Are These Penny Stocks Worth Watching This Week?
With another week of penny stocks trading coming in hot, many investors are searching for the best penny stocks to buy. To do so, traders need to consider what is going on in the world, and how that may affect both individual small-caps and industries at large. Right now, the most prominent factor to consider is the effects of the Delta variant. In the U.S., cases are surging and globally, it seems as though the story is largely the same.
However, with higher vaccination rates in the past week, it looks like we could be moving toward the light at the end of the tunnel. But, it’s undeniable that the pandemic has created a large amount of uncertainty in the stock market. And, this uncertainty has led to higher volatility than usual.
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So as well-versed penny stocks traders, volatility can be used as an advantage. It all comes down to knowing how to trade penny stocks, and which industries could have potential in the next few months. With all of this in mind, let’s take a look at three hot penny stocks to watch this week.
3 Hot Penny Stocks to Watch This Week
- Sonim Technologies Inc. (NASDAQ: SONM)
- Drive Shack Inc. (NYSE: DS)
- Antelope Enterprise Holdings Ltd. (NASDAQ: AEHL)
Sonim Technologies Inc. (NASDAQ: SONM)
Sonim Technologies Inc. is an interesting tech penny stock that could make your watchlist. This company creates and sells rugged mobile phones and accessories for various markets. Its products include the Sonim XP8, XP5s, XP3, RS80, and more. These rugged products are sold to industrial, construction, manufacturing, and energy companies among many others.
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Because of the broadness of its reach, Sonim can capture a large range of market demand from all around the tech sector. And, given the high need for these ruggedized devices, SONM stock has benefitted with an over 10% gain in the past few days or so. On June 29th, the company announced that it has secured two design win awards with a leading U.S. carrier for two of its phones.
“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
Announcements like these are important for investors to consider as it shows how the company could grow in the coming months. While it may take some time for the full effect of these awards to be seen by investors, it is an exciting announcement nonetheless. In other recent news, the company also announced and released its RT80 rugged tablet product. With this, investors should wait to see what the adoption of this product looks like in the near future. Keeping this information in mind, will SONM stock make your watchlist this week?
Drive Shack Inc. (NYSE: DS)
Drive Shack Inc. is a penny stock many investors have been watching for its potential in the reopening economy. This company owns and operates various golf-related entertainment venues. It owns venues located in North Carolina, Florida, and Virginia. As of December 31st, 2020 the company-owned, leased, or managed 60 total properties. This large number of properties makes Drive Shack a leader in this niche of the entertainment industry. And although the Delta variant has slowed progress on reopening to some degree, many consumers are still willing to go out and utilize Drive Shack’s services.
On August 9th, Drive Shack released its second-quarter financial results for 2021. For the first time in three years, Drive Shack achieved quarterly operating income. Its operating income for the quarter was $1.1 million which is a large milestone for the company, and an impressive number, given the effects of the pandemic.
“Both our American Golf and Drive Shack businesses delivered strong financial performances as the momentum in the golf and entertainment sectors continued throughout the second quarter. Walk-in revenue at our Drive Shack venues was at an all-time high and each surpassed their pre-pandemic venue contribution levels, including Orlando delivering above break-even for the first time.”CEO and President of Drive Shack, Hana Khouri
Investors should keep a close eye on the trajectory of the Delta variant, as this could have a continued effect on DS stocks’ performance. However, with this new release of financial results in mind, will DS make your penny stocks watchlist?
Antelope Enterprise Holdings Limited (NASDAQ: AEHL)
Antelope Enterprise Holdings Limited is an industrial company that sells ceramic tiles for interior and exterior use. Its products are sold under the brands TOERTO, HDL, Hendeli, HD, Hengda, and a few others. Products included in this line are rustic tiles, porcelain tiles, glazed tiles, and many more. With the uptick in industrialization occurring as the pandemic slows in China, Antelope could see heightened demand and production for these products.
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Back in June, the company announced the pricing of a registered direct offering at $3,180,295 before commissions and expenses. This registered direct offering closed on June 14th, 2021. The company provided a separate update back in April when it released its full-year financial results for fiscal 2020. Since Mid-May, shares of AEHL stock have jumped by over 15%, which is a reflection of the potential bullish interest in the company.
“Our average selling price subsequently decreased for the second half of 2020 as compared to the same period of 2019, where the price decrease was in effect for only two months, but this mitigated what we believe would have been a greater decline in sales as compared to the modest decrease in sales volume that occurred in the second half of the year as business conditions due to the COVID-19 pandemic began to normalize.”The CEO of the AEHL, Ms. Meishuang Huang
With all of this in mind, will AEHL make your list of penny stocks to watch in August?
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, finding the best ones for your watch list can seem like a daunting task. However, with the right research on hand and a commitment to learning how to trade, investing in penny stocks can be easier than previously imagined. With all of this in mind, which penny stocks are you watching right now?
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