5 Penny Stocks To Watch Right Now
Should penny stocks be part of your overall trading strategy? If you can handle some risk and know how to trade volatile stocks, then the answer might be “yes”. But when you’re buying penny stocks, what exactly are you buying? Obviously, we’re talking about public companies and a share represents part ownership in that company. However, if you’re day trading penny stocks, your ownership is less than a day for the most part. So why would anyone trade stocks in the first place? The answer to that is simple: make money.
Whether you’re looking for ways of investing in penny stocks or you’re taking a short term approach, everyone has the same goal in mind. Day traders might be buying shares from long-term investors, investors might be purchasing their initial position from a day trader, or it could be a mix of everything. At the end of the day, you’re buying stocks based on the idea that it will be worth something more in the future.
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Herein lies the idea of catalysts. These can come in the form of company-specific news, industry news, or, as we saw today, broader sector news. Moderna (MRNA Stock Report) announced a big update on its coronavirus vaccine candidate. The company said it showed to be 94.5% effective against the virus. Those keeping score at home, that’s 4.5% higher than Pfizer (PFE Stock Report) and BioNtech’s (BNTX Stock Report), which was announced earlier this month. The upbeat sentiment stemming from this news has penny stocks in all corners of the market showing sympathy momentum as a result.
Penny Stocks To Watch
- Havn Life Sciences (HAVLF Stock Report)
- Westwater Resources Inc. (WWR Stock Report)
- Nano Dimension Ltd. (NNDM Stock Report)
- Tantech Holdings Ltd. (TANH Stock Report)
- Pioneer Power Solutions (PPSI Stock Report)
Considering the upbeat sentiment in the stock market today alone, Monday’s session has turned into one of the biggest days for some stocks. Are these on your watch list right now?
Penny Stocks To Watch #1: Havn Life Sciences
When you think of current events do psychedelics come to mind? If you said yes then you’ve probably paid close attention to recent headlines in places like Oregon and even, most recently, New Jersey. With the passing of a recent bill, magic mushrooms are set to become legal in Oregon. Furthermore, a new amendment to the recently passed cannabis bill in New Jersey actually loosens penalties for possessing up to an ounce of psilocybin, an active compound in “magic mushrooms.”
Havn Life Sciences has focused on developing both a recreational/nutraceutical as well as a medical application for psycho-pharmacological products. Much of the focus for most companies in this burgeoning space have to do with treating mental diseases or simply enhancing someone’s current state of mind. Through Havn Labs, the company aims to standardize the supply of psychedelics to support new therapies and it has already received its first Health Canada license. On the healthy lifestyle side of its model, Havn just announced the first seven natural health supplements it plans to bring to market in 2021.
Chief Executive Officer, Tim Moore, said, “Havn Life’s team has done an incredible job bringing a complete and wide range of initial products to launch in 2021. The team will continue to work on additional formulations and products that will be launched later in 2021.”
HAVLF Stock: What To Watch
Aside from its product development platform, the company is lead by a strong team with deep roots in the early days of another “fringe” industry boom: cannabis. In fact, the Executive Chairman of the company was the CEO and co-founder of one of the top names in cannabis, Aphria Inc. Vic Neufeld lead Aphria to become a household name after implementing a growth strategy that saw the company’s market cap grow by more than 2,200%.
Furthermore, former Chief Scientific Officer of Aphria, Gary Leong has also come on board Havn. While there may be more “magic mushroom stocks” going public, the true test may likely be in the leadership of the company’s themselves. Will HAVLF stock hit the watch list considering the makeup of its current team and latest milestones?
Penny Stocks To Watch #2: Westwater Resources Inc.
Westwater Resources Inc. is one of the top penny stocks to watch this quarter. Since the end of September, shares have turned heads for the massive spikes that WWR stock has seen. Early on in October, the penny stock rallied to highs of $14.5 from under $2. This move (in less than a month) wasn’t the last big move either. This week, WWR stock has taken off yet again as alternative energy stocks. Specifically, Westwater is wrapped into the rapidly growing EV sector.
The company develops energy-related materials for battery projects. Westwater has graphite and uranium projects across the U.S. The sympathy momentum that stocks in the sector are seeing is undeniable this month. With companies like Nio Inc. (NIO Stock Report) set to report earnings, tensions are high but so is volatility. On Monday, WWR stock managed to reach highs of more than $5.20.
WWR Stock: What To Watch
Aside from the sympathy momentum, Westwater recentyl reported earnings. It’s important to note that its Q3 figures came in lower from a year ago. Earnings per share was a loss of $1.23 compared to a 95 cent loss in 2019’s Q3. However, management seemed optimistic for the new year ahead based on milestones reached in 2020.
Chris Jones, CEO of Westwater Resources said, ” Coupled with decades of capital markets experience, we have what we need to build a powerful presence in the new energy marketplace. In the third quarter of 2020 we reached a number of significant milestones, and I believe these milestones position our Company for growth throughout 2021. We continue to execute our business plan without pause.”
Penny Stocks To Watch #3: Nano Dimension Ltd.
Nano Dimension Ltd. is another one of the penny stocks to watch this quarter. At the end of September, NNDM stock was trading around $1.75. Since then, shares have rallied as high as $6. The last few weeks have been more bullish following a few weeks of selling toward the end of October. Nano Dimension is a tech company built around a 3D printing model. Essentially, Nano Dimension builds machines to manufacturing switches, semiconductors, and the like.
The company recently sold 2 of its DragonFly LDP systems for additive manufacturing of electronics. These were sold to a nAustralian defense contractor and an Asia-Pacific-based research center. While this was a key highlight early on in the month, there are other things to note as well.
NNDM Stock: What To Watch
The company recently announced earnings. Nano Dimension recorded a better EPS loss compared to its prior year’s Q3 however the company missed on sales estimates. Nano Dimension came in with only $438,000 in sales compared to estimates of $1.2 million.
Yoav Stern, Chief Executive Officer and President of Nano Dimension commented: “We expect the mid-term slow-down effect to act like a “sling shot” once COVID-19 will start to phase-out. The pressure of the trade struggles with the East is already creating an interest for reshoring electronic manufacturing. Nano Dimension technology is ideally positioned as our 3D printing machines for Hi-PEDs™ are an environmentally friendly non-polluting fabrication and overnight prototyping methodology, fitting for setting up fabrication facilities in-house on the western continents.”
Penny Stocks To Watch #4: Tantech Holdings Ltd.
Tantech Holdings Ltd. has been one of the top penny stocks to watch for the better part of the last 10 months. At the start of the year, TANG stock was trading around $1.75. This week it reached new 52-week highs of $3.39 so far. While there hasn’t been an over abundance of headlines from the company, there are still a few things to consider.
Namely, the company’s involvement with two hot sectors right now: clean energy and technology. The company’s recent successes stemmed from the 6-month results reported in late- September. There was a surge for bamboo charcoal used for air purification and sanitation products. This, the company said, more than offset a decrease in its consumer product segment primarily due to the impact of COVID-19. However, the latest news could put TANH stock on the radar of even more traders this month.
TANH Stock: What To Watch
This week the company announced that its Shangchi Automobile subsidiary launched 2 driverless and autonomous street sweeper vehicles. This came just about a month after Shangchi Automobile unit won a multi-vehicle order for 23-seat diesel midibuses from China De Ruixiang Industrial for deployment in Singapore.
The drive (no pun intended) to find more auto technology stocks has reached a heightened level. Not only are we looking at things like electric vehicles but now, vehicle technology. Given the fact that TANH stock has climbed so much in such a short period of time, is it due for a pullback soon or are new highs coming?
Penny Stocks To Watch #5: Pioneer Power Solutions
Pioneer Power Solutions is a breakout penny stock to watch in Q4. PPSI broke out earlier in October after speculation on “hurricane stocks” put a focus on the company. Pioneer manufactures, sells and services specialty electrical transmission, distribution, and on-site power generation equipment. These are for applications in the utility, industrial, commercial and backup power markets.
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While there aren’t any hurricanes posing an immediate threat, PPSI stock is experiencing a surge of its own. This has seen the penny stock breakout on Monday morning without any apparent headline catalyst. But, considering the upbeat sentiment from Moderna’s vaccine news, many industrial stocks are getting a lift with the broader market.
PPSI Stock: What To Watch
Last week the company filed its latest quarterly results. While these were heavily publicized by the company, some figures may be worth noting. During the nine months ended September 30, 2020, revenue from its switchgear product lines increased by 15.0% as compared to the nine months ended September 30, 2019. This was a result of increased sales of transfer switches offset by decreased sales of low and medium voltage switchgear. Furthermore, for the three months ended September 30, 2020, revenue for its equipment sales increased by 37.5%, as compared to the same period in the prior year. For the nine months ended September 30, 2020, equipment sales increased by 20.6%, as compared to the same period in 2019.