3 Penny Stocks to Watch With the Stock Market Down Today
With the stock market down today, many investors are looking for penny stocks that could show growth potential. And in any down market, there are always plenty of opportunities to be had. However, the hard part comes with knowing where to look.
Right now, there are a few industries that investors are watching for both the short and long term. This includes energy penny stocks and retail penny stocks among others. Both of these industries play into the pandemic and could benefit if case numbers continue to drop.
On one hand we have the energy industry, which has seen steady growth over the past year or so. While initially, energy stocks dropped as a result of the pandemic, more people are traveling and returning to work, which means higher fuel consumption.
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And because of this, many investors believe in both the short and long-term value of the energy sector. Of course, we have to consider the difference between fossil fuels and renewables, but regardless, there is a lot of bullish sentiment surrounding energy as a whole right now.
On the other hand, we see a similar story with retail penny stocks. When the pandemic began, retail stocks took a hit, and shortly after, they began to rise. And now, with retail sales increasing, there are plenty of penny stocks that could be worth watching. Considering all of this, let’s take a look at three penny stocks to watch right now.
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3 Penny Stocks For Your Watchlist Right Now
- Tellurian Inc. (NASDAQ: TELL)
- Gran Tierra Energy Inc. (NYSE: GTE)
- 1847 Goedeker Inc. (NYSE: GOED)
Tellurian Inc. (NASDAQ: TELL)
Tellurian Inc. is a penny stock that has shot up by around 40% in the past six months. This brings its YTD gain to over 139%, which is a reflection of both Tellurian’s business model and the energy industry right now. For some context, Tellurian is an energy company that operates in the natural gas sector. It has a portfolio of natural gas production, liquefied natural gas marketing, and infrastructure assets in Louisiana and Texas.
On August 3rd, the company reported its second-quarter results for 2021. In the results, it stated that it is continuing to build its integrated global natural gas businesses at the moment. Tellurian has entered liquefied natural gas sale and purchase agreements with Gunvor Singapore Pte Ltd and Vitol Inc. for a total of six million tons per annum. The company ended the quarter with $111.9 million in cash and cash equivalents.
“Tellurian’s strengthened balance sheet and commercial success, combined with supportive market fundamentals, enable Driftwood’s continued progression. We exercised our long-term lease option with the Port of Lake Charles and have started on owner’s projects for site preparation.”
President of Tellurian, Octavio Simoes
In the last month since these financial results were released, TELL stock has increased in market value. And with the energy sector only showing more bullish sentiment as of late, TELL stock could be worth adding to your September penny stocks watchlist.
Gran Tierra Energy Inc. (NYSE: GTE)
Gran Tierra Energy Inc. is another energy penny stock that has been increasing steadily in the past few weeks. YTD, shares of GTE stock are up by over 54%, with a one-year gain of over 130%. This company explores for and produces oil and gas at properties located in Colombia and Ecuador. As of December 31st, 2020 the company had total proved undeveloped reserves of 26.2 million barrels of oil equivalent.
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On the 3rd of August, Gran Tierra reported its second-quarter results for 2021. The company’s average total production of 23,035 BOPD was up 14% year over year. The company then reaffirmed its full-year production guidance for 2021. These are both positive announcements, and they show that there is direct evidence of heightened energy demand right now.
“Despite the challenges with blockades during the Quarter, we are very pleased that we have now safely and diligently ramped operations back up throughout our Colombia portfolio. Although the blockades temporarily impacted Gran Tierra’s production volumes, the stronger Brent oil price environment more than offset the effect of lower production volumes, as demonstrated by our higher oil sales and EBITDA figures.”
President and CEO of Gran Tierra, Gary Guidry
Right now, GTE stock is performing well in the mid-length time frame. Considering this info, will GTE be on your list of penny stocks to watch in 2021?
1847 Goedeker Inc. (NYSE: GOED)
1847 Goedeker Inc. is a penny stock that has been at the forefront of the retail boom in the past year and a half. Despite a less than stellar past few months, shares are up by around 60% since the end of May. After hitting a high of almost $15 in February, GOED stock plummeted on major Covid case increases.
But, we did see a bullish turnaround in May that has brought it back up to around $3 as of September 8th. If you’re not familiar, GOED is a company that offers an e-commerce platform to sell electronics, fitness equipment, outdoor appliances, and more. Goedekers also provides appliance installation services and old appliance removal services.
On August 12th, the company announced its second-quarter results for 2021. The company achieved 53.1% year-over-year growth of its combined proforma revenue at $140.1 million. The company’s combined proforma net income was $17.3 million, while its combined proforma adjusted EBITDA was $15.2 million. It seems as though these numbers have yet to be reflected in its share price, as they are overwhelmingly positive.
“We believe our strong second-quarter proforma results reinforce the many operational benefits and synergies presented by the Appliances Connection acquisition. Now that the transaction is closed, we are well-positioned to scale and aggressively pursue our intermediate-term goal of achieving $1 billion in annual revenue.”
CEO and Director of 1847 Goedekers, Doug Moore
Since these financial results were released, GOED stock has increased and investors are hoping that these gains can continue. So with this in mind, will GOED be your penny stock watchlist this month?
Which Penny Stocks Will Make Your List in 2021?
In 2021, there are a lot of factors that are affecting penny stocks. This includes everything from Covid to economic inflation and certain geopolitical issues. While this has resulted in a very volatile market, this volatility is something that can be taken advantage of.
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With the right tools on hand and an individualized trading strategy, it can be much easier to make money with penny stocks than previously imagined. Considering all of this, which penny stocks will make your list in 2021?
