4 Tech Penny Stocks That You Should Know About
There are three main types of penny stocks trading strategies, and each investor can use a different one to their advantage. These strategies are typically referred to as either conservative, moderate, or aggressive and can be determined by the type of stocks and risk associated.
Many domestic and international bonds are considered conservative due to their low price fluctuations, while penny stocks are considered more aggressive.
With penny stock investing, the risk is always an associated factor due to their low volume and high speculative nature. This drives much volatility in price and is used as a financial tool by investors during irregular periods in the market.
Currently, tech penny stocks are proving to be a very lucrative investment. As the tech boom we have been experiencing throughout the pandemic continues, there is a lot of buzz around the industry.
With constant innovation and improvement, growth is inevitable from the technology sector. It is common to see acquisitions and mergers amongst small and large companies alike.
To remain competitive, many companies are continuously seeking new products, unlike many other industries. Tech penny stocks can offer large financial incentives for early investors, as many tend to break out from the $5 range.[Read More] Best Penny Stocks to Invest in 2021? Here’s 3 To Check Out
In today’s day and age, we rely heavily on technology. This includes everything from electric vehicles to smartphones and more. Because of this, most companies on the wide list of penny stocks that work in tech have seen momentum. As this trend continues we must ask ourselves two things.
First, what penny stocks to buy have the most potential in the future? And second, what type of risk are you prepared to take on? Considering all of this, here are four tech penny stocks that you should add to your penny stock watchlist this month.
4 Tech Penny Stocks to Watch
- ZW Data Action Technologies Inc. (NASDAQ: CNET)
- Super League Gaming, Inc. (NASDAQ: SLGG)
- Senseonics Holdings Inc. (NYSE: SENS)
- Globalstar, Inc. (NYSE: GSAT)
1. ZW Data Action Technologies Inc. (NASDAQ: CNET)
When looking at tech penny stocks, it’s important to consider past performance. With a gain of over 120% this year and a peak gain of nearly 700%, ZW Data Action Technologies should be on your watchlist.
With growth occurring since its establishment in 2003, CNET specializes in advertising, precision market, and data analytics. This allows it to deliver fully original, results-driven business solutions for its clients. These clients are mostly small and medium-sized companies.
CNET is headquartered in Beijing, China but operates across the country. Recently, it has developed blockchain technology and artificial intelligence integrated web and mobile applications. This opens up a whole new market for software solutions for its clients.
Since December 31st, 2020, CNET has increased its initial cash equivalents of $4.30 million to $15.79 million. It has also gained more clients and popularity in the digital advertising space. Considering this, do you think CNET should be on your May or June watchlist?
2. Super League Gaming, Inc. (NASDAQ: SLGG)
Over the past year, Super League Gaming has seen an almost 45% increase in stock value, touching a price per share of almost $10.50 in mid-March. Amongst the tech penny stocks to watch, SLGG specializes in amateur E-sports and cloud-based services, a rapidly growing market. Through its business model, it offers theater gaming, cloud, and team gaming platforms for everyone to enjoy.
Founded in 2014, SLGG has its headquarters in Santa Monica, one of the up-and-coming places for professionals and non-professional gamers alike. Powered by patented technology, SLGG has the goal to build an international inclusive brand at the junction of gaming, experiences, and entertainment.
The plan is to achieve this through the use of a direct audience or company-produced content production and virtual events. This will be done in conjunction with third parties that include video game publishers, event promoters, and television companies.
“We have demonstrated the growing power of our platform for bringing competitive gamers together and generating compelling content.
More importantly, the pending acquisition of Mobcrush represents a truly transformative move that we believe will dramatically broaden our revenue opportunities and our ability to accelerate growth. Our future has never been brighter.”CEO of SLGG, Ann Hand
Considering this and its role in the Esports market, will Super League Gaming be on your penny stocks watchlist?
3. Senseonics Holdings Inc. (NYSE: SENS)
Another tech penny stock that is a must-add to your watchlist is Senseonics. SENS is a tech penny stock founded in 2014. Its operations include the design, development, and commercialization of implantable glucose monitors for patients with diabetes. Its most recently released product, the Eversense, is a glucose monitoring device that includes a sensor and a transmitter all attached to a mobile app.[Read More] Penny Stocks to Buy? 3 That WallStreetBets Won’t Stop Talking About
Patients with diabetes have a constant struggle with maintaining their insulin and glucose ratio. Through new technologies such as Eversense, it makes it easier for many to live with this condition. This is because it relieves a large amount of stress while also easing treatment. This is encouraging for many investors, which has led to SENS’s share price increasing by over 350% this year alone.
SENS has generated $15 million in sales already in 2021. By 2025 it predicts that its annual revenue will be between $150 – $200 million. With 34.2 million people in the U.S. living with diabetes according to the Diabetes Research Institute, these numbers could be in line. Currently, its market cap sits at $900 million, but with increased innovation and upscaling, SENS is a tech penny stock to keep an eye on. What do you think?
4. Globalstar, Inc. (NYSE: GSAT)
Today, SPOT LLC, a subsidiary of Globalstar, announced a merger with Desert Vets Racing (DVR). SPOT is a leader in emergency notification and satellite message technologies.
Additionally, it works with Desert Vets Racing, which is an off-road racing organization for veterans. Through this partnership, SPOT will provide DVR with high-end communication capabilities. In addition, its products will aid in driver safety. this is necessary while off-road racing in areas with poor connectivity.
“The partnership with Desert Vets Racing is a great fit for SPOT as we are able to provide reliable communication and connectivity. The organization has a great mission and SPOT is proud to help keep these impressive individuals safe while they are doing something to help better their lives while having a lot of fun.”CEO of GSAT, Dave Kagan
With this in mind, will you add Globalstar to your list of penny stocks to buy?
Tech Penny Stocks: Worth it Or Not?
Technologies can engage in many different components of our lives. From the implications of improving living conditions to providing entertainment, this industry has no bounds. Tech penny stocks are a way to get involved in this technological advancement.[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets
By investing in tech penny stocks with exceptional business models and products, investors can play mutually beneficial roles in a company’s growth. Moving into later May and June, it’s important to keep up to date with penny stocks and keep adding tech penny stocks like these to your watchlist.