3 Penny Stocks to Watch That You Should Know About Right Now
After a great day of trading penny stocks on September 22nd, many investors are looking for the best small-caps to buy. Now, it’s worth noting that there are hundreds of stocks under $5 to choose from, which offers plenty of options for all types of investors.
And in the past two to three months, volatility has been extremely high among both penny stocks and blue chips. This means that if you have a proper trading strategy, market fluctuations can be used as an advantage. To have the best chance at making money with penny stocks in 2021, investors should have a thorough understanding of the current market conditions.
Right now the most impactful factor on the stock market is Covid. As a result of Covid, we’ve also seen high economic inflation and a sizable amount of uncertainty regarding the future. This uncertainty can be fully blamed for the large up and down trading days that we’re witnessing right now. One thing to keep in mind is that penny stocks don’t like to play by the rules.
This means that even when the overall market is down, we can still find winning penny stocks to buy. With a new month around the corner, investors are excited for the potential of a clean slate. Considering all of this, let’s take a look at three penny stocks that might deserve a place on your watchlist.
Are These Penny Stocks Worth Adding to Your List?
- Predictive Oncology Inc. (NASDAQ: POAI)
- Castor Maritime Inc. (NASDAQ: CTRM)
- Endo International plc (NASDAQ: ENDP)
Predictive Oncology Inc. (NASDAQ: POAI)
Predictive Oncology Inc. is a penny stock that went up significantly in price during trading today. By EOD, shares of POAI shot up by over 16%, bringing its YTD gain to over 56%. For some context, Predictive Oncology is a healthcare company that offers a variety of biologic-focused products and services. Currently, it manufactures environmentally conscious systems to collect and dispose of infectious fluids from surgical procedures. Its STREAMWAY System is a wall-mounted fully automated fluid disposal system that provides uninterrupted performance for physicians.
On August 11th, the company reported its financial results for the quarter ending June 30th, 2021. Predictive Oncology also provided a business update on the same day of its financial results. During this quarter, the company received net proceeds of $19.4 million from a registered direct equity offering. This contributed to Predictive Oncology’s total cash balance of $44.9 million. This was a huge increase over its December 31st, 2020 number of $2.6 million.
“Predictive Oncology believes the results from this quarter show growth opportunities in our business segments, consistent with our goals and business objectives, and with even greater potential in the future.”CEO of Predictive Oncology, J. Melville Engle
Moving forward, the company’s subsidiaries TumorGenesis and Soluble Biotech have announced the construction of new GMP facilities by the end of the year. This is big news and should stay at top of mind if Predictive Oncology is on your watchlist. With all of this new information considered, will POAI be on your list of penny stocks to watch?
Castor Maritime Inc. (NASDAQ: CTRM)
Castor Maritime Inc. is a penny stock that managed to climb by over 3.5% by EOD on September 22nd. This company transports a large range of dry bulk cargo via its fleet of vessels. Its seaborne transportation services involve the transport of iron ore, coal, grains, steel, cement, and much more. On a fully delivered basis, Castor will have a sizable fleet of 27 vessels. These vessels will have the capacity to carry roughly 2.3 million dwt in total.
On September 22nd, the company announced new charter agreements and the delivery of its M/V Magic Mars. The M/V Magic Mars was financed in its entirety with cash on hand. This vessel and the M/V Magic Argo have been fixed on-time charter contracts that have gross daily charter rates higher than $30,000. The M/V Magic Mars has a duration of 75 days, while the M/V Magic Argo has a duration of 90 days.
“Our well-timed expansion plans in early 2021 and persistent focus on prompt deliveries of acquired vessels, allow our Company to take advantage of this strong market with a dry bulk fleet consisting of 19 vessels on a fully delivered basis.”The CEO of Castor Maritime Mr. Petros Panagiotidis
Following this announcement, CTRM stock understandably pushed up in value in the market. Over the last month, CTRM stock has continued to show bullish sentiment. With this in mind, will CTRM stock make your penny stocks watchlist?
Endo International plc (NASDAQ: ENDP)
Endo International plc is a biotech penny stock that’s witnessed solid bullish momentum in the last few trading days. This company sells generic and branded pharmaceuticals in various countries. Its XIAFLEX product is for treating adults with Dupuytren’s contracture. It also has NASCOBAL nasal spray for treating vitamin B12 deficiency. Endo’s LIDODERM product is a topical patch for relieving pain. The company has many other products in addition to the ones mentioned.
On September 22nd, Endo released its first and only generic version of Chantix tablets in the U.S. This product has been launched by one of its operating companies, Par Pharmaceutical Inc., and has started shipping the generic version of Pfizer’s Chantix. The 0.5mg and 1mg tablets have started shipping amid the final approval from the FDA for its Abbreviated New Drug Application.
Par’s product, varenicline, is the first and only available FDA-approved generic version of Chantix in the United States. According to IQVIA, sales for the tablets were $1 billion for the 12 months ending June 30th, 2021. Senior VP and General Manager Jon Holden said, “As a reliable, quality supplier, Par is proud to help people during this critical time while also expanding our product portfolio.” On the day of this announcement, ENDP stock managed to climb up over 9%. Its volume is also much higher than its average right now. With this in mind, will ENDP make your penny stock watchlist in September?
Are You Investing in Penny Stocks Right Now?
While 2021 has not been an easy year for investors, there is plenty of gaining potential in the market right now. But, understanding what is making the market move and how to take advantage of that, can mean the difference between profits and losses.
In addition, it is prudent to have a proper trading education and a strategy, to ensure that you have the best chance at making money with penny stocks. With this in mind, are you investing in penny stocks right now?