3 Tech Penny Stocks to Watch This Summer

As we move deeper into the month of June, it’s important to start considering which penny stocks you’ll want to invest in during the Summer months. There is a well-known seasonal weakness that occurs between May and late October. The phrase “Sell in May and Go Away,” is commonly heard, also known as the “Halloween Indicator.” This phrase refers to the average gain of 6.9% seen in the S&P 500 from Halloween to May vs. the 1.3% gain during the other half of the year. 

Considering this, utilizing investing strategies can help to take advantage of these seasonal patterns. It’s common for investors to use this period as an opportunity to diversify their portfolios.

Investing in penny stocks for example can be a compelling strategy for many. Small-caps offer both a high potential for return, as well as a large variety of options. Specific sectors such as tech and biotech, are well known for year-round product development. 

Investing in Tech Penny Stocks

The growth and transformation of the technology market this past year is something we have not witnessed ever before. During the pandemic, many new products have come out, and new software has emerged to help the massive work-from-home trend. This is fueled by the sector’s highly competitive nature.

In general, with societies’ need for evolving tech, the market is one of the largest and broadest out there. For example, we are only just discovering the potential of new tech such as blockchain, machine learning, and artificial intelligence. 

Penny stocks in this sector have high volatility because of the fast-paced nature of the industry. As we know, speculation can play a large role in price fluctuation. When looking into penny stocks to watch there are a few important factors to consider. First, is there any recent news about the company?

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Keeping up to date with press releases as well as company reports is a crucial component of investing. It informs us about progress as well as future company goals. Next, the importance of earnings reports cannot be underestimated. These reports inform investors about the financial standing of a company. This includes its amount of debt, profitability margins, and helps track progression from previous years.

Tech penny stocks in the coming summer months should not be ignored. Of course, there is always associated risk with investing, especially when considering penny stocks. However, high volatility along with continuous innovation can make technology penny stocks a highly lucrative opportunity. Given this, here are three tech penny stocks that should be on your watchlist. 

3 Tech Penny Stocks For Your Summer Watchlist

  1. Ideanomics Inc. (NASDAQ: IDEX)
  3. GTT Communications Inc. (NYSE: GTT)

Ideanomics Inc. (NASDAQ: IDEX)

Ideanomics Inc. is a tech penny stock that we’ve covered numerous times in the past few months. It is considered a disruptive company that operates in both the environmental and financial sectors. The IDEX Mobility division is a catalyst for the adoption of electric vehicles (EV) by commercial fleet operators.

Its business model operates by procuring, financing, and leasing electric vehicles. Another component of the company is Ideanomics Capital. This part of the company is focused on disruptive fintech solutions that work in the financial services industry.

Together both sectors are known as international operators, helping both partners and clients alike to stay up to date with the latest technologies. Not only does this offer a competitive edge to those it works with, but improves transparency and accountability, both of which are key for shareholder trust. Recently, a subsidiary of IDEX, WAVE added Twin Transit Authority (TTA) in Chehalis, Washington to its growing list of transit fleet customers.

“By making high-power range extension faster, easier, and safer than legacy charging solutions, WAVE can enable a single electric bus to cover the longest of routes with minimal impact on normal operations.

We look forward to expanding awareness of this game-changing new inductive charging platform and encouraging other transit agencies to follow Twin Transit’s lead and help America reach its carbon zero goals.”

WAVE CEO, Mike Masquelier

Considering this big move, will IDEX stock be on your watchlist?

Penny_Stocks_to_Watch_Ideanomics Inc. (IDEX Stock Chart)


Another tech penny stock on today’s list is MICT. This business mostly operates through its subsidiary companies, GFH Intermediate Holdings Ltd., GFHI, and Micronet Ltd. (Micronet). GFHI specializes in online brokerage for trading equities, wealth management, and selling insurance products.

It operates in high-growth international markets such as Asia and others. Worth considering is the fact that Micronet is a computing solutions business. It, not only designs, develops, and manufactures computing systems, but it also sells them to fleet operators. 

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As of today, MICT announced that its Board of Directors approved a $60 million investment into its wholly-owned subsidiary Magpie Securities. Magpie is an operator of the MICT’s online stock trading platform from Hong Kong. 

“With the upcoming launch of our mobile stock trading app, the $60 million investment in Magpie will properly capitalize the business to support our ambitious growth plans and provide the ability to offer competitive margin and IPO funding to our underlying customers.”

MICT’s CEO, Darren Mercer

MICT stock continues to have a major role in the budding tech industry. Because of how broad it is, many investors believe in a strong future for MICT Inc. With this information in mind, will it make your list of penny stocks to buy?

Penny_Stocks_to_Watch_MICT Inc. (MICT Stock Chart)

GTT Communications Inc. (NYSE: GTT)

The last tech penny stock on today’s list is GTT Communications. This company focuses its efforts on providing its clients with cloud networking services. These types of services can be extremely beneficial to company performance.

By automating workloads through cloud-based data accumulation and software, its worldwide pool of clientele can optimize business performance. Not only does it provide cloud services, but GTT also offers internet, private networking, software-defined wide-area networking, and optical transport. 

Headquartered in Tysons, Virginia, GTT uses a Tier 1 IP network to provide transport and infrastructure services. Its business also includes voice and video services, SD-WAN, and managed services. As a company working to further the technological capabilities of other businesses, GTT has large potential in the foreseeable future. This speculation is most likely the reason for the high gains with its stock price last week. 

Penny_Stocks_to_Watch_GTT Communications Inc. (GTT Stock Chart)

Tech Penny Stocks Continue to See Growth

This slower period from October to May offers an opportunity for investors to seek out shorter-term and more volatile investments. This is inclusive of the penny stocks, as its typical high volume can result in large spikes in trading activity during this period. This is particularly true when it comes to tech. 

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As tech companies continue to improve, it’s hard not to get excited about the future of the sector as a whole. With a high demand for competition and quality products, growth is inevitable. What do you think of this list of penny stocks? Which companies will you be adding to your June watchlist?

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