3 Penny Stocks to Watch to Avoid a Market Crash
Over the past year and a half, penny stocks and blue chips have been on a wild ride. Beginning with the advent of the Covid-19 pandemic last year, the entire stock market has fallen and then risen up to new highs. And, data shows that the recent bull run of the S&P 500 is the fastest doubling of the market since post-WWII. So for this reason, many investors believe that a market crash could be on the way.
And while there is little data to suggest that this will occur in a big way, it is always a possibility for investors to consider. Those who invest in penny stocks, however, usually have little to worry about as small-caps don’t like to play by the rules.
This means that even if the larger market is underperforming, there are usually major gainers to look out for in the under $5 range. But as always, investors should have a strategy for the worst, while also hoping for the best.
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Today on August 17th, many investors are watching key numbers from major retailers to see where the market could go. While expectations are high, everything is on the table right now. Despite Dow futures setting a record high yesterday, the anticipation of retail numbers is causing a slight amount of fear in the market.
And as a result, there is a high degree of uncertainty right now. But, with uncertainty comes the potential to also find value. With all of this in mind, let’s take a look at three penny stocks to watch to avoid a stock market crash.
3 Penny Stocks For Your Market Crash Watchlist
- Bridgeline Digital Inc. (NASDAQ: BLIN)
- Sphere 3D Corp. (NASDAQ: ANY)
- Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Bridgeline Digital Inc. (NASDAQ: BLIN)
Bridgeline Digital Inc. is a tech penny stock that is performing well in the market right now. In the past six months, BLIN stock has increased in value by around 20% and YTD by over 85%. This company creates a platform for corporations and people to create websites, web apps, and e-commerce stores. Its Bridgeline Unbound Experience Manager has become a useful tool for both businesses and individuals looking to create an online presence. This product is a marketing automation engine and content management system.
On August 16th after the market close, Bridgeline reported its Q3 2021 financial report. In the report, the company posted a quarterly loss of around $0.61 per share compared to a loss of $0.37 per share only a year ago. While this may be disheartening, the company did beat revenue estimates by around 6%, posting $3.45 million for the quarter.
“We won more license sales in our third quarter than ever before in the company’s history, plus Bridgeline has approximately $10 million in cash, which will accelerate sales and marketing investments for even stronger quarters to come.”
The CEO of Bridgeline Digital, Ari Kahn
While the EPS loss is notable, the company does look like it is working hard to progress into the future. Keeping this in mind, will you check out the latest financial results from Bridgeline Digital?
Sphere 3D Corp. (NASDAQ: ANY)
Sphere 3D Corp. is a penny stock that has continued to make significant strides in the market. In the past month, shares of ANY stock have climbed by over 89%, and YTD, that number jumps to almost 200%. For some context, this company creates virtualization solutions for various tech corporations. The company allows for cloud strategies, virtual storage, and much more. Its products include HVE-STACK, HVE 3DGFX, and HVE-VELOCITY.
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On August 6th, the company announced a deal for rights to Bitcoin mining agreements. This agreement includes the rights to secure up to 220,000 miners on pre-negotiated terms. The agreement also includes a lease for a 200k square foot carbon-neutral facility where the Bitcoin mining will take place. In the past few months, Bitcoin has continued to receive a sizable amount of attention. And, any companies involved in the industry, have also received more popularity than usual.
“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.”
The CEO of Sphere 3D, Peter Tassiopoulos
Considering its sizable gains, it’s clear that investors are showing bullish sentiment toward ANY stock right now. With this in mind, will ANY be on your penny stocks watchlist?
Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Up by around 15% in pre-market trading are shares of PBTS stock. This large gain and the subsequent high volume, represent an announcement made last week that should be of interest to investors. Late last week, the company reported that it planned to enter into the cryptocurrency mining industry. When this was announced, shares of PBTS stock pushed up by over 50% during intraday trading. The company stated specifically that it plans two begin Bitcoin mining by investing in a team and the proper equipment to do so.
“We are optimistic about the positive outlook of the cryptocurrency market. And, we believe our crypto mining business will generate valuable digital assets that help accelerate the company’s growth.”
The CFO of Powerbridge, Stewart For
As stated earlier, companies involved in the cryptocurrency market have been all the rage over the past few months. And with Bitcoin moving in a bullish direction in the past two to three weeks, we see another solid indication that Bitcoin could be the future.
Considering that there is still a long way to go for the widespread adoption of crypto, companies are just at the beginning of this relatively new market. And with PBTS working to enter into it, the company could be worth keeping an eye on. Considering this, will PBTS stock be on your list of penny stocks to watch moving forward?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding which companies could perform well in different economic conditions. With so many different penny stocks to choose from right now, it can seem like a daunting task to pick only a few for your watchlist.
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However, with the right research and commitment to gaining a trading education, buying and selling penny stocks can be easier than previously imagined. Considering this, which penny stocks are you watching right now?
