3 Top Penny Stocks to Watch in May 2021 

With May coming to a close, penny stocks remain highly volatile. While penny stocks do somewhat follow the broader stock market, they often can trade independently of one another.

But, it’s important to always stay up to date on what’s happening in the market. This is one of the greatest ways to find the best penny stocks to buy. Additionally, it is prudent to make a penny stocks watchlist. This can help to keep track of which companies are worth investing in now, and which ones could be later on. 

While trading has not been the greatest over the past two weeks or so, many believe that we could be nearing the bottom. This is the natural ebb and flow of the market that we see regularly.

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Today, Bitcoin dropped below $40,000, and the Dow ended the day down around 160 points. This is one of the least bullish days that we’ve seen in the past few weeks, and for that reason, we could see a rebound as investors buy the dip. 

So, with this in mind, plenty of penny stocks are still showing value. But, it’s all about knowing where to look. So, when making a penny stocks watchlist in May 2021, consider all of the factors that are currently at play. Additionally, investors need to understand what companies and industries will do in the long term. With this in mind, here are three penny stocks to watch right now. 

3 Penny Stocks to Watch in 2021 

  1. Seelos Therapeutics Inc. (NASDAQ: SEEL
  2. U.S. Well Services Inc. (NASDAQ: USWS)
  3. 22nd Century Group Inc. (NYSE: XXII

1. Seelos Therapeutics Inc. (NASDAQ: SEEL)

Seelos Therapeutics is a biotech penny stock that focuses on the development and commercialization of novel technologies and therapeutics. These developments are used to treat the central nervous system, respiratory, and other disorders.

One of its lead programs is SLS-002 and SLS-005 which treat acute suicidal ideation and lateral sclerosis respectively. It has a variety of other treatments too, including those aimed at treating Parkinson’s disease.

So what has Seelos been up to recently? Seelos just announced an underwritten public offering of common stock. The net proceeds will be used to repay certain outstanding convertible promissory notes and the rest for general corporate purposes. This is a big announcement to keep in mind as it could reflect positively on Seelos’ balance sheet. 

The company also announced positive topline data from the open-label study of its SLS-002 drug. It showed a well-tolerated safety profile and significant treatment effects in patients with major depressive disorder.

“These are trying times in our battle against the suicide epidemic, which has been exacerbated by the COVID-19 global pandemic, and SLS-002 could create a paradigm shift allowing better treatment for these patients.”

The CEO and Chairman of Seelos, Raj Mehra

SEEL stock is up 2.5% in the market following its recent updates. Considering this, is SEEL stock worth watching?


2. U.S. Well Services Inc. (NASDAQ: USWS)

Oil and gas penny stocks like U.S. Well Services Inc. are performing well in the market at the moment. This is a company that provides hydraulic fracturing services to oil and natural gas exploration and production companies. With vaccine rates higher than ever, more people are going out and traveling. This means that the demand for fuel could increase in the coming weeks to months. 

On May 17th the company reported its first-quarter financial and operational results. It averaged 8.8 fully-utilized fleets compared to 5.3 fleets quarter over quarter. Its total revenue was $76.3 million vs. $48.1 million quarter over quarter. Its net loss fell quarter over quarter, and its adjusted EBITDA grew too. This positive performance is part of the reason that USWS stock price is up 6% at the moment.

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The company did face some challenges despite these positive results. Joel Broussard, the President and CEO of U.S. Well Services said, “Our operations in Texas were impacted by the severe winter storm in February that resulted in an average of seven days of lost work for seven of our active fleets. In spite of these challenges, our team performed exceptionally, delivering best-in-class service for our customers.” 

The company also just announced a partnership with Northeast Natural Energy for Clean Fleet Trial. With all of this in its pipeline, will USWS be on your penny stocks watchlist?


3. 22nd Century Group Inc. (NYSE: XXII)

22nd Century Group Inc. is a biotech penny stock that develops plant-based solutions for the life science, consumer, and pharmaceutical markets. Its low nicotine content tobacco and cigarette products under the Moonlight brand are very popular for the company and consumers alike. The company also has a collaboration agreement with Keygene N.V. to develop hemp and cannabis plants for cannabinoid profiles. These will be put to use for medical, therapeutic, and agricultural purposes.

On May 6th the company released its business highlights and financial results for the first quarter of 2021. The company stated, “The significant increase in the Company’s share price since reporting fourth-quarter 2020 results in March 2021 is a testament 22nd Century’s commitment to its shareholders.” With this, we see that the company is focused on its future and producing more products at the moment.

The company’s net sales revenue fell year over year but this didn’t have a major effect on investor sentiment. XXII stock price has increased by 16% in the last 5 days. This company has seen significant growth in the last year going from under $1 a share to nearly exiting penny stock status. So with all of this information in mind, will you invest in XXII stock?


Are These Penny Stocks Worth Watching?

At the end of the day, finding the best penny stocks to watch comes down to you and your portfolio. While not all penny stocks will always be winners, finding just a few can make or break a given trading day. 

Before investing, it’s important to understand which type of investor you are. Are you looking to make short-term gains? Or are you more in it for the long term?

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These questions alone can help to narrow down your watchlist by a large amount. And with the current state of the market, finding penny stocks that could be undervalued, is easier than ever. 

With the dip hopefully coming to an end soon, now is the time to search for the best penny stocks to buy. With all of this in mind, are these penny stocks worth watching?

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