Best Penny Stocks to Buy Right Now? 7 For Your Morning Watchlist

7 Penny Stocks to Watch As June Comes to an End

With another week comes a new chance for finding value with penny stocks. While not all penny stocks will be big gainers, using a trading education and information to your advantage will always be your best chance at seeing profitability. Right now we have to consider both the pandemic ending and the so-called ‘Summer Slump’.

These are two of the largest impacting factors on the stock market right now. With so many penny stocks to choose from, finding the best for your watchlist can be a daunting task. But, that’s why we’re here to help. Considering all of this, let’s take a look at seven penny stocks to watch for your Monday morning watchlist.

7 Hot Penny Stocks to Watch

Torchlight Energy Resources Inc. (NASDAQ: TRCH)
Luokung Technology Corp. (NASDAQ: LKCO)
Camber Energy Inc. (NYSE: CEI)
Sos Ltd. (NYSE: SOS)
Denison Mines Corp. (NYSE: DNN)
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
Globalstar Inc. (NYSE: GSAT)

1. Torchlight Energy Resources Inc. (NASDAQ: TRCH)

TRCH is a company that we’ve talked about plenty of times in the past few months. As of Thursday of last week, TRCH is no longer a penny stock and now sits at around $6.30 per share. In the past five days, shares of TRCH stock have shot up by over 80% including a 35% pre-market gain on July 21st.

In the past six months, that number jumps to over 1,060%. This bullish sentiment is based on both its merger with Metamaterial Inc. and its status as a meme stock. Investors had long awaited the completion of the business combination, and now there is finally a concrete date as to when it will be solidified.

For some context, TRCH is an oil and gas exploration company working out of West and Central Texas. Many investors believe that the energy sector is ripe to blossom as the pandemic ends, and people begin traveling once more. Considering this, will it be on your list of penny stocks to watch?

2. Luokung Technology Corp. (NASDAQ: LKCO)

Another major gainer of the day is LKCO stock. Up by around 12% in pre-market, shares of LKCO shot up by around 22% on Friday, July 18th. We’ve covered LKCO a few times in the past two weeks, and there’s a good reason for that. Only a few days ago, it announced that its subsidiary, eMapgo Technologies Co. Ltd., had entered into a contract to deliver a next-generation traffic control network for the Changjiu Expressway in the Jianxi Province of China.

This is big news and shows both the widespread adoption of its technology and the potential of LKCO and its subsidiaries. In the agreement, eMapgo will develop a 3D highway model that will allow the Chengdu Expressway to be a ‘smart road’. This means that it can offer autonomous driving capabilities, real-time traffic information, and more. And, it will use Luokung’s innovative mapping technologies as its backbone. With this in mind, LKCO stock could be worth watching.

3. Camber Energy Inc. (NYSE: CEI)

As far as energy penny stocks go, CEI is another popular one to consider. Camber is a Texas-based growth-oriented oil and natural gas producer. It holds a 62% interest in Viking Energy Group Inc. which recently reported its Q1 2021 financial results. In the results, Viking posted more than $10.4 million in revenue, which albeit is slightly lower than Q1 2020. But, this drop is due to the effects of the pandemic on oil and gas during that time frame.

James Doris, CEO of Camber and Viking, states that “We are pleased with Viking’s Q1 results, especially following the unprecedented conditions experienced in 2020. We are extremely encouraged with the foundation we have established, and are intensely focused on pursuing growth opportunities.” As stated earlier, many investors believe in a strong future for the oil and gas industry. With the pandemic on the way out, CEI is an interesting penny stock to watch right now.

4. Sos Ltd. (NYSE: SOS)

Sos Ltd. is another penny stock we discuss frequently for its large intraday swings. It’s difficult to put Sos stock in one box, however, as it works in many different markets. Sos works as a blockchain penny stock as well as a security, insurance, and cryptocurrency mining company.

On Monday morning, it announced a new joint venture agreement with Niagara Development to accelerate its blockchain operations into the U.S. market. Niagara will provide around 150MW of renewable energy to Sos, and it will construct a Digital Super Computing Custody Operation Center. Sos will manage, finance, and operate the facility.

“Sos continued to increase its development of comprehensive blockchain solutions for digital trade, digital finance, and other industries. We decided to acquire a sustainable power supply as fast as possible, as we expand our blockchain operations into North America.”
CEO of Sos, Yandai Wang

With this exciting news in mind, is SOS stock worth watching?

5. Denison Mines Corp. (NYSE: DNN)

Denison Mines Corp. is a uranium penny stock working in the Athabasca Basin region of Canada. It owns a 90% interest in the Wheeler River Uranium Project, which is the largest undeveloped uranium project in this region. Uranium has become extremely popular in the past few months as investors search for the best renewable energy penny stocks to watch.

Last week, Denison announced a 50% acquisition of JCU Exploration Company Ltd. for $20.5 million. This will give Denison the remaining 10% interest in the Wheeler River project. David Cates, the CEO of Denison Mines states that “Denison welcomes this new partnership with UEX. We are pleased with the acquisition terms for this unique and valuable portfolio of strategic Canadian uranium interests, which have been meticulously accumulated by JCU over the prior decades.” This is exciting news and could make DNN a penny stock to watch.

6. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)

Seanergy Maritime Holdings is a shipping company that provides bulk marine transport. It is the only pure-play Capesize shipowner that is publicly listed in the U.S., giving it a unique market position. Last week, SHIP announced the delivery of two Capesize vessels which should add an immense capacity to its already stacked lineup. The company states that the rates for shipping are incredibly high right now, at around $31,000 per day.

“I am pleased to announce the timely delivery of our fourteenth and fifteenth Capesize vessels and the immediate commencement of their respective period employments.”
CEO Stamatis Tsantanis

Considering the high need for global shipping right now as the pandemic comes to an end, SHIP stock looks to be in an advantageous position. Whether this makes SHIP worth keeping an eye on, however, is up to you.

7. Globalstar Inc. (NYSE: GSAT)

Up by around 5% in pre-market trading are shares of GSAT stock. Globalstar is a tech penny stock working in the mobile satellite and mobile technology market. Recently it announced that its wholly-owned subsidiary, SPOT LLC., has partnered with Desert Vets Racing, an off-road racing organization for veterans. SPOT provides satellite messaging and emergency notification tech, which is necessary for off-grid conditions.

CEO Dave Kagan states that “The partnership with Desert Vets Racing is a great fit for SPOT as we are able to provide reliable communication and connectivity.” While this in itself is not a major deal, it should help with the adoption and notoriety of SPOT’s products. Considering this, is GSAT stock worth buying?

Penny Stocks Continue to Heat Up

With a new week upon us, investors are searching for the best penny stocks to buy. Considering the extraordinary times we are living in, making a list of penny stocks can be challenging to say the least.

However, considering what events are going on in the world, will always be your best strategy to find profitability. With this in mind, which penny stocks are you watching this week?

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