good penny stocks to watch right now

3 Penny Stocks To Watch Before The End Of 2020

The end of the year can become an exciting time for penny stocks. We tend to see sporadic breakouts and break downs, news-driven momentum, and technical patterns to follow. Where some worry about tax-loss selling toward the end of the year, what we’ve seen recently is something different.

Not only are stocks at all-time highs, but it’s also hard to say where to cut losses considering this as the case. That is if you’ve been trading for the last 9 months. Since the big March sell-off, stocks have been red hot. Some sectors like travel haven’t fully recovered but have certainly come up nicely off of their lows. So where should traders be looking for new opportunities?

If you remember from a few weeks ago, electric vehicle penny stocks were all the rage. You couldn’t go to any message board to find penny stocks like Reddit or even Facebook without encountering something about EVs. Since the momentum has slowed a bit, the new interest seems to be focused on biotech and technology stocks. While EVs can certainly fall under that umbrella on the tech side, there is much more to look for in my opinion.

We’re seeing things like LiDAR technology, for instance, take the stage early this week. Luminar Technologies (LAZR Stock Report) has captivated traders over the last few sessions. This has helped trigger some sympathy momentum in other sensor tech penny stocks.

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Also, you’ve got penny stocks like some discussed over the weekend, Obalon Therapeutics Inc. (OBLN Stock Report), for instance, placing more of a focus on healthcare stocks. At the end of the day, the choice is obviously up to you on what to buy in the stock market today. However, following certain trends can help sift through some of the noise.

Penny Stocks To Watch #1: MicroVision Inc.

MicroVision Inc. (MVIS Stock Report) is one of the tech penny stocks I was referencing above. It also focuses on sensor technology and has developed a LiDAR tech as well. In light of so much attention on this niche, MVIS stock has continued higher this week. Reaching highs of $2.79 this morning marked a move of now 60% since the start of November.

If you’ve followed our coverage on MicroVision, you’ll remember the company’s announcement from last week. The company brought on Judy Curran to its Board for her extensive experience in the auto industry. Considering that LiDAR tech, specifically, is used by carmakers – EV and fossil fuel – an accomplished member could aid in the company’s evolution. Curran has experience with names like the Ford Motor Company.

Even Brian Turner, Chairman and Lead Independent Director at MicroVision cited how she could help develop the company’s lidar arm.

“I believe automotive lidar sensor technology represents a significant opportunity and potential value to our shareholders. Judy brings a deep understanding of the current automotive marketplace including new technology, business strategy, operations and management. Her role at Ford Motor Company leading assisted driving strategy and other technology initiatives strengthens our board as we consider various opportunities. She will be a valuable addition to the MicroVision board of directors.”

Given the obvious excitement behind this tech, will MVIS stock benefit from sympathy sentiment?

good penny stocks to watch 2021 MicroVision Inc. (MVIS stock chart)

Penny Stocks To Watch #2: BELLUS Health Inc.

BELLUS Health Inc. (BLU Stock Report) is one of the penny stocks we’ve followed ever since tanking back in July. The company came gave a bad readout in Phase 2 trial results of its BLU-5937 treatment for refractory chronic cough. Since that time BELLUS has worked on its pipeline and further R&D efforts. While most of the trend has been sideways, the end of November and December have been very active. Shares have bounced from around $2.40 to highs this week of $3.49. The latest surge came after BELLUS appointed a new Chief Financial Officer.

[Read More] 3 Penny Stocks On Robinhood To Buy Under $2.50; 2 Up 100%+ In Q4

Ramzi Benamar takes the role. He has experience working with companies like Roche Holding and Spark Therapeutics. Aside from this appointment, investors should take note of what has happened over the last few weeks that could have been tailwinds leading into December.

Not only did the company report earnings per share growth, year over year in its 3rd quarter statement, but the company also gained interest from the analyst community. Specifically, Evercore ISI Group initiated coverage on BELLUS giving it an Outperform rating. It also stuck a $12 price target on it; over 260% higher than the current trading levels.

good penny stocks to watch 2021 BELLUS Health Inc. (BLU stock chart)

Penny Stocks To Watch #3: Nokia

Nokia (NOK Stock Report) has been no stranger to our lists of penny stocks to watch. After falling back from its $5.14 highs, November and, now, December have been big recovery months for the stock. Since the beginning of November, shares of NOK stock have climbed more than 20% so far. When people start searching for 5G stocks, Nokia may or may not come up as one of the popular names. But we know, first-hand, when it comes to 5G penny stocks, NOK tends to stand out.

The company has inked numerous 5G deals over the last few months. It also brought on a new CEO, whom has taken the helm and continued directing the company down a growth path. This week, Nokia announced that it would lead the European Union’s 6G flagship project, Hexa-X. Obviously, we’re no longer talking about 5G anymore. This 6G initiative aims to research the new wireless technology and put the EU in a leading role on the global scale.

Nokia expects 6G systems to launch commercially by 2030, following the typical 10-year cycle between generations. So it might not be a bad idea to start looking for 6G stocks to watch right now. Nokia is also actively involved in other European 6G research initiatives. These include 6Genesis, a national 6G program funded by the Academy of Finland and led by the University of Oulu. It’s also involved with Horizon Europe Smart Networks and Services, which looks to secure European leadership for the development and deployment of next generation network technologies and services.

Heading into the end of the year, we could see traders take aim at technology and communications stocks now that there’s a clear path forward thanks to a COVID vaccine.

good penny stocks to watch 2021 Nokia (NOK stock chart)

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