Hot Tech Penny Stocks to Watch in August 2021
This year tech penny stocks have become some of the most popular small-caps for investors to buy. And, there are plenty of good reasons for this. During the most recent earnings season, most of the big-name blue-chip tech stocks blew the expectations out of the water. While some fear that this could be a peak, others believe tech is just getting started.
In the second quarter of this year, the U.S. GDP shot up by around 6.5%, indicating that expansion is well underway following the onset of the pandemic. Right now we have to consider the effects of the Delta variant on a reopening economy. In line with this, investors should understand what this means for penny stocks across the board. With the tech industry, investors remain bullish on the potential impact of the pandemic.
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As we saw early on in the course of Covid, many tech stocks were able to benefit greatly. The increased need for new tech products and better work-from-home/educate-from-home offerings created a highly bullish environment for the tech industry. With strong confidence in the future of the stock market, here are three tech penny stocks to know about in August.
Tech Penny Stocks To Watch For August 2021
- Alpha Esports Tech (CSE: ALPA) (OTC: APETF)
- Sonim Technologies Inc. (NASDAQ: SONM)
- Bitfarms Ltd. (NASDAQ: BITF)
Alpha Esports Tech (CSE: ALPA) (OTC: APETF)
During the course of the pandemic, people have searched for new methods to entertain themselves from home. And while video games have remained highly popular, competitive gaming or Esports is something that has only started to pick up momentum in the past five years or so.
While Covid highlighted several industries for their temporary contributions to the pandemic-stricken economy, other industries used it as a launching point. One of those industries is Esports. It’s worth noting that the momentum around this unique sector has only just begun to pick up in the past few years, indicating that there could be plenty of potential left to take advantage of. Alpha Esports Tech has begun to turn some heads this year.
From its GamerzArena platform to its active userbase, Alpha Esports has focused on taking advantage of this new wave of interest in Esports. Rather than focusing on one specific area of the market, the company has broadened its reach with a multi-pronged approach to the industry. Looking at the company, we can break it down into three separate propositions: esports, mobile gaming, and eCommerce. While they all are different, these three business opportunities present different value points for investors to take a closer look at.
Overall, Alpha Esports’ focus is on bringing together the gaming community onto its unique GamerzArena platform. The GamerzArena allows players to come together for community competitions, tournaments, and daily prizes. In addition, Alpha Esports has already succeeded in monetizing this product with its GamerzArena+ subscriber-based model. At $12.99 per month, gamers have access to better prizes, unique events, and all the gaming analytics one could ask for.
Alpha Esports has managed to build a gamer community that thrives on the success of its players. And, it works with its gamers to help them succeed in the long run. Case and point, Devlin D’Zmura, the Social Media Manager & Content Producer at Barstool stated that the GamerzArena “exceeded our expectations across the board. The level of personal and interactive content it provides us for our community is invaluable!”
From a fiscal perspective, Alpha Esports is also putting itself ahead of the game. The company expects to have more than 500,000 users by the 4th quarter of this year alone. And if we look at the Market Insight Report for the global esports betting market, we see a CAGR of over 13% to $13.05 billion by the year 2025. Considering this, do you think it’s worth adding to your watchlist?
Sonim Technologies Inc. (NASDAQ: SONM)
Up by a solid 6% or so by midday are shares of SONM stock. If you’re unfamiliar, Sonim Technologies is a U.S. provider of mobile tech solutions aimed at the ultra-rugged market. Its products are in use in fields such as onsite maintenance and those in harsh environment roles.
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The lineup of offerings that Sonim has includes rugged phones, industrial accessories, and a variety of applications for use on these platforms. A few weeks ago, Sonim announced an exciting partnership with 4K Solutions. This partnership will oversee the launch of the Mobile Broadband Kit Elite or MBK-Elite, which is designed to support the Sonim Xp8 ultra-rugged Android handset.
“We are excited to team up with 4K Solutions to offer a complete critical communications solution that can be tailored to each customer’s demanding requirements. Combining Sonim’s expertise in rugged smartphones with 4K Solutions expertise with mobile broadband kits is a win-win for customers needing a rapid-deployment solution for emergency response.”
The CMO of Sonim Technologies, John Graff
Since mid-July, shares of SONM stock have climbed by over 10%. And with its constant innovation, Sonim Technologies could be worth keeping an eye on in the near future.
Bitfarms Ltd. (NASDAQ: BITF)
Over the past month, shares of BITF stock have climbed by over 18% and YTD by over 140%. This staggering rise is a reflection of both Bitfarms’ work and the rise in Bitcoin popularity during that time. For some context, Bitfarms is a vertically integrated Bitcoin mining company. It operates onsite technical repair, data analytics, engineering and installation services and high hash-rate Bitcoin mining. While it was only listed on the NASDAQ in June of this year, Bitfarms has received a great deal of attention since that time.
If you follow the crypto industry, you likely know that one of the main issues is the extreme use of energy required to mine cryptocurrency. To combat this, Bitfarms states that over 99% of its operations utilize hydropower. This is a big deal in the blockchain industry and something that companies are just now beginning to move toward. It’s worth noting that BITF stock is not technically a penny stock at just over $5 per share. However, it was only a few days ago prior to its recent climb. And, its solid rise in that time frame could be due to its positive outlook on the near future.
The company stated that in the first six months of 2021, it was able to mine 1,357 Bitcoin. This is the largest number of Bitcoin mined in North America for any publicly traded mining company. At the August 4th BTC price of just under $40,000, this number amounts to $53,354,526. In June alone, Bitfarms mined 265 new Bitcoin, which was a record for the company at the time. So, with the popularity of cryptocurrency only continuing to rise, is BITF a welcome addition to your penny stocks watchlist or not?
Tech Penny Stocks Are Ripe With Potential
Over the past year and a half, the tech industry has grown substantially. And while blue-chip tech stocks like AAPL stock and TSLA stock are always in focus, this massive industry growth has put a spotlight on tech penny stocks as well.
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With hundreds of choices from Esports to blockchain penny stocks, the potential for profitability is almost unlimited. But as always, investors should do their research into any and every company on their watchlists. This will help to ensure the best chance of making money with penny stocks. Considering this, which tech stocks are on your watchlist right now?
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