Are These Penny Stocks Worth Watching as Meme Stocks Push Up Again?
One of the largest trends with penny stocks over the past few months has been the entrance of social media, and correspondingly, meme stocks. This is a phenomenon where trending penny stocks can rise and fall dramatically depending on the level that they are spoken about online. While it is almost impossible to predict which penny stocks may rise due to social media sentiment, we can look at other cases such as that of AMC stock, to build out a trading strategy.
But one thing to keep in mind is that meme stocks and meme penny stocks in particular, tend to be some of the most volatile securities out there. This means that both the potential for big gains and big losses are both very likely. Rather than be scared, this is an opportunity to discover how to trade and how to profit from the meteoric rise and fall of certain stocks.
This is a continuation of ‘Meme Penny Stocks Are Here to Stay; 3 For Your Summer Watchlist’ so if you haven’t read that, go give it a look. With that in mind, here are five more meme penny stocks for your watchlist.
5 Meme Penny Stocks to Watch
- Jaguar Health Inc. (NASDAQ: JAGX)
- T2 Biosystems Inc. (NASDAQ: TTOO)
- 1847 Goedeker Inc. (NYSE: GOED)
- iBio Inc. (NYSE: IBIO)
- Ocean Power Technologies Inc. (NYSE: OPTT)
4. Jaguar Health Inc. (NASDAQ: JAGX)
Jaguar Health Inc. is a commercial-stage pharmaceuticals company that creates prescription medicines for people and animals. These medicines are in production for those with GI distress that leads to complications such as chronic debilitating diarrhea. The company’s subsidiary, Napo Pharmaceuticals focuses on developing and commercializing proprietary plant-based human gastrointestinal pharmaceuticals. On June 23rd Jaguar Health made the announcement that it would join the Russell Microcap Index. This will remain in place for one year starting after the market opens on June 28th, 2021.
“We are very pleased that Jaguar has been added to the Russell Microcap® Index – an important milestone that we believe will increase the overall awareness and visibility of the Company within the global investment community and broaden our institutional shareholder base.”The CEO and President of Jaguar, Lisa Conte
Despite JAGX losing some momentum in the YTD chart, in the last month, JAGX stock has increased by over $0.10 per share on average. With all of this recent information in mind, will you add JAGX to your watchlist this coming month?
5. T2 Biosystems Inc. (NASDAQ: TTOO)
T2 Biosystems Inc. is a biotech penny stock that develops diagnostics and products for the medical industry. The company provides its T2 Magnetic Resonance technology that enables the detection of pathogens, biomarkers, and other abnormalities in human samples. This testing occurs with various unpurified patient sample types, including plasma and whole blood. It also produces the T2Dx Instrument, with is in use to detect pathogens associated with sepsis and Lyme disease.
Recently the company caught attention with its T2SARS-CoV-2 Panel, which is a COVID-19 molecular diagnostic test. In the company’s last financial results, its revenue for the first quarter increased by 173% which is a staggering figure, and one that could be the reason behind its recent gains.
Right now, the company is set to present at several conferences throughout July which could help to indicate progress. The CEO 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.” On June 28th, TTOO stock shot up by around 3% in the market. Considering this, do you think that T2 Biosystems is worth watching?
6. 1847 Goedeker Inc. (NYSE: GOED)
1847 Goedeker Inc. is a penny stock we have discussed frequently over the past few months. For those unfamiliar, 1847 Goedeker is an e-commerce platform that sells appliances, furniture, fitness equipment, patio furniture, and more. The company has seen a great deal of momentum as massive pandemic-related stay-at-home orders have emphasized GOEDs products.
On June 16th, the company announced its most recent quarterly report. In it, GOED states that in May 2021 its revenue shot up by around 41.9% year over year to $44.3 million.
“We continue to operate at more than a $500 million annual revenue run rate through May. While our fill rate of 61% remains well below our historical 85% rate, we continue to believe we will see a return to normal shipping trends as manufacturers catch production up to consumer demand in the latter part of the third quarter.”The CEO of GOED, Doug Moore
One month ago, GOED stock was at $1.80 per share. Now shares of GOED stock are sitting at just under $4. This represents around 90% in growth in the past month alone. So with all of this to note, will GOED stock make your watchlist in July?
7. iBio Inc. (NYSE: IBIO)
iBio Inc. is another biotech penny stock that has been on many investors’ radars in the past few weeks. Ibio provides development and manufacturing services to its broad range of collaborators and customers. Its lead candidate is IBIO-100, a therapeutic for treating systemic scleroderma, idiopathic pulmonary fibrosis, and related conditions.
Back in May, we received the latest update from iBio Inc. The company reported its third-quarter 2021 financial results and provided a corporate update. Tom Isett, the Chairman and CEO of iBio said, “Our focus on strategy execution was reflected in our third-quarter results as we advanced our second-generation COVID-19 vaccine candidate, defended our intellectual property rights, and achieved strong year-over-year revenue growth while adding new development services clients.” Considering it’s role in the biotech industry and Covid-19, IBIO stock could be worth keeping a close eye on.
8. Ocean Power Technologies Inc. (NYSE: OPTT)
Ocean Power Technologies Inc. is an ancillary energy penny stock that develops and commercializes proprietary systems for generating electricity. This occurs through harnessing the renewable energy of ocean waves. The company’s PB3 PowerBuoy system generates power that can be done independently of the power grid in remote offshore places.
It also offers hybrid PowerBuoy products, subsea battery systems, and much more. These products are on offer to oil and gas, defense and security, science, and communications companies. On June 23rd it announced that it has been added to the Russell Microcap Index.
“OPT’s inclusion in the Russell Microcap® Index is testament to the Company’s growth potential. We believe that the awareness of being included in Russell indexes will not only benefit our existing shareholders but will lead to greater exposure to potential institutional investors.”The CEO and President of OPTT, Phillipp Stratmann
The company was officially included on June 28th, so it is now in full effect. On the same day, OPTT stock price increased by more than 2.45% in the market, which is substantial, while albeit not being anything to write home about. One month ago, OPTT stock was at $2.38 per share on average. Now on June 28th, OPTT stock price has reached $2.61 per share on average. The company’s positive performance has led to a lot of recent interest in the company. Considering this, will OPTT make your list of penny stocks to watch?
Are Meme Penny Stocks on Your Watchlist?
With meme penny stocks back in focus as AMC stock shoots up again, which companies are investors watching? Well, the best way to answer this question is to scour social media to find the most trending penny stocks to buy. This will take some time, but it could be a major benefit to your trading strategy.
At the end of the day, the best investor will always be the one with the most information at hand. And considering the power of the internet, any investor can rival even the top traders. With all of this in mind, are meme penny stocks on your watchlist right now?
To read about the other penny stocks on this list, check out Meme Penny Stocks Are Here to Stay; 3 For Your Summer Watchlist