Are These Penny Stocks Worth Adding to Your August Watchlist?
With a new month of penny stocks trading only a week or so away, which companies are investors watching? Well, to understand this, we have to understand the current market conditions and which penny stocks could benefit.
Right now, there is a great deal of uncertainty among trading penny stocks and blue chips. With the Delta variant continuing to increase case numbers globally, many investors fear a dreaded fourth wave may be upon us. But, despite this there are still plenty of penny stocks that are showing potential. This includes everything from mining stocks to biotech stocks and more.
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As always, investors should make sure to do the proper due diligence to avoid unnecessary losses in their portfolios. But, with a trading education on hand and a commitment to finding information, any investor can have the same potential as the pros. With all of this in mind, let’s take a look at four penny stocks to watch with August only a week away.
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4 Penny Stocks For Your August Watchlist
- Harmony Gold Mining Company Ltd. (NYSE: HMY)
- Northern Dynasty Minerals Ltd. (NYSE: NAK)
- Conformis Inc. (NASDAQ: CFMS)
- Acasti Pharma Inc. (NASDAQ: ACST)
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining penny stock that explores for, extracts, and processes gold, silver, copper, and uranium. The company has many operations including 9 in the Witwatersrand Basin. Its properties are all located in Papua New Guinea and South Africa. Some of its mines include the Hidden Valley mine, Wafi-Golpu mine, and many others.
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Harmony Gold has not released any updates recently, so what can we attribute HMY stocks recent market moves to? HMY stock often will move in a similar pattern to the price of gold itself. While HMY stock is not at the high price it was last year, it is still performing well in the market.
On July 20th, shares of HMY stock shot up by a respectable 1%, indicating bullish sentiment around gold as a whole. With fears surrounding long-term inflation, many investors are looking for the best gold stocks to watch. Because gold is considered a safeguard asset, many traders choose to invest in corresponding companies to protect their investments. Considering this, is HMY stock worth watching?
Northern Dynasty Minerals Ltd. (NYSE: NAK)
Northern Dynasty Minerals Ltd. is another mining penny stock that explores at numerous mineral properties located in the United States. Its key mineral property is the Pebble copper, gold, and molybdenum project. This project alone spans 2402 mineral claims covering 417 square miles. The Pebble project is located in southwest Alaska, which is a very mineral rich area of the country.
On June 21st, the company announced an at-the-market offering of up to $14.5 million. This offering is with H.C. Wainwright & Co., which will be entitled at its discretion to sell common shares of the company. The net proceeds from the offering will be used for engineering, environmental, permitting, and evaluation work on the Pebble Project, as well as other corporate ventures.
On July 20th, the company’s stock price is up by around 9% in the market. Its volume is also much higher than its market average on the same day. When 2021 started, NAK stock was at $0.35 per share. Now NAK stock has reached $0.43 per share on July 20th. At one point in February, the company’s stock price reached above $1 per share for a brief moment. While its current price is not as high as before, NAK stock has solid performance right now. With all of this in mind, will you add NAK to your penny stock watchlist?
Conformis Inc. (NASDAQ: CFMS)
One biotech penny stock that is going up in value right now is Conformis Inc. Conformis is a biotech company that creates medical tech products, primarily related to joint replacement implants. The company is involved in the manufacturing, developing, and selling of these products. Its market includes customers such as hospitals, surgeons, and other medical facilities through distributors and a sizable sales force.
On July 14th, CFMS made an exciting announcement that investors should keep in mind. The company announced that its CEO Mark Augusti and CFO Bob Howe will present at the Canaccord Genuity 40th Annual Growth Conference. This presentation will take place on Wednesday, August 11th. In other recent news, Conformis settled its Wright Medical litigation that was related to patient-specific instruments for use with shoulder implants.
“We are pleased to have resolved all of the ongoing patent litigation related to the Wright Medical dispute. The settlement once again highlights the strength and value of our intellectual property, as well as our steadfast commitment to protecting and enforcing it.”
The President and CEO of CFMS, Mark Augusti
Based on all of this info, will CFMS stock be on your watchlist next month?
Acasti Pharma Inc. (NASDAQ: ACST)
Acasti Pharma Inc. is another biotech penny stock that is showing solid positive momentum right now. This company develops and commercializes pharmaceutical products, and is one that we have discussed several times in the past few months. Acasti’s main area of focus is treating cardiovascular diseases. Currently, it is developing CaPre, which is an omega-3 phospholipid for those with hypertriglyceridemia.
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On June 22nd, the company provided its fiscal 2021 year-end business update. Jan D’Alvise, the CEO of Acasti gave a statement on the acquisition of Grace Therapeutics that the company completed in May.
“We are very excited about the planned acquisition of Grace, as we believe their product portfolio has the potential for delivering better patient solutions with enhanced efficacy, faster onset of action, reduced side effects, and more convenient delivery with the potential to increase patient compliance.”
Jan D’Alvise, CEO of Acasti Pharma
This is the latest update that has come from Acasti Pharma, which is up 3.73% in the market on July 20th. Due to its recent momentum, will ACST be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Next Month?
With hundreds of penny stocks to choose from right now, how can we find the best ones to buy? Well, in the current market conditions, it is difficult to say the least. But, with the power of the internet, any trader can be just as informed as even the most seasoned investors out there. It all comes down to the amount of time you’re willing to put in. Considering all of this, which penny stocks are you watching next month?
