8 Tech Penny Stocks For Your July Watchlist
Penny stocks have remained some of the hottest stocks to invest in in 2021. Within this category, however, tech stocks are incredibly popular. There are a few good reasons for this.
For one, during the pandemic, many tech companies quickly began investing in products and solutions to aid in the massive stay-at-home orders. And now, a year or so later, these have become commonplace, regardless of the trajectory of Covid-19.
The second reason that so many investors love tech penny stocks is the consistent innovation. Because these companies have to continue reinventing existing products and pushing new ones, we often see constant price shifts when announcements are made. This results in large momentum, which, albeit, can move in both directions.
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Lastly, the long-term future for many tech companies seems to be bright. In the 21st century, our world is based on the latest and greatest tech. And because of this, many investors choose tech stocks for the long game. So, with all of this in mind, here are eight tech penny stocks for your July watch list.
4 Tech Penny Stocks to Watch Right Now
- Alpha Esports Tech Inc. (CSE: ALPA) (OTC: APETF)
- Hall of Fame Resort & Entertainment Co. (NASDAQ: HOFV)
- Super League Gaming Inc. (NASDAQ: SLGG)
- Vinco Ventures Inc. (NASDAQ: BBIG)
Alpha Esports Tech Inc. (CSE: ALPA) (OTC: APETF)
When you look at the broader tech space, there are plenty of micro-sectors to focus on. However, thanks to the pandemic, one of the hot areas of this industry include esports. Yes, people are now becoming professional athletes in video game competitions. In fact, according to data from Insider Intelligence, it’s estimated that total esports viewership will grow at a 9% compound annual growth rate through 2023 to 646 million. What’s more, Newzoo projects the industry to hit $1.8 billion by next year and break above the $1 billion mark for the first time in 2021.*
With that, new companies have emerged. Though many look to generate revenue from events alone, companies like Alpha Esports Tech have taken a different approach. The company went public this year and has captivated attention thanks to its multi-pronged business model. Not only does it entail live events, but its GamerzArena and GamerzArena+ platforms are building user and viewer growth. It recently launched a Gaming as a Service (GaaS) software to increase its foothold in the industry. This week, Alpha announced that it had seen strong growth through its GaaS service.
“There are many organizations across the world that want to capitalize on the growing esports industry but simply do not have the resources or capabilities at this time,” said interim CEO Matthew Schmidt. “Through GaaS, we are able to target new user bases for GamerzArena by partnering with large organizations, and we also offer incentives to these organizations through revenue splits for user acquisition and sponsorships.”
Most recently, Alpha launched several new platforms, www.circuit.gg in partnership with Irony Inc. in India and www.compete.gamerzarena.com in partnership with Devil’s Child Management. Not only do both initiatives increase Alpha’s global footprint, but they also allow for the potential for large increases in userbase, according to management.
Hall Of Fame Resort & Entertainment Company (NASDAQ: HOFV)
Sticking with the “online gaming” idea, you’ve also got companies like Hall of Fame Resort & Entertainment gaining attention. The company has been focusing on building out its fantasy sports business. Last month, Hall Of Fame brought on Hall of Fame running back Terrell Davis. He will serve as the first commissioner of the Hall Of Fantasy League. This league comprises 10 franchises and the first national league that offers sports fans a fantasy football team with a community of shared stakeholders.
The League’s official draft is expected to happen this summer, with the first season starting in tandem with the 2021-22 NFL season. The unique aspect of this “online gaming” is that anyone purchasing a stake in any of the League’s franchises can receive a pro-rata share of winnings. Of course, this is based on the success of their respective franchise during the season.
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Not to mention, the company also owns the Hall of Fame Village powered by Johnson Controls. It’s centered around the Pro Football Hall Of Fame in Canton, Ohio. Thanks to its relationship with the official Pro Football Hall Of Fame, this fantasy league could be an interesting topic of conversation as football season nears.
Super League Gaming Inc. (NASDAQ: SLGG)
If you’ve followed the Esports industry at all this year, you likely have seen the major momentum occurring in the industry. And Super League Gaming is a major name in the Esports world. SLGG provides gaming and Esports content as well as a community platform. This platform alone offers tens of millions of players the ability to play video games with one another. In addition, it offers competitive gaming via proprietary and patented systems.
A few weeks ago, Super League announced a partnership with Trovo, the live streaming platform, to enable content creators the ability to grow their live gaming platforms. This deals with SLGG’s recently acquired tech platform Mobcrush, which can simultaneously broadcast gaming across multiple social media channels. Combined with Trovo’s over 300,000 streamers, Mobcrush will be able to expand its market reach greatly.
“Creators are always looking for new opportunities to grow their audience reach. Trovo’s new platform and their investments in creator tools and support align with our mission at Super League to help creators pursue their passion with confidence and belief in their future.”
Mike Wann, Chief Strategy Officer for SLGG
This is a big move and could help Super League Gaming gain a larger market reach in the gaming industry. Whether it’s worth adding SLGG stock to your watchlist, however, is up to you.
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures Inc. is a tech stock that we’ve frequently discussed in the past few months. The company operates by investing in entertainment-related technology and product fulfillment. Back in January, BBIG made headlines after announcing a reverse merger with the media company Zash Global Media. In the deal, Zash would own a controlling stake in the newly formed entity, but the name would remain Vinco Ventures.
Ahead of the closing of this deal, the pair has already planned to acquire Lomotif, which competes with TikTok, while not on the same scale as the media giant. The merger aims to continue developing the world of content, as there is an ever-growing need for new media and platforms. And especially considering the pandemic, more people are using media outlets and technology than arguably ever before.
Additionally, Vinco recently announced the spin-off of its Emmersive Entertainment platform into its own publicly traded entity. With a similar goal of changing the media world for good, this could be an interesting proposition for investors to consider. So, while the aforementioned merger is not yet completed, investors are waiting for it to be finalized. In the meantime, BBIG stock could be worth giving a first or second look.
4 More Penny Stocks to Watch Right Now
While the above-mentioned penny stocks have a few recent developments to note, that doesn’t take away from others that are trending in the stock market today. Below is a list of penny stocks surging during Thursday’s trading action:
- Ideanomics Inc. (NASDAQ: IDEX)
- MoSys Inc. (NASDAQ: MOSY)
- SGOCO Group Ltd. (NASDAQ: SGOC)
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Are Tech Penny Stocks Worth Watching?
Finding the best tech penny stocks in 2021 is all about using the tools at your disposal. With so many to choose from, researching and understanding what a company does should be the backbone of your strategy.
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Because tech is one of the most fast-paced and fastest-growing markets out there, things change very quickly. So, stay up to date, and know exactly what you’re getting yourself into. With all of this in mind, are tech penny stocks worth watching in 2021?
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End Notes:
*https://www.businessinsider.com/esports-ecosystem-market-report
