If You’re Making a List of Penny Stocks, Consider These 3
Making a list of penny stocks to buy can be challenging. But, with proper research at hand and a commitment to finding the best penny stocks to watch, it can be much easier than previously imagined. Considering that there are thousands of penny stocks out there, picking just a handful for your portfolio will take a lot of narrowing down.
In 2021, there are plenty of factors that only serve to increase this volatility. This includes the pandemic, rising inflation rates, and the effect of cryptocurrency on small caps.
It may seem like a lot to keep track of at once, but taking investing seriously is all about education and commitment. Also, understanding that speculation is key will help to guide your strategy. There is a difference between major and minor events and both of these can have a large speculative effect. Additionally, that difference will help to show what the trajectory of certain stocks under $5 will be.
How to Pick Penny Stocks To Buy
The best way to begin this process is by considering what type of investor you are. Are you in it for the short term or are you looking for longer-term plays? This question alone can help to dwindle your list into either more or less volatile penny stocks.
It’s worth noting that all penny stocks fluctuate greatly to some degree. This is simply something that comes with the territory. However, if you do the proper due diligence, you can find ones that fit your investing style.[Read More] 3 Penny Stocks To Buy According To Analysts; 100%-290% Price Targets
Investors should also understand that taking profit is an important step. We’ve covered this plenty of times in the ‘Penny Stocks For Beginners‘ section, however, it is an extremely important principle. This involves knowing your entrance and exit points and setting a price target before pressing buy.
Additionally, getting FOMO or the fear of missing out can be a portfolio killer. this means buying in when a penny stock has already risen in value, hoping to get in early. But, this usually results in swift and large losses.
Considering all of this, which penny stocks are the best to buy this week? That’s a tough question to answer simply. But, for some watchlist inspiration, here are three you may want to check out for your watchlist.
3 Penny Stocks to Watch This Week
- Astrotech Corporation (NASDAQ: ASTC)
- Chico’s FAS Inc. (NYSE: CHS)
- Oncternal Therapeutics Inc. (NASDAQ: ONTC)
1. Astrotech Corporation (NASDAQ: ASTC)
Astrotech Corp. is an interesting penny stock working at the intersection of science and tech. It has two sections of its business that it operates within. The first segment is the 1st Detect Corporation that manufactures explosives and narcotics trace detectors.
These products are used in airports, secured facilities, and borders. Its AgLAB Inc. segment develops a mass spectrometer for use in the agriculture market for process control and detecting trace amounts of pesticides.
On May 13th, Astrotech released its third-quarter financial results. Chairman and CEO Thomas B. Pickens III said, “With the resources to scale quickly and meet significant potential demand as we commercialize our products, we believe we are well-positioned to explore opportunities for growth that were not available to us prior to raising this additional capital.”
The company reported strength in its balance sheet and managed to raise more than $50 million in total proceeds. It also expects sales to ramp up for multiple products in its lineup at the moment. Astrotech has partnerships with Sanmina and Cleveland Clinic which are both leaders in their respective industrials. With positive stock market performance and advancements, will ASTC make it onto your list of penny stocks to watch?
2. Chico’s FAS Inc. (NYSE: CHS)
Chico’s FAS Inc. is a penny stock we have discussed previously on several occasions. If you are not up to speed, Chico’s is a retail company that sells women’s clothing, intimates, and accessories. It operates under the Chico’s, White House Black Market, Soma, and TellTale brands. The company owns more than 1,302 stores in the U.S., U.S.V.I., and Puerto Rico.
Reopening penny stocks have been among the top gainers in the market recently. As COVID-19 restrictions loosen all over the United States, retail is seeing a boom like never before.[Read More] 5 Penny Stocks Analysts Say To Buy With Targets Up To 219% Right Now
People are going out and shopping more than ever, without reduced capacity in most places. It is expected that a more widespread reopening plan will take place in June, with states around the country allowing vaccinated people to not wear masks in any circumstances.
At least 49% of the U.S. population has had at least one dose of a vaccine, and this number is growing in the millions every month. Chico’s FAS Inc. will be holding a conference call for its first-quarter sales and earnings on Tuesday, June 8th, 2021. Investors should keep this in mind to understand what could occur with CHS stock in the coming months. With all of this in mind, will you invest in this reopening penny stock?
3. Oncternal Therapeutics Inc. (NASDAQ: ONCT)
Oncternal Therapeutics Inc. is a clinical-stage biotech penny stock that develops oncology therapies for cancer that have critical unmet needs. One of its primary candidates is cirmtuzumab which is a Phase 1/2 investigational monoclonal antibody to treat patients with B-cell lymphoid malignancies. It has a variety of other candidate products as well. But why is ONCT stock increasing in price?
Oncternal’s latest update comes from May 19th when it presented updated interim data for TK216 in patients with relapsed or refractory Ewing sarcoma in an oral session. The data is encouraging and consistent with previous results, and two patients achieved a complete response remain with no evidence of disease.
This data will be presented at the ASCO 2021 Annual Meeting on June 4th. Dr. Joseph Ludwid, M.D. Department of Sarcoma Medical Oncology, Division of Cancer Medicine said, “I am optimistic about the durable disease control observed in the two heavily pre-treated metastatic patients with Ewing sarcoma, and that both tolerated their treatments with TK216 with or without vincristine well.”
With these advancements in mind, and ONCT growth in the last 6 months, will you invest in this penny stock?
Which Penny Stocks Are You Watching?
Creating a competitive penny stocks watchlist is all about knowing where to find value. Because there are so many intraday spikes with penny stocks, it’s easy to seek out opportunities in the stock market right now.[Read More] Trading Penny Stocks? 3 Biotech Stocks To Watch Before June 2021
But, investors need to do proper research and educate themselves on how to trade. This is the best way to ensure that you know exactly what you are doing and what a stock could do. Considering this, which penny stocks are you watching?