Are These Hot Penny Stocks on Your Watchlist Right Now?
With the last week of August almost here, penny stocks traders are looking for the best small-caps to watch. And while a new month is not a complete paradigm shift for the stock market, it does present a clean slate for investors to take advantage of. With penny stocks, speculation is always quite high. And this means that something as small as a new month could set off a bullish reaction in certain industries.
To understand which industries penny stocks are seeing gains in right now, we have to consider what the current state of the market is. This means looking at recent news and working to find trending penny stocks or industries. And the main impacting factor on the market right now and in the past year and a half has been Covid.
With cases rising again as a result of the Delta variant, many investors are showing uncertainty about the future. This uncertainty has led to many flat trading days and a high amount of volatility. So, as we move into September, let’s take a look at three hot penny stocks to watch right now.
Read more: How To Buy Penny Stocks
3 Hot Penny Stocks to Watch Right Now
- DatChat Inc. (NASDAQ: DATS)
- Meta Materials Inc. (NASDAQ: MMAT)
- Luokung Technology Corp. (NASDAQ: LKCO)
DatChat Inc. (NASDAQ: DATS)
DatChat Inc. is a tech company working in the software industry. Specifically, the company develops a mobile messaging app called DatChat Messenger as well as its Private Social Network product. These applications allow users to communicate with privacy and protection.
DatChat has also created a blockchain-based communications platform for businesses and consumers to connect in a decentralized way. In the past year or so, the industry surrounding blockchain has increased substantially in both value and popularity. And as a result, companies like DatChat have as well.
On August 17th, DatChat announced the closing of a $12 million initial public offering. The company’s initial public offering was for 2,891,567 shares of common stock. These shares of common stock were placed at a public offering price of $4.15 per share. Since this has happened, DATS stock has gone up a lot in the market.
Now on August 24th, DATS stock is at $6.08 per share on average. While it technically is no longer a penny stock, it was only a few trading days ago. In the past month, shares of DATS stock have shot up by over 89% with over 60% of that coming in the past week. Keeping this information in mind, is DATS a contender for your list of penny stocks to watch?
Meta Materials Inc. (NASDAQ: MMAT)
Meta Materials Inc. is a penny stock that has been increasing substantially in the past few trading days. Over the past five days, shares of MMAT stock have shot up by over 25% and YTD by over 160%. For some context, this company creates various functional materials and nanocomposites in Canada. Its NANOWEB product is a transparent conductive film that has been called revolutionary and could become a game-changer in the material science industry. Its metaAIR product is an eyewear enhancer used for laser glare protection.
On August 12th, the company released its second-quarter results for 2021. The company’s total revenue increased by 197% to $624,320 during this period. For H1 2021, its total revenue went up by 88% compared to H1 2020. This news was great for both the company and investors of MMAT stock. These numbers are substantial, and show that MetaMaterials is working hard to grow as quickly as it can. And while its revenue may be small right now, it does look like the company is still in the early stages of commercializing these products.
In other recent news, the company just announced that 3 new scientists have joined its Scientific Advisory Board. Andrea Alu, Ph.D., Mark Brongersma, Ph.D., and Nader Engheta, Ph.D. will help the company grow its scientific innovation and develop new technologies.
“The scientists who have generously agreed to join our Scientific Advisory Board will play an inspirational role, working closely alongside our own teams to challenge, validate and guide our scientific agenda – aligning our priorities with our customers and the world’s ever-evolving needs.”President and CEO of Meta Materials, George Palikaras
With this new info to note, is MMAT a contender for your penny stocks watchlist in August?
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is another tech penny stock that has seen solid bullish interest in the past few weeks. In the past five days, shares of LKCO stock have shot up by over 13%, bringing its YTD gain to over 100%. This company provides location-based services and mobile apps. Its Luokuang app distributes content and services such as travel, entertainment, e-commerce, and more. In addition to these amenities, the company offers software development kits and app programming interfaces.
On August 5th, Luokung’s subsidiary eMapGo won a Gaogong Intelligent Car Golden Globe Award. Chairman and CEO Mr. Xuesong Song said, “To win this award in the company of other reputable international players in the field is an absolute honor. We believe the strength of our product and service offerings will serve us well as we look to expand our client base and partnerships within the autonomous driving industry.”
When August 12th came around, IDC Consulting named Luokung’s eMapGo as a top player in China’s HD maps market. The market for HD maps in China has been growing rapidly in the past few months. In fact, studies show that the HD maps market in China has a market growth rate of 70%. eMapGo has increased its market share in China from 14.7% to 16.15% in the last year. And as a result, many investors believe in the future of LKCO. Keeping all of this in mind, will LKCO stock make your watchlist in 2021?
Are Penny Stocks Worth It or Not?
Are penny stocks worth it? This is a question that many investors ask, and the answer completely depends on what type of trader you are. If you are more inclined to practice day trading, the options for penny stocks to buy are limitless. However, if you are a more conservative investor, it may be best to find less volatile penny stocks.
Regardless, understanding what type of trader you are and how to benefit can mean the difference between profits and losses. Considering all of this, are penny stocks worth it or not? The choice is yours.