Penny Stocks Involved in Reopening Continue to See Bullish Momentum
Penny stocks have so far in April, performed quite well. With momentum continuing to grow, investors are always looking for the best penny stocks to buy. Heading into May, businesses are beginning to recover, fueled by vaccination rates and a declining number of COVID-19 cases. For this reason, investors are looking at penny stocks of all types.
These penny stock watchlists are based on the future potential of companies that could benefit from economic reopening. This has led investors to now position themselves in stocks under $5 that they believe will benefit from the in-person business. Additional government aid has led many to believe that we are at the beginning stages of an economic growth period.
“The unprecedented amount of stimulus from the Federal Reserve and U.S. Treasury along with the pent-up savings rate and demand by consumers is sure to unleash massive economic growth akin to a post-war boom, or as some have said another Roaring ’20s.”James Demmert, a founder, and managing partner at Main Street Research
Future expectations for a company play a large role in the price action of its stock. In short, if there is good news, the price can go up, and if there is bad news, the price can go down. Now of course this is broken down even further by expert analysts who are paid to predict a stock’s trajectory.[Read More] Penny Stocks on Robinhood to Watch After the Coinbase IPO
With a penny stock, however, due to its smaller market cap and lower price per share, prices move more quickly and can in some cases be even less predictable. However, with a trading education, investors can have a better chance at seeing heightened profits. For both experienced and those who know how to trade penny stocks, looking and short and long term trends could be beneficial.
Here’s a look at three penny stocks to consider adding to your watchlist on the road to economic recovery.
3 Penny Stocks For Your Reopening Watchlist
Muscle Maker Inc. (NASDAQ: GRIL)
Founded in 1995, Muscle Maker Inc. has expanded nationwide. With the slogan “Great Food with Your Health in Mind,” GRIL provides customers with healthier versions of common mainstream dishes. Its service includes options for an array of dietary preferences, from vegetarians to gluten-free patrons.
As the marketplace begins to reopen GRIL has been preparing as well. On March 30th it acquired Florida-based ‘Superfit Foods’ and more recently as of April 8th has gained another $10 million in funding from Private Placement.
“This funding when closed will allow Muscle Maker to continue to execute our non-traditional location growth strategy as well as provide the ability to identify and acquire additional concepts that complement our business model like the recently announced acquisition of Superfit Foods.”CEO of Muscle Maker, Michael Roper
Along with these steps towards future growth, GRIL has also become open to accepting Bitcoin as an alternative form of payment. This shows recognition of the modern customer and further shows their innovative idealogy to remain relevant. In times like these, companies that make considerable efforts to stray from traditional business models are the ones that tend to last. With this in mind, does GRIL deserve to be on your penny stock watchlist?
Drive Shack Inc. (NYSE: DS)
An entertainment penny stock we have been talking about for a while now is Drive Shack Inc. An in-person-related golf company that provides customers with a competitive socializing environment. As a leading operator in golf-related leisure and entertainment DS provides its customers with food, drinks, and a driving range. What more could one want? Drive Shack is known to be an innovative company when it comes to entertainment.
With plans of expansion into Penn Quarter, Washington D.C., as the pandemic comes to a close Hana Khouri, President and CEO of DS states that “2021 will be an instrumental year in our company growth story and we’re excited to initiate the next phase of expansion with our entrance into Washington D.C.”[Read More] 3 Penny Stocks on Robinhood for Your April Watchlist
Known for its high-energy and staple restaurant, bar, music, and shopping scene, Penn Quarter is located in central D.C. It’s additionally home to their city’s NHL, NBA, and WNBA sports teams which drive much sports-related traffic to the area as it is. As a company that specializes in adult-oriented mini-golf, this new location will be complementary to its surrounding area.
With this new addition, DS will bring its total number of Puttery venues to three, with the others to be located in Charlotte, North Carolina, and Dallas, Texas. All are expected to open later this summer, in perfect succession with the country’s plan to reopen. By the end of 2021, DC plans to open a total of seven new locations. With its plan for future expansion should you also plan to add this penny stock to your watchlist?
BIOLASE Inc. (NASDAQ: BIOL)
With many feeling more comfortable going out and about due to the rise of vaccination rates, people are returning to businesses that would typically be avoided at the pinnacle of COVID. BIOLASE Inc. is a biotech penny stock and specifically, a medical device company that specializes in dental laser systems.
It’s a global market leader in dental laser manufacturing and marketing. Their devices are minimally invasive and are used by dentists and dental specialists globally. The broad range of procedures they are capable of includes cosmetic, restorative, and surgical applications.
Having sold over 41,000 systems in over 90 countries, BIOL has the mission to change how dentistry is practiced globally. A recent partnership with EdgeEndo was created to develop a Laser-Assisted Microfluidic Irrigation device for endodontists.[Read More] Hot Tech Penny Stocks To Buy? 3 To Check Out Before May
This new device will offer a better solution for endodontists looking for more thorough cleaning and disinfecting techniques. BIOL will submit a premarket notification (510(k)) to the FDA for the co-developed device in the second quarter of 2021. Should BIOL be a penny stock you consider?
“We are very pleased with the efforts thus far on the design and performance of the EdgePRO as our first OEM laser product… This allows BIOLASE to focus its commercial channels on other specialties, such as periodontics and pediatrics, in addition to the approximately 200,000 general dentists in the United States. We look forward to a long and beneficial relationship with EdgeEndo.”President and CEO of BIOLASE Todd Norbe