Are These Trending Penny Stocks Worth Buying in 2021?
Finding trending penny stocks to buy in 2021 can be challenging with so many names out there. But, there are a few tips you can use to make your penny stocks watchlist as competitive as can be. The first and most important step in the process is research.
This means understanding a company’s financials, its future prospects, any speculative events going on, and what it could be doing in the future. While this may seem extensive, it truly is the best way to have a full understanding of the penny stocks you’re interested in.
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The next step is to look at the overall industry that a company works in. What is the future trajectory of that industry? Are there any events of legislative changes that could affect it? Again, these are pertinent questions that all prospective investors should ask before sending in a buy order. In 2021, there is a high amount of volatility in the stock market.
So, investors should understand what their own tolerance for risk is and how to use that to their advantage. With that in mind, do you think that these trending penny stocks are worth buying right now?
3 Trending Penny Stocks to Watch in 2021
- Leap Therapeutics Inc. (NASDAQ: LPTX)
- Yamana Gold Inc. (NYSE: AUY)
- Ideanomics Inc. (NASDAQ: IDEX)
Leap Therapeutics (NASDAQ: LPTX)
Leap Therapeutics is a biotech penny stock that has managed to climb by over 20% in the past two days or so. Gains like these can occur with biotech stocks often, however, they are always worth taking a look at. This company develops therapies for treating patients with cancer. Its main program is DKN-01 which is a monoclonal antibody treatment for prostate cancer, gynecologic cancers, and more. The company is developing a variety of other pharmaceuticals for different cancer treatments as well.
On September 13th, the company announced that it will soon present new data from a study. The company will be showing data from its DisTinGuish study of DKN-011 plus tislelizumab at the ESMO 2021 Congress. This will take place at 8 A.M. on Friday, September 17th. In patients that got a full cycle of DKN-01 therapy, the ORR was 68.2% with 90% ORR patients with DKK1-high tumors. These numbers are very solid, and reflect the positive sentiment with LPTX stock right now.
“Initial data from the DisTinGuish study is extremely promising as it shows DKN-01 in combination with tislelizumab and chemotherapy to have high response rates in first-line patients suffering from gastric and gastroesophageal junction cancer.”
Chief Medical Officer of Leap Therapeutics, Cynthia Sirard, MD
On the day of the presentation announcement, LPTX stock understandably pushed by significant margins. With biotech stocks, we often see speculative news result in major swings in price. And, this seems to be the case with LPTX stock right now. So, considering this will LPTX be on your list of penny stocks to watch?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a penny stock that many investors have been watching recently for a few good reasons. The largest reason for this is that often investors will turn to gold stocks in times of market volatility. Gold presents a stable asset that often will go up in value when the market is in a downturn.
And as a result, Yamana Gold presents a potentially more stable alternative to other penny stocks right now. This is a company that primarily focuses on the exploration, discovery, and mining of gold. In addition to gold, Yamana also explores for silver at its mines. All of the company’s locations are scattered across the Americas, such as in Canada and Brazil.
On August 24th, the company repurchased an additional 1,584,500 common shares under its share repurchase program for a total of 3,321,376 common shares for C $18 million. This took place because the company believes that the market price of its common shares doesn’t represent its full value and growth prospects, and views the purchase of common shares as an attractive investment.
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A move like this is confidence-inspiring for investors as it shows the company has faith in itself moving forward. In addition, it manages to reduce the number of outstanding shares on the market by holding them internally.
In addition to this news, Yamana recently reported positive exploration results at its producing mines. It identified new zones and targets for all of its operations. The company also provided initial positive exploration drill results at its Wasamac project. On September 13th, one day after its latest update, shares managed to push up by almost 2%. While this may not seem like much, it is substantial for a gold stock with relative stability. With all of this in mind, do you think that AUY stock is worth buying right now?
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is an industrial penny stock that has pulled in over 80% in gains in the past twelve months. If you’re not familiar with Ideanomics, it has two main businesses. On one hand, we have its Ideanomics Mobility division. This area of the company provides energy solutions, financial services, and products for businesses that want to adopt electric vehicles. Primarily, these products are offered to commercial fleet operators.
On the other hand, we have Ideanomics Capital which is a division focused on emerging fintech solutions. Both of these position Ideanomics as an interesting and potentially diversified play in the stock market.
On September 13th, the company announced that its subsidiaries WAVE, US Hybrid, and Solectract showed strong business growth in September. WAVE is a leading developer of high-power wireless charging solutions. This company will be participating in the 2021 International Zero Emission Bus Conference on September 15th-17th. Conferences like these are important for investors to pay attention to as they allow for new insight into what the company is doing.
US Hybrid is a designer and manufacturer of zero-emission electric powertrain components for OEMs. This company is moving to a new facility in Torrance, CA to keep driving the future of EV propulsion systems. Solectract is the first manufacturer and distributor of battery-powered all-electric tractors. This company will be presenting at the Farm-to-Fork Street Festival from September 17th to the 18th. With so much coming up for Ideanomics and its subsidiaries, will you add IDEX to your list of penny stocks to watch?
Are These Trending Penny Stocks Worth It
Finding trending penny stocks in 2021 is one of the best ways to make money with penny stocks. But, it’s not as simple as stumbling across small-caps that are trending online.
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Rather, investors need to have a concrete understanding of what the company does and whether or not it has potential. With all of the research done, it can be much easier to find penny stocks for your watchlist. Considering this, do you think that these trending penny stocks are worth it?
