7 Hot Penny Stocks You Should Know About in 2021
Finding the best penny stocks to buy in 2021 takes both a commitment to education and understanding what type of trader you are. With hundreds of penny stocks out there, how can we find the best ones that fit our portfolio? Well, the short answer is that there is no easy way out. But, there are a few strategies that can help in the search.
First and foremost as mentioned above, is research. This can be done with a simple Google search, or by scouring social media such as Reddit and Twitter, for penny stocks that are frequently discussed. The next step is to take the list of penny stocks you’ve compiled and go through all of the data for each and every one. This should be the most time-consuming part, but it will help to ensure there are no surprises when it comes to price action.
And lastly, having a thorough understanding of what factors are impacting a penny stock or industry overall, can guide your search and tell you how to buy and sell. Considering all of this, let’s take a look at seven penny stocks that could be worth watching right now.
3 Penny Stocks For Your Watchlist Right Now
- ReShape Lifesciences Inc. (NASDAQ: RSLS)
- Verb Technology Company Inc. (NASDAQ: VERB)
- Iterum Therapeutics PLC (NASDAQ: ITRM)
ReShape Lifesciences Inc. (NASDAQ: RSLS)
While RSLS isn’t technically a penny stock aftermarket open today, it was only a day ago. Up by around 18%, today and over 25% in the past five days, shares of RSLS stock are attracting new popularity. While many big moves go without news, ReShape Lifesciences made a big announcement only a few days ago. During that time, it announced that it would be moving its Lap-Band manufacturing from Apollo Endosurgery Inc. to a new U.S.-based supplier.
“Moving Lap-Band production under our direct operations allows us to have better control of the manufacturing process for significant cost reductions, anticipated scale, and improved efficiencies. As we all emerge from the recent pandemic, we are proud to provide products that are able to help a growing population of people with weight-loss needs and to support the addition of new manufacturing and logistics jobs in the United States.”CEO of RSLS, Bart Bandy
This is big news and should give an added layer of control to RSLS for this product. Additionally, given that this product is already FDA-approved, this looks like it could be a big milestone for RSLS. Whether this makes ReShape Lifesciences worth adding to your watchlist, however, is up to you.
Verb Technology Company Inc. (NASDAQ: VERB)
While VERB stock’s 2% gain or so by midday on July 9th is not as large as RSLS stocks’, it is still a respectable rise in value. In the past month, shares of VERB stock have climbed by as much as 70%, which is quite substantial.
For some context, VERB is a tech penny stock that offers proprietary SaaS or software-as-a-service products for interactive video solutions. These solutions are used with small businesses, and are available in over 60 countries, broadening its reach substantially. In its product pipeline are applications such as verbLIVE, verbTEAM, verbLEARN, and more.
A few weeks ago, the company stated that heliosDX will be using its verbTEAMS product to offer a virtual salesforce for the former’s products. The CEO of heliosDX, Ashley Sweat, states that “This is a game-changer within the healthcare sector. verbLIVE allows the sales rep to have a face-to-face sales call with the decisionmaker, and quickly and easily within the video make sales materials available without leaving the video.”
While this in itself is not a major deal, it does aid in the adoption of Verb Technologies products. And, with the market for business-related software growing substantially in the past year, VERB stock could be worth keeping an eye on right now.
Iterum Therapeutics PLC ((NASDAQ: ITRM)
Iterum Therapeutics is a penny stock that we’ve covered numerous times in the past few months. Up by a solid 8% or so at midday, ITRM is once again on the radar. Earlier in the week, shares of ITRM stock plummeted after the FDA announced certain deficiencies in its sulopenem compounds’ NDA application. While normal, notifications like these are highly speculative and often result in the price action we witnessed in early July for ITRM.
However, with a new goal date of July 25th for the completion of the review, investors are hopeful for the future of Iterum Therapeutics. For some information, sulopenem is a drug used to treat urinary tract infections or UTIs. Iterum released in a statement that “no details with respect to deficiencies were disclosed by the FDA in this notification and the letter further states that the notification does not reflect a final decision on the information under review.”
YTD shares of ITRM stock are up by around 30%, but this number was understandably much higher before the major loss earlier in the week. So, while the announcement by the FDA may seem disheartening at first, as the company states, it is not a final decision and should be treated as such. Considering that ITRM still has a lot of potential concerning sulopenem, it could be worth giving a first or second look for your watchlist.
4 More Penny Stocks You Need to Know About
- Surgalign Holdings Inc. (NASDAQ: SRGA)
- ShiftPixy Inc. (NASDAQ: PIXY)
- Ault Global Holdings Inc. (NYSE: DPW)
- Eloxx Pharmaceuticals Inc. (NASDAQ: ELOX)
What Penny Stocks Are on Your Buy List Right Now?
Making a list of the best penny stocks to buy is the most common place to start. While it may seem difficult at first given the myriad of options, buying penny stocks can be easy with a little bit of research and a commitment to understanding how the market works.
To find profitable penny stocks, investors should have a thorough understanding of what factors are at play in the market and how to use them to your advantage. Considering all of this, which penny stocks are on your buy list right now?