Will These Tech Penny Stocks Show Big Results in 2021?
In the past year, tech penny stocks have continued growing in popularity. There are a few reasons why this is the case. First, the COVID pandemic meant that more people were at home compared to previous years. This led to an increase in demand for digital learning software, digital communications platforms, and general technology needed to work remotely.
In addition to this, many investors believe that the pandemic has created an irreversible trend of working from home. As COVID rolls on, more and more people are realizing that their jobs can be done from the comfort of their homes. This has helped to increase the desire to find potentially valuable tech penny stocks to watch. And while not all tech penny stocks are valuable, some have made a solid case for themselves.
When looking for penny stocks to buy, investors should consider a few factors. First, what is a company doing that is different or better than others. In the world of technology, the most valuable companies are usually unicorns in an industry. This means that it is either the first of its kind or revolutionary in how its product works. While this is not a requirement, it is something to definitely keep in mind.
The second thing to consider is the company’s financial situation. This can help to determine where a penny stock may go in the future, and what it is doing in the present. With these two goals in mind, let’s take a look at three tech penny stocks to watch before the new year.
Tech Penny Stocks to Watch This Week
- Allied Esports Entertainment Inc. (AESE Stock Report)
- Super League Gaming Inc. (SLGG Stock Report)
- Remark Holdings Inc. (MARK Stock Report)
Tech Penny Stocks to Watch #1: Allied Esports Entertainment Inc.
Allied Esports Entertainment Inc. is a penny stock that operates differently from many other businesses. Allied Esports has capitalized upon the trend of online gaming broadcasting and live-streaming. The company provides infrastructure and multi-platform content for a large range of digital sports. This includes online poker, gaming, and other esports as they are known. The company also states that it works with a large range of brands in order to serve its audiences on a worldwide basis. Allied Esports reportedly large a large network of facilities around the world. This includes the HyperX Esports Arena in Las Vegas, Nevada. Additionally, it has facilities in Europe, China, and Australia.
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The company recently began a 24-hour streaming network service. After a successful pilot program with two million live views, the company saw that demand was high enough for all-day programming. Last month, AESE also announced its Q3 2020 financial report and earnings. In the report, EPS rose by around 33% over the previous years same period.
While its revenue beat out the estimate of $5.87 million, it still was a decrease of 2.5% over Q3 2019. It seems as though could be a lot of potential for AESE in an industry with a low amount of competition at this point. Whether or not it can continue to be a leader in this area remains to be seen. With this in mind, will AESE be on your list of penny stocks to watch this week?
Tech Penny Stocks to Watch #2: Super League Gaming Inc.
Super League Gaming Inc. is another Esports content provider that operates similarly to AESE. The company pulled in a solid gain of around 8% on Thursday, December 24th. In the past month, shares of SLGG stock are up by over 85%. And since mid-October, shares have risen by over 105%. This dramatic gain seems to be correlative to the entire Esports sector. What’s more, investor interest in it has increased dramatically this year. Super League Gaming currently operates within several areas of the esports marketplace. On one hand, the company provides and aggregates content on everything from social media to live streaming platforms.
In addition, the company offers a product known as Framerate, which is an Esports network that utilizes user-generated content. While SLGG is not yet profitable, revenue has grown 26% rate over the course of 2020. That is quite good and shows that the market as well as its market share, are growing.
With more people at home currently than in many years prior, companies operating in the Esports market are seeing a slew of new consumers being added to their platforms. Of course, the pandemic won’t go on forever, but it seems as though Esports platforms could be here to stay. For these reasons, investors could have SLGG stock on the watch list heading into the new year.
Tech Penny Stocks to Watch #3: Remark Holdings Inc.
Remark Holdings Inc. operates differently compared to the above tech penny stocks. The company delivers AI solutions to help businesses with a wide array of problems. This includes applications that can help with everything from retail markets to public safety and eCommerce. On December 11th, Remark Holdings announced two new computing systems that will perform various duties across a wide array of needs.
The systems known as the S and T Series Smart Boxes, are AI-powered computers that utilize an NVIDIA module. The hardware will be released through Remark’s subsidiary known as KanKan. Kai-Shing Tao, CEO of Remark stated that “when running KanKan’s award-winning AI software cores with NVIDIA CUDA’s acceleration, our Smart Boxes enable on the scene AI processing capabilities, thereby making low-cost, easy-deployment, real-time AI solutions.”
Tao went on to state that “our Smart Boxes support our AI inference cores, including facial recognition, vehicle recognition, license plate detection, PPE enforcement, social distancing enforcement, and contact tracing.”
With this technology, governments can have an easier time performing many of the necessary tasks associated with slowing the spread of COVID-19. In addition, because it is correlated with the pandemic, Remark Holdings has seen greater popularity in the past few months. All things considered, will this be on your list of penny stocks to watch?