3 Penny Stocks to Watch That Shot Up on August 27th
With a new month of trading penny stocks on the horizon, there is plenty for investors to keep track of. After the SPRT stock rally, which saw shares skyrocketing by over 100% today, traders are once again enthused about buying penny stocks.
Keep in mind that SPRT stock was a penny stock only a few weeks ago, and now, shares are sitting at around $50 as of midday on August 27th. While this is not common by any means, it does happen. And when it does, it reignites the fire that investors feel to find the next best penny stocks to buy.
In 2021, there are quite a few factors to consider for investing. And the most prominent right now and in the past year and a half has been the pandemic. With Covid cases continuing to rise as the result of the Delta variant, many investors are looking for stocks that could benefit. And there are two ways to go about this.
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On one hand, we have penny stocks that could see gains from the pandemic. And on the other hand, we have penny stocks that could benefit as the pandemic ends (reopening penny stocks). Both of these could have value, but it is important to think outside of the box to see which may have more gaining potential. So, with all of this in mind, let’s take a look at three penny stocks to know with September only a few days away.
3 Penny Stocks to Add to Your September Watchlist
- Sphere 3D Corp. (NASDAQ: ANY)
- Bridgeline Digital Inc. (NASDAQ: BLIN)
- Aterian Inc. (NASDAQ: ATER)
Sphere 3D Corp. (NASDAQ: ANY)
By EOD on August 27th, shares of ANY stock had climbed by over 19%. At its EOD price of $5.32 per share, ANY stock is technically no longer a penny stock. So, why did shares of Sphere 3D shoot up so heavily today? Well, the answer lies in an announcement made only a day prior.
On Thursday, August 26th, Sphere announced that a company it owns a stake in, Minority Equality Opportunities Acquisition Inc., announced the pricing of its IPO of 11 million units. The units will be sold at an offering price of $10, and will trade on the NASDAQ under the symbol MEOAU. Minority Equality Opportunities is an SPAC company, or one that is used to form mergers and complete acquisitions. While the detail of any acquisition is unknown right now, this is definitely an exciting prospect for ANY stock.
For some context, Sphere 3D is the owner of several brands in the tech industry. This includes HVE ConneXions, UCX ConneXions, and SnapServer. These products all work in the IT space, and help customers to work toward fulfilling their technical goals. So, considering this big announcement and the potential for the future, will ANY stock be on your watchlist next month?
Bridgeline Digital Inc. (NASDAQ: BLIN)
BLIN stock is another big gainer today, pulling in over 19% in gains by EOD. This brings shares of BLIN stock to just under $4.90, meaning it is edging out of penny stock territory. YTD, shares of BLIN stock have shot up by over 87% and in the past twelve months by over 144%.
So, what does Bridgeline Digital do? Bridgeline works by offering revenue increasing methods to companies in the online product market. It helps to grow revenue by increasing traffic online, which can help to boost both conversion rates and the average value of each order.
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During the pandemic, customers have increasingly turned to e-commerce to fulfill their shopping needs. And, this trend does not look like it is going anywhere anytime soon. Earlier this week, Bridgeline announced that its software was selected by five industry-leading manufacturing businesses for its services.
“We’re excited to connect our new partners in manufacturing with new revenue growth opportunities by increasing conversion rates with Bridgeline’s Hawksearch.”The CEO of Bridgeline, Ari Kahn
This is great news for the company, and it states that it could bring in as much as $300,000 in capital. While this is by no means a be-all-end-all deal, it should help with both the adoption of Bridgeline’s product, and it could also show positivity in BLIN’s next balance sheet. Whether this makes BLIN stock worth adding to your list of penny stocks however, is up to you.
Aterian Inc. (NASDAQ: ATER)
Last but certainly not least is one of the biggest gainers of the day, ATER stock. At over $6 per share, ATER is technically no longer a penny stock. And while it started the day at under $4.15 per share, after a 46% rise, many investors are paying attention to Aterian Inc. In the past five days, shares of ATER stock have shot up by over 87% indicating major bullish sentiment. So, to understand why, let’s take a closer look.
While no news was announced sparking this gain, we did see many tech penny stocks climb during today’s session. However, it did report its second quarter 2021 financial results only a few weeks ago. In the results, the company reported 14% growth in its revenue YoY to $68.2 million. In addition, it managed to grow its gross margin from 46.7% to 48% in addition to decreasing its operating expenses from $29.4 million to $28.4 million.
“This has been a challenging quarter for e-commerce marked by a global supply chain crisis, inflation and an extreme shift in consumer behavior due to the opening of brick and mortar stores after the relaxation of COVID-19 related restrictions.
Despite the difficult environment and significant increase in product variable cost, our sales grew on average 20% on a proforma basis across all fourteen brands compared to the second quarter of 2019.”The Co-Founder and CEO of Aterian Inc., Yaniv Sarig
Considering this, do you think that ATER stock is worth adding to your watchlist?
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, finding the best ones for your watchlist can be complicated. But, with the right research and investing strategy, making money with penny stocks can be easy.
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It’s important to consider everything that’s going on in the market in order to adapt your portfolio and goals to the current state of the world. With all of this in mind, which penny stocks are you watching right now?