Will These Penny Stocks Continue to Show Momentum?
Penny stocks are heating up. This is characterized by large intraday movements, and investors showing heightened bullish interest. While not all penny stocks are winners, it can be easy to find the best penny stocks to buy by following a few rules.
First and foremost will always be research. Know exactly what a company does now, and what it plans to do in the future. Next, have a thorough trading education. This will help to illustrate when to buy and sell penny stocks and how to find the best to watch.
Lastly, understand what is making the market move. By staying up to date with the news, investors can see what factors will impact the stock market daily. With this in mind, here are seven hot penny stocks to watch next month.
7 Penny Stocks to Watch Next Month
- Cocrystal Pharma Inc. (NASDAQ: COCP)
- Elite Education Group International Ltd. (NASDAQ: EEIQ)
- Meten EdtechX Education Group Ltd. (NASDAQ: METX)
- NovaBay Pharmaceuticals Inc. (NYSE: NBY)
- Regulus Therapeutics Inc. (NASDAQ: RGLS)
- Luokung Technology Corp. (NASDAQ: LKCO)
- Amarin Corp. (NASDAQ: AMRN)
1. Cocrystal Pharma Inc. (NASDAQ: COCP)
Cocrystal Pharma Inc. is a biotech penny stock that discovers and develops antiviral therapeutic treatments for serious and chronic viral diseases. Its CC-31244 product is an HCV non-nucleoside polymerase inhibitor that has completed Phase 2a clinical trial to treat HCV infection. It also has CC-42344 which is a PB2 inhibitor in preclinical development trials to treat influenza infection.
On June 14th the company announced that its lead COVID-19 antiviral therapeutic CDI-45205 has been shown to be active against SARS-CoV-2 (COVID-19) and two variants of it as well.
“These findings add to the growing body of preclinical data of CDI-45205. We believe these new data suggest our protease inhibitor may be an effective treatment of COVID-19 caused by SARS-CoV-2 and its emerging variants.
Additionally, Cocrystal scientists are currently using our proprietary structure-based drug discovery platform technology to investigate broad-spectrum oral protease inhibitors and replication inhibitors for the treatment of COVID-19.”The President and interim co-CEO Sam Lee Ph.D
This news was big for the biotech penny stock, which has seen a lot of momentum in the last month. One month ago COCP stock was worth $1.14 per share on average. Now on June 18th, COCP stock price is at $1.30 per share. This return on investment has attracted many to this biotech penny stock. Now we will see what the future has in store for Cocrystal Pharma and its developments. For now, will COCP stock make your watchlist this month?
2. Elite Education Group International Limited (NASDAQ: EEIQ)
Elite Education Group International Limited is an education penny stock that provides study abroad and post-study services to Chinese students in the U.S. The company offers international English proficiency test counseling, registration, and test placement services for students with no or poor language skills. It also offers admission application services, visa counseling, and guidance services.
Elite currently has a partnership with Miami University of Ohio, one of the oldest public universities. The company has had a lot of success with its programs at the college. So what is up with EEIQ market history recently? On June 18th, EEIQ stock opened at $4.77 per share and reached over $5.14 per share in the morning.
Then by the end of the day, EEIQ stock closed at $4.88 per share. Its trading volume is much higher than its average as well. This is based on no recent company-specific news. With this in mind, could EEIQ make your list of penny stocks to watch?
3. Meten EdtechX Education Group Ltd. (NASDAQ: METX)
The next education penny stock on this list is Meten EdtechX Education Group Ltd. This company provides English language training (ELT) services to students in China. It delivers future skills training for both students and professionals as well. Its ELT services are offered under the Meten brand, and lessons are given at its 105 self-operated learning centers. It additionally has 13 franchised learning centers as well.
On June 18th, Meten EdtechX reported a 247.8% increase in gross billing and a 163.9% increase in student enrollment in May 2021. These increases were much higher than last year’s numbers. In the first 5 months of this year, its junior ELT business went up by 408.4%.
In addition to these recent advancements, the company is applying an NFT for digital copyright in online education. It will use non-fungible token technology to verify the authenticity and protect the copyright of its courses. Companies that deal in NFTs have often seen high market performance in 2021. As of June 18th, METX stock is at about $1 per share. It will be interesting to see what happens with the company from here. So will METX make your education penny stock watchlist?
4. NovaBay Pharmaceuticals Inc. (NYSE: NBY)
NovaBay Pharmaceuticals Inc. is a biotech penny stock that develops products for eye care. One of its products is Avenova, which is a solution for cleansing and removing foreign materials from skin around the eye including the eyelid. It also has CelleRx Clinical Reset, a facial spray, and many more products. In addition to this, NovaBay offers KN95 masks which have been useful during the COVID-19 pandemic.
Last month NovaBay launched the i-Chek Illuminated Eye Examination Mirror on Amazon. “i-Chek is the ideal companion product to Avenova, our premier antimicrobial lid and lash spray, providing a personalized before-and-after look at the effectiveness of Avenova,” said Justin Hall, the President, and CEO of NovaBay Pharmaceuticals.
The company’s current strategy is to expand its product line in direct-to-consumer sales. It wants to broaden its customer base while also providing new and complementary products for its Avenova customers. On June 18th, NBY’s stock price rose by more than 1%. While NBY stock closed at $0.70, at one point during the day it reached $0.87 per share. So will NBY make your list of penny stocks to watch this week?
5. Regulus Therapeutics Inc. (NASDAQ: RGLS)
Another trending biotech stock, Regulus Therapeutics Inc., has been improving in its trials recently. This company creates drugs that target microRNAs to treat a variety of diseases. Its RG-012 and RGLS4326 treatments are targeted at people with a variety of kidney diseases. It is developing a lot of preclinical drug products as well. So what has Regulus been up to recently that is causing its stock price to go up?
In mid-May, Regulus Therapeutics announced an incremental update of its autosomal dominant polycystic kidney disease program. The CEO of the company, Jay Hagan said, “As previously reported, the ninth and final patient was trending well at the end of the dosing period and saw their polycystin levels continue to rise until study completion, twenty-eight days after the last dose. This pattern was generally consistent across the first cohort and further enhanced the overall mean changes from baseline for both biomarkers.” With this information in mind, is this company a contender for your penny stock watchlist in June?
6. Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a penny stock we’ve discussed several times in the past few months. It works on intelligent big data services and is based in China. Luokung’s main products deal with mapping and are in use in automotive navigation systems throughout China.
Shares of LKCO pushed up by over 22% since Friday, which is sparking investors to ask why. The reason behind this is its subsidiary, eMapgo Technologies Co. Ltd. has entered into a contract to deliver a next-gen traffic control system and smart highway project for the Changjiu Expressway. This will provide real-time traffic info and can be used for smart transport such as autonomous driving, and others.
Xuesong Song, the Chairman and CEO of Luokung states that “we are excited about EMG’s selection as the provider for this innovative smart highway project in Jiangxi, which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data services.” This is big news and could play out well for both Luokung and its subsidiary.
7. Amarin Corp. (NASDAQ: AMRN)
In the past month, shares of AMRN stock have pushed up by around 9% and with higher than average volume, it is on many investors’ radar right now. Amarin is a biotech penny stock with one commercialized drug in its pipeline. In a presentation given last month, the company announced that in the REDUCE-IT study, this compound “significantly reduced first and total primary and key secondary endpoint events by approximately 30-40% in patients with dyslipidemia.”
While it does have approval for this product in the EU, it recently went through a patent lawsuit in the U.S. for this compound. Investors should keep up with this news to see if any updates come out.
On a broad scale, Amarin works as a pharmaceutical company in cardiovascular disease management. It has offices around the world and is committed to reducing the risk of diseases associated with this. Cardiovascular disease is widely known as the number one cause of death in the world. In the U.S. estimates put the death toll at around 859,000 per year. This is substantial and shows a major market opportunity for the company. Considering this, will it be on your watchlist?
Are These Penny Stocks Worth It?
Finding the best penny stocks to buy is all about knowing where to look. But, having a thorough watchlist will always be your best chance at seeing profits in the stock market.
Because there is so much going on right now, understanding what makes the market move can put you at a major advantage. With all of this in mind, are these penny stocks worth it?