3 Penny Stocks to Add to Your List For Next Week
With an exciting week of trading penny stocks coming to an end, investors are equally excited about next week. Right now, there is a high amount of volatility with penny stocks and blue chips. This includes shares of Peloton Interactive Inc. (NASDAQ: PTON) dropping by over 30% in premarket today. On the flip side, we have companies like Pfizer Inc. (NYSE: PFE), jumping by over 10% in premarket on news that its Covid pill is highly effective at preventing death.
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So, yes there is both bullish and bearish sentiment in the stock market right now. And with so many factors to contend with simultaneously, it can be difficult to keep track of everything at once. But, by paying attention to the news and everything that is going on, it can be much easier to make money with penny stocks. Considering this, let’s take a look at three penny stocks to add to your watchlist next week.
3 Penny Stocks to Watch This Coming Week
- BIMI International Medical Inc. (NASDAQ: BIMI)
- My Size Inc. (NASDAQ: MYSZ)
- Express Inc. (NYSE: EXPR)
BIMI International Medical Inc. (NASDAQ: BIMI)
BIMI International Medical Inc. is a biotech penny stock that offers medical devices and pharmaceutical products. The China-based company distributes its medical devices via retail and wholesale channels. Some of the products offered by BIMI International are prescription and over-the-counter drugs, nutritional supplements, family care products, and much more. Many of its products are offered under the Lijiantang Pharmacy brand name.
In September, BIMI signed a stock purchase agreement to acquire Chongqing Zhuoda Pharmaceutical Co. Ltd. Chongqing Zhouda is a wholesale supplier of pharmaceuticals and medical equipment with more than 1220 pharmaceutical products. BIMI purchased all of the issued and outstanding equity interests in Zhouda for $11,617,500. 2,200,000 shares of common stock of BIMI valued at $6,600,000 were offered as partial consideration for the purchase.
“We are encouraged and excited about the planned acquisition of Zhuoda, as we believe this transaction will be transformative for our Company and our shareholders. Zhuoda has established long-term strategic cooperation with 14 local hospitals, which account for most of the grade A tertiary hospitals in East Chongqing. It will greatly boost Company’s local market expansion.”
Mr. Tiewei Song, the CEO and President of BIMI International
Up over 19% in the last month, will BIMI make your penny stock watchlist in November?
My Size Inc. (NASDAQ: MYSZ)
My Size Inc. is a trending penny stock that has seen a sizable amount of movement in the past few weeks. This is a company that focuses on the development and commercialization of mobile device body measurement solutions. These solutions are used for e-commerce, fashion, shipping, and more. The Israel-based company offers MySizeID, which is an app that allows consumers to make a profile of their personal measurements. This helps people get the right fit when purchasing clothing. Its BoxSize app is used for parcel measurement on customers’ mobile phones.
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On November 3rd, My Size penned an agreement with Threads, which is one of the leading uniform providers in the United Arab Emirates. Threads currently supplies products to 90 schools with over 200,000 students, as well as corporate institutions. My Size will use Threads size charts, product tables, descriptions, and more alongside its own technology. This will help enhance the online shopping experience and boost engagement levels according to the companies.
“Threads has been using traditional static uniforms sizing charts and experiencing higher than expected returns due to sizing issues. Our unique measurement technology based on sophisticated algorithms and cutting-edge technology is the perfect solution to improve their sizing efficiencies and lower their return rates, resulting in a better customer experience and cost savings for Threads.”
The CEO of My Size, Ronen Luzon
On the day of this announcement, MYSZ stock’s volume was more than average, and its price went up in the market. Considering this information, does MYSZ stock deserve a spot on your list of penny stocks to watch?
Express Inc. (NYSE: EXPR)
Express Inc. is a retail penny stock that has climbed by around 9.5% in the past five days and over 350% YTD. Many United States readers will recognize this company, as it has stores in many shopping malls around the country. Express is an apparel and accessory-based retail store with more than 570 stores across the U.S. and Puerto Rico. Express has been performing well in the market as shopping malls are seeing increased traffic amid lower COVID-19 cases in many parts of the U.S.
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The latest update from Express comes from October 19th, 2021. This is when the company announced that its CFO Perry Pericleous would be departing. Percleous’ departure will go into effect on November 12th, and President and COO Matthew Moellering will be the Acting Interim CFO. Position changes in a company can often have an effect on where the company goes in the future. Every executive will have a different leadership style, and therefore, changes could be implemented. For this reason, it’s important to pay attention to announcements like these.
“I want to thank Perry for his many years of service to Express, his support in helping to advance the EXPRESSway Forward strategy, and the important role he played in partnership with Matt to strengthen the Company’s liquidity position and secure the financial health of the Company throughout the pandemic.”
The CEO of Express, Tim Baxter
In addition to this, the company announced during premarket on Friday that the famed fashion personality, Rachel Zoe, will lead become the lead style editor of its e-commerce effort. This is big news, and should help the company to move further into the online shopping world. Considering all of this, will EXPR be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy can be challenging with so much going on in the market. However, because there are so many factors impacting penny stocks, there is plenty of momentum to take advantage of.
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With a proper trading strategy and a commitment to understanding where there could be value, trading penny stocks can be much easier than previously imagined. Considering this, which penny stocks are you watching right now?
