Are These 3 Penny Stocks Worth Buying During the Meme Stock Frenzy?
While popular penny stocks come around regularly, ones that make triple-digit gains in a short time frame do not. And, this is the case right now with Camber Energy Inc. (NYSE: CEI). In the past month, CEI stock has been on a winning streak.
What’s Going on With CEI Stock?
With 16% in gains today, shares of CEI have shot up by a staggering 137% in the past month. And although Camber Energy does have a lot to offer on its own, it seems as though this is another installment of the meme stock rally. What are meme stocks you might be asking? Well, a meme stock is a stock that climbs tremendously based on social sentiment. This includes whether or not it is trending on platforms like Reddit, Twitter, and other social media sites.
Early meme stocks include GME stock, AMC stock, SPRT stock, and a handful of others. And right now, CEI is in the middle of the meme stock frenzy. At $1.17 as of September 9th, CEI sits well in penny stocks territory. And it’s worth noting that we’ve covered CEI stock plenty of times in the past few months and even earlier this morning. In order to understand if meme stocks are worth it, investors should first take a glimpse inward at their own investing style and portfolio goals.
If you’re risk-averse, meme stocks and especially meme penny stocks may not be right for you. However, if you are inclined to invest in riskier stocks, they could be right for you. While CEI is not the first meme stock and definitely not the last, it is the latest example of how much opportunity there is to make money with penny stocks. Considering all of this, let’s take a look at three penny stocks to watch with CEI continuing its winning streak.
3 Penny Stocks to Watch Right Now
- 9 Meters Biopharma Inc. (NASDAQ: NMTR)
- Document Security Systems Inc. (NYSE: DSS)
- Oragenics Inc. (NYSE: OGEN)
9 Meters Biopharma Inc. (NASDAQ: NMTR)
9 Meters Biopharma is a biotech penny stock that has been increasing steadily in the past few weeks. In the last five days, shares of NMTR stock have climbed by around 4% and in the past month by almost 25%.
If you’re unfamiliar, this company creates products for those with rare medical needs relating to gastroenterology. One of its products is NM-002, which is in Phase 2 clinical trial to treat SBS. It also has Larazotide, which is in Phase 3 clinical trial to treat celiac disease. Both of these products have a wide potential market reach and present investors with an interesting notion of where the company could go.
On September 8th, 9 Meters announced that it will be presenting at the H.C. Wainwright 23rd Annual Global Investment Conference. The company’s CEO, John Temperato will hold a presentation virtually between September 13th and September 15th. Then, the company will make an on-demand corporate presentation accessible to conference attendees starting on the 13th.
Presentations like these may seem small, however, they present an interesting opportunity for investors to get a closer look at a company. And for that reason, if you’re interested in NMTR stock, it will be important to check these events out. Based on this news and NMTR stock pushing up in several recent trading sessions, will it make your penny stocks watchlist this week?
Document Security Systems Inc. (NYSE: DSS)
Shares of DSS stock have been on the rise in the past few trading days, despite a less than stellar day on September 9th. In the past six months, Document Security Systems has shed a sizable amount of value, but some investors believe that this could turn around.
Following a new deal that was announced yesterday, investors are waiting on bullish momentum from the company. If you’re not familiar, Document Security Systems Inc. is a company that is engaged in a variety of industries. This includes blockchain, healthcare, consumer packaging, renewable energy, and more. Because of how broad it is, it has exposure to a variety of high-momentum markets.
On September 8th, the company received a $15 million investment from Alset EHome International (NASDAQ: AEI). DSS will offer Alset 12,155,591 shares of its common stock for a purchase price of $1.234 per share. This is great news for DSS as it shows institutional confidence in its business and the potential future of the company.
“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.”CEO of Document Security Solutions, Frank D. Heuszel
On the same day of this announcement, DSS stock rose more than 10% in the market. It’s worth noting that DSS stock can be quite volatile as is seen in its recent trading patterns. But, investors should still keep a close eye on DSS stock moving forward. Whether or not it deserves a place on your watchlist, however, remains up to you.
Oragenics Inc. (NYSE: OGEN)
Oragenics Inc. is a biotech penny stock that’s received a great deal of attention in the past few months. This company creates antibiotics for infectious diseases in the United States. Its lead product is OG716 which is for treating Clostridium difficile. It is also creating a vaccine candidate for COVID-19. The latter is one of the main reasons that investors are focused on OGEN stock right now. While there are several vaccines on the market, the number of variant-related Covid cases means that there is always room for improvement.
On August 30th, the company released new preclinical data to support its approach for its COVID-19 vaccine development. Its stabilized pre-fusion spike protein trimer generated neutralizing antibodies in mice after immunization against COVID-19. This is positive news and shows that the company could become a player in the Covid-related biotech industry.
Now the platform will make the process faster for evaluating hybrid COVID-19 antigen candidates. It’s worth considering that many believe Covid-19 will become endemic. This means that it will drop in severity, however, it may never fully disappear. And as a result, many companies are looking to the future to create the best products for that scenario and the present one. Following this announcement, OGEN stock has seen its volume average increase. With this in mind, is OGEN stock worth adding to your list of penny stocks to watch?
Which Penny Stocks Are on Your Watchlist Right Now?
With so many penny stocks to choose from, finding the best ones for your watchlist can be challenging. But, because there are so many options, making money with penny stocks is entirely possible in 2021.
In order to do so, investors should have a thorough understanding of the current market conditions and what type of trader they are. So, with all of this in mind, which penny stocks are on your watchlist right now?
Read more: How To Buy Penny Stocks