Are These 3 Penny Stocks On Your Watchlist This Week?
When it comes to the best penny stocks to buy, it doesn’t just need to be based in any single country’s market. And for North America, the markets for cheap stocks are some of the most active. They’re also some of the best places that investors have found hidden gems that have ended up becoming big companies later on.
There is no key to finding penny stocks that become industry leaders but there are a few things to keep in mind when deciding which penny stocks to watch. First and foremost, what has the company been announcing?
Does it show valid progress that the company is pushing ahead to drive revenue growth? Furthermore, it’s important to keep track of corporate filings and make sure companies are up to date. Finally, some use a rule of thumb to focus on penny stocks in certain growth driven sectors.
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Lately, a big focus has been on technology, cannabis, and even biotech. These 3 industries are known for volatility but are also known for producing true, growth companies. This having been said, let’s take a look at 3 Canadian penny stocks to watch this week.
Canadian Penny Stocks To Watch #1: Liberty Defense Holdings (TSX: SCAN) (OTC:LDDFF)
One of the few pure-play weapons detection stocks to watch has been Liberty Defense Holdings (SCAN Stock Report) (LDDFF). This morning the company announced that its collaboration with TUV SUD America. Through the collaboration, TUV SUD will work with Liberty Defense to develop processes that will ensure that its HEXWAVE product will meet FCC standards.
This is a big step for any company dealing with detection technology. But more importantly for Liberty, this comes as a timely collaboration as the company is in the middle of several beta testing projects.
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The company announced last week that it signed an agreement with the Metro Toronto Convention Centre for HEXWAVE beta testing. This comes after Liberty has reported testing with the likes of the Rogers Arena, the state of Utah, and Sleiman shopping centers. Maryland Stadium Authority’s Camden Yards Complex and FC Bayern Munich’s Allianz Arena are also testing HEXWAVE.
The product is a discrete, modular detection product that ID’s potential urban threats with active 3D radar imaging and AI. It can detect metallic and non-metallic threats as well. This is somewhat of a unique product as most other competitors rely solely on X-ray technology alone.
Canadian Penny Stocks To Watch #2: Namaste Technologies Inc. (TSX: N) (OTC: NXTTF)
Marijuana stocks are back in focus heading into October. Canada will be formally legalizing cannabis derivative products like beverages and extracts. Namaste Technologies (N Stock Report) (NXTTF) caught attention on Monday morning. The company announced last week that it had expanded its CannMart.
This came as the company signed a sales and marketing agreement with CannTX Life Sciences. Under the agreement, CannTX will launch and sell its flagship medical brand under CannMart’s consignment sales model.
Despite the penny pot stock being beaten down for most of the year, Namaste has been able to enjoy a much stronger month of September. After starting the month around CA$0.46, shares jumped as high as $0.71. As the 3rd quarter comes to an end and October’s new deadline approaches, Namaste could be one of the Canadian penny stocks to watch this week.
Canadian Penny Stocks To Watch #3: Reliq Health Technologies (TSX:RHT) (OTC: RQHTF)
No list of penny stocks would be complete without a health-related name. Reliq Health Technologies (RHT Stock Report) (RQHTF) Has opened the week strong. In fact, RHT stock has been trending higher ever since mid-June of this year. Reliq was trading as low as CA$0.17 and has since increased to highs of CA$0.51 on September 30.
Earlier this month the company announced new contracts with health agencies in Texas. “With these five new contracts, Reliq continues to build on our momentum in Texas. All five of these new clients have either already begun onboarding patients to our iUGO Care platform or will go live by the end of this month,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies Inc. This news follows a previous series of announcements for new contracts throughout the state during the 3rd quarter.
