Top Tech Penny Stocks To Watch Before Next Week
As far as penny stocks go, there is a wide range of options to choose from. But, investors have to be smart and do their diligence to find the right stocks to watch based on their trading strategy. This process is not difficult if it is broken down into a few steps. With that in mind, let’s go over what those steps are. First, investors need to create a list of penny stocks. This could be a wide range of companies as it will be narrowed down eventually. Once you’ve got your list, the next step is research. As prudent investors, we can break apart the research step into two different objectives.
The first objective is to look at the fundamentals of a given penny stock. This means scanning balance sheets and seeing what kind of financial situation a company is in. How much debt does it have? How much cash does it have on hand? What is its profitability? All of these questions are valuable in finding the best stocks to buy. Once this step is accomplished, the next objective is to look at the more speculative information.
This means viewing press releases and any information announced by the company that could hint at things to come. The research here is extremely important as penny stocks tend to trade heavily off of speculation. In addition, investors should make sure that they know what the company is doing in the long term to stay competitive. At the end of the research, investors should be able to theoretically explain their penny stock pick in detail to anyone who asks. With all of this information, here are four tech penny stocks to watch that could make it big in 2021.
Tech Penny Stocks to Watch
- Foresight Autonomous Holdings (FRSX Stock Report)
- Usio Inc. (USIO Stock Report)
- Remark Holdings Inc. (MARK Stock Report)
- Exela Technologies Inc. (XELA Stock Report)
Tech Penny Stocks to Watch #1: Foresight Autonomous Holdings ADR
Foresight Autonomous Holdings is a tech penny stock that we’ve been covering for quite some time. On Wednesday, December 23rd, volume for FRSX stock hit around 58 million by early morning. This is quite substantial considering the average volume for the company is usually around 5 million shares. The company produces vision sensors for automobiles. The goal of this is to improve the safety of vehicles as well as add the option of autonomous driving to cars. Currently, the company has several products including its QuadSight sensors which can see in pitch black and extremely inclement weather. One of the main reasons that so many investors are focused on FRSX stock is due to the EV boom that we’ve seen.
Investors have shown a great amount of attention toward EV penny stocks in the past few months. Because of this, ancillary penny stocks that work in the EV industry have also seen heightened attention. In December, Foresight announced that it had received a $1 million grant for the production and research of its autonomous vehicle tech. With this, it should be able to hit the ground running as soon as it perfects its products. In addition, the company is considered to be a LiDAR penny stock due to the products that it creates. With all of this in mind, FRSX could be one of the top tech stocks to watch.
Tech Penny Stocks to Watch #2: Usio Inc.
Usio Inc. is another tech penny stock focused on payments solutions. These include products for merchants, banks, sellers, card issuers, and others. Usio Inc. has seen heightened attention in the past few months due to the demand for electronic payment systems. Across the world, businesses have leaned away from accepting cash payments as the unsanitary nature of physical money means a higher risk for contracting covid. This means that more people than ever are using cards to pay for their products. Last month, Usio announced its Q3 2020 financial results.
In the results, Louis Hoch, CEO of the company stated that “I am pleased to report all-time record high quarterly revenues for the third quarter of 2020. Our ability to achieve the company’s highest quarterly revenue in this challenging economic environment is a testament to the strength of our diverse payments channel strategy. These results put us back on the strong growth trajectory that was temporarily interrupted by Covid-19 in the second quarter.”
Specifically, the company announced that revenue came in at around $8.1 million, which is a 15% increase over Q3 2019. In addition, the company managed to reduce its losses by half to around $253,000 or so. With its solid financial footing and strong demand, Usio Inc. could be a penny stock to watch right now.
Tech Penny Stocks to Watch #3: Remark Holdings Inc.
Remark Holdings Inc. is a technology company with a large range of products. The company specializes in the production of AI solutions for advanced computing and other needs. This includes its S and T Series Smart Box products, which are AI-based computers. The announcement of these devices came on December 9th, also explaining that the products would utilize NVIDIA’s computing modules. Kai-Shing Tao, CEO of the company stated that “Our smart boxes support our AI inference cores, including facial recognition, vehicle recognition, license plate detection, gesture detection and interference, fire and smoke detection, PPE enforcement, social-distancing enforcement, and contact tracing.”
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As you can see, the company has a very broad range for the technology that it produces. These can also be used for things like contact tracing and interpreting whether or not people are wearing masks. Of course, this is a niche area of its business, but, the fact that it is working on these projects means that the company is doing everything it can to stay competitive in the new COVID landscape. With cases continuing to uptick, it will be interesting to see if companies like Remark gain even more attention heading into year-end.
Tech Penny Stocks to Watch #4: Exela Technologies Inc.
Exela Technologies Inc. is one of the earlier movers of the trading day on Wednesday. This seems to be a correlative gain due to many other tech penny stocks trending higher as well. For some context, Exela Technologies offers business process automation or BPA. Its global market in combination with its trademarked technology means that it can continue to build upon its current business model. This includes a customer base of 4,000 businesses across 50 countries. One of the reasons that Exela has received so much attention is due to the scope of its business.
Rather than just working in one area of the BPA market, Exela states that its products can be used across finance/accounting, legal management, healthcare, insurance and more. In addition, it can tailor its product to be used in virtually any situation that it is needed. The company currently has as many as 21,000 employees around the world, which makes it quite a large business. Recently, the company announced that it had secured a $145 million term loan. This loan which is provided by Angelo Gordon, a large investment firm, will span five years into the future.
The company states that it will be able to use this funding for retiring all of its debt, and for liquidity purposes. With this, it looks like Exela Inc. is establishing a strong pipeline of deals right now but whether or not it is a penny stock to watch remains up to investors to decide. As you’ll see, XELA has experienced 1-day spikes like this before. Just a few days ago shares jumped to highs of over $0.60. In light of this more recent trading action, will this be a repeat performance or the beginning of an actual uptrend?