3 Penny Stocks to Watch in August 2021
In the past week, both penny stocks and blue chips have taken a rather bullish turn. This is marked by higher than average volume and large gains for certain penny stocks in that time frame. While the overall sentiment in the market right now does have a high degree of uncertainty, investors are finding more comfort in the future.
The main worry on the table in August 2021 is the Delta variant and its effect on potential reopening and the continuation of Covid. But, with positive jobs numbers following a much better than expected earnings season, investors are relentlessly hopeful about the coming months.
So, while there is a lot of uncertainty in the market, the extraordinary times we are living in could bring price fluctuations that investors can take advantage of. But, the best way to do so is by having a prudent trading strategy on hand. In addition to this, there is a myriad of resources available to offer trading educations to those who need it.
And with the stock market, education and dedication to research will always be your best friend. So, considering that there are hundreds of penny stocks to choose from, make sure that you pick the best ones for your portfolio. With all of this in mind, here are three penny stocks to watch right now.
3 Penny Stocks For Your August Watchlist
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that has climbed in value by around 5% in the past month. While this may not seem like a lot, many investors choose companies like AUY for their relative stability and low volatility. For some context, this company produces precious metals in various locations around the world. These locations include Canada, Chile, Argentina, and Brazil. The company explores for and produces gold and silver ores. Currently, Yamana has an interest in the Cerro Moro mine, Malartic mine, Minera Florida mine, and the Jacobina mine among many others.
On August 6th, Yamana announced the redemption of outstanding senior notes with cash on hand and proceeds from its recently completed $500 million offerings. This will significantly reduce Yamana’s outstanding debt, extend its debt tenor, and reduce interest/carrying charges, and much more. With any company and especially those in the mining industry, capital is extremely important. And, this will likely reflect well on AUY’s balance sheet in the near future.
The company expects this redemption to strengthen the company’s overall financial position. Just a few days after this announcement was made, AUY stock pushed up by around 3.37% in the market. In addition, its volume has been much higher than its average over the past few trading days. With this in mind, will you add AUY stock to your penny stocks watchlist this month?
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is an energy penny stock that many investors are watching right now. Since July 27th, shares of CEI stock have climbed by around 7%, which reflects a similarly stable gain to AUY. The company acquires, develops, and sells crude oil, natural gas, and natural gas liquids. As of the end of last year, its estimated proved reserves were 133,442 million barrels of oil. This was comprised of over 54,000 barrels of crude oil reserves, nearly 44,000 barrels of natural gas liquids reserves, and 207,823 million cubic feet of natural gas reserves.
On August 9th, Camber Energy announced that it has acquired a majority interest in Simson-Maxwell Ltd. The company acquired a total of 60.5% interest in the company, which is a leading manufacturer and supplier of industrial engines, power generation products, and much more. With this, Camber will have access to a new capital generating asset as well as a business that could potentially help its own. And while acquisitions do occur often with penny stocks, they are always important for investors to keep in mind.
“We are very excited to be working with Remora and the entire Simson-Maxwell team, and look forward to further strengthening an already-established platform and recognizable brand to position the company for additional expansion throughout North America through the remainder of this year and beyond.”The CEO of Camber Energy
Considering this information, is CEI going to make your list of penny stocks to watch?
Acasti Pharma Inc. (NASDAQ: ACST)
Acasti Pharma Inc. is a biotech penny stock that continues to make frequent headlines in the news. And because of this, It often is considered to be a trending penny stock. To understand why let’s take a look at what Acasti does.
Acasti Pharma is a healthcare company that researches, develops, and commercializes prescription drugs to treat cardiovascular diseases. Its main product is CaPre, which is an omega-3 phospholipid therapeutic in a Phase III trial to treat patients with hypertriglyceridemia. Back in June, Acasti provided an update on its business for the year ended March 31st, 2021.
“In parallel with progressing the acquisition of Grace, we have received interest and are evaluating a variety of strategic options for CaPre. We remain highly encouraged by the outlook for our overall business prospects and look forward to providing further updates to shareholders on our strategic processes as it relates to both the Grace acquisition as well as our plans for CaPre.”The CEO of Acasti Pharma, Jan D’Alvise
Acasti has two factors that are currently in the works. On one hand, its acquisition of Grace Therapeutics could be big news for ACST moving forward. And on the other hand, its work to further commercialize CaPre could also be a big mover for the company. Based on this information, do you think that ACST stock is worth adding to your list of penny stocks to watch right now?
Are These Penny Stocks on Your Watchlist Right Now?
Finding the best penny stocks for your watchlist is all about understanding where to look. With so many different factors occurring simultaneously in the market, it can be difficult to choose just a handful of penny stocks for your list.
However, with careful research and a commitment to getting a trading education, making money with penny stocks can be easy. With this in mind, are these penny stocks on your watchlist right now?