Are Tech Penny Stocks Still Worth It?

Both blue-chip and tech penny stocks are in a flurry right now after news came out about Berkshire Hathaway cut its stake in Apple (AAPL) in favor of taking up a larger position in names like Verizon (VZ) and Chevron (CVX). The Oracle’s “mystery stock pick” had been the center of speculation over the last week as traders awaited the latest round of 13F filings. So what does this mean for tech? In reality, while tech companies like Apple might experience some selling pressure in light of this latest move, it has ultimately brought attention to alternatives in the technology space. You’ve also likely got some attention building on communications stocks too.

Wednesday saw major benchmark tech ETFs like the XLK pull back from Tuesday’s all-time highs giving back the last 3 days of gains. The S&P and Nasdaq both pulled back in concert. One niche that didn’t pullback was financial stocks. Now, I’m not just talking about your popular banking stocks. Due to the rise in attention surrounding cryptocurrency, there were plenty of fintech stocks making a strong push toward new highs.

Companies ranging from digital currency miners to digital payment processing took off on Wednesday. If you look at the Financial Select Sector SPDR® ETF (XLF), you’ll see this sentiment clearly displayed. The ETF made quick work of previous all-time highs, breaking above that level early during Wednesday’s session. The XLF reached a high of $32.24 long-before the lunch hour. This continued Tuesday’s early move that firmly established new all-time highs. Given these circumstances, there are a few tech penny stocks with exposure to either telecommunications or fintech that could be interesting to watch.

Penny Stocks To Watch

  1. Globalstar Inc. (NYSE: GSAT)
  2. Greepro Capital Corp. (NASDAQ: GRNQ)
  4. Trivago (NASDAQ: TRVG)

Globalstar Inc.

This isn’t an unfamiliar name on our lists of penny stocks to watch at this point. Globalstar has been the center of attention for anything from 5G penny stocks to the Internet of Things (IoT). This week, GSAT stock has managed to climb, closing in on last week’s 2021 highs followed a big update.

Globalstar announced a global strategic alliance with XCOM Labs. The two will focus on commercializing XCOM’s capacity-multiplying technology with Globalstar’s Band n53 for dense 5G deployments in the US and other countries where Globalstar has terrestrial rights.

[Read More] Best Penny Stocks To Buy Now? 3 Hot EV Battery Stocks To Watch

The company’s Band n53 continues making headlines this year. This month, it was selected by Qualcomm to use Band n53 in Qualcomm’s flagship X65 modem. Also, you can’t forget about Globalstar’s deal with business partner Nokia (NYSE: NOK) to deploy Band n53 at the Port of Seattle, Terminal 5. Considering all of this progress, GSAT may be one of the top tech penny stocks to watch in February.

tech penny stocks to watch Globalstar GSAT stock chart

Greepro Capital Corp.

On the fintech side of things, Greenpro has also made strides to expand in 2021. In fact, GRNQ has been one of the hot penny stocks to watch for most of the month so far. The first time we discussed the company, Greenpro had gained attention for its position in the crypto/blockchain arena. Greenpro explained its intention to set up a bitcoin fund for customers. The company believes that bitcoin will soon see more adoption worldwide, and with companies like Tesla fulfilling that prophecy, Greenpro might not be that far off.

Last week, the company signed an investment agreement for just over $7.2 million with Innovest Energy Fund. The fund is developing products and services for the crypto industry. Greenpro’s CEO CK Lee said, “As a leader in new-finance, Greenpro is constantly seeking strategic opportunities to expand our strategic investments. After careful consideration, we decided to invest in Innovest Energy Fund as this fits into our Bitcoin fund and Fintech businesses. We look forward to developing this company to grow their exciting range of blockchain and crypto sector investment services.”

With the obvious heightened interest in bitcoin and blockchain technology, traders are searching for more bitcoin stocks to watch. Due to its involvement on several levels, GRNQ could be on that list.

tech penny stocks to watch Greenpro Capital Corp. GRNQ stock chart


MMTEC is another one of the tech penny stocks we’ve talked about recently. The company is another fintech of sorts. MMTec helps financial institutions in China accelerate integration into the overseas markets by offering a complete suite of trading solutions. These include fund establishment services, issuances, custody, transaction, and settlement.

The difficult part about following MTC is that the company lacks information. There’s been much more speculative sentiment driving momentum, in my opinion. Since last year, the company hasn’t released a filing, and news from the company is sparse at best.

Read More

Needless to say, this hasn’t put the brakes on the rally that MTC stock has seen this year. Since January 4th, shares have jumped from under $1.50 to highs of $4.70 this week. The biggest question is that without any corporate developments, how long can sentiment remain in play?

tech penny stocks to watch MMTEC MTC stock chart


While Trivago is neither a fintech company nor a telecommunications company, it is one of the tech stocks that recently caught some attention. The hotel booking platform recently experienced a surge of momentum as new vaccines hit the market, combatting the coronavirus. Since the beginning of the year, TRVG stock has climbed as high as $5.88. It also looks like travel is a very hot item right now.

According to a surg=vey that Trivago conducted, the consumer response is clear. In this survey from January 3rd -9th, respondents were polled in the U.S. and U.K.. Results revealed a significant level of desire to travel. When asked what they would give up to travel again, 25% of both Britons and Americans say they’d give up all their savings to do it now. Roughly 40% say they’d give up sex for a year to get on the road right away. Nearly half would give up their job (the US, 48%; the UK, 41%). So, could this pent-up demand bode well for travel companies like Trivago? You decide.

What we can say is that the market continues to bet on travel stocks. Many of the beaten-down airlines have begun lifting higher in 2021. American Airlines (AAL) shares have climbed over 15%, Delta (DAL) shares spiked over 11%, and Southwest (LUV) has jumped over 10% since the start of 2021.

tech penny stocks to watch Trivago TRVG stock chart

Will Tech Stocks Stay Hot This Month?

It’s important to remember that the momentum can shift quickly depending on current market events with any hot industry or sector. Obviously, Berkshire’s moves haven’t made it easy for broader tech names to climb on Wednesday. However, will the short-term pressure last? Also, keep in mind that when it comes to bitcoin penny stocks, a lot of the directional movement is correlated to the cryptocurrency, in general. Should bitcoin prices shift, so too might the price of stocks with industry exposure.

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

4 Cheap Penny Stocks To Buy For Under $1 Right Now

Penny stocks under $1 to watch before next week.

Making A List Of Penny Stocks Right Now? 4 Spiking This Week

4 Penny Stocks To Watch That Are Making Bigger Moves At The End Of The Week