Are These Penny Stocks on Your List For Next Week?
With a new week upon us, the opportunity to find valuable penny stocks to watch is once again palpable. But, to do so, investors need to consider a few factors. For one, what is going on in the world right now, and how will it shape the short or long-term future of the penny stocks you’re interested in? Right now, there are two major factors at play: the pandemic, and inflation.
On one hand, around 48% of the public in the U.S. is fully vaccinated. While this is substantial, it is also lower than the amount needed for herd immunity. Because of this and due to the high transmissibility of the Delta variant, we are seeing cases rise once again. This has many investors fearful about the coming months. However, that fear does seem to be short-term based, and many believe that the future could be much brighter.
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Second, as a result of Covid, we have witnessed massive inflation in the U.S. While this is no major cause for concern with certain penny stocks, others such as those in retail or raw goods, are seeing the effects of this.
All in all, we are in an extraordinary situation right now, and this is playing out in the mindset of many investors in 2021. We see this with many days of large ups and downs with both penny stocks and blue chips. So, while we aren’t out of the woods yet, now could be a great time to find penny stocks that have long-term value. With all of this in mind, here are three penny stocks to add to your mid-July watchlist.
3 Hot Penny Stocks to Watch Right Now
- NovaBay Pharmaceuticals Inc. (NYSE: NBY)
- Staffing 360 Solutions Inc. (NASDAQ: STAF)
- Exela Technologies Inc. (NASDAQ: XELA)
NovaBay Pharmaceuticals Inc. (NYSE: NBY)
NovaBay Pharmaceuticals Inc. is a biotech penny stock that we have discussed frequently in the past few months. For some context, it creates a large range of medical devices related to eye care. Its Avenova product allows individuals to clean and remove foreign materials from around the eye. The company offers a variety of other products as well, including KN95 masks, which are in very high demand as the pandemic continues to show its face.
Recent announcements from NBY include a slew of presentations in the coming future. On July 14th, NovaBay presented at the Ladenburg Thalmann Virtual Healthcare Conference. And, on the 29th, the company will hold one-on-one investor meetings at A.G.P.’s Virtual MedTech Summer Conference.
“We are addressing extremely large markets with our two differentiated products, Avenova and CelleRx, and look forward to sharing details of our growth strategy at these conferences.”The CEO of NovaBay, Justin Hall
In the last three quarters in a row, the company has set record unit sales for its Avenova product. This is a big deal and shows that this product could be a main source of revenue for NovaBay moving forward. While it is somewhat of a niche market, many investors believe that this could be beneficial to NBY’s top and bottom-line results. Keeping these positive advancements in mind, will NBY stock make it onto your penny stocks watchlist?
Staffing 360 Solutions Inc. (NASDAQ: STAF)
Staffing 360 Solutions Inc. is a penny stock that is experiencing both a high degree of volume and an even higher amount of price fluctuations right now. For those unfamiliar, Staffing 360 engages in the acquisition of staffing companies. It works with temporary contractors as well as individuals for permanent placement in a variety of jobs.
Staffing 360 Solutions primarily works with those in finance, engineering, administration, and commercial activities. On June 30th, the company announced a reverse stock split to maintain its NASDAQ listing.
“We are effecting this reverse stock split to raise Staffing 360’s common stock price to regain compliance with the NASDAQ Capital Market’s $1.00 per share minimum bid continued listing requirement.
We believe the trading of our shares on a national market increases our visibility in the marketplace, improves liquidity, broadens and diversifies our shareholder base, and ultimately enhances long-term shareholder value.”The CEO and Chairman of STAF, Brendan Flood
During the pandemic, jobs reports were understandably low. With people at home more than ever, many people also lost their jobs and had trouble finding new ones. But, as the pandemic slows in severity, jobs reports are showing new signs of positivity. And, this is great news for both the economy and Staffing 360 Solutions.
While it will take time before we can get back to pre-covid numbers, in the meantime, companies like STAF look like interesting reopening penny stocks. Noting this information, will STAF stock be on your list of penny stocks to watch?
Exela Technologies Inc. (NASDAQ: XELA)
Technology penny stocks have seen an unprecedented increase in interest over the past year. As part of this sector, Exela Technologies is no different. This company is a business process automation (BPA) leader. It focuses on digital transformation solutions by improving quality, productivity, and end-user experience.
One of the major draws of XELA stock is that it has an international presence, working with over 4,000 customers in 50 different countries. Primarily XELA works on solutions addressing finance and accounting, human capital management, banking, healthcare, insurance, and some public sectors. These industries represent some of the most prominent markets for a company like Exela to move into. And, with the world becoming more and more digital every day, XELA stock continues to show heightened potential.
Recently XELA expanded its AI-enabled automation into the BPA space. This new technology uses Intelligent Document Processing (IDP) in conjunction with the robotic process automation platform (EON). This is a big deal and shows that Exela is both innovating and continuing to reinvent its current products.
Because the demand for BPA solutions is always growing in the digital age we live in, Exela looks well-positioned to continue taking advantage. In the past month, shares of XELA stock have shot up by over 168%, with 55% of those gains coming in the last five days. So, considering this major bullish sentiment, is XELA stock worth watching right now?
Which Penny Stocks Are You Watching This Week?
Finding the best penny stocks to buy is a combination between understanding speculation and fundamentals. With speculation higher than ever and leading to increased volatility, prices are moving faster than they have in months.
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However, many businesses have recovered from previous Covid-driven lows, resulting in better than expected fundamentals. So, while it may be a tough time to invest in penny stocks, it could also be profitable if done correctly. Considering this, which penny stocks are you watching this week?