Should You Buy These Tech Penny Stocks?

When it comes to penny stocks, speculation plays a large role. It’s the idea of “what could be” that so many traders focus on. Since many of these companies are in their early and developmental stages, the opportunities are endless. But this doesn’t mean you should go out and immediately buy brand new penny stocks. It would help if you did some research first. What are the current market trends? Are you looking at companies in hot sectors, or are investors selling their positions? Could certain stocks benefit from upcoming events?

Those are all good questions to ask yourself as you put together a penny stocks watch list. So what are the hot areas of the market today? Biotech remains a staple among traders and investors alike. However, we’ve also seen a surge in many technology companies recently. This industry is one, in particular, that experiences its share of speculative trading. Pair it with cheap stocks, and you have yourself a perfect storm for big volatility.

This week, most broader markets pushed higher. The tech-heavy Nasdaq mirrored this move, helping to lead the charge. Furthermore, the benchmark Tech ETF (XLK) pushed higher as well. Last week, the XLK closed red after a multi-day downtrend took it to lows of $127.18 on Friday. The slide came just a few weeks after it put in new all-time highs before the New Year. In light of this market trend, it may not be a bad idea to have some companies on your radar. Will any of these be on your list of penny stocks to buy right now?

Tech Penny Stocks To Buy [or avoid]

TransEnterix Inc.

I talked about biotech being a hot sector of the market. But you also can’t ignore the cross-over between tech and biotech. This is where TransEnterix falls into the conversation. It’s a medical device technology company developing products for surgeons. This week the company continued its multi-week move after another big update surfaced.

The company’s Intelligent Surgical Unit received a CE Mark approval. The Unit is what enables machine vision capabilities in TransEnterix’s Senhance Surgical System. The CEO Mark approval now allows access to this technology in Europe.

“Augmented intelligence powered by machine vision will be one of the primary drivers in transforming surgery to enhance the capabilities of surgeons,” said Anthony Fernando, TransEnterix president, and CEO.

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What’s more, is that the company just raised over $30 million last week. According to the associated press release, it extended the company’s cash runway to Q4 2022. With fresh capital and global access, will this uptrend continue heading into the end of January?

tech penny stocks to buy now TransEnterix Inc. TRXC stock chart

Houghton Mifflin Harcourt Co.

Another one of the tech penny stocks recently gaining interest is Houghton Mifflin Harcourt Co. We’ve discussed this company for months with a particular focus on its eLearning platform. Since hitting lows of $1.03 early last year, HMHC stock has actually mounted a formidable comeback. It hasn’t reclaimed the entire drop during the pandemic sell-off. But it has managed to bounce back by as much as 403%.

The company’s Teacher’s Corner is its remote education product allowing the company to serve more than 50 million students and 3 million educators in 150 countries. The company’s recently launched “Family Room” offers an online space supporting different environments for teaching. Late last year, the company partnered with Montgomery Public Schools to implement Amira Learning ™.

This intelligent reading assistant listens to, assesses, and tutors learners to build early literacy for students. The company also revealed in a filing that it was exploring the sale of its HMH Books & Media consumer publishing unit. According to the company, a potential sale would reduce its debt and build upon its restructuring plan focusing on a digital approach.

Needless to say, as more vaccine news has come out, it seems to have positively influenced HMHC. Can this trend remain intact and will we ever see Houghton back at its early 2020 levels?

tech penny stocks to buy now Houghton Mifflin Harcourt Co. HMHC stock chart

Remark Holdings

One of the popular penny stocks to watch last summer was Remark Holdings. The main focus in the market was on its supposed progress in deploying thermal imaging scanning technology. A flood of tweets that spanned months showed its technology in casinos, hotels, and convention centers. There weren’t too many headlines to pair with tweets. However, speculation alone helped boost MARK stock to highs of over $3.

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This month Remark continues grabbing interest from traders. The company pre-announced its Q4 revenue. According to Remark, this came in at $4.7 million, bringing 2020’s total to over $10 million. Furthermore, this equates to a 100% increase in annual revenue compared to 2019. In tandem with that news, the company also announced a $30 million share buyback program.

“Smart Community projects are underway and expanding, and the rollout of China Mobile retail stores is expected to accelerate in the coming year,” noted Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings.

This week things continue heating up for the company. Remark announced that it was added as a technology partner by Hewlett Packard Enterprise. The company was named a “Silver Partner,” and the two companies plan to market AI solutions for things like retail management, surveillance, and health security.

tech penny stocks to buy now Remark Holdings Inc. MARK stock chart

Is It Time To Buy Tech Penny Stocks?

Whether you buy, sell, or hold penny stocks, the end goal is the same. That is to make money. When it comes to hot sectors like technology, you can’t forget that speculation plays a role. Considering that penny stocks are inherently speculative, higher levels of volatility are to be expected. But if you can handle big swings and understand the basics of trading, this could be one of the market areas to keep an eye on right now.


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