3 Hot Penny Stocks for Your August 2021 Watchlist
After an interesting day of trading penny stocks and blue chips, many investors are wondering what the market will look like in the near future. Now, it is difficult to predict this, but we can use some of the information we have to give it our best shot. Right now, there is a great deal of uncertainty with the entire stock market as a result of the Delta variant.
While only a few weeks ago, many thought we were on the way out of the pandemic, now, it seems as though we are in for a fervent fourth wave. With the nation struggling to convince the public to get vaccinated, some investors are turning to safer penny stocks to try and avoid short-term volatility. And on the other hand, other investors are trying to benefit from the speculation that is ongoing right now. In addition to this, we have to consider that earnings season is in full swing.
With Microsoft Corp. (NASDAQ: MSFT), Apple Inc (NASDAQ: AAPL), Alphabet Inc. (NASDAQ: GOOGL) and others reporting after hours on July 27th, investors are anxious to see the results. And, these results will likely show just how well the market is doing right now and what it could do despite the pandemic continuing to show its face. So, with all of this in mind, let’s take a look at three hot penny stocks to watch with some exciting updates right now.
3 Hot Penny Stocks For Your List in August
Sphere 3D Corp. (NASDAQ: ANY)
Sphere 3D Corp. is a tech penny stock that’s been experiencing sizable momentum in the past few months. This company provides solutions for data management and application virtualization. Organizations use Sphere 3D’s software to deploy public, private, or hybrid cloud strategies via its applications. The company creates HVE-STACK, HVE 3DGFX, and more. Recently, Gryphon Digital Mining announced an agreement and plan to merge with Sphere 3D. The company now has purchased 7,200 AS19J Pro Antminers for Bitcoin.
“We are happy to provide Gryphon with Bitmain’s latest next-gen miners, the Antminer S19j Pro. Gryphon’s zero carbon footprint demonstrates their long-term initiative with being involved in the digital currency mining sector. We are confident that Gryphon will continue to expand their business and provide reliable and low-cost mining. We look forward to our continued cooperation with them in the future as they expand their operations.”The Sales Director for Antminer, Irene Gao
Considering the major interest in cryptocurrency right now, Sphere 3D looks like it could have a lot to offer. So, if you’re looking for an interesting penny stock to watch, ANY stock could be worth keeping an eye on.
Express Inc. (NYSE: EXPR)
If you have been to a shopping mall in the United States, you have likely heard of this next penny stock, Express Inc. Express is a retail company that offers apparel and accessories under its own brand and the subsidiaries that it owns. Its products are also sold online and via its mobile application, which allow it to be both an e-commerce and physical retailer of apparel. Express operates 570 total stores in the United States and Puerto Rico.
On July 26th, the CEO of Express, Tim Baxter, spoke with Yahoo Finance about the direction of the company in the post-pandemic phase. On the same day that this happened, EXPR stock increased by more than 18% in the market. The company expects the market on retail sales to begin to pick up as the pandemic lessens in severity. And, while that may be a difficult timeline to predict given the rise of Delta-variant-related infections, it is still worth considering.
Only a week or so ago, shares of EXPR stock sat around $4.40 per share. Now shares are comfortably hovering around the $5 mark. One year ago, EXPR stock was worth about $1 per share, which shows just how large the bullish sentiment is around EXPR right now. This significant market progress is what has caught the attention of many investors. Keeping all of this momentum in mind, will EXPR be on your penny stocks watchlist?
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an oil and gas penny stock that we have mentioned a few times in the past couple of months. This is because of the recent spikes that KOS stock has experienced in the market and the momentum surrounding the energy sector. This company’s main operations are deepwater oil and gas exploration and production. The company additionally has a proven basin exploration program. On July 5th, Kosmos Energy released an operational update.
“Kosmos had a solid second quarter, generating positive cash flow which reduced net debt by around $100 million, driven by higher sales volumes, strong operational performance in Ghana and improving realized oil prices. We continue to see momentum build across our producing hubs with new wells drilled in Ghana and the U.S. Gulf of Mexico during the quarter and the arrival of the rig for development drilling in Equatorial Guinea.”The Chairman and CEO of Kosmos Energy, Andrew G. Inglis
On August 9th, Kosmos plans to release its second-quarter financial results. This is an important date to look forward to if you have any interest in KOS stock. Financial results will often have an effect on both share prices and the forward outlook on a company.
And, with a company like KOS, investors should also consider the effects of increased travel on the energy industry. As stated before, the pandemic is still in full swing. That means that we may see a short term decline in travel. However, if we can maneuver past this fourth wave, there’s no telling what energy demand could look like. So, with its financial results coming soon, is KOS a contender for your penny stock watchlist?
Are These Penny Stocks on Your Watchlist?
Finding the best penny stocks to buy is all about understanding the trajectory of the market. With so many stocks to choose from right now, it can seem difficult to pick just a handful for your portfolio.
But, with the right research on hand and a dedication to understanding how to trade, making a profit with penny stocks can be entirely possible. With all of this in mind, which penny stocks are on your watchlist right now?