Penny Stocks Are in Focus as the Doge Coin Hype Ramps Up 

Penny stocks are assets that have remained popular over the past few years. With cryptocurrencies like Doge Coin shooting up in value, investors are constantly searching for the best penny stocks to buy. Now, you might be wondering, what do penny stocks have to do with cryptocurrency? And the short answer is that at first, it might not seem like they correlate. 

However, the fact that they both tend to be cheap (with the exception of Bitcoin and certain others), means that investors often view them in tandem with one another. It’s important to consider that penny stocks and cryptocurrency do not always rise alongside one another. However, when investors see cheap cryptocurrencies reach new all-time highs, they often will search for stocks that could do the same. So while they may not be in the same asset class, the two often share a similar intent from investors. 

Considering this, there are plenty of penny stocks to watch right now. But just like crypto, investors need to do the proper research before pressing ‘buy’. This means knowing what factors will affect a company in the time frame that you wish to invest in.

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Additionally, you should know the fundamentals of a company such as its outstanding debt, revenue, net income, and the other factors outlined in its balance sheet. Considering these aspects, it can be much easier to find penny stocks to watch. With this in mind, here are three top penny stocks to check out today.

3 Penny Stocks to Watch Right Now 

Ambow Education Holding Ltd. (NYSEAMERICAN: AMBO) 

As far as ed-tech penny stocks go, Ambow Education could be an interesting choice. For some context, it works as a national provider of education and career services in China. This includes offering high-quality services and products used in individualized learning. It has a large network of regional service hubs that work in tandem with its proprietary learning software. In China, Ambow provides its services to 15 out of the total 34 provinces. Big news dropped early on April 19th when the company announced an expansion of its partnership with Amazon (NASDAQ: AMZN) to provide artificial intelligence training for teachers. In detail, this partnership will allow for ongoing collaboration between the two companies. 

Since 2018, Ambow has worked with Amazon Web Services to design in-depth training services that focus on AI. The pair will work with Ambow’s recently released streaming courses to help improve the educational services that teachers can offer to their students. 

Dr. Jin Huang, CEO of Ambow, stated that “further cooperation with Amazon is a great testament to our strong capabilities in providing high-quality education and training. Leveraging our industry-leading AI Panorama Digital Teaching System, we will regularly launch AI training courses and host various events for new skills, shared experience and project research.”

Huang went on to state that “In collaboration with influential enterprises, we are committed to delivering effective education services that will closely integrate talent training and industry development in the AI space.” Considering this exciting update, it looks like Ambow could see heightened attention in the coming weeks. Whether this makes it a penny stock to watch is up to you. 

Penny_Stocks_to_Watch_Ambow Education Holding Ltd. (AMBO Stock Chart)

Digital Ally Inc. (NASDAQ: DGLY) 

We’ve written about DGLY stock quite a few times in the past couple of months. However, on April 19th, Digital Ally is once again seeing solid momentum. While there isn’t any company-specific news that came out during the day, there could be some outside factors affecting its share price. To help understand this, let’s take a closer look at DGLY stock. 

Digital Ally designs and manufactures high-quality video recording products and analytics software. Its products such as the EVO-HD in-car system and FirstVu body camera, are used across several markets such as policing, fleet safety, and event security. 

Recently, it has also entered into the critical safety product market with the launch of its Shield Health Protection Products. This includes disinfectants, non-contact thermometers, electrostatic sprayers, and personal protective equipment or PPE. This product line is used in the fight against Covid-19 in both large and small-scale events.

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A few weeks ago, the company announced several large domestic and international orders for its body-worn and in-car camera systems. This includes orders from those such as the Royal Barbados Police Force among others. Stan Ross, CEO of Digital Ally stated that “recently, we have seen multiple events that display the importance of body cameras with auto-activation technology. The EVO-HD comes standard with our patented auto-activation technology build into the unit, which simultaneously connects and activates a recording of the in-car cameras and body camera when triggered by multiple sensors.” 

If we look at the policing atmosphere in the U.S. right now, several events are leading to heightened demand for Digital Ally’s products. This includes riots which have created demand from law enforcement for body cameras. Also, the public demand for these products is high as police officers need to be held accountable for their actions. Considering this, Digital Ally looks like it could continue to be a valuable player in the stock market. With these factors in mind, is DGLY a penny stock to watch?

Penny_Stocks_to_Watch_Digital Ally Inc. (DGLY Stock Chart)

Celsion Corp. (NASDAQ: CLSN) 

Moving away from the more pure-play tech penny stocks mentioned above, Celsion Corp. works in the biotechnology industry. It creates innovative cancer treatments such as immunotherapies and DNA-based treatments. Celsion is also working on the development of nucleic acid vaccines that are focused on preventing Covid-19 infection among others. Because of this, CLSN stock has seen more attention this year than in many years prior. 

In its pipeline are products such as GEN-1, which is a DNA-based immunotherapy that allows for the localized treatment of ovarian cancer. Additionally, it offers ThermoDox which is a heat-activated liposomal capsule containing doxorubicin. This medicine has potential indications for treating a variety of cancer types. 

A few weeks ago, Celsion announced the closing of a $15 million registered direct offering. This offering, worth around 11.53 million shares sold at $1.30 per share, will help with both general corporate needs and R&D activities. 

In addition, only a few days before this, the company announced that GEN-1 showed a 41% improvement in patients through its Ovation 2 study. This is highly encouraging for those suffering from ovarian cancer as well as the company and investors. 

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With any biotech penny stock, we have to consider trials as well as its financials. So looking at this large fundraising deal and its high-efficacy compounds, Celsion looks like it could have a lot to offer. Moving forward, investors should pay attention to any news that comes out regarding the company and its pipeline.  

Penny_Stocks_to_Watch_Celsion Corp. (CLSN Stock Chart)

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