Best Penny Stocks to Watch in July 2021
As we move toward the last week of June, which penny stocks are investors watching for next month? Well, to answer this we have to consider what is going on in the world right now. For starters, we have the end of the Covid pandemic on the horizon. This is resulting in a large amount of bullish sentiment for the future.
That sentiment extends into biotech penny stocks, tech penny stocks, and energy penny stocks among others. The next thing to consider right now is the most recent cryptocurrency dip. This has occurred over the past few days, but the largest drop was witnessed today as Bitcoin price fell below $30,000 for a brief moment.
While cryptocurrency and penny stocks are obviously different assets, they can at times trade in parallel with one another. So, considering these two factors and their effects on the stock market, here are five more penny stocks to watch right now. This article is a continuation of ‘Hot Penny Stocks to Buy? 3 For Your Morning Watchlist’.
5 More Penny Stocks to Watch in July 2021
- Uranium Energy Corp. (NYSE: UEC)
- Qudian Inc. (NYSE: QD)
- 9F Inc. (NASDAQ: JFU)
- T2 Biosystems Inc. (NASDAQ: TTOO)
- Kaixin Auto Holdings (NASDAQ: KXIN)
4. Uranium Energy Corp. (NYSE: UEC)
Uranium Energy Corp. is a mining penny stock that explores, extracts, and processes uranium and titanium concentrate. The company operates out of the United States, Canada, and Paraguay. Currently, it has an interest in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects. These projects are located in Texas, Arizona, Colorado, Wyoming, Canada, and Paraguay.
On May 20th the company announced that it has increased its physical equity uranium holdings. It has acquired an additional 200,000 pounds of warehoused U.S. uranium. This was fully funded with cash on hand and now totals 2.305 million pounds of U.S. warehoused uranium. The volume-weighted average price for uranium right now is $30 per pound with delivery dates to June 2023.
Plenty of mining penny stocks have been performing very well in the market lately. Uranium is a growing market right now as alternative energy continues to gain momentum. UEC’s stock price sat at around $1.60 per share on average just one month ago. Now as of June 22nd, UEC stock is at $2.80 per share on average. So, will you add UEC stock to your watchlist this week?
5. Qudian Inc. (NYSE: QD)
Financial penny stocks like Qudian Inc. are also witnessing solid performance right now. Qudian is a company that provides online platforms to offer small-company and individual consumer credit products in China. Its products include cash credit products and merchandise offerings to finance borrowers for direct purchase of merchandise off of its marketplace on an installment basis. It also has a platform for loan recommendations and referral services to financial service providers.
One week ago Qudian Inc. reported its first-quarter unaudited financial results for 2021. Its total outstanding loan balance, number of outstanding borrowers, and amount of transactions from loan book business all decreased year over year. Decreasing the number of loans and debt on a company’s books is always good news for investors, and this is no exception.
The Founder, Chairman, and CEO of the company said, “In the first quarter of 2021, we continued to execute a prudent operational strategy related to our cash credit business amid an evolving regulatory environment while making significant strides to advance our early childhood education business initiative.” With all of this in mind, will you add QD stock to your watchlist this month?
6. 9F Inc. (NASDAQ: JFU)
9F Inc. is a tech penny stock that operates a digital financial account platform. This platform integrates and personalizes financial services for those living in China. Some of its products include digital financial accounts, wealth management, and payment facilitation services. Its platforms include Wukong Licai, 9F Wallet, and 9F Puhui. So, what has 9F been doing recently that is causing its stock price to go up?
On June 3rd the company announced that it will hold an extraordinary general meeting on July 8th. The purpose of the meeting is for shareholders to consider and if thought fit, approve a name change from 9F Inc. to Ether Securities Inc. One month ago, JFU stock was at $1.30 per share on average. Now on June 22nd, the company’s stock price is at $2.35 per share on average. Considering this, is JFU a contender for your list of penny stocks to watch in 2021?
7. T2 Biosystems Inc. (NASDAQ: TTOO)
T2 Biosystems Inc. is a biotech penny stock that focuses on in-vitro diagnostics. The company develops diagnostic products and biotech product candidates in the United States. Its T2 Magnetic Resonance technology allows for the detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types. It also offers the T2Dx Instrument, used for detecting pathogens associated with sepsis and Lyme disease.
On June 21st, the company made several key announcements. The first is that it will take part in the American Society for Microbiology and the Federation of European Microbiological Societies’ World Microbe Forum. It will also participate in the Sepsis Tech and Innovation 2021 conference, and a few others as well.
The CEO of T2 John Sperzel said, “We’re looking forward to connecting with like-minded peers in the global medical community to discuss how our rapid diagnostic technology can be more effective than standard blood cultures to reach our common goal of better managing bloodstream infections and sepsis.” With all of these upcoming conferences in mind and TTOO’s forward momentum, will it be on your watchlist?
8. Kaixin Auto Holdings (NASDAQ: KXIN)
Kaixin Auto Holdings is a consumer automobile penny stock-based in China. The company operates 14 used car dealerships throughout the country, allowing it to have quite a broad reach. Additionally, it offers financing channels to its customers through its partnerships with financial institutions. Part of its business model is offering insurance, extended warranties, and after-sales services to its customers. Recently, KXIN stock has driven upward in several trading sessions. And this momentum has many investors asking why.
On June 22nd, Kaixin Auto Holdings announced that it is in discussions surrounding cooperation and a joint venture with a leading RV retailer in China. In the last three years, the RV market in China has increased by 50%. In 2020, more than 69,000 RV vehicles were sold alone. The company intends to collaborate with the RV retailer to sell and rent these vehicles. Additionally, it will explore the opportunity to develop and produce electric RVs.
Companies that enter the electric vehicle space are performing well right now due to the emphasis on renewable energy. With leaders like TSLA stock pushing EV adoption, more companies than ever are working to join this industry. On the day of the announcement, KXIN stock increased by more than 5.6% in the market. So with this in mind, will KXIN stock enter your watchlist for the month?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 is all about understanding what makes the market move. Considering the factors mentioned previously, we see that there is a lot going on in the world right now. But, with all of these events comes a high likelihood that we will witness major movement in the stock market.
To take advantage of this, investors need to understand how to trade penny stocks and what their individual strategy is. Considering this, which penny stocks are you watching right now?
To read about the other four stocks on this list, head to Hot Penny Stocks to Buy? 3 For Your Morning Watchlist