10 Penny Stocks to Watch With AMC Stock Back in Focus
In a recent pennystocks.com article, we covered 5 Penny Stocks on Reddit for Your June 2021 Watchlist. This piece is a continuation, as more and more valuable penny stocks continue to come to light. Right now, there are a lot of unique factors at play in the stock market. On one hand, we have the pandemic coming to an end. This has shed a light on what are known as ‘reopening penny stocks’.
While we can’t say for certain when Covid-19 will be over, massive vaccination efforts mean that case numbers are lower than they have been in many months prior. The next thing to consider is the state of the U.S. economy as a result of Covid. In the Fed Meeting held yesterday, Jerome Powell discussed the rebounding economy with a hopeful outlook. While this outlook is a positive for investors, many are wondering when the market will begin to reflect that.
If you’ve traded penny stocks or blue chips in the past few months, you probably are wondering why the stock market is down constantly? And, the short answer to this is uncertainty and the natural ebb and flow of the market. On one hand, investors are unsure about the future. This is characterized by lower than average volume, and most trading days ending sideways.
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The exception to this are stocks like AMC stock and GME stock, which are colloquially referred to as meme stocks. These companies have continued to rise in value due to investor sentiment and speculation rather than fundamentals. It’s important to note that these companies tend to be highly volatile, and investors should keep these massive fluctuations in mind.
On the other hand, the natural ebb and flow of the market means that corrections are common. Earlier in the year, the stock market was on a tirade, bringing new record highs every day. This, however, is unsustainable and had to result in a correction at some point. So, considering the extraordinary world we are living in today, let’s take a look at ten penny stocks to watch as AMC stock climbs, and the market hopefully rebounds.
10 Penny Stocks to Watch With AMC Stock Pushing Up Again
- Protagenic Therapeutics Inc. (NASDAQ: PTIX)
- Conformis Inc. (NASDAQ: CFMS)
- Boxlight Corp. (NASDAQ: BOXL)
- Clearside Biomedical Inc. (NASDAQ: CLSD)
- Uxin Ltd. (NASDAQ: UXIN)
Protagenic Therapeutics Inc. (NASDAQ: PTIX)
Protagenic Therapeutics Inc. is a biotech penny stock that is showing high market performance recently. This is a common trend with biotech penny stocks in 2021, with many increasing in value. Protagenic discovers and develops therapeutics in use for stress-related neuropsychiatric and mood disorders. One of its lead compounds is PT00114 which is a synthetic form of teneurin carboxy-terminal associated peptide. This is an endogenous brain signaling peptide that can dampen overactive stress responses.
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On June 17th, Protagenic is expected to present at the H.C. Wainwright Psychedelics in Psychiatry and Beyond virtual conference. Other than this recent announcement, there has been no company-specific news that is driving the price of PTIX stock upwards in the market.
Despite this, PTIX stock has moved up more than 8% on June 17th. So why is this happening? Well, this could potentially be due to the high performance of biotech penny stocks in general at the moment, or because of the presentation, it gave today. While this remains unknown, will you add PTIX to your penny stock watchlist as June moves forward?
Conformis Inc. (NASDAQ: CFMS)
Conformis Inc. is another biotech penny stock that has increased in several recent trading sessions. This biotech company develops, manufactures, and sells joint replacement implants. Its knee replacement products, such as iTotal CR and iTotal PS are some of the leading joint replacements in the medical field right now. These products are marketed and sold to orthopedic surgeons, hospitals, and other medical facilities all around the world. So what is causing the stock price increase of CFMS in June?
Conformis is another biotech penny stock that has not released any recent company-specific news in several weeks. Over the last few months, the company has presented at a variety of conferences and so on, however, today’s move could again, be a sympathy gain alongside the biotech industry. It’s worth noting that CFMS stock’s volume is nearly triple its market average right now.
It is possible that CFMS is moving upwards because of the hype around biotech penny stocks on Reddit. CFMS is mentioned frequently on various subreddits such as r/pennystocks and r/shortsqueeze. For this reason, it could be considered a Reddit penny stock to some traders. Often these stocks are also dubbed “meme stocks” because of their rise to glory caused by social media posts. With all of this in mind, is CFMS a contender for your penny stock watchlist?
Boxlight Corporation (NASDAQ: BOXL)
Boxlight Corp. is a penny stock that we’ve been covering for many months at this point. As a tech company, Boxlight is focused on education-related technology. It develops, sells, and services interactive classroom solutions for the K-12 education market. This includes flat panel displays, interactive projectors, touch boards, and other learning tools. Its MimioTeach product allows any whiteboard to become interactive, which is a game-changer in the age of digital education.
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On June 17th Boxlight announced that Laurel School District in New Castle, PA has successfully incorporated its ProColor interactive panel displays in their classrooms. This technology will replace its current whiteboards with Boxlights displays.
“We wanted to infuse educational technology that allows our students to be active participants. The ProColor panel technology allows them to do just that.” While this may not seem like a big deal, it is a move in the right direction as far as adoption and commercialization efforts are concerned.
Robert Lee, the Director of Administrative Services for the Laurel School District
On the day of this announcement, BOXL stock experienced a huge spike in morning trading which later resulted in a small correction. Just 5 days ago, BOXL stock was at $2.55 per share on average. Now on June 17th, BOXL stock is at $2.80 per share on average, representing some decent bullish price action. Considering the big moves made by the education industry to bring teaching into the 21st century, BOXL stock could be worth watching.
Clearside Biomedical Inc. (NASDAQ: CLSD)
Clearside Biomedical Inc. is a biotech penny stock that develops and delivers treatments to restore and preserve vision. These are in use for patients with severe eye diseases. One of its products is CLS-AX which is an axitinib for suprachoroidal injection. This product is currently in Phase 1/2a clinical trial as of June.
It also develops XIPERE which is a triamcinolone acetonide suprachoroidal injectable suspension to treat macular edema associated with uveitis, diabetic macular edema, and more. On June 15th, Clearside announced positive safety results from Cohort 1 of its OASIS Phase 1/2a clinical trial of CLS-AX for the treatment of wet AMD.
“The initial data from Cohort 1 clearly achieved our safety and tolerability endpoints. While still early and recognizing there are a limited number of patients, we believe the Cohort 1 data supports our hypothesis that the combination of targeted and compartmentalized suprachoroidal delivery and the potent pan-VEGF attributes of axitinib may facilitate an effective treatment option for patients suffering from wet AMD.”
The Chief Medical Officer and Chief Development Officer for Clearside, Thomas A. Ciulla
Since the data was released, CLSD stock has gone from $3 a share on average to over $4.60 per share on average. At one point, CLSD stock price nearly reached $6 per share during its peak in the last 5 days. For a brief moment, this company was able to move beyond penny stock status, which is always an encouraging sign.
On June 17th, the company’s stock price increased by another 13%, indicative once more of bullish price action. With all of this in mind, will you add CLSD stock to your list of penny stocks to watch?
Uxin Limited (NASDAQ: UXIN)
Uxin Limited is a tech penny stock that is moving up alongside other similar companies today. It has a focus on the used car e-commerce market in China. The company offers the Uxin Used Car and Uxin Auction brands which have been very successful as the demand for used vehicles has risen substantially in the past year.
Through these services, it provides used cars, evaluation of car conditions, and leasing and financing options, and more. It also facilitates used car transaction services from end to end. On June 15th, Uxin announced a financing transaction of up to $315 million. It has entered definitive agreements with NIO Capital and Joy Capital for the funds.
“We are very pleased and honored to be able to work together with William and Erhai again on our journey ahead. I would like to thank them and our shareholders for supporting Uxin’s strategic transformation and their continued trust in our team.
The Company’s successes and challenges over the past decade have made us firmly believe that the way for us to successfully realize our goals and mission is to wholeheartedly create long-term value for our customers.”
The Founder, Chairman, and CEO of Uxin Mr. Kun Dai
This is a substantial amount of capital and should allow UXIN to move forward on its plan of a car-ownership business model.In the last 6 months, the company’s stock price has gone from about $1 per share to more than $4 per share. At some points, it has even surpassed $5 per share. With all of this in mind, will you add UXIN to your penny stock watchlist this week?
Which Penny Stocks Are You Watching?
Right now, there are plenty of events to take note of in the stock market. This includes everything from the pandemic to fears of long-term inflation. Because of the extraordinary world that we are living in, it is common to see penny stocks make big moves during intraday trading.
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To stay on top, investors should continuously watch the news to remain informed about what events may impact the market. Additionally, having a trading education will always be a major benefit. And, as 2021 rolls on, which penny stocks are you watching?
To view the other five penny stocks on this list, check out 5 Penny Stocks on Reddit For Your June 2021 Watchlist
