10 Robinhood Penny Stocks to Watch in Summer 2021
Are you looking for the best penny stocks to buy on Robinhood right now? Well, slow down for a minute, let’s talk about what goes into making a penny stock worth it. For one, penny stocks are extremely volatile. This is due to both high volume and the low price of penny stocks.
Two, this volatility is controlled by extremely high speculation. For those unfamiliar, speculation is all outside influences and news that has an impact on a stock’s price. This is one of the most fundamental reasons that penny stocks move in value. Because of this, investors need to stay up to date with all the news and current events. This includes both company and industry-specific happenings as well as world news.
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All of these factors will have an impact on a stock or an industry, and for that reason, it is worth paying attention to. Lastly, having a strategy for trading penny stocks will always work in your favor. This includes knowing how to buy and sell penny stocks as well as understanding when to do so.
Keep in mind that this is a continuation of ‘Popular Penny Stocks to Buy Right Now? 7 For Your Watchlist’, so if you haven’t read that go take a look. Considering all of this, let’s take a look at ten penny stocks you need to know about right now.
3 Penny Stocks to Watch Right Now
- Globalstar Inc. (NYSE: GSAT)
- Overseas Shipholding Group Inc. (NYSE: OSG)
- BEST Inc. (NYSE: BEST)
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a tech penny stock that we’ve been covering for quite a few months at this point. And yesterday, it made a sizable announcement that is worth keeping in mind. Before we get into it, let’s talk about what GSAT does. Globalstar is a provider of customizable IoT solutions for a variety of customers around the world. This includes those in emergency management, government, maritime and more.
In its product line is the SPOT device which allows for personal safety, messaging, and emergency services regardless of on the grid status or not. Yesterday, Globalstar announced a partnership with FocusPoint Inc. to provide services for its Global Overwatch and Rescue operation.
“We are so pleased to extend this valuable service to Globalstar customers. Many of our users partake in extreme sports and engage in higher than average travel frequency making this offering a service that can help further improve our customer’s peace of mind. FocusPoint provides a comprehensive risk consulting service that is a great compliment to the connectivity we provide our customers.”
David Kagan, CEO of Globalstar
This is big news and is something that should continue to develop in the coming months. With this in mind, will GSAT stock be on your watchlist moving forward?
Overseas Shipholding Group Inc. (NYSE: OSG)
Up by a staggering 35%, or so at midday is OSG stock. While many large gains like this occur without news across penny stocks, today OSG made a big announcement. In the early morning, Overseas Shipholding announced that it received an indication of interest to acquire its issued and outstanding shares by Saltchuk. Saltchuk, for those unfamiliar, is a decades-old investor in short-term economic cycle-related companies. This includes shipping, which has seen a major demand increase as a result of both the pandemic and the pandemic coming to an end.
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Saltchuk is a privately held company and stated that “By its nature, shipping has multi-decade investment cycles and shorter-term economic cycles, both of which are better supported by a privately held family business versus being traded in the public markets.”
This move would be big news for the company and investors alike, although it is still in the very early stages of completion. But, when takeover announcements come out, investors usually jump at the opportunity. Investors should keep in mind that big news like this usually leads to a high degree of volatility. However, in this case, the deal seems to be more straightforward than speculative. So, whether this makes OSG worth adding to your watchlist right now is up to you.
BEST Inc. (NYSE: BEST)
BEST Inc. is another penny stock that we’ve covered numerous times in the past few weeks. In the past month, shares of BEST stock have shot up by a respectable 11% or so. Despite being on a downward trend in the past six months, many investors are showing both bullish and speculative interest in the company. A few weeks ago, it released its unaudited first quarter 2021 results.
“Our first-quarter results reflected a mix of both the progress brought about by our November 2020 strategic refocusing plan and the ongoing challenges we are still facing.
Our execution of the strategic refocusing plan delivered substantial improvement in Freight, Supply Management, and Global, as reflected in their top-line growth along with strong gross margin expansion. We continued to solidify our leading position in the freight market while refocusing our efforts on high-margin accounts for Supply Chain.”
Johnny Chou, Founder, and CEO of BEST Inc.
As a smart chain logistics provider in China, BEST Inc. has a lot of opportunities on the horizon. While it is difficult to say for sure where it will be headed, there appears to be a lot of interest in the company. Whether BEST stock is right for you or not is up to you to consider.
Which Penny Stocks Are on Your Watchlist?
Finding the best penny stocks to watch is a difficult task, especially considering how much is going on in the market. To create a watchlist, investors need to understand what type of trader they are. This is the best way to find penny stocks that fit your investing style.
[Read More] Best Penny Stocks to Buy Right Now? 15 To Watch In July
In 2021, there are plenty of penny stocks that could be worth taking a first or second look at. Considering all of this, investors should also get a trading education if possible. This is the best way to avoid high risk and make every trade a potentially profitable one. With all of this in mind, what do you think about the penny stocks on this list? Are they worth watching as we head further into Summer 2021?
To read about the rest of the penny stocks on this list head to Popular Penny Stocks to Buy Right Now? 7 For Your Watchlist
