3 Penny Stocks To Watch For a Head Start on May 

Penny stocks are already heating up as May gets off to a quick start. And, with any new month, we often see solid momentum throughout the stock market. With penny stocks, a new month represents a new chance for opportunity. This is more symbolic than anything, but because speculation is high, any time a new catalyst is in play, it’s worth considering its effect on your portfolio. 

Now, with so many penny stocks to buy, how can investors pick the right ones? The first step is always to understand your investing goals and how they align with your portfolio. For example, if you’re a short-term or swing trader, you might want to look for a list of penny stocks with high volatility. These could be tech stocks, biotech stocks, or any other industry that puts out news regularly. 

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The next step is researching each company on your penny stock watchlist to narrow down your list to around five or ten companies. This ensures that there are enough options to spread your risk, but not too many where it becomes hard to keep track of.

Last, investors need to ensure that they have a proper trading education. This will help to understand how and where to enter and exit your positions. With all of this in mind, May is another chance to start fresh. So, let’s take a look at three penny stocks to watch on Monday, May 3rd. 

3 Penny Stocks to Watch in May 2021

  1. Luokung Technology Corp. (NASDAQ: LKCO)
  2. Safe Bulkers Inc. (NYSE: SB
  3. Outlook Therapeutics Inc. (NASDAQ: OTLK

Luokung Technology Corp. (NASDAQ: LKCO) 

Luokung Technology is a tech penny stock that we’ve been covering for quite some time. It specializes in spatial-temporal big-data processing. With this, it provides a large range of DaaS, SaaS, and PaaS services to its wide breadth of customers.

These technologies can be used to add a layer of smart-tech to existing infrastructure. This includes city-level and industry-level applications for smart tech. Because of the fast-paced nature of IoT, tech can be added to almost every aspect of daily life. This includes the establishment of smart cities, smart industry, and intelligent transportation. 

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Aside from regaining compliance with the NASDAQ Minimum Bid Price Requirement a few weeks ago, Luokung has been working hard to move into new business areas. Big news dropped in March when the company announced the closing of the acquisition of eMapgo Technologies Co.

After raising roughly $120 million through several successful financing deals, this acquisition became financially feasible. Now, this acquisition should help the company, as eMapgo offers a complimentary product. For those who don’t know, it is a provider of high-precision map services in the navigation and electronic mapping industry. 

“We are very pleased to announce the closing of this transaction, which is the result of hard-won efforts for the team at both EMG and Luokung. This is a significant milestone in the Company’s history as we have created one company with technologies and a product portfolio that will provide us with a clear competitive advantage in the fields of autonomous driving, smart electric vehicles, intelligent transportation, and smart cities.”

The CEO of Luokung, Mr. Xuesong Song

So with all of this in mind, will LKCO be on your penny stock watchlist?

Penny_Stocks_to_Watch_Luokung Technology Corp. (LKCO Stock Chart)

Safe Bulkers Inc. (NYSE: SB) 

If you read pennystocks.com regularly, you’ve probably seen us mention Safe Bulkers Inc. If not, SB is as its name suggests, a dry-bulk shipping company. On April 30th, shares of SB pushed up by around 12%. While many sizable gains occur without news, Safe Bulkers announced that it had set its earnings date for its Q1 2021 financial results. The results will be released on Wednesday, May 5th. Ahead of this, analysts have stated that they expect the company to post some solid numbers. 

Part of this has to do with the overall bullish interest in shipping right now. The Baltic Exchange Dry Index (BDI) has more than doubled from where it was at the beginning of the year. This is an index that tracks the rates of shipping internationally, and specifically to dry bulk transport. In March alone, the BDI managed to push up by around 43.5%, which is a very large gain. Because this is a direct correlation to the income that Safe Bulkers receives, many investors are excited about its upcoming results. 

Now, this does not imply any guarantee around whether or not SB will beat earnings expectations. But, it is a promising factor to consider. As it pertains to Safe Bulkers, analysts believe that the company will overcome its prior-year loss, and then post a $0.10 EPS. This could come alongside 27% sales growth and more than $57 million in revenue. Considering all of this, it makes sense that there is so much bullish interest surrounding SB stock right now. But, is it right for your watchlist?

Penny_Stocks_to_Watch_Safe Bulkers Inc. (SB Stock Chart)

Outlook Therapeutics Inc. (NASDAQ: OTLK) 

Different from the others on this list, OTLK is a late-stage clinical biopharmaceutical company. As a biotech penny stock, OTLK has seen major momentum over the past year. Despite not developing anything related to Covid, the company has become synonymous with Covid-related industry growth. Right now, it is developing ONS-5010 (LYTENAVA). This could become the first FDA-approved ophthalmic formulation of bevacizumab-vikg for use in retinal-related treatments. 

While it isn’t approved by the FDA yet, the company believes strongly that it could in the future. If so, it could be a major game-changer for treating retinal illnesses in the U.S., the U.K., Japan, and Europe among other markets. It states that it will be filing a BLA with the FDA very soon. A few weeks ago, the company announced highly encouraging safety data from the NORSE THREE open-label safety study for ONS-5010. 

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Mark Humayun, the Medical Advisor at Outlook Therapeutics, stated that “the additional validation of the ONS-5010 safety profile seen in the results of this study, which match up favorably with historic data from prior studies of bevacizumab in ophthalmology, is very encouraging. ONS-5010 has the potential to be a valuable therapeutic addition to the clinical practice of retina physicians.”

By the end of this year, the company should have topline data from this efficacy study. Whether or not this information makes OTLK a penny stock to watch is up to you. 

Penny_Stocks_to_Watch_Outlook Therapeutics Inc. (OTLK Stock Chart)

Are These Penny Stocks Right For You?

At the end of the day, penny stocks aren’t right for everyone. However, the potential for seeing swift intraday gains are often, much greater than with blue chips. As stated above, it’s extremely important to consider all of the information that you can find, before completing your penny stock watchlist.

Additionally, because there are so many penny stocks on Robinhood and other accessible brokerages, buying shares has never been easier. With all of this in mind, are these penny stocks right for you?

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