4 Penny Stocks To Watch In Summer 2021
Can penny stocks make you rich? This is a question that a lot of those wanting to get into penny stocks ask themselves. And the short answer is yes. But, not in the way that you think. Investing in penny stocks is not like winning the lottery. Buying penny stocks is all about doing the proper research and committing to a strategy. And like anything, it takes time, patience, and an education.
You wouldn’t get into an airplane and expect to know how to take off, so why would investing in penny stocks be any different? The most profitable traders tend to be the ones with the most information at hand. And, with the internet available to all, finding out the news, analyst recommendations, corporate filings, and balance sheets, has never been easier. So, while penny stocks have the ability to make you rich, this is a process that takes both time and experience.
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In 2021, most on the list of penny stocks have seen high volatility. This is indicative of the overall stock market and the uncertain trajectory of the future. But, with Covid cases on the decline and vaccine rates at an all-time high, investors are hopeful about the coming months. Considering all of this, here are four penny stocks to watch in Summer 2021.
4 Penny Stocks to Watch in Summer 2021
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Precipio Inc. (NASDAQ: PRPO)
- LightPath Technologies Inc. (NASDAQ: LPTH)
- Ideanomics Inc. (NASDAQ: IDEX)
1. Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures Inc. is a retail penny stock that is performing well right now. The company works in many markets through its retail partners. Some of its offerings include consumer product research and development, manufacturing, sales, and fulfillment.
Vinco offers toys, plush, electronics, and home items to retailers and distributers via e-commerce. This all takes place in North America, Europe, and the Asia Pacific. The other part of Vinco’s business is selling personal protective equipment to government agencies, hospitals, and distributors. This has become more prominent in the past year and a half due to the effects of the pandemic.
Vinco Ventures just released two updates that may be causing the recent bullish momentum we’re seeing with BBIG stock. Let’s first talk about May 28th, when the company released an update on the acquisition of Lomotif and its merger with ZASH Global Media and Entertainment. The parties intend to sign a final agreement and plan of merger and reorganization on or before June 24th. This is big news as mergers always are exciting for both the company and investors alike. While the deal is not fully completed, the update provides a June 24th final agreement date.
On May 25th the company reported its financial results for the first quarter of 2021. Its revenue increased by more than 31% year over year. Additionally, its gross profit managed to increase alongside this large revenue uptick. BBIG stock has gone up by more than 40% since these results were reported. Its volume is also vastly exceeding its average, at more than 4.7 times higher right now. With all of this info in mind, will BBIG make your list of penny stocks to watch?
2. Precipio Inc. (NASDAQ: PRPO)
In the past few months, biotech stocks like Precipio Inc. have become very popular due to the effects of SARS-CoV-2. As we all know, many companies working on a Covid vaccine or treatment have come into the public sphere. This has resulted in billions in capital flooding into biotech companies of all types and sizes. And, as the pandemic lessens in severity, many investors are turning their focus toward companies that may not be working on a Covid-related product.
For some context, Precipio is a biotech company working on cancer diagnostics and reagent technology. Its oncology products include clinical diagnostic services and more. Additionally, its cytogenetics media IV-Cell allows labs to get more accurate results, reducing error in this side of the disease testing field.
And, it offers a product known as the home screen panel which gives hospitals and labs the ability to run genetic mutation testing. This allows for rapid diagnostics of diseases before they show up in other tests. Lastly, Precipio produces an ICE-COLD-PCR which enables the detection of abnormalities in blood samples.
On June 8th the company launched its HemeScreen Anemia Panel, which is a one-of-a-kind testing tool aimed at identifying anemia in patients. It will help physicians address different types of ailments when a cause cannot be identified.
For those unfamiliar, the HemeScreen Anemia Panel is a blood test that identifies molecular genetic errors that point to fatal acute leukemia. On the day of this announcement, PRPO stock is up 19%, which is quite a substantial gain. Considering this exciting advancement, will PRPO make it onto your penny stocks watchlist?
3. LightPath Technologies Inc. (NASDAQ: LPTH)
LightPath Technologies Inc. is a tech penny stock that creates optical components and assemblies. It is involved in the design, development, manufacturing, and distribution of these products. Some of its offerings include precision molded glass aspheric optics, aspheric lenses, and other optical components. These are used in the fields of defense, medical, industrial, automotive, and many more.
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On May 18th LightPath announced that it will be participating in NASA’s Jet Propulsion Laboratory’s Mars exploration program. Optical elements manufactured by its subsidiary ISP Optics will be used in the NASA Science Exploration Program. This is a major deal as it shows both the potential of its products and the utility that it can offer on even the most advanced project.
“LightPath is proud to have our optical solutions supporting other missions aboard the International Space Station, the Space Shuttle, and numerous satellites. Our corporate location, in the middle of Central Florida’s Space Coast, is quite conducive to our increasing presence in outer space.
Working collaboratively with the University of Central Florida’s CREOL, LightPath is accelerating innovative solutions to match the rapid pace and rigorous demands of space exploration.”
The CEO of LightPath Technologies, Sam Rubin
LPTH stock price has skyrocketed since this announcement was made. On June 3rd, LPTH was at $2.30 per share on average. As of June 8th, this tech penny stock is worth $3.14 per share at EOD. With all of this in mind, is LPTH a candidate for your list of penny stocks to watch?
4. Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is an electric vehicle penny stock focused on the adoption of EV technology. The company’s mobility division facilitates the adoption of electric vehicles by commercial corporations. It also provides solutions for procurement, charging, energy management, and financing for these vehicles.
It’s Ideanomics Capital division provides fintech services that allow businesses easier operational capacity and higher chances for profitability. Both of its divisions help to make up what many consider, a very broad company. And, because of this, it seems like Ideanomics has a lot to offer traders of all types. On June 8th the company announced that it will present at the LD Micro Invitational XI on June 10th.
“The Ideanomics Mobility ecosystem of EV-centric subsidiaries represents the future of the commercial EV sector. We look forward to sharing recent learnings with peers and colleagues from around the world at LD Micro Invitational in the interest of driving the bright future of electric vehicle technology forward.”
CFO of Ideanomics, Conor McCarthy
Ahead of this conference, IDEX stock is up by around 2.7% to $3.16 per share on June 8th. Just one month ago, IDEX stock was at $2.50, showing how much bullish sentiment there is for IDEX. While this is not near its February highs of over $5, this recent performance shows that there could be a lot of potential for the company. Additionally, its placement in the EV market could help to propel it into the future.
Are Penny Stocks Worth It?
Whether or not penny stocks are worth it is up to you. At the end of the day, buying and selling stocks under $5 comes down to what type of trader and what your investing goals are. Figuring this out can be the difference between profits and losses in a very short period.
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While investing in 2021 is not easy, there are plenty of penny stocks showing potential. With the right trading education and a commitment to learning, finding them can be easier than previously imagined.
