3 Penny Stocks That Are Seeing Bullish Interest Right Now
Today, penny stocks and blue chips both rose in value alongside the Dow pushing up by over 300 points. One of the major catalysts for this is the Labor Dept. in the U.S. stating that first-time jobless claims dropped to 385,000. This is a big deal for the economy, especially considering the effects of the Delta variant and heightened cases in the past few weeks.
In addition to this, we saw tech stocks push up today as well. This includes U.S. and Canada-based blockchain stocks, which have been on a tear since China announced a ban on Bitcoin mining. So, while the bullish momentum we’re witnessing right now is infrequent given the pandemic, it can be taken advantage of.
And with the right tools at your side, and a proper trading education, making money with penny stocks can be easier than previously imagined. As always, investors should consider the state of the pandemic, as it has the largest effect on the stock market right now. But, with vaccination rates increasing globally and hope regarding the future also rising, we could see more bullish sentiment return to the market. Considering all of this, let’s take a look at three penny stocks that investors are bullish on right now.
3 Penny Stocks With High Bullish Interest in August
Ampio Pharmaceuticals Inc. (NYSE: AMPE)
Ampio Pharmaceuticals is a biotech penny stock that develops immunology-based therapies to treat prevalent inflammatory conditions. One of the products that has caught investor attention in the last year is AP-016. AP-016 is an intravenous treatment in Phase I/II clinical trial for COVID-19 patients with respiratory issues. Companies working on Covid related treatments have understandably seen high interest from investors. While a lot has to do with the company gaining approval for a compound. On August 4th, Ampio released its second-quarter financial results and corporate update.
“We completed our Phase I trial utilizing inhaled Ampion for COVID-19 patients with respiratory distress, which showed that Ampion reduced all-cause mortality by 78% over the Standard of Care.
On the basis of those results, during the current quarter we worked with the Federal Drug Administration (FDA) to initiate Phase II trials utilizing inhaled Ampion and intravenous (IV) Ampion for COVID-19 patients with respiratory distress that may support an Emergency Use Authorization (EUA).”The President and CEO of Ampio, Michael Macaluso
One day after its financial results were released, AMPE stock increased by 19.8% in the market. The company’s average volume is more than two times its average as well. While this is likely the result of short-term speculation, Ampio does look like an interesting company to watch right now. Keeping this positive performance in mind, will AMPE stock make it onto your watchlist?
Cinedigm Corp. (NASDAQ: CIDM)
Cinedigm Corp. is an entertainment penny stock that owns a large library of movie, television, and other digital streaming content. It distributes its products for entertainment platforms such as Hallmark, the NHL, and the NFL, among many others. This entertainment company additionally helps market, source, and distribute content for other companies such as Apple, Amazon Prime, Netflix, and Xbox. During the pandemic, entertainment companies have seen heightened investor interest. This is true as more people are turning to digital content as opposed to in-person entertainment.
On July 30th, the company announced that it has launched three of its most popular channels on SLING TV Its Dove Channel, CONtv, and Docurama assets will now be available on the live and on-demand streaming service.
The VP of Business Development & Strategy at Cinedigm, Jennifer Soltesz said, “Working with SLING TV not only allows us to reach a diverse, new audience, but it gives us a partner with the same forward-thinking drive. We can’t wait to show these new customers the amazing networks Cinedigm has to offer.”
Just one week later, CIDM stock has increased by more than 5% in the market. It’s worth noting that CIDM stock can be quite volatile, however, it does show a lot of potential as the economy begins to reopen fully. Keeping all of this in mind, will CIDM make your list of penny stocks to watch?
SOS Limited (NYSE: SOS)
SOS Limited is a tech penny stock that offers data mining and analysis services. Its services are provided to both individual customers and companies located in China. SOS provides marketing data, technology, and solutions for a large variety of customers. The companies using its services operate in the areas of emergency rescue services, insurance companies, health care companies, and many more.
On June 21st, the company announced that it had entered a joint venture with Niagara Development LLC. This deal was created to accelerate its blockchain operations in the United States. Niagara Development will provide up to 150MW of electricity to SOS Limited. The company will also be responsible for the construction of the Digital Super Computing Custody Operation Center. As mentioned earlier, there is a lot of positive interest surrounding blockchain and cryptocurrency right now. And, considering this deal, it could be big news for SOS in the near future.
“We decided to acquire a sustainable power supply as far as possible, as we expand our blockchain operations into North America and look forward to successful operation of the joint venture. We continue to explore the possibility of acquisition of Niagara Development, Sherman Development LLC, and Park Falls Management LLC.”The Chairman of SOS, Yandai Wang
Keeping this recent information in mind, is SOS a contender for your penny stocks watchlist?
Are These Penny Stocks Worth Adding to Your Watchlist?
Finding the best penny stocks to buy is all about understanding where to look. While there are hundreds of small-caps to choose from, not all will share the same value. The most important factor to making money with penny stocks is to use your trading education as a benefit.
In addition, investors should have a thorough understanding of what type of trader they are. With all of this in mind, are these penny stocks worth adding to your watchlist?