4 Top Tech Penny Stocks to Watch Next Month
With August around the corner, there are plenty of tech penny stocks that investors are watching right now. This is especially true considering that earnings season is upon us, with several major FAANG stocks reporting this week. And on Monday, the S&P 500 is showing more resiliency after last week’s early crash of over 700 points.
On Tuesday, July 27th, Apple, Alphabet, and Microsoft will all report their earnings. After that, Google, Amazon, and Facebook will also report, but later in the week. According to a report done by FactSet during the second quarter, over 88% of companies listed on the S&P 500 have reported positive EPS surprises. And, many investors are hoping that this bullish sentiment will extend toward penny stocks as well.
Also worth considering is the recent rise of cryptocurrencies such as DogeCoin, Bitcoin, and Ethereum. This happens from time to time, but it is always a positive sign for those investing in penny stocks. While crypto and penny stocks are very different, they can, at times, trade in tandem with one another. So, considering all of this exciting news, let’s look at four penny stocks to watch with tech in focus right now.
4 Best Tech Penny Stocks For Your Watchlist Right Now
- Alpha Esports Tech (CSE:ALPA) (OTC:APETF)
- Support.com Inc. (NASDAQ: SPRT)
- Bit Digital Inc. (NASDAQ: BTBT)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Tech Penny Stocks to Watch: Alpha Esports Tech Inc. (CSE: ALPA) (OTC: APETF)
One of the fastest-growing areas of the tech sector in the past year has been Esports. While video games have always been quite popular, the idea of Esports has evolved greatly in only a short time frame. And now, in 2021, the Esports industry and players like Alpha Esports Tech are moving fast to capture their fair share of the growing market.
If you’re unfamiliar, Esports is essentially competitive video gaming. And while this may seem small, there are billions of dollars being funneled into this, with advertisements, sponsorships, and the like, all backing this relatively new competitive sport. According to a research report done by Market insight Reports, the global Esports market could reach $13.05 billion in revenue by 2025. So, you might be wondering what ALPA does as part of the Esports industry.
Alpha Esports conducts a range of events through its GamerzArena and GamerzArena+ platforms. These are also part of the overall iGaming strategy, which is online betting that wraps in the Esports market. According to the company, Alpha Esports aims to collect a 10% service fee on all bets with an average bet size of $2-10 per member per month.
Setting its sights on 500,000 users by the end of 2021, Alpha Esports remains focused on scaling its reach as this industry starts to evolve. So, with all of the more industry-specific aspects covered, let’s go into depth on what Alpha Esports does.
When looking for a penny stock to watch, whether it be an Esports company or not, diversification is always key. In keeping with this, we see that Alpha Esports offers mobile gaming-based contests, head-to-head betting, and pro gaming competitions. Only recently, the company created what it calls the ‘Alpha League.’ This is a subdivision of its business dedicated to talent building, scouting, and partnerships.
Many Esports companies focus solely on the competitive aspect of gaming rather than building up talent and approaching the industry vertically. This unique strategy could be a result of the company’s leadership, consisting of seasoned industry executives such as the former VP of Marketing for Atari, Jonathan Anastas and the founder of GamerzArena, Matthew Schmidt.
In addition to this, Alpha Esports is constantly innovating its business. This includes establishing itself as a player in the crypto-industry through the creation of its Bitcoin-pegged Alpha Coin. This coin offers a decentralized monetization opportunity for the gamers on its platform and contests that it runs. While this is still a relatively new area for Alpha Esports, the blockchain and tokenization industry is growing quickly.
So, adding up all the information here, we see that Alpha Esports has a lot going for it right now. With big moves being made in the esports and blockchain markets, Alpha Esports continues to show both its unique market position and the potential of its vertically integrated operation. Considering all of this, will it be on your list of penny stocks to watch?
Support.com Inc. (NASDAQ: SPRT)
Today, shares of SPRT stock shot up by a solid 12.3%, starting the week off strong yet again. This company provides customer and technical support solutions through home-based employees. It offers this technology to clients in the media, healthcare, retail, and technology sectors.
Its SUPERAntiSpyware software is a malware protection software also offered by the company that broadens its market reach. While SPRT stock is no longer a penny stock, it was as early as last week. In the past five days, shares of SPRT have shot up by over 50% and in the past six months by over 215%. On July 7th, the company announced that it would be joining the Russell Microcap Index.
“Our inclusion in the Russell Microcap Index represents an important milestone for the continued evolution of the company. We appreciate the added visibility this recognition brings within the broader investment community.”The CEO of SPRT, Lance Rosenzweig
While SPRT’s revenue has dropped by around 27% in the past year or so, recently, the company has seen some intense bullish sentiment. However, it is difficult to say why we can assume that this may be due to the heightened need for tech support solutions due to increasing Covid cases.
With people at home once again, more individuals are shopping online, and therefore needing remote-technical assistance. In addition to this, its addition to the Russell Microcap Index means that SPRT stock is seeing more attention than usual right now as well. So, considering all of this, will SPRT stock be on your watchlist?
Bit Digital Inc. (NASDAQ: BTBT)
One of the largest gainers of the day is BTBT stock, pushing up by around 96% by EOD. Bit Digital is one of the largest publicly traded bitcoin miners in the stock market for some context. While BTBT stock is technically no longer a penny stock at almost $8.40 per share, it was only earlier today.
Today, it also made an exciting announcement during early morning trading. The company stated that it has entered into a second strategic co-mining agreement with Digihost Technology Inc. In the agreement, Digithost will provide premises for a 100 MW Bitcoin mining system for two years.
“We are committed to build on and expand our strategic collaboration with Bit Digital, which based on current Bitcoin metrics, is expected to deliver significant results through the overall increase in hashrate of 2.4 EH between the two companies. Our business strategy continues to be growth through the expansion of our mining infrastructure, vertical integration of green sources of energy and tactical partnerships with leading companies in the blockchain sector.”The CEO of Digihost, Michel Amar
Bit Digital remains an interesting blockchain penny stocks to watch right now with this exciting news in mind.
Ebang International Holdings Inc. (NASDAQ: EBON)
Another sizable gainer today is EBON stock, pushing up by around 15% by midday. This is another example of a crypto penny stock that shot up as a result of correlated momentum, similar to BTBT stock. And while Ebang did not release any news resulting in this gain, we can look at its underlying business model to see why it may have shot up.
For starters, Ebang provides application-specific circuit chips and Bitcoin manufacturing machines. These allow it to play both a large and active role in the crypto industry. In addition to this, it provides machine hosting services, fiber optic telecom products, protocol converters, and much more.
All of this falls into either the blockchain or telecom industries and is provided by it and its subsidiaries. In the past five days, shares of EBON stock have shot up by around 18%, including days gain. While this may reflect the overall bullish sentiment on blockchain and crypto, it is also a positive sign for Ebang’s business. Whether this makes EBON stock worth watching or not is up to you.
Are Tech Penny Stocks Worth Buying in 2021?
The short answer to this question is that it is truly up to you and your investing strategy. While buying and selling penny stocks may not be for the faint of heart, it can have a sizable payoff if you’re willing to put in the time.
Considering that there is so much momentum with the tech industry right now, there is plenty for investors to get excited about. Whether it’s Esports or blockchain, it’s important to consider the underlying business model and the companies short and long-term potential. With all of that in mind, do you think that tech penny stocks are worth buying in 2021?
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