Are These 3 Hot Penny Stocks Worth Watching in 2021?
With penny stocks heating up in September, there are a few things that all prospective investors need to know. For one, there is an overwhelming amount of volatility in the stock market right now. This is the result of the pandemic mostly, but also a combination of economic inflation and geopolitical issues.
In addition, the rise of ‘meme stocks’ which are stocks pushed up by social media sentiment, has brought on even more volatility into the market. And while this may sound like a challenging environment to invest in, there are plenty of ways to take advantage. Aside from having an investing strategy and understanding how the market is moving, traders can use current events to try and predict upswings and downtrends.
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For example, with Covid cases beginning to decrease, some investors have turned toward reopening penny stocks such as entertainment stocks and energy stocks. But, in order to do this, investors need to work with their own threshold for risk in addition to a unique trading strategy. This is the best way to stay ahead, and to only invest in stocks that you’re comfortable with.
At the end of the day, investing is an individual task that should be thought of as such. And for that reason, knowing what type of investor you are will always be a major asset. Considering this, let’s take a look at three hot penny stocks that top investors are watching right now.
3 Hot Penny Stocks to Watch in September 2021
- Document Security Systems Inc. (NYSE: DSS)
- Jaguar Health Inc. (NASDAQ: JAGX)
- Globalstar Inc. (NYSE: GSAT)
Document Security Systems Inc. (NYSE: DSS)
Document Security Systems Inc. is a penny stock that shot up by over 10% during trading today. This brings its five day gain to over 16% which is no small feat. For some context, this company creates packaging and security solutions. The company is involved in the manufacturing and marketing of these products. Document Security Services also develops utility-scale solar farms and secure living solutions.
On September 8th, DSS received a $15 million investment from Alset EHome International (NASDAQ: AEI). DSS will issue over 12 million shares of common stock at $1.234 per share. The CEO of DSS, Frank D. Heuszel said, “The mutually beneficial relationship with Alset positions both companies to accelerate growth moving forward as we work together toward a shared vision of success and a brighter future for the world.” This is great news for both companies, and shows that there is sizable institutional faith in the future of DSS as a company.
On the day that this announcement was made, Document Security Systems went up more than 10% as mentioned above. And it’s worth noting that its volume is also much higher than its average in the market. With many different business segments, DSS stock has several attractive qualities that investors should take into consideration. With that in mind, will you add DSS stock to your penny stocks watchlist in 2021?
Jaguar Health Inc. (NASDAQ: JAGX)
Jaguar Health Inc. is a biotech company that we have discussed plenty of times in the past few months. And, as an interesting player in the biotech industry, JAGX has made big strides during that time. As for its role in the biotech industry, Jaguar has a range of development-stage pharmaceuticals in the works.
Its products are aimed at treating GI issues in people and animals. One of its main products, Mytesi, is for the relief of noninfectious symptomatic diarrhea in adults with HIV/AIDS. It is developing Crofelemer as well, which is for chemotherapy-induced diarrhea in dogs. While these products are for a specific market, Jaguar Health is working hard to become a major player in the GI-related prescriptions market.
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On September 3rd, the company announced a 1-for-3 reverse stock split. This split was approved by the majority of common stock shareholders at a December 2020 meeting. Shares of Jaguar common stock began trading on a split-adjusted basis on September 8th, 2021. This is a common occurrence in the stock market as it can help to raise capital and increase liquidity.
“We are grateful to our shareholders for voting to approve the proposal for a reverse stock split, and – in support of our strategy of focusing on long-term investors – we have decided to implement a reverse stock split at this time to get Jaguar’s quoted stock price more in line with typical institutional investing requirements.”
President and CEO of Jaguar, Lisa Conte
It will be interesting to see how this split affects the company in the long term. With this in mind, is JAGX going to make your list of penny stocks to watch?
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is one of the biggest gainers of the day, pushing up by over 29% by EOD. This brings its one month gain to over 89% for a YTD rise of over 690%. These numbers are large, and show that there is a sizable amount of bullish sentiment surrounding GSAT stock right now.
Before we get into why shares of GSAT are up right now, let’s talk about what it does. Globalstar is a company that offers mobile satellite services. It has a variety of products such as voice and data products for safety, emergency, remote business, and recreational use. Its SPOT satellite GPS messenger is used for personal tracking and emergency location.
After rumors were put out that the next iPhone may have satellite connectivity, GSAT stock shot up on the potential that it could be involved. Many theorized that Globalstar would become the provider of these products to Apple, which would understandably be a huge deal. And on top of that it has been confirmed that Globalstar’s competitor will not be the provider of the services already.
Since these rumors emerged, GSAT stock has gone up from $1.43 per share to $2.69 per share on average. It will be interesting to see what occurs down the line with these rumors, and whether or not they will come true. For an added bonus to investors, Apple will be holding an event announcing the new iPhone in about a week. For now, will you add GSAT to your list of penny stocks to watch?
Are Penny Stocks Worth It In 2021?
Finding the best penny stocks to buy in 2021 can be challenging. But, with the right research on hand and a dedicated investing strategy, it can be much easier than previously imagined.
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Considering that there are so many penny stocks to choose from, understanding how the market is moving will always be a big benefit to your portfolio. With all of that in mind, do you think that penny stocks are worth it in 2021?
