3 Hot Penny Stocks to Watch This Week
With a new week in August upon us, which penny stocks are investors watching? Well, to understand this we have to take into consideration what’s going on in the world. Right now, this includes the highly positive jobs report that came out last week, and large concerns over the Delta variant and its impact on reopening.
These two factors have both served to increase overall market volatility and uncertainty about the future. But, with big moves made in the stock market, there are always ways for investors to benefit.
And while it may not be clear in the short term, in the longer term, there are plenty of opportunities to find penny stocks to buy. As the pandemic continues, many investors are turning their eyes toward reopening penny stocks. These are stocks that could benefit from economic reopening. This includes entertainment companies, energy stocks, and more.
If you’re looking for a reopening penny stock, it’s best to think outside of the box on how it may be impacted by the pandemic. So, as we move further into August, now is the time to find the best companies for your list of penny stocks to watch. With that in mind, here are three to keep your eye on this week.
3 Penny Stocks For Your Watchlist Right Now
- Sphere 3D Corp. (NASDAQ: ANY)
- Altamira Therapeutics Ltd. (NASDAQ: CYTO)
- Mustang Bio Inc. (NASDAQ: MBIO)
Sphere 3D Corp. (NASDAQ: ANY)
Up by over 18% in premarket trading are shares of ANY stock. In the past five days, ANY stock has shot up by over 45% and YTD by over 200%. Today’s momentum could come from an announcement made on Friday which resulted in a premarket gain of over 54%. The announcement states that it signed into an exclusive agreement with Hertford Advisors Ltd. for the purpose of Bitcoin mining.
“This is a significant milestone for Sphere 3D as we look to the future. We are pleased to have the opportunity to place Sphere 3D as a leader in the space with state-of-the-art miners, in a very competitive market where time to delivery is paramount. We continue to look for ways to increase shareholder value while remaining true to our commitment to ESG principles.”The CEO of Sphere 3D, Peter Tassiopoulos
For some context, Sphere 3D is a tech company that has a large portfolio of brands under its name. This includes HVE ConneXions, Unified ConneXions, and SnapServer among others. These products are aimed at the IT market, solving common industry-wide problems. With the deal mentioned above, Sphere 3D could purchase up to 60,000 Bitcoin. And, given the popularity of crypto right now, this could be an interesting move to keep an eye on moving forward. Whether this makes ANY stock worth watching however is up to you.
Altamira Therapeutics Ltd. (NASDAQ: CYTO)
Altamira Therapeutics Ltd. is a biotech penny stock that has climbed by around 7% since late July. For some context, CYTO is a company that develops therapeutics for neurology, allergy, rhinology, and CNS disorders. Altamira is currently in several active trials at the moment, including one for Keyzilen which could have potential in treating inner ear tinnitus.
One of the things to consider about biotech stocks is the breadth of trials that a company is in. The more ongoing trials, the better chance a company has at seeing long-term success. On August 6th, Altamira released a statement about the protective effects of Bentrio. Bentrio is a nasal spray that is fighting against influenza A virus aka H1N1.
“Following the exciting results in SARS-CoV-2, we are very pleased to see the protective effects of Bentrio confirmed also in influenza in a highly relevant in vitro model. Thanks to its triple mode of action, which is based purely on physical effects, Bentrio can help protect against various types of virus.”The Chairman, Founder, and CEO of Altamira, Thomas Meyer
In addition to its other work, Altamira is working on this Covid treatment which could be one of the reasons for the bullish interest in the company in the past few weeks. Following this announcement, CYTO stock managed to climb by a few percentage points. Keeping this in mind, will you add CYTO to your list of biotech penny stocks to watch in August?
Mustang Bio Inc. (NASDAQ: MBIO)
Mustang Bio Inc. is a biotech company that creates cell and gene therapies for cancer, tumors, and genetic diseases. The company has MB-107 and MB-207 which are both gene therapy treatments for X-linked severe combined immunodeficiency. X-linked severe combined immunodeficiency is a rare immune system condition where people do not live beyond infancy with no treatment.
Because there is a large clinically unmet need, MBIO sees a great deal of potential in treating this illness. And while it may be a rather niche market, it could potentially be a game-changer in this area of the biotech industry.
On August 2nd, Mustang received the European Medicines Agency PRIME designation for its MB-107 treatment mentioned above. The President and CEO of the company, Manuel Litchman said, “Receiving PRIME designation is an exciting milestone for Mustang as we prepare to initiate a pivotal, multicenter Phase 2 clinical trial of MB-107 in newly diagnosed patients with XSCID at the end of this quarter.”
Just a few days after this announcement, MBIO stock pushed up by around 5.67% in the market. In the past few days, shares of MBIO stock have climbed by just over 10%, indicating sizable bullish sentiment. It’s worth considering that the company’s volume is also much higher than its market average. With this in mind, is MBIO a contender for your penny stocks watchlist?
Which Penny Stocks Are on Your Watchlist This Week?
Finding the best penny stocks to buy is all about understanding where the market is headed. With so many factors occurring simultaneously, it can seem difficult to keep track of where the money is.
However, large moves made in the market can be a great opportunity to find valuable penny stocks to buy. And in 2021, there is plenty of volatility for investors to take advantage of. With this in mind, which penny stocks are on your watchlist this week?