Are These 3 Penny Stocks on Your Watchlist in 2021?
Finding the best penny stocks to buy is all about understanding where the market is headed. But, many investors opt to find penny stocks that others may not know about. This can be a great strategy if there is potential with the underlying penny stock, but, investors need to do as much research as they can.
The research needed involves understanding everything from balance sheets to financials, and any speculative factors impacting the company. In 2021, there is a long list of external impacting factors to consider before putting any money into the market.
First and foremost is Covid and the impact of the Delta variant. While many thought that case numbers were declining, the new variant has done just the opposite. But with this, traders can use this as an opportunity to find penny stocks that could be valuable in the meantime. This could include tech penny stocks, biotech penny stocks, reopening stocks, and more.
In line with this, traders should think outside of the box to maximize their potential returns. Thinking outside of the box can help you to find penny stocks that others may not have thought of. And in the world of trading stocks, any edge can be your best friend. Considering the high volatility in the stock market right now, there are plenty of companies showing value. With that in mind, let’s take a look at three penny stocks that you may not have heard of.
3 Penny Stocks to Watch in August 2021
- Dare Bioscience Inc. (NASDAQ: DARE)
- Meta Materials Inc. (NASDAQ: MMAT)
- Celsion Corporation (NASDAQ: CLSN)
Dare Bioscience Inc. (NASDAQ: DARE)
Dare Bioscience Inc. is a biotech penny stock that is up by almost 30% in the past year. After hitting a one-year high of over $3 per share, DARE stock quickly corrected back to its current level of around $1.50 per share. For some context, Dare Bioscience is a clinical-stage company that creates products for women’s health.
Its clinical-stage studies include therapies for contraception, fertility, sexual health, and vaginal health. The market on women’s health is very large, and one that only a handful of companies are capitalizing on right now. And as a result, DARE stock has seen heightened attention in the past few months.
On August 12th, Dare Bioscience provided its financial results and a company update. In June, the company submitted a New Drug Application to the FDA. In addition to this, the company announced various other positive advancements in several of its trials.
Dare’s cash and cash equivalents went up from $4.7 million to $9.1 million year over year, which is quite substantial and reflects its commitment to increasing its balance sheet. With any biotech stock, capital is always the most important method to grow. And, free cash is a great indicator of this, alongside revenue, and any fundraising events that have taken place.
“Consistent with our guidance, we submitted our New Drug Application for DARE-BV1, a potential new first-line treatment for bacterial vaginosis, to the FDA in June. Our NDA was accepted for filing and received Priority Review with a PDUFA target date of December 7, 2021.”CEO of Dare Bioscience Inc., Sabrina Martucci Johnson
Whenever a drug moves through the approval process, investors watch each stage like a hawk. This is one of the best ways to understand where a company could be headed and whether there is gaining potential along the way. Considering all of this, will DARE make your list of penny stocks to watch?
Meta Materials Inc. (NASDAQ: MMAT)
Meta Materials Inc. is a penny stock that has climbed in value by over 107% YTD. If we look at the 12-month chart, we see that shares of MMAT stock have shot up by a staggering 380% or so. This gain is a reflection of several deals that the company has made throughout that time frame.
If you’re wondering what Meta Materials does, this company works in the industrial sector as a smart materials and photonics creator. Meta Materials as its name suggests creates various materials and nanocomposites, as well as laser glare protection eyewear. These products are sold to companies in the industries of aerospace, automotive, medical, energy, and more.
On August 12th, Meta Materials released its second-quarter results for 2021. In the results, its total revenue increased by 197% in the quarter to $624,320 from $210,344. For the first half of 2021, the company’s total revenue went up 88% year over year. Its net loss did rise during this period which is to be expected with a revenue increase that substantial. And despite this, the major increase in its revenue is a great sign for investors to consider.
While shares of MMAT stock have not had the best few weeks, some investors believe that it could turn around following these exciting results. With that in mind, it will be interesting to see how Meta Materials progresses from here. For now, will MMAT stock make your watchlist in August 2021?
Celsion Corporation (NASDAQ: CLSN)
Celsion Corporation is a biotech company that develops and commercializes a long list of products. The primary focus of Celsion is to develop directed chemotherapies, vaccines, and DNA immunotherapy. One of its products is ThermoDox, which is in Phase 3 trial to treat primary liver cancer. With any biotech company, investors like to see a pipeline that is in the various stages of trials. Because Celsion has a product in Phase 3, it could mean that it is close to commercialization with ThermoDox.
On August 12th, the company reported its financial results for 2021 and provided a business update. Celsion reported a net loss of $5.4 million compared to $5.3 million the previous year. Its operating expenses rose 6% in the same period which does not look like anything too concerning. In addition to this, Celsion completed a new $10 million strategic loan facility with Silicon Valley Bank.
“GEN-1, our oncology-focused immunotherapy, continues to show encouraging resection results at the 100 mg/m² dose cohort in the Phase II OVATION 2 Study. These results are consistent with those reported from our earlier Phase I trials in advanced-stage ovarian cancer.”Chairman, President, and CEO of Celsion, Michael H. Tardugno
One week after this news was released, CLSN is up 2.75% in the market and YTD by over 21%. Keeping this in mind, will CLSN make your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy right now can be challenging. But, if investors take the factors impacting the stock market one by one, a potentially profitable strategy can be made.
With any investment, having a proper trading strategy will mean the difference between profits and losses. And with penny stocks, this is true to a greater extent. Considering all of this, which penny stocks are you watching right now?