3 Penny Stocks For Your Weekly Watchlist Right Now
With another month of trading penny stocks only a few days away, investors continue to look for the best small-caps to watch. Last week, we saw the rise of Support.com (NASDAQ: SPRT), which brought in a five-day gain of over 184%.
And with a 40% pre-market gain so far, SPRT stock is up by over 1,110% in the past six months. While this is a major positive for those invested in SPRT stock, it also presents a promising sign for both penny stocks and the stock market as a whole.
In the past few months, momentum has been unabashedly slow. And as a result, many trading days have ended in the red or mostly flat. But, SPRT stock presents a potential paradigm shift, showing that investors are ready for a new beginning of bullish trading.
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Although we still have the ongoing pandemic investors are becoming more and more comfortable with the trajectory of Covid. So, with September only a few days away, many traders are hoping that it could signal a bullish turnaround for a market that so desperately needs just that.
As always, investors should consider the high volatility with both penny stocks and blue chips right now. But, with a proper trading strategy, it can be much easier to avoid the downside of market fluctuations. Considering all of this, let’s take a look at three penny stocks to watch to start your week off right.
3 Penny Stocks to Watch Right Now
- Transocean Ltd. (NYSE: RIG)
- SOS Limited (NYSE: SOS)
- Sphere 3D Corp. (NASDAQ: ANY)
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is an energy penny stock that has shot up by over 16% in the past five days. This brings its YTD gain to over 58%, which is a reflection of the bullish sentiment around the energy industry right now. For those unfamiliar, Transocean is a company that provides offshore contract drilling services for oil and gas wells.
The company contracts drilling rigs, equipment, and work crews to drill at oil and gas wells. Additionally, Transocean has an interest in and operates a fleet of 37 mobile offshore drilling machines. This means that it has quite a broad reach in the energy industry right now.
On August 26th, the company secured a $252 million contract for its newbuild ultra-deepwater drillship. The Deepwater Atlas is expected to begin its operations in the third quarter of 2022. It will initially use dual blowout preventers that are rated to 15,000 psi. This is a major positive for the company, and could bring in consistent cash flow and revenue into the foreseeable future.
“We are extremely pleased to have secured the maiden contract for the Deepwater Atlas; the first of our two 8th generation ultra-deepwater drillships that will enter the market in 2022, both of which will be outfitted for 20,000 psi ultra-deepwater well operations.”
President and CEO of Transocean, Jeremy Thigpen
Following this announcement, RIG stock understandably increased in value. So, with this in mind, will RIG stock be on your list of penny stocks to watch in 2021?
SOS Limited (NYSE: SOS)
SOS Limited is a tech penny stock that has seen some solid bullish interest from investors in the past few trading days. With an over 85% YTD gain and big ties to cryptocurrency, SOS stock remains a popular choice for some traders right now. For some context, SOS Ltd. provides data mining and analysis services to insurance companies, financial corporations, medical institutions, healthcare providers, and more. SOS Limited also has operations with cryptocurrency mining and blockchain-based insurance.
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In June, the company entered a joint agreement with Niagara Development to accelerate its blockchain operations in the United States. Niagara will provide up to 150MW of electricity to SOS Limited for a cryptocurrency mining operation. In turn, SOS will manage, operate, and finance this joint venture. The use of sustainable energy is also extremely important here, as cryptocurrency has become synonymous with a detrimental environmental impact.
“SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance, and other industries. We decided to acquire a sustainable power supply as far as possible, as we expand our blockchain operations into North America and look forward to successful operation of the joint venture.”
The Chairman of SOS, Yandai Wang
With a bullish turnaround for the company occurring in August, many traders are excited to see what September has in store for the company. Whether this makes SOS stock worth adding to your penny stocks watchlist remains up to you.
Sphere 3D Corp. (NASDAQ: ANY)
Sphere 3D Corp. is a penny stock that we have discussed frequently in the past few months. With a five-day gain of over 20% and a one-month gain of over 50%, many traders are focused on ANY stock right now. If you’re not familiar, Sphere 3D provides data management, desktop, and application virtualization solutions. These allow organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications and more.
On August 20th, the company announced an MSA and agreement to purchase additional carbon offset credits. The agreement is to clean an additional 250,000 tons of carbon from the atmosphere. The master services agreement between Sphere 3D and Gryphon allows Sphere to use the Gryphon team for more crypto mining equipment.
This shows that Sphere 3D is working hard to make a name for itself in the ESG penny stocks category. ESG or environmental, social, governance, is a category of companies that are committed to environmental and social causes and conduct business in this way.
“I think the additional credits that we purchased provides both companies with greater flexibility for locations to host the increased deliveries of crypto mining equipment we have previously announced.”
CEO of Sphere 3D, Peter Tassiopoulos
On August 27th, ANY stock shot up by more than 17% in the market. In addition, its volume was much higher than its average, showing the increased popularity of ANY stock right now. Keeping this in mind will ANY make your list of penny stocks to watch this month?
Which Penny Stocks Are You Watching in September?
Finding the best penny stocks to buy this month is all about understanding where the market is headed. With so many factors occurring simultaneously, it can be difficult to keep up.
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But, if we pay close attention to the current events and the trajectory of the stock market, making money with penny stocks can be much easier than previously anticipated. Considering this, which penny stocks are you watching in September?
1 comment
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