Can These 5G Stocks Continue Seeing Bullish Interest?
While 5G technology is still in the early stages, there is already a great deal of infrastructure that supports the industry. This has lead to a stronger focus on some of the penny stocks in the arena. No matter what happens in the election, 5G stocks are in a solid position to potentially see long term growth. This is because it is without a doubt, a groundbreaking technology that could change the digital ecosystem. On October 13th, Apple Inc. (AAPL Stock Report) announced the iPhone 12 which would come with 5G capabilities. Although it has only been a month since its launch, investors and consumers alike have become enamored with 5G technology.
James E. Prieger, a professor at Pepperdine University states that “5G will be an important driver of economic growth in the nation. Investment to create 5G networks contributes directly to GDP, and $225 billion in capital expenditure will be needed over the next seven years or so to fully deploy 5G. However, this direct effect on GDP is only a small part of the total economic effects of broadband in general and 5G in particular.”
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While Apple is one of the most well-known companies in tech, there are plenty of businesses that either support 5G or are working to do so. This support can be seen through the building of infrastructure or 5G capable devices. Regardless, with such a new market, 5G stocks continue to attract investor attention. With this in mind, let’s take a look at four 5G penny stocks to watch for November 2020.
5G Penny Stocks To Watch For November 2020
- Nokia Corp. (NOK Stock Report)
- UTStarcom Holdings Corp. (UTSI Stock Report)
- Globalstar Inc. (GSAT Stock Report)
- Vislink Technologies Inc. (VISL Stock Report)
5G Penny Stocks to Buy [or avoid]: Nokia Corp.
Nokia Corp. is a company that has been in the tech industry for many years at this point. After hitting a high of $57 back in 2000, shares have since dropped down to around $3.52 as of Friday, November 6th. Since March of this year however, shares of NOK stock are up by around 40%. So, what’s driving the renewed bullish interest in NOK stock? Well, the short answer is that the company has been working to become a big player in the 5G industry. In the past few months, the company has secured several big name contracts for 5G services around the world. While Nokia has had to fight other industry leaders like Huawei and Ericsson (ERIC Stock Report), it is finding its own space in the market.
With major telecom companies investing big in 5G, Nokia has the potential to become a top name to watch in the 5G industry. Interestingly enough, NOK stock may also be at a bargain level. After announcing that it had cut its full year profit forecast, shares of NOK stock dropped by around 13%. But, CEO Pekka Lundmark stated that the company will “do whatever it takes” to become a leader amongst other 5G companies.
He went on to state that “we expect to stabilize our financial performance in 2021 and deliver progressive improvement.” With all of this in mind, Nokia Corp. looks like it is well positioned to take advantage of the growing 5G marketplace.
5G Penny Stocks to Buy [or avoid]: UTStarcom Holdings Corp.
UTStarcom Holdings Corp. is one of the big gainers for November thus far. Since the beginning of the month, shares of UTSI stock have shot up by roughly 30%. For some context, UTStarcom Holdings operates as a telecom infrastructure provider. The company works to build out large operations that include cloud-based services, streaming, and more. Based in China, UTStarcom Holdings has operations in India, Japan, Taiwan and other areas of the world. Because of its wide breadth of operations, it’s difficult to peg UTStarcom to one area of the communications industry. But, it seems as though 5G services interact with almost all of its technology.
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The company recently announced the introduction of a Converged Packet Transport Platform known as SkyFlux. The goal with this platform is to improve the communications market by offering carriers the opportunity to enable 5G on their networks. Dr. Zhaochen Huang, CEO of the company, stated that “we are excited to launch our next-generation communications platform, SkyFlux Converged Packet Transport. As network infrastructure continues to transition to 5G, we believe the product is well-positioned to meet the needs of key network operators globally.”
In a progress update, UTStarcom announced key progress in its disaggregated solution for 5G transport networks. The company aims to support 5G network rollouts by delivering advanced transport network infrastructure products designed and optimized for 5G. As more developments come about, we’ll continue following progress. With this big move in the works, UTStarcom Holdings Corp. could be a 5G penny stock to watch.
5G Penny Stocks to Buy [or avoid]: Globalstar Inc.
Globalstar Inc. is an IoT solutions company that works in several industries around the world. This includes energy, transport, government, maritime and more. One of its flagship products, SmartOne, is in use as an asset tracking software. SmartOne has seen a great deal of critical acclaim from industry executives in the past year or so. Recently, the company announced its Q3 2020 financial results.
Dave Kagan, CEO of Globalstar stated that “we are pleased to be in the home stretch of 2020. This year has obviously not been what we expected, but we have enjoyed a few victories, while also enduring the challenges presented by the pandemic.”
While the quarterly results were not outstanding by any means, they are indicative of Covid’s effect on the industry. During the quarter, the company posted $38.2 million in revenue. All in all, the company posted a loss for Q3 of around $25 million. While the company has suffered a bit due to the antics of 2020, it is benefitting from increased investor interest in 5G. With this in mind, it’s up to investors to decide whether or not GSAT stock is one of the 5G penny stocks to watch right now.
5G Penny Stocks to Buy [or avoid]: Vislink Technologies Inc.
Vislink Technologies Inc. is a company that designs, develops and delivers various wireless service solutions around the world. The company states that it has operations in the Americas, Europe and Asia. Within the Vislink Technologies company are several brands such as Nucomm, RF Central, IMT and more. With these, the company is able to cover many of the wireless sectors. This includes sports and entertainment as well as government needs and surveillance. Because it is such a broad company, many investors view Vislink as having an advantageous position in the 5G market.
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Carleton Miller, CEO of Vislink Technologies stated that “with recent production innovations and a financial turnaround initiated through strategic cost-cutting measures and an overhaul of key processes, we are positively positioned for long term growth and a healthy pipeline of large contract opportunities in 2021.”
In a tweet on Friday, the company highlighted its video and data solutions for military applications. The tweet read, “As global leaders in the provision of high quality, reliable, real time video communication, we have the knowledge & experience to create a solution specific to the operational needs of first responders, law enforcement & government personnel.” Ultimately it acted as a catalyst on Friday with VISL stock jumping during the session. All things considered, VISL could be another one of the communications penny stocks to watch.
