Penny Stocks to Watch Before Friday
When it comes to finding penny stocks to buy, investors will often go with the most popular companies in their respective industries. This can be a good strategy, but it does have its drawbacks. One thing to keep in mind is that the more popular certain stocks are, the more volatile they can be.
Depending on the stock and the industry, volatility can vary greatly. With that, several industries are seeing more attention than usual. This includes biotech, eco-centered companies, and communications penny stocks. While this is by no means a complete list, it is a great place to start.
At the top, we have biotech companies. These penny stocks range in what they do and how they operate. With the pandemic, investors have focused on biotech regardless of whether or not a company is working on a covid treatment or not. Next, we have eco-centered companies. This, again, is an extensive category that includes everything from energy to eco-solutions and more.
Lastly, we have communications penny stocks. These companies work in various communications aspects, including satellite data, applications, tech solutions, and more. While these are alternative sectors, they have become more popular in the past few months. With this in mind, here are 4 penny stocks to watch.
- ReTo Eco-Solutions Inc. (NASDAQ: RETO)
- IZEA Worldwide Inc. (NASDAQ: IZEA)
- Globalstar Inc. (NYSE: GSAT)
- Vislink Technologies Inc. (NASDAQ: VISL)
ReTo Eco-Solutions Inc.
One penny stock that we’ve covered recently is RETO. It has seen several days of double-digit gains in the past few months. While this does illustrate bullish sentiment, it also illustrates a large amount of speculation. In the past week or so, several rumors have flowed around concerning RETO and its future. While none of these rumors are confirmed, they are worth looking into. On one hand, the company stated that it will be working with the Olympics in Beijing for 2022.
Recently, ReTo explained that it had received State-backed funding for the Beijing Winter Olympics Competition Zone Project. The company has been working with the Tsinghua University Academy of Fine Arts to build out this project to the best of its abilities. This is less of a rumor and is something that seems to be coming to fruition.
In the past month or so, shares of RETO have climbed by over 280%. This staggering gain is a reflection of a great deal of speculative sentiment regarding RETO. So with all of this in mind, is RETO still a penny stock to watch, or has this week extended the stock to its top?
IZEA Worldwide Inc.
IZEA Worldwide Inc. is a marketing and tech company working to provide professional services for a large range of brands. In the past few years, the company has developed a broad strategy that allows it to work with numerous content-creators and influencers. Since its inception, the company has facilitated over 4 million transactions between buyers and sellers.
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This has helped earn it the rightful title as one of the leading online platforms for influencer marketing. During the pandemic, shoppers have increasingly turned to online marketplaces to buy products. Because of this, the demand for marketing services has also jumped up dramatically. On February 23rd, IZEA announced that it had been awarded several expansions for its existing contracts. This includes two Fortune 200 clients that have both become repeat customers.
Ted Murphy, CEO of IZEA stated that “we are delighted to see our customers return and expand their relationship with IZEA during a time that remains challenging for many businesses. When the pandemic first hit, Team IZEA doubled down on white-glove customer service. I believe we are being rewarded for that commitment to our customer relationships with renewals and expansions of contracts by the world’s largest companies.”
This is a very positive sign for IZEA, and traders have taken notice. It shows that IZEA is committed to growing its business and can do so even during times of hardship.
Globalstar Inc.
The communications giant, Globalstar Inc., is another penny stock seeing high bullish interest right now. A few days ago, the company announced that it had formed a global strategic alliance with the wireless player, XCOM Labs.
The goal with this is to “commercialize XCOM’s capacity-multiplying technology with Globalstar’s Band n53 for dense 5G deployments in the U.S. and other countries.” Because 5G has become extremely popular over the course of the pandemic, companies are scrambling to get operations up to par. Obviously, this deal is lacking in some specificity as the details are still unannounced.
But, because Globalstar has been working hard to turn a profit, this could be a positive deal for the company. Investors should be aware that Globalstar has lost money in all quarters over the past year with the exception of one in 2019. While this deal could be a big opportunity for the company, investors are still taking it with a grain of salt.
The hype around 5G has also put a lot of bullish sentiment on companies like Globalstar. But, as always, we have to consider the fundamentals when making a decision. While GSAT does have a lot of potential, investors should take a deeper dive into its financial situation before making a concrete decision.
Vislink Technologies Inc.
Another tech penny stock to watch has been Vislink. Shares of the company rallied strongly after dropping to lows of just under $3 on Tuesday. The company offers a wide array of communications and broadcasting devices, offering its portfolio to customers like police departments and even the military.
In an interview this week, Vislink CEO Mickey Miller was interviewed and gave an update and the state of the union, so to speak. According to Miller, the company is working toward advancing its Quantum Platform to adopt new technology. Miller also explained that Vislink is also busy looking at acquisition opportunities and growth. Much of this is centered around things like artificial intelligence and big data, further explaining that there’s never been a better time to be involved in AI.
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Following the interview, shares of VISL stock continued higher, breaking back above the $4 mark during the afternoon. Like other tech stocks, VISL came under selling pressure during the last week or so. But after Tuesday’s morning sell-off, it has bounced back in a big way. Will this trend continue into March?
