Why These 9 Penny Stocks Could Be Worthwhile Watchlist Additions 

The market for both penny stocks and blue chips is heating up right now. This is marked by high trading volume and a large number of sizable gains seen across the board. For example, Auddia Inc. is a radio broadcasting company that has shot up by over 145% in the past month alone. Another example is BSQR stock, pushing up by a staggering 90% or so in pre-market trading on June 29th. 

While gains like these do happen with penny stocks regularly, they have been sparse over the past few months. This is due to both the uncertainty surrounding the pandemic and a general market correction following the major bullish sentiment witnessed earlier in the year. But, now that things seem to be getting back on track, we could see more bulls come in to try and find value in the market. And with the recent rise of AMC stock once again, more investors are focused on finding valuable stocks right now than in the past few weeks.

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As always, do your own research into every company that piques your interest. This will help to avoid any unexpected losses in your portfolio. Considering this, let’s take a look at nine penny stocks that investors are watching right now.

Read more: How To Buy Penny Stocks

5 Penny Stocks For Your 2021 Watchlist 

  1. Luokung Technology Corp. (NASDAQ: LKCO
  2. Enveric Biosciences Inc. (NASDAQ: ENVB
  3. Uranium Energy Corp. (NYSE: UEC
  4. MICT Inc. (NASDAQ: MICT
  5. Ebang International Holdings Inc. (NASDAQ: EBON)

Luokung Technology Corp. (NASDAQ: LKCO)

Luokung Technology Corp. is a tech penny stock that we have discussed plenty of times in the past few months. This is a company that provides location and mobile app products for long-distance travelers in China. The Luokuang mobile application offered by the company serves as a content and service distribution platform. This app offers services such as entertainment, e-commerce, travel info, and much more. It also offers software development kits and app programming interfaces. 

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On June 28th, Luokung announced the signing of an autonomous driving data services contract. With this, it hopes to become one of the leading service providers for autonomous driving-related products in China and potentially internationally.

“We feel that these recent service contract signings are reflective of our standing within this market, and we are very pleased to be partnering with another reputable and influential company within the auto industry. We believe these partnerships validate the strength of Luokung’s technology advantages and confirm our position as a preferred provider for data services in China in fields such as autonomous driving.” 

The CEO and Chairman of LKCO Mr. Xuesong Song

This recent advancement caused shares of LKCO stock to move up by more than 6% in the market. Keeping this in mind, will you add LKCO to your list of penny stocks to watch this week?

Penny_Stocks_to_Watch_Luokung_Technology_Corp_LKCO_Stock_Chart

Enveric Biosciences Inc. (NASDAQ: ENVB)

Biotech penny stocks like Enveric Biosciences Inc. have been performing very well in the market lately. ENVB specifically is a patient-first biotech corporation that is developing novel cannabinoid medicines. These medicines are created to improve the quality of life for cancer patients. Initial indications include radiodermatitis, which is a common and severe side effect of radiation therapy, as well as the treatment of chemotherapy-induced neuropathy.

Back in May, the company reported its first-quarter financial results, which were met with excitement from investors. Within the results, Chairman and CEO David Johnson said, “As we approach the second half of this year, we expect to receive approval and initiate two critical Phase I/II trials in Glioblastoma Multiforme and Radiation Dermatitis. In parallel, we opportunistically continue to evaluate strategic investments similar to our Diverse Biotech license for five molecules, exclusive supply agreement with PureForm, and other undervalued synergistic investments.”

In addition to this recent information, Enveric just presented at several investor and industry conferences. This includes the Benzinga Capital Conference, LD Micro Invitational XI, Emerging Growth Conference, H.C. Wainwright Conference: Psychedelics in Psychiatry and Beyond, Bio Digital Conference, and the Psychedelic Opportunity Summit. Throughout 2021, the company has had a fair share of ups and downs. But on June 28th, the company’s stock price is up 11%. With this in mind, will ENVB make your watchlist this month?

Penny_Stocks_to_Watch_Enveric_Biosciences_Inc_ENVB_Stock_Chart

Uranium Energy Corp. (NYSE: UEC)

Uranium Energy Corp. is a mining penny stock that is performing well in the market right now. UEC operates as a mining company that explores, extracts, and processes uranium and titanium concentrate. The company owns an interest in the Palagana mine, Goliad, Burke Hollow, Anderson, and many other leading mining projects around the world.

Recently, the company announced that it leads in ISR Uranium Mining right now. On June 9th, the company filed its fiscal 2021 quarter three report. In the report, it states that it holds $123.4 million in cash, equity, and physical holdings. This is comprised of a uranium inventory of $26.2 million, $47.9 million in cash, and 14 million shares of Uranium Royalty Corp. with a market value of $49.3 million.

It’s important to consider that UEC stock often moves in tandem with the price of both uranium and titanium. So, despite no recent company-specific news, Uranium Energy Corp. can fluctuate in the market significantly. This can also lead to some volatility, which is often a plus for penny stocks investors. So will UEC make it on to your list of penny stocks to watch?

Penny_Stocks_to_Watch_Uranium_Energy_Corp._(UEC_Stock_Chart)

MICT Inc. (NASDAQ: MICT)

MICT Inc. is a tech penny stock that designs, develops, manufactures, and sells mobile computing devices and software for fleet operators and field workforces. The company also engages in equities trading and online brokerage services. And, if all that isn’t enough, it also sells insurance products through a proprietary trading technology platform as well as online investment and wealth management services.

[Read More] 9 Hot Penny Stocks To Watch Right Now, Analyst Targets Up To 290%

On June 7th the MICT board approved a $60 million capital injection to its wholly-owned subsidiary Magpie Securities. This capital will be in use to operate and develop its online stock trading platform from Hong Kong. The first $30 million will be in equity capital, and the second $30 million will be by way of an intercompany subordinated loan.

The CEO of MICT, Darren Mercer stated, “With the upcoming launch of our mobile stock trading app, the $60M investment in Magpie will properly capitalize the business to support our ambitious growth plans and provide the ability to offer competitive margin and IPO funding to our underlying customers.” With this in mind, MICT stock could be worth keeping an eye on right now.

Penny_Stocks_to_Watch_MICT_Inc

Ebang International Holdings Inc. (NASDAQ: EBON)

Ebang International Holdings Inc. is another tech penny stock that researches, designs, and develops app-specific integrated circuit chips. In addition to this business, Ebang manufactures Bitcoin mining machines. It also offers mining machine hosting services, which allow customers to operate mining machines remotely.

The world of crypto has been at the forefront of the media in 2021. With things like Bitcoin, DogeCoin, NFTs and more all experiencing huge gains at certain points, there is a lot of attention on blockchain technology right now. Amid all of this hype, Ebang has seen a great deal of bullish sentiment.

Often EBON stock price will move with the crypto market. So when Bitcoin and other cryptocurrency is down, it could bring EBON stock price down. This is shown in the spikes that EBON has experienced when Bitcoin prices were rapidly increasing. On June 28th, EBON stock is up 4% in the market. With all of this in mind, is EBON a contender for your list of penny stocks to watch in July 2021?

Penny_Stocks_to_Watch_Ebang_International_Holdings_Inc_EBON_Stock

4 More Penny Stocks to Watch 

  1. Exela Technologies Inc. (NASDAQ: XELA
  2. BSQUARE Corp. (NASDAQ: BSQR)
  3. VBI Vaccines Inc. (NASDAQ: VBIV
  4. Auddia Inc. (NASDAQ: AUUD)

Will The Market For Penny Stocks Continue to Heat Up?

While trading in the past few weeks has been much better than the previous months, we do have to consider some sobering factors. This includes first and foremost the rise of the Delta Variant of Covid.

[Read More] 7 Penny Stocks On Robinhood To Watch In June 2021

Current vaccines are showing high efficacy rates against this variant, however some investors fear the uncertainty that led to the bearish trading a few months back. Despite this, many scientists state that we will not see a meteoric rise in cases like we did earlier in the year. But, this is an important factor to consider. So as we move toward the end of the year, will the market for penny stocks continue to heat up?


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