Are These Premarket Gaining Penny Stocks Worth Watching?
Finding the biggest premarket gaining penny stocks is a great way to start your watchlist. And while it isn’t nearly the only way to start a trading day right, it can be a useful tool to see where the momentum may be headed that day.
For example, if during premarket, energy penny stocks all climb, there’s likely a catalyst that could be worth looking into. Or, if one penny stock, in particular, pushes up substantially in value, there is likely some news to back it. This is not true across the board as some penny stocks will climb purely due to speculation rather than any underlying event.
And in August 2021, there are plenty of penny stocks to choose from. Right now, the list of penny stocks expands well into the hundreds, meaning that there are options for all types of traders. But as always, investors need to do the proper due diligence to ensure their choices have the potential to make profits.
In addition to this, there are a wide variety of catalysts that are impacting the market right now. This means that volatility is likely to stay high, and fluctuations during intraday trading are also highly likely. So, considering all of this, let’s take a look at three penny stocks that shot up during premarket trading.
3 Penny Stocks to Watch After Big Premarket Gains
Kosmos Energy Ltd. (NYSE: KOS)
One energy penny stock that is performing well in the market right now is Kosmos Energy Ltd. Kosmos is a company with a primary focus on oil and gas property exploration. The company has property located in offshore locations off the coast of the U.S. Gulf of Mexico, Equatorial Guinea, and Ghana. The company also has gas developments located in Senegal and Mauritania.
Right now, the energy sector is heating up as a result of increased travel. While the pandemic is still ongoing, many have taken to air travel and road trips due to vaccination and a desire to go on vacation. In addition to this, many offices have returned to in-person work, meaning that commuters are commuting, and therefore there could be higher fuel usage nationwide. While this may not have a short-term impact on KOS, the company hopes to reap the benefit of this demand increase moving forward.
On July 8th, Kosmos Energy reported operational updates for 2021. Its net production of 52,000 barrels of oil equivalent per day was slightly below its guidance. This was due to decreased production from its Equatorial Guinea property. But Kosmos delivered strong operational performance out of Ghana despite its less than stellar performance elsewhere.
Now Kosmos Energy plans on hosting second-quarter results and a webcast on August 9th. This is an important date for investors, as quarterly results can often provide a lot of insight as to where a company is at. For this reason, many companies experience positive or negative stock movements as a result of quarterly reports. With this in mind, is KOS a contender for your list of penny stocks to watch?
Sonim Technologies Inc. (NASDAQ: SONM)
Sonim Technologies Inc. is a tech penny stock that is up by around 6% in the past five days, and 2% in premarket trading day. This is a company that manufactures and sells rugged mobile phones for industrial workers. Its products include the Sonim XP8, Sonim XP3, and Sonim RS60. These devices can connect to public and private wireless networks, and offer a large variety of features.
On June 29th, the company announced that it has secured design win awards with a leading U.S. carrier. This deal was secured for two of Sonim’s next-gen ultra-rugged cell phones that will be released in 2022. This is a big deal for Sonim and has resulted in a sizable uptick in value since then. While the past six-month chart has not been the kindest to SONM stock, this is the result of the lack of demand for its products due to the pandemic. However, as more people return to work, it could see that change in the coming months.
“We now have design win awards from the three largest US carriers for new products that we expect to introduce starting in 2H 2021 through Q3 2022. These new products, combined with the SmartScanners we began shipping this year, show our desire to enhance and grow our product portfolio and addressable market opportunity.”The Chief Marketing Officer of Sonim, John Graff
When looking at tech penny stocks, one of the most promising aspects is a diverse product range. And while Sonim’s product line does have a specific market, it is quite broad in that field. Keeping this in mind, is SONM a penny stock to consider for your watchlist?
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock that is focused on making targeted fusion protein therapeutics for cancer patients. The company is involved in designing, engineering, developing, and commercializing these products. Its lead therapeutic is Vicinium, which is a targeted fusion protein in Phase III clinical trials for the treatment of non-muscle-invasive bladder cancer. Right now, biotech penny stocks are seeing heightened interest as the pandemic continues to roll on. As a result, shares of SESN stock have climbed by over 215% YTD.
On August 5th, Sesen announced a partnership with Eczacibasi Pharmaceuticals Marketing. This partnership is for the commercialization of Vicinium in Turkey. Sesen will receive $1.5 million upfront and is eligible for additional payments in the future. The company will receive a 30% royalty on net sales in Turkey.
President and CEO Dr. Thomas Cannell said, “This partnership with EIP marks a further step in realizing our mission to save and improve the lives of patients, and in achieving the significant global opportunity projected for Vicineum.” SESN stock increased by over 8% on the day of this announcement. Keeping this in mind, is SESN worth adding to your list of penny stocks to watch?
Are These Penny Stocks Worth Watching Right Now?
Finding the best penny stocks to buy in 2021 all comes down to knowing where the value is. While it is difficult to say with certainty where the stock market is headed, many investors are showing confidence in the future.
Now, it may take some time before the Delta variant begins to resolve and case numbers drop, but in the meantime, now could be a good point to find the best penny stocks to watch for the long run. Considering all of this, do you think that these penny stocks are worth watching right now?