These Penny Stocks Continue to See Momentum as DogeCoin Smashes Records

With penny stocks back in focus, investors are constantly looking for the best ones to watch. Now, as Cinco De Mayo is upon us, which penny stocks are showing heightened interest? For one, we are seeing a lot of momentum right now as a result of DogeCoin continuing to reach new highs. 

Now, it’s hard at first to make a comparison between something as unique as cryptocurrency and investing in penny stocks. However, given that the two are relatively cheap assets (except for Bitcoin and a few others), often bullish sentiment can reflect itself in one another. 

What’s more is that over the past few months, we’ve seen lower than average volume across the stock market. And this has meant that penny stocks have been more stable than usual. However, now, are seeing a return of the volatility that penny stock investors know and love.

[Read More] 3 Hot Penny Stocks To Buy With Analysts Expecting Up To 383%

 So, when compiling a list of penny stocks, we have to consider all of the external and internal factors that could impact the market and an individual company. This is the best way to ensure that your portfolio has a high chance of seeing profits. 

Additionally, it’s more than beneficial to get a trading education. This will help you to understand what different price movements mean and how you can take advantage of them. 

In May, there are already some trends in the market that investors should look out for. This includes trends with biotech stocks, tech stocks, and of course cryptocurrency. Considering all of this, let’s take a look at three hot penny stocks to watch right now. 

3 Hot Penny Stocks to Watch Right Now 

  1. Farmmi Inc. (NASDAQ: FAMI
  2. Ault Global Holdings Inc. (NYSE: DPW
  3. Chiasma Inc. (NASDAQ: CHMA

Farmmi Inc. (NASDAQ: FAMI) 

While you may not have heard of FAMI stock, the company has been making some big moves as of late. Based in Zhejiang, China, Farmmi Inc. is a producer of retailer of agricultural products. This specifically includes a range of mushrooms including Mu Er mushrooms, Shiitake mushrooms, and other types of edible fungi. 

Early on Wednesday, May 5th, the company announced a multi-product order for export to Japan. This order will include its high-quality dried mushrooms. Interestingly enough, this is also a repeat order from an existing customer based in Japan.

And while this may seem like a small deal, it is indicative of the larger global demand for the products that Farmmi offers. Over the past year or so, unique types of mushrooms have become mainstream offerings. This includes the utility of mushrooms as both a food source and a health/wellness product. 

“As a major company in the mushroom industry, we have been big proponents of the culinary delights, and the many potential wellness benefits, such as vitamins and nutrient-rich food that can [be brought] to a healthy lifestyle.

We are pleased to see mushrooms now taking an even more prominent role in restaurants, households, and wellness centers, as the prioritization of healthier lifestyles drives increased sales and demand.” 

Chairwoman and CEO of Farmmi, Ms. Yefang Zhang

While the announcement above may not be a be-all-end-all deal, it is illustrating the wider adoption of FAMIs products. Whether this makes it a penny stock to watch or not is up to you. 

Penny_Stocks_to_Watch_Farmmi Inc. (FAMI Stock Chart)

Ault Global Holdings Inc. (NYSE: DPW) 

Up by over 20% during pre-market is Ault Global Holdings Inc. We’ve covered DPW stock quite a few times in the past month alone. And, a lot of this has been based on its preliminary Q1 financial results which were released on Cinco De Mayo during pre-market hours. Before we get into them, let’s take a closer look at DPW.

Ault Global works through its subsidiaries to invest in companies with disruptive technologies. Its investments span a broad range of industries such as telecom, automotive, industrial, defense, aerospace, biotech, and even textiles. 

In the first quarter of 2021, which ended on March 31st, Ault reported revenue of $13 million. This is a massive 132% increase over the previous year’s first quarter. Additionally, the company can be considered a blockchain penny stock as mining cryptocurrency is a part of its operations.

[Read More] Best Penny Stocks To Buy As Cryptocurrencies Boom? 3 To Watch In 2021

During the quarter, the company brought in around $130,000 in revenue from cryptocurrency mining. Under the current management, this quarter’s net income of around $1.5 million, represents its first profitable period. 

Founder and Executive Chairman, Milton Ault, III, stated that “our positive financial results in the first quarter of 2021 result from years of strategic planning. During this time, we have strengthened our operation businesses, funded Digital Power Lending, our financial services subsidiary, and improved our balance sheet tremendously. We are pleased to report significant revenue growth and are optimistic of the long-term potential of Digital Power Lending.” Considering these exciting results during the pandemic is DPW on your penny stock watchlist. 

Penny_Stocks_to_Watch_Ault Global Holdings Inc. (DPW Stock Chart)

Chiasma Inc. (NASDAQ: CHMA) 

In a deal announced today, shares of CHMA shot up by over 40% during pre-market hours. So, what exactly is this deal? Well, on May 5th Chiasma announced that Amryt Pharma (NASDAQ: AMYT) had agreed to acquire it in an all-stock deal. Amryt is working hard to grow its revenue and believes that this transaction should push its cost synergies up to over $50 million per year. 

The CEO of Amryt, Dr. Joe Wiley, stated that “this deal further solidifies our position as a global leader in treating rare and orphan conditions.” With this combined business, the pair will have three commercially available compounds. This means that it could have a pathway to seeing $1 billion in peak revenue. Additionally, the compound Oleogel-S10 is going through regulatory approvals in both Europe and the U.S., which could bring its approved compound list to 4. 

“The merger with Amryt allows the combined company to significantly leverage the operational efficiencies in successfully commercializing MYCAPSSA globally and expanding the potential benefits of MYCAPSSA to other patients with unmet needs.

The combined business has significant potential to further enhance shareholder value with a diversified portfolio of both marketed products and a meaningful late-stage pipeline that could potentially drive future growth opportunities.” 

Raj Kannan, CEO of Chiasma

While mergers like this are not rare by any means, they are always an interesting prospect for investors to consider. With this in mind, is CHMA stock worth watching?

Penny_Stocks_to_Watch_Chiasma Inc. (CHMA Stock Chart)

Are These Penny Stocks Worth It?

At the end of the day, finding penny stocks to buy can be a difficult challenge. With hundreds if not thousands to choose from, building a watchlist takes time and dedication. While the companies mentioned above are only a few showing solid potential, there are plenty of options for all types of investors.

[Read More] Hot Penny Stocks On Robinhood to Watch This Week

Considering that so many are investing in penny stocks via Robinhood or other platforms, these assets are more popular than ever. With all of this in mind, are these penny stocks worth it?


Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like