penny stocks to watch right now

Penny Stocks To Watch If You’re Looking At Tech Right Now

You already know penny stocks are volatile. That’s probably why you’ve chosen to look for them in the first place. These cheap stocks can be barely trading one minute and then the next, they see an explosive move. Last year was a great one for penny stocks but this year is something we haven’t seen in a long time. There’s always been something to be said about “10 baggers”. Let me explain why.

These are considered breakout moves that see price jumps of 1,000% or more. While thought of as elusive, this year was definitely different as far as “10 baggers” are concerned. It has become an almost weekly occurrence that some penny stocks explode hundreds and even thousands of percentage points within a matter of days, if not hours.

It doesn’t seem to matter how trading was previously. One piece of big news or research note can act as a game-changing catalyst. We even saw an example of this today. In an earlier article, we discussed Equillium Inc. (EQ Stock Report). This was a stock that barely traded. When I say barely, I’m talking less than 10,000 shares per day at times. In all likelihood, there’s a slim chance that many had even come across this company before.

[Read More] 4 Penny Stocks To Buy Right Now According To Analysts

Yet on Monday, the penny stock traded more than 100 million shares. Yes, the same stock that had an above-average volume day on Friday with roughly 48,000 shares traded, saw that figure jump by. over 2,000 times on July 13th. So what’s the point? My point is this, if you like penny stocks, always be on the look-out for things that could become catalysts. But also remember that you’re in this market to make money so make sure you’re taking profits along the way. One of the hottest sectors right now is tech. With this in mind will any of these technology penny stocks be on your list this week?

Esports Tech Penny Stocks To Watch: Fandom Sports

Fandom Sports (FDMSF Stock Report) (FDM) is positioning to take advantage of multiple facets of the emerging Esports industry that’s already starting to outpace the broader market. The forward-facing brand is built with a focus on being an agnostic fan engagement platform for Super Fans globally. By providing localized content and “hyper-gamification,” Fandom Sports looks to become the go-to platform for Super Fans to connect and get rewarded.

 Fandom recently announced that the English version of the all-ages Esports app is currently being Beta tested by strategic advisors. Fandom said it will be adding game titles like League of Legends, Dota 2, Counter-Strike: Global Offensive, Tom Clancy’s Rainbow Six: Siege, StarCraft II, NBA 2K20 and Valoran among others.

Adding to this, Fandom built upon its iGaming arm. Specifically, Fandom reported that it formed a Curaçao subsidiary; Fandom Esports Curaçao N.V. It will be applying for an Esports gaming license which is a pre-requisite for global Esports wagering and 18+ iGaming. The license when approved will enable fantasy, pools, fixed odds, and exchange style wagering on Esports events.

The long and short of it is the video game and Esports space continues to grow. With more people staying home and honing their gaming skills, they’re also looking to “the pros” and learning new skills. Much like earlier generations watching their favorite athlete on TV score a game-winning shot, today’s athletes are wearing headsets and sitting in front of a computer screen. What’s more, is Goldman Sachs expects Esports revenue to top $3 billion by 2022. Considering that figure was only $655 million in 2017, the bank expects 916% revenue growth over this period.

tech penny stocks to watch Fandom Sports (FDMSF stock chart)

Medical Tech Penny Stocks To Watch: SiNtx Technologies Inc

SiNtx Technologies Inc. (SINT Stock Report) has steadily climbed ever since late March. As I discussed above, penny stocks can experience consistent moves. In fact, from March 19th to June 22nd, SINT stock made a move of over 1,000%. June saw SINT stock reach highs of $3.13. But as with many large moves, consolidation is what active traders look for next. Watching to see how far a stock pulls back and if or when it establishes a new level of support. It seems that since reaching those 52-week highs, SINT stock has held a “line in the sand” around $1.50 for the last few weeks.

On June 20th, SINTX reported a coronavirus-related update. The company announced that in a controlled laboratory study, the SARS-CoV-2 virus was inactivated when exposed to SINTX’s sintered silicon nitride powder. The company also announced the publication of study results from its silicon nitride. Specifically, SINTX reported positive testing results that showed anti-viral properties that could reduce the spread of COVID-19.

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Fast-forward to this week and there’ve been a few financing updates. The company also filed a statement for its annual meeting. One of the main topics to vote on is to approve a redomicile of the company from Delaware to Nevada. But with the annual meeting set for August, what might have been a catalyst for the recent surge in momentum for SINT stock? Well, one of the obvious topics of discussion is COVID-19 right now. So could SINT have simply gotten caught up in the coronavirus momentum at the start of the week?

tech penny stocks to watch SINTX Technologies (SINT stock chart)

Education Tech Penny Stocks To Watch: Boxlight Corporation

Once again, Boxlight Corporation (BOXL Stock Report) is on a list of penny stocks to watch. We discussed the company over the weekend as well. The main highlight is on its education technology platform.

Boxlight provides technology solutions for the global education market. As we’ve seen, stay at home orders have caused parents to focus on education for their children in an “at-home” setting. That would mean more reliance on technology right now. Last month Boxlight announced the release of MimioConnect. This is its cloud-based teaching and learning platform that helps teachers streamline lesson delivery in remote and blended classrooms.

tech penny stocks to watch Boxlight Corporation (BOXL stock chart)

This week has already seen a firestorm of controversy due to coronavirus cases growing. As it pertains to Boxlight and other Ed-Tech companies, the concerns to reopen schools are continuously increasing. Schools in California’s two largest districts including Los Angeles Unified and San Diego Unified won’t reopen for in-person learning when the school year begins next month. This has triggered more interest in education technology companies.

The same thing might go for Color Star Technology Co., Ltd. (HHT Stock Report). It too saw shares climb this week. The company offers online and offline education services. Last week, Color Star announced a Framework Agreement with Moremoon Cartoon Cultural Diffusion (Shenzhen) Co., Ltd. Among several initiatives, the company looks to offer multiple varieties of products on its “Color World” Platform.

“Management aims to build the Color World platform to be very different from the traditional online education offerings; it will not only feature online classes taught by our “Star Teachers,” whom are renowned and successful professionals in various fields of the entertainment and media industry, but also sell relevant peripheral products of our Star Teachers as well as brand collaboration products,” the company said in a press release.

tech penny stocks to watch Color Star Technology Co., Ltd. (HHT stock chart)
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