiked by around 14% in the past month.
“In the first half of 2021, with the sporadic occurrences of COVID-19 cases and the implementation of stricter prevention controls to prevent further spread of COVID-19, the Company’s business was under significant pressure and the operating results declined, as the domestic travel market and consumer market both experienced reductions.”
The Chairwoman and CEO of the company, Ms. Wenxiu Zhong
After looking at the results, it may seem tough to view BAOS stock as a penny stock to watch. However, the company does have an interesting business model that could benefit from reopening. The time frame in which this could occur and the amount that it could expect to gain remain unknown. But if you’re looking for an interesting penny stock that does experience spikes (and drops), BAOS stock could be worth watching.
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech corporation that offers continued glucose monitoring systems. Its Eversense and Eversense XL products are currently available in the United States, Europe, the Middle East, and Africa. Eversense is an implantable CGM system that uses an under-skin sensor and a removable and rechargeable smart transmitter to assess glucose levels. Its app offers diabetic patients real-time monitoring and control for 90 to 180 days. These goods are sold to patients by healthcare providers through a network of distributors.
Its latest update comes from September when it announced a collaboration with the University Hospitals Accountable Care Organization in Cleveland, Ohio. This collaboration was made so UHACO can offer the Eversense CGM system to Medicare enrollees. The next update from Senseonics will be its third-quarter 2021 earnings which will be released on November 9th. The report will be released on this date after the market closes. It will then hold a conference call to discuss the numbers.
It’s worth noting that diabetes is a condition that affects millions around the world. And, the current solutions for glucose monitoring involve invasive and cost-prohibitive methods. So, to produce a cost-effective and non-invasive solution would effectively change the way that glucose is monitored. And what’s even more is that Senseonics is already in the commercialization process with these products. While many biotech companies spend years developing a product to sell, SENS is already there. So, ahead of this big update and considering the potential that Senseonics could have, will it be on your list of penny stocks to watch?
Which Penny Stocks Are You Buying This Week?
Finding the best penny stocks to buy all comes down to knowing where to look. And with the right research and a commitment to understanding how to trade penny stocks, making money with small caps can be much easier.
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If we consider that there are so many factors impacting the stock market right now, we see that there is a lot to take advantage of. With that in mind, which penny stocks are you buying this week?
