8 Penny Stocks to Watch Right Now
As we head into a new month, finding the best penny stocks to buy is a great tactic for profitability. However, like many things, this is much easier said than done. With penny stocks, the most important thing to consider is that they are highly speculative. While all stocks are speculative to some degree, the low price and high volume of stocks under $5, make them especially susceptible to intraday fluctuations based on news events.
This means that to buy and sell penny stocks, investors need to have a thorough understanding of both what is going on in the world and what is going on as it pertains to a specific industry. This is the only way to truly stay ahead when it comes to trading penny stocks. And in 2021, there is more than enough to keep investors busy with research. This includes the ongoing pandemic, fears of inflation, economic recovery, and more.
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While Covid is still highly in focus, there are plenty of other aspects to consider as well. Because of this, we are seeing more and larger fluctuations during intraday trading than in many months prior. But, given that penny stocks are historically extremely volatile, this is an attribute that many traders look for. So, with this in mind, here are eight good penny stocks to watch in 2021 and beyond.
3 Penny Stocks to Watch Right Now
- Invesco Mortgage Capital Inc. (NYSE: IVR)
- VEON Ltd. (NASDAQ: VEON)
- Vinco Ventures Inc. (NASDAQ: BBIG)
Invesco Mortgage Capital Inc. (NYSE: IVR)
Up by around 16% in the past month is Invesco Mortgage Capital Inc. IVR is often mentioned on social media, giving it the title of being a Reddit penny stock. Many believe that it could follow the likes of GME stock with investors hoping for a short squeeze in the upcoming future. However, there are a few things to consider before investing in IVR stock.
First, it’s worth noting that IVR is a REIT or real estate investment trust. This means that it purchases properties and then rents them out to a wide range of customers. With any REIT, profit is all about time. Because it can take years to recoup investment funds, many investors tend to trade REITs for the long term rather than for short-term speculative reasons.
In the past few months, Invesco has issued a substantial amount of shares in an attempt to grow its business much faster than possible. And, with little to no fundamentals to back it, this is the main reason behind the potential short squeeze. It’s worth noting that it offers an 8.8% dividend which is quite substantial. However, its traction as a meme stock could make it highly volatile in the coming months. Whether this makes it a penny stock to watch or not is up to you.
Veon Ltd. (NASDAQ: VEON)
Shares of VEON stock have shot up by a respectable 18% or so in the past six months. While this is not a staggering gain like some other penny stocks, its trajectory has been for the most part, quite stable. For some context, VEON is a global provider of connectivity and digital services that works in nine countries around the world.
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These countries represent almost 10% of the global population, which gives VEON quite a large market potential. Last week, it announced that its subsidiary, Jazz Pakistan, secured a 10-year $320 million syndicated credit facility. Jazz currently has over 28 million users that utilize its 4G network, which makes it one of the larger providers in the country.
“This facility is a further milestone in our ongoing efforts to improve the Group’s capital structure by increasing local borrowing in order to match our local currency revenues while extending the maturity of our debt portfolio.”
The CFO of VEON, Serkan Okandan
This is big news and continues to illustrate just how large VEON’s overall exposure is to the telecom industry. With this in mind, will it be on your list of penny stocks to watch?
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures is a penny stock that we have covered numerous times in the past few months. Since January 1st, shares have shot up by over 190%, which is a very solid gain worth noting. In the past month alone, shares of BBIG stock have climbed by over 25%, indicating solid bullish sentiment.
For some context, Vinco operates as an acquisition-based company working in the entertainment industry. It utilizes its B.I.G. or Buy. Innovate. Grow strategy, which has proven to work quite well for it in the past. Only a few days ago, it announced the planned ‘spin out’ of Emmersive Entertainment, which will become its own publicity traded company.
“The opportunity to continue to cultivate this technology is exciting. I greatly appreciate the faith Board members have in my abilities to continue operating and growing this innovative business. The technology and capabilities of Emmersive will be more fully realized and will be providing the shareholders of Vinco Ventures the additional benefit of equity in a second Public Company.”
Chief Strategy Officer of Vinco Ventures, Brian McFadden
If we consider that the market for digital content has increased dramatically in the past year, we see why shares of BBIG are seeing so much bullish attention right now. It’s worth noting that BBIG stock is highly speculative and can make large intraday moves depending on the news. But with this in mind, is BBIG worth adding to your penny stocks watchlist?
5 More Penny Stocks to Watch
- Exela Technologies Inc. (NASDAQ: XELA)
- Dare Biosciences Inc. (NASDAQ: DARE)
- Genius Brands International Inc. (NASDAQ: GNUS)
- 9 Meters Biopharma Inc. (NASDAQ: NMTR)
- Kosmos Energy Ltd. (NYSE: KOS)
Is Now the Time to Find Penny Stocks to Buy?
Finding the best penny stocks to buy all comes down to your own individual strategy. If your portfolio is more geared toward short-term trading, there are certain penny stocks for you and vice versa. But, understanding what type of investor you are will always be one of the most important steps in profitability.
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Considering that there is so much going on in the stock market right now, it appears as though there is a lot to keep track of. But, by staying up to date with the latest events and news, it can be easy to be the most informed trader out there. With all of this in mind, is now the time to find penny stocks to buy?
