3 Hot Penny Stocks to Watch in August 2021
Trending penny stocks are some of the best ways that investors have found to make money with small caps. While the risk can be high with above-average volatility, the rewards can often be worth it. However, trading penny stocks is not for the faint of heart.
And with every trade, investors should understand exactly what is affecting the penny stock, and what could affect it in the long term. The best place to find penny stocks that are trending happens to be online. This includes social media sites such as Reddit and Twitter, where stocks are discussed frequently. But in 2021, there are some additional things that investors should consider.
The first and foremost is the pandemic. With increasing case numbers globally, many investors have retreated to safeguard stocks as a way to hedge bets against market drops and inflation. But, with any major news or event comes the potential for traders to make money. So, considering all of this, let’s take a look at three trending penny stocks for your August watchlist.
3 Hot Penny Stocks For Your August Watchlist
- NanoVibronix Inc. (NASDAQ: NAOV)
- Senseonics Holdings Inc. (NYSE: SENS)
- Luokung Technology Corp. (NASDAQ: LKCO)
NanoVibronix Inc. (NASDAQ: NAOV)
NanoVibronix Inc. is a biotech company that creates products for healing, pain therapy, and more. In the past five days, shares of NAOV stock have shot up by over 40%. And in the past month, that number jumps to a staggering 380% in gains. So, why the major bullish sentiment for NAOV stock? Well, to understand this, we have to take a closer look at the company.
Its main product is UroShield, which is an ultrasound to prevent bacterial colonization and biofilm in urinary catheters. And, the company recently submitted a form to get its products approved for reimbursement under Medicare. This was a big step and could play out well for the company in the long term.
On August 16th, the company reported its second-quarter financial results for 2021. In this period, its revenue went up by 18% to a total of $318,000. In the same period, the company released its OTC pain management device called PainShield RELIEF. While these announcements are not be-all-end-all for the company, they do show progress. And with penny stocks, progress is always something that investors like to see.
“We made great strides in the first half of 2021, accelerating our progress towards full commercialization of our products with expanded distribution, clearance of regulatory approvals, the launch of PainShield Plus, and the planned launch of PainShield RELIEF, which is expected to be available over-the-counter, significantly expanding our addressable market.”CEO of NanoVibronix, Brian Murphy
After this announcement, NAOV stock went up more than 33% in the market. Keeping this information in mind, will you add NAOV to your penny stock watchlist?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings is a biotech company that creates devices for patients with diabetes. Primarily, the company develops continuous glucose monitoring (CGM) systems. Its main products are Eversense and Eversense XL which are CGM systems for measuring glucose levels in those with diabetes.
Because diabetes is a disease that affects millions worldwide, Senseonics has the potential to reshape the lives of these patients. And, with its breakthroughs in CGM systems, it looks like it could be on track to continue commercializing its products.
On August 9th, the company reported its second-quarter financial results for 2021. Its revenue for the second quarter came in at $3.3 million compared to $0.26 million year over year. The company’s gross profit also increased during this period by $1.54 million. These are both sizable upticks in SENS numbers. And, they show solid growth and the fact that Senseonics products’ are beginning to see wider adoption across the board.
“In the second quarter we made progress driving increased patient and provider awareness of Eversense through a targeted direct-to-consumer digital advertising campaign and presentations of the PROMISE Study, an evaluation of our 180-day sensor, at the ADA and ATTD conferences.”The President and CEO of Senseonics, Tim Goodnow, Ph.D.
YTD, shares of SENS stock are up by over 220%, which is no small feat. And, if we look at the twelve-month chart, SENS stock has climbed by a staggering 483%. So, considering both its massive gains and the companies commitment to growth, SENS stock could be worth adding to your penny stocks watchlist.
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a tech company that provides location-based services and mobile apps for long-distance travelers in China. Its Luokuang app is a content and service distribution platform that offers entertainment, travel services, e-commerce, and many other features.
As a tech company, Luokung has operations in several different areas of the technology industry in China. It’s worth noting that Luokung also offers software development kits and application programming interfaces.
Luokung’s eMapGo product was recently named a top player in the HD maps market in China by IDC Consulting’s 2020 China Marketing Share on HD Maps. In the last two years, eMapGo’s market share in China has gone from 14.7% to 16.15%. In the past year or so, the demand for cars has shot up dramatically in China. And as a result, the demand for LKCO’s services has also increased during that time.
“We are pleased to have improved our ranking in this year’s IDC China Market Share Report as a result of our growth brought on by new customer wins over the course of 2020. It is an honor to be listed as one of the top players in China’s HD Maps industry among other longstanding, reputable companies in the space.”Chairman and CEO of Luokung Technology, Mr. Xuesong Song
Keeping this in mind, will LKCO stock make your list of penny stocks to watch in August?
Which Trending Penny Stocks Are on Your Watchlist?
Finding the best and most trending penny stocks is all about understanding where to look. With so many variables impacting the market right now, it is difficult to say with certainty just what will happen with penny stocks and blue chips in the near future.
The best advice is to stay up to date with everything occurring in the market, and to try to use that as an advantage. Considering this, which trending penny stocks are on your watchlist right now?