3 Hot Penny Stocks to Add to Your Watchlist Right Now
While trading penny stocks has not been ideal for the latter half of 2021, it looks like things could be turning around. This is marked by higher than average volume, and many penny stocks jumping significantly in value. But, it’s not enough to simply find the largest gainers of the day, rather, investors need to understand why those penny stocks are shooting up in value.
And if we consider that most, if not all penny stocks are highly volatile, we can begin to deduce reasons behind intraday movements. Understanding these movements will help to predict future ones and understand where a stock could go. In 2021, investors also need to understand the outside influences that are impacting the stock market. This includes social media sites such as Reddit, Twitter, and others.
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Additionally, the ability to buy penny stocks on Robinhood has brought in billions in retail capital that otherwise would not exist. This has helped to promote higher volume and larger moves among certain penny stocks. So, while this may seem like a lot to keep track of, with the right information at hand, trading penny stocks can be easy. Considering all of this, let’s take a look at some of the best penny stocks to watch right now.
3 Hot Penny Stocks to Watch in July 2021
- Toughbuilt Industries Inc. (NASDAQ: TBLT)
- MER Telemanagement Solutions Ltd. (NASDAQ: MTSL)
- CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
Toughbuilt Industries Inc. (NASDAQ: TBLT)
While shares of TBLT are correcting in early morning trading on July 12th, there are several big announcements with the company to take note of. In the past month, shares of TBLT stock have climbed by a sizable 36%, and on July 9th, shares were up by almost 50%.
The main driver behind this news is that the company reported its sales more than doubling on Amazon throughout the first half of 2021. Specifically, the company reported that gross sales on Amazon for its products increased to $5.48 million compared to $2.51 million in the same period of the year prior. This represents an increase of around 118%.
“The significant momentum of our Amazon sales in the first half of 2021 reflects the increasing strength of our brand across all product lines with professional and DIY builders throughout North America.
As our online presence expands into Canada and Mexico, and U.S. sales continue to increase, we are simultaneously expanding our geographic footprint and launching new SKUs to capitalize on the strong demand for our innovative designs and features.”
Michael Panosian, CEO of Toughbuilt
Today, TBLT announced a $40 million registered direct offering, which most likely is due to the company capitalizing on its recent major share growth. So, considering all of this momentum, TBLT stock could be worth keeping an eye on.
MER Telemanagement Solutions Ltd. (NASDAQ: MTSL)
Up by a solid 71% in pre-market trading are shares of MTSL stock. If you haven’t heard of MER Telemanagement, you’re probably not alone. So, let’s take a closer look at the company. Before we get into it, it’s worth noting that there is no company-specific news that is driving this price increase. However, shares of MTSL stock did rise by around 20% on Friday, July 8th. MER Telemanagement is a producer of telecom expense management software. This includes software used in call accounting, and contact centers.
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While the market demand for these products is high and always increasing, this alone does not explain today’s or Friday’s gain. In June, the company did announce that it would be holding a shareholder meeting on July 21st, to approve a merger between it and SharpLink Inc., a tech company specializing in fantasy sports and sports leagues. This is most likely the reason behind both today and Friday’s gain as well as major speculation surrounding the upcoming merger.
It’s worth noting that both these gains are indicative of high speculation, which is something for investors to consider. But as always, mergers with penny stocks are very exciting for both the company and investors alike. With this in mind, will MTSL stock be on your penny stocks watchlist in July?
CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
Another decent pre-market gainer is CNSP stock, pushing up by around 7.5% in early morning trading. Early on in the day, the company announced that the FDA had granted it Fast Track Designation for its investigational drug, Berubicin. This compound is in use for the treatment of recurrent glioblastoma multiforme (GBM). This is big news for the company, and also for the licensee of this product, WPD Pharmaceuticals.
While the drug is approved for sale in 29 countries already, the move into the U.S. market could be a big one for the company. There are currently little to no solutions for those with this type of cancer, and now this product will open up a new route of treatment. CNS also recently stated that it would begin enrolling patients in new studies for the treatment of GBM.
“Receiving Fast Track Designation from the U.S. FDA is a huge achievement in our advancement of Berubicin for the treatment of glioblastoma, the most aggressive, deadly, and treatment-resistant type of cancer that forms in the brain.
If there were ever a disease where the unmet clinical need demands action, it is GBM. Patients have almost no meaningful options and thousands lose their fight against this terrible cancer every year.”
John Climaco, CEO of CNS Pharmaceuticals
So, considering this big move, it is clear why CNSP is up in pre-market trading. So, whether it deserves a spot on your list of penny stocks to watch is up to you.
Which Penny Stocks Are You Watching Right Now?
While these three penny stocks are showing high potential right now, there are plenty that could be worth watching. Finding the best penny stocks to buy is all about understanding where the market could be headed.
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And, in 2021, there are a great deal of factors to consider for your watchlist. With all of this in mind, which penny stocks are you watching right now?
