3 Penny Stocks to Watch As August Comes to an End
Penny stocks are heating up right now. With more momentum in the stock market over the past few weeks, many investors are once again looking for the best penny stocks to buy. It can be complicated, as there are hundreds on the list of penny stocks to choose from.
But, with some careful research, investors can find all the information needed to make a proper decision. In the past few months, both blue chips and penny stocks have seen some tumultuous trading. Previously, it looked as though we were on the way out of the pandemic.
However, with the advent of the Delta variant, case numbers began to skyrocket once again. And, the result of this was and is fear in the market, and heightened volatility. So, as investors get used to the effects of the Delta variant, we have seen more bullish days in the past two weeks or so. But, it’s worth understanding that there is plenty of movement in the market right now.
And with the right strategy at hand, traders can take advantage of this to make money with penny stocks. So, try to stay as up-to-date as possible with the news, and understand how it could affect certain penny stocks or industries. At the end of the day, the most informed trader will always be the one with the best chance of making profits. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks For Your Watchlist Right Now
Farmmi Inc. (NASDAQ: FAMI)
Over the past six months, FAMI stock has garnered a lot of attention for its frequent spikes in value. If you haven’t heard of it, Farmmi Inc. is a company that both produces and sells agricultural products. Specifically, the company sells fungi products such as shiitake, bamboo fungi, agrocybe aegerila, and much more.
These products are sold to various distributors and restaurants. The company operates Farmmi Jicai, which is an online store selling edible fungi products under the Forasen and Farmmi Liangpin brands.
On August 25th, the company announced that it has been benefitting from accelerating sales growth. Farmmi has a production capacity in place to support a large expansion of its sales at the moment. The company plans on accelerating its growth more via product innovation and enhancing its customer relationships. Over the past few months, news has shown that FAMI is working to further its export business. If it can, it would be big news for the company and its future.
“Our success is led by consistent execution, sales growth, and increased profitability. We are benefitting from higher global demand and our advantaged position with best-in-class products and superior taste.”CEO and Chairwoman of Farmmi, Ms. Yefang Zhang
On the same day as this news release, FAMI stock went up by 6% in the market. With this new information to note, will FAMI be on your penny stocks watchlist before September?
Forwardly Inc. (OTC: FORW)
Forwardly Inc. is a company that provides identity theft solutions to people and corporations. The company gives guidelines and tips for keeping your personal information safe, and technology to fix identity theft. Its products are distributed online and through brick-and-mortar locations. Despite a correction today, shares of FORW stock have shot up by over 31% in the past five days and over 1,100% in the past twelve months.
On August 25th, the company announced that a company it partly owns, Ligand Innovation Global, received significant designations under the patent cooperation treaty. The patent cooperation treaty makes it possible to seek patent protection for an invention in a large number of countries.
“I have long believed that Dr. Olakulehin’s concept for a portable ventilator was unique and the IPEA has now confirmed my opinion. Ligand is well on its way to providing an efficient and economical device to aid in the battle against the current pandemic and other threats to patients’ respiratory system.”Medical Board of Advisors member, Dr. Michael Soffer
Throughout the pandemic, ventilators have become a large topic of conversation. And, the shortage of ventilators has led to heightened innovation around these products. So, to make one that is portable would without a doubt be a game-changer in the medical industry. On the same day of the announcement, FORW stock increased by 29.92% in the market. Keeping this in mind, will you add FORW to your list of penny stocks to watch?
Infinity Pharmaceuticals Inc. (NASDAQ: INFI)
Infinity Pharmaceuticals is a biotech penny stock that has climbed by over 25% in the past five days, 55% in the past month, and 200% in the past twelve months. This company creates medicines for patients with cancer. One of its products is IPI-549, which is for treating triple-negative breast cancer, tumors, and more. So why has INFI stock been going up in the market?
At the end of July, the company released its financial results and a company update for 2021. This is when the company reported data that eganelisib has the ability to reprogram macrophages in the tumor environment. This can improve outcomes for patients that have two distinct types of cancer.
“Specifically, when combined with current standard of care therapies, the data showed that eganelisib increased overall survival in patients with metastatic urothelial cancer and prolonged progression-free survival in patients with TNBC.
These data provide preliminary but compelling evidence of eganelisib’s potential to improve outcomes for patients with these two types of cancer.”Infinity Pharmaceuticals, Adelene Perkins
In the last month, INFI stock has gone from about $2.35 per share to $3.46 per share. This significant growth has attracted new investors to the company. With this in mind, is INFI stock a contender for your list of penny stocks to watch?
Buying Penny Stocks in 2021
When it comes to buying penny stocks in 2021, there is quite a lot to consider. With hundreds of small caps to choose from, it can be very difficult to find ones that are worth it.
But, if you do the proper research and spend time learning about each stock, making money with penny stocks can be doable. Considering this, do you think that penny stocks are worth it in 2021?