3 Penny Stocks To Buy For Less Than A ‘Fancy’ Coffee From Your Barista
Coffee isn’t the only thing in the air this weekend. The smell of stimulus money has many retail investors looking for the best penny stocks to buy right now. While there are some obvious choices, sometimes the lesser-known penny stocks could have the most potential. Investing & trading in 2021 seems to be quite different from years prior.
We have to take into consideration the current and lasting effects of the pandemic on many industries. Right now, investors are showing a focus on tech and biotech penny stocks, among other small-cap niches. Even with the recent pullback, both of these have industries & the stocks within them have seen dramatic rises in value as a result of the Covid pandemic.
Many market analysts are interested in whether the latest round of stimulus will go directly into stocks or other investment vehicles. That’s because data has already revealed that the last stimmy was partially earmarked for the stock market. Furthermore, Deutsche Bank did a little digging and surveyed 430 investors using the platform.
It revealed that the market might be set for another capital infusion. Of those polled, respondents between 25 and 34 said they plan on spending half of their stimulus on stocks. The 18-24-year-old cohort said 40% would go into the market. Meanwhile, the older 35-54 group earmarked 37% for stocks.
What Are The Best Penny Stocks to Buy Right Now?
Beauty is in the eye of the beholder. So when it comes to “the best penny stocks to buy,” everyone has an opinion. Furthermore, whether or not “stimmy stocks” becomes a trending topic is to be seen. But in light of recent trends and late afternoon momentum on March 19th, there are a few penny stocks that may be worth a closer look heading into the last full week of March.
1. Senseonics Holdings Inc.
We’ve been covering SENS stock for quite some time due to its large price movements. Since December 1st, shares of SENS have shot up by well over 700%. This jump is underlined by developments from its highly innovative tech products. On March 16th, news dropped that Seseonics was granted a patent for its ‘Remote analyte monitoring’ technology.’ This is a solid addition to the Senseonics pipeline.
In its fourth-quarter report, posted a few weeks ago, Senseonics reported updates on several of its products. This included the advancement of its implantable continuous glucose monitoring device or CGM. Financially, SENS brought in almost $4 million in revenue during the quarter. Simultaneously, it managed to raise roughly $175 million from several equity offerings undergone in Q1 2021.
Tim Goodnow, CEO of Senseonics, stated that “we are very pleased with our fourth-quarter results, our commercial collaboration agreement with Ascensia and the success of our recent financings. These steps conclude a strategically transformational year for Senseonics.”
Goodnow refers to the agreement it went through with Ascensia several months ago. This agreement for the commercialization of its Eversense CGM system should help to improve its market exposure. Also, this collaboration could help to reduce costs and access for a broad range of patients. Something to keep in mind if SENS is on your list of penny stocks next week.
2. Zomedica Corp.
Another penny stock that our readers may be familiar with is Zomedica Corp. The company is a veterinary health company. Its focus is on producing a range of products for domesticated animals, including dogs and cats. In addition to producing pharmaceutical compounds for animals, Zomedica also produces medical diagnostic technology. It states that the goal is to provide veterinarians with the best-in-class tools to boost productivity and outcomes. Its most prominent product right now is Truforma.
This platform allows for fast diagnostics in an industry where new tools don’t surface often. Earlier in the week, Zomedica announced the first commercial sale of Truforma. This is a big event that traders have been waiting for as it culminated in years of work on this one product.
Robert Cohen, CEO of Zomedica, states that “this is a momentous day for Zomedica, our shareholders, the veterinarians we serve, and the companion animals in their care. I would like to express my deepest gratitude to the many people at Zomedica who dedicated the past two years of their lives to achieving this critical milestone.”
The first purchaser, Dr. Jason Berg, DVM, is the founder of Guardian Veterinary Specialists. He states that “as a veterinary internist and business owner, I have devoted myself to advancing the practice of veterinary internal medicine and delivering care with a difference. I am excited to be the first veterinarian to purchase Truforma.”
With this exciting news in mind, ZOM could be a penny stock to watch heading into the end of the month.
3. Cemtrex Inc.
Cemtrex is a tech company providing IoT, AR, and VR products to the marketplace. Its market is quite broad and includes industrial manufacturing, consumer products, digital applications, security, surveillance, and more. At the beginning of the year, Cemtrex reported its Q4 and full-year 2020 financial results. It received a $1 million order during the quarter through its Advanced Technology sector for a large correctional facility based in Britain. This, however, is only one highlight of the quarter.
CEO of Cemtrex, Saagar Govil, stated that “2020 has been a milestone year for our company as we continued to innovate, grow and expand Cemtrex. Despite the challenges of the global pandemic, we increased revenues by 11% for the year, a testament to our team’s hard work and our focus on product development and strategic acquisition opportunities. We anticipate top line growth to continue in the coming year as our market returns to normal.”
Over the quarter, Cemtrex managed to infuse more than $10 million in cash into its balance sheet. Its thermal imaging systems are being touted as essential for detecting potential Covid cases in different physical settings. Also, during the first quarter, the company announced the next generation of its SmartDesk product. This should help to accelerate growth in its interactive technology sector. So as a medical tech penny stock with interesting potential, CETX could be worth a closer look, especially after how it finished up the week this past week.
Should You Buy Penny Stocks This Week?
Penny stocks are high risk and high reward. But knowing whether or not they’re right for you starts with understanding how to day trade. In general, traders choose these cheap stocks for the simple fact that they move big percentages in a very short period of time. Where stocks like Netflix or Amazon may move 20% over months or years, penny stocks can accomplish that in minutes. Should you buy penny stocks? Let’s first understand things like risk tolerance and your general understanding of how to manage a trade in a highly volatile environment. If you’re just getting started, here are a few helpful articles to read: