3 More Penny Stocks You Need to Know About in October 2021
With October getting off to a rolling start for penny stocks, many investors are looking for the best small caps to buy. It’s worth keeping in mind that making money with penny stocks in 2021 has been difficult without a solid understanding of the current market conditions.
And for that reason, it is extremely important to stay as up-to-date as possible with geopolitical, economic, and events related to Covid. These three topics alone help to guide where the stock market is going in both the short and long-term future. And as a result, investors with the most information at hand, are the ones with the best chance at seeing profits.
Another aspect of investing right now is that the market is highly volatile. 2021 has been a banner year for volatility, and this is largely being driven by high speculation and uncertainty about the future. So, it’s best to understand what your portfolio goals are and how to use that to your advantage.
However, in October, there are plenty of big gainers such as Progenity Inc. (NASDAQ: PROG), up 29% at midday, and Zomedica Corp. (NYSE: ZOM), up 11% at midday. These are two examples of companies that are being driven up by speculation and news. It’s worth noting that this article is a continuation of ‘Are Penny Stocks Worth Buying? Check These 3 Out Right Now‘. So, if you haven’t read that, go and give it a look. Considering all of this, let’s take a look at three penny stocks to watch right now.
3 More Penny Stocks For Your October Watchlist
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is an oil and gas penny stock that has continued to make gains over the past few weeks. Despite a 15% drop during today’s trading session, shares of CEI are up by almost 400% in the past month. We’ve been covering CEI stock quite a bit due to this rise and the frequency at which it is trending online.
[Read More] 3 Hot Penny Stocks to Watch in October 2021
If you’re still unfamiliar, Camber is a company that acquires, develops, and sells a variety of products in the oil and gas industry. Its products include crude oil, natural gas, and natural gas liquids. As of March 31st, 2020, its estimated proved reserves were 133,442 million barrels of oil. At the time, this came out to over 54,000 barrels of crude oil reserves, nearly 44,000 barrels of natural gas liquids reserves, and 207,823 million cubic feet of natural gas reserves.
Back in August, the company’s majority-owned subsidiary Viking Energy Group Inc. released its second-quarter results for the quarter ended June 30th, 2021. The company’s revenue already went up year over year from 2019 to 2020. Now Viking’s revenue has increased once again, making it the third consecutive year in a row. In 2020, its revenue was $9,549,863; in 2021, its revenue is $10,696,633.
“We are pleased with Viking’s second-quarter results, and are very excited about steps we have taken subsequent to the end of Q2 to strengthen the organization, including Viking’s recent acquisition of a majority interest in Simson-Maxwell Ltd., a leading power generation and energy solutions company.”Camber’s President and CEO James Doris
September has been a great month for CEI investors, as its stock price has gone up a lot in the market. Currently, CEI stock’s volume is about 4 times higher than its average in the market. With all of this in mind, will CEI stock be on your October penny stocks watchlist?
BIO-key International, Inc. (NASDAQ: BKYI)
BIO-key International is a biotech penny stock that has increased by over 11% this past month. For those unfamiliar with the company, BKYI specializes in the integration of modern technology with Identity Access Management. Its key clientele are those in the financial, healthcare, education, manufacturing, and transportation industries. The company engages in a large range of business opportunities internationally with partners in Africa and China.
BIO-key recently announced a partnership with Intelisys Communications Inc. This company is a major industry innovator of technology services and solutions. The plan for this partnership is to form a Master Agent Referral Partner Program which will expand the capability of both companies. While partnerships do happen often in the stock market, they are always exciting for companies and investors alike. And this is no different as it could help to build a stronger future for both companies involved.
“This is a great milestone for BIO-key as we continue to grow our channel program and ensure that we have geographic coverage in the top markets. We look forward to working together with Intelisys to help solve security and identity and access management challenges for the enterprise as we look to a safer future.”BIO-key Chief Revenue Officer, Fred Corsentino
This is great news for the two companies and shows that there could be growth if all goes well. Considering this, does BKYI stock deserve a spot on your list of penny stocks to watch?
T2 Biosystems (NASDAQ: TTOO)
T2 Biosystems has been one of the lower-price penny stocks to watch for a few weeks. Since hitting new 52-week lows last month, TTOO stock has managed to strongly bounce back. The initial catalyst that helped with this, came as the company reported that its molecular diagnostic test, T2SARS-CoV-2 Panel was able to detect the Mu and Iota variants of the SARS-CoV-2 virus with “high confidence and reliability.”
Given the fact that COVID remains a hot button in the stock market this year, TTOO stock caught the attention of traders. The T2SARS-CoV-2 Panel has previously proven its capability in detecting the Delta variant along with the B.1.1.7, B.1.351, and P.1 variants, according to the company.
This week the company made more headlines after being awarded a $6.3 million BARDA contract option for advancing the development of biothreat detection using its T2MR technology. While headlines weren’t immediately available from the company, the Federal Procurement Data System website showed this information.
Besides COVID, T2’s panels are designed as diagnostic devices at a basic level. In this case, the T2MR platform was built to measure how water molecules react in the presence of magnetic fields. Over 200 studies were published in peer-reviewed journals featuring this platform. It’s able to detect targets in a range of media including whole blood, plasma, serum, saliva, sputum, and urine. With this latest government win, TTOO stock has hit the radar of traders at the start of October.
Are These Penny Stocks on Your Watchlist?
Finding the best penny stocks to buy right now can be challenging with so many options available. But, with a constant stream of movement in the stock market, there is plenty of momentum to take advantage of. Considering this, which penny stocks are you watching right now?
To read about the other penny stocks on this list, head to Are Penny Stocks Worth Buying? Check These 3 Out Right Now