Are you looking for some penny stocks to watch today? You’re not alone. But there is something to be said when it comes to the strategies used. It’s easy to pull up social media sites like Reddit or Twitter and track sentiment trends. Thanks to the growing popularity of meme stocks, these outlets have become some of the most popular places to find information.
Social media has become the new “investor round table” that “hedgies” have had access to for decades. Now the tables have turned a bit more in favor of retail traders. The exchange of ideas is now more accessible than ever. With that, there are plenty of things to focus on.
Should you pay attention to financial news outlets? Are you supposed to only focus on what’s being said on social media? On the other hand, what should you take from what you read in articles like these? They’re all good questions, and no single answer is right or wrong, depending on your strategy.
Penny Stocks To Watch Right Now
In this article, we’ll look at some penny stocks to watch after recent developments. Something else you’ll notice is that we’re not just talking about any list of penny stocks. These are companies with shares trading below $2 right now. Will they be top names to watch in October? I’ll let you decide on that.
- Alpha Esports Tech (OTC:APETF) (CSE:ALPA)
- Meten EdtechX (NASDAQ:METX)
- Darkpulse Inc. (OTC:DPLS)
- Seanergy Maritime (NASDAQ:SHIP)
- Evolve Transition Infrastrucutre (NYSE:SNMP)
1. Alpha Esports Tech (OTC:APETF) (CSE:ALPA)
Alpha Esports has gained some momentum since gaining DTC eligibility late last month. What this effectively allowed the company to do is gain more exposure to online brokerages. Fast-forward a few weeks, and APETF stock managed to climb from under $0.20 to over $0.30 as of this week. One thing that may have helped drive momentum is Alpha’s progress made since its public debut earlier in 2021.
One of the core points of focus has been on its GamerzArena platform and expanding its reach across the global esports ecosystem. According to the company, it boasts over 100,000 active users and a rapidly evolving ecosystem that allows for everything from player development to competitive ecosystems for new gamers to access. There’s even a cryptocurrency angle to the company via its Alpha Coin (See more on Alpha Coin)
Alpha has already reported partnerships and & working relationships with top names in sports, entertainment, and education. These include The New Jersey Devils, The Vancouver Whitecaps, Barstool Sports, ESPN Radio, Devil Child, Oxygen Esports, Notre Dame, Syracuse University, and Penn State, to name a few.
Alpha also became the Official Online Gaming Portal of Nets Gaming Crew, the NBA 2K League affiliate of the Brooklyn Nets. This week, Alpha extended its reach further with a new partnership with Esports Entertainment Group for designing computer vision technology systems for GamerzArena to conduct automated scoring for popular games.
Alpha is quickly building a solid footing in the market by spanning the global scale, including India, Brazil, and North America. Led by experienced names from Red Bull, Reel One Entertainment, The Golden State Warriors, Mount Sinai, Victory Square Technologies, Activision, and Atari, Alpha is emerging as one of the esports stocks to watch in 2021.
2. Meten EdtechX (NASDAQ:METX)
While companies like Alpha focus on folding cryptocurrency into things like online gaming, Meten has taken a different approach. With the growing popularity surrounding the “DeFi” movement, tech companies are doing what they can to gain exposure.
The company’s core model centers around English learning services in China. Furthermore, it’s focused on advancing its digital platforms to extend its reach into growth opportunities that tech offers. So, where does the “DeFi” angle come into play?
Meten reported developing a blockchain and cryptocurrency business to transition the company into “a new benchmark among innovative enterprises.” According to the company, it includes everything from Dogecoin to NFTs. The hype surrounding these technologies has wrapped METX into this crypto and blockchain technology arena. However, like with most low-priced stocks, risk can also play a significant role. METX stock is sitting well below $1 right now, which has made for volatile sessions over the last few months.
While the fundamental situation seems to thing on digital finance, some technical trends may have become a focus. In particular, if you look at the METX stock chart, you’ll see what I mean. Ever since March, the penny stock hasn’t been able to break and hold above its 50-day moving average for an extended period. Whether or not this remains a sticking point moving ahead is to be seen. However, if METX is on your list of penny stocks to watch, it could be something to consider.
3. Darkpulse Inc. (OTC:DPLS)
Sticking with this technology stock trend, Darkpulse has become one of the penny stocks we’ve followed for the last few months. Its shares saw a solid surge to highs of just over 20 cents in July but have since come back to around the 10-cent area.
DarkPulse specializes in security management solutions and, more precisely, ultra-high sensitivity infrastructure monitoring technology. In particular, its security tech focuses on infrastructure security and health. Darkpulse’s sensing technology can monitor things like pipelines and mining data while also having capabilities of identifying structural issues within the aerospace and aeronautic engineering settings.
This week the company announced its latest milestone thanks to its OPTILAN subsidiary. The sub completed the first year of operation on the BTC pipeline project. Why is that important? Thanks to that, it was awarded a continued Support and Maintenance contract for the system.
“This contract on the BTC pipeline will take our involvement in the project beyond a decade, which is a superb achievement that we’re proud of…We’ve had an incredibly strong year with a number of significant contract wins on some world-leading projects. We’re looking forward to continuing that for the final quarter of 2021 and into 2022.”Bill Bayliss , Chief Executive Officer of Optilan
The BTC or Baku-Tbilisi-Ceyhan Pipeline company is a joint-venture company whose major shareholder is BP. It awarded Optilan a contract for an additional 2-year term for maintaining the project.
4. Seanergy Maritime (NASDAQ:SHIP)
The reopening trend is a strong one in the stock market today and over the last year. Originally coined “epicenter stocks” by market analysts like Fundstrat’s Tom Lee, the idea is relatively straightforward. Companies that were hit hard by the global pandemic could benefit the best in the event of a vaccine and economies reopening. With both in toe, reopening stocks are in a bright spotlight right now. Part of this is supply chain and logistics.
There’s no secret that we see inflation. Whether or not it’s transitory isn’t as important as the fact that supply chain bottlenecks are playing a part. Seanergy is a shipowner providing dry bulk transport services. According to the company, following its next delivery, the company operates a fleet of 16 Capesize vessels with an average age of 11.5 years. Aggregate cargo carrying capacity also sits at just over 2.8 million dry weight tons.
One of the drivers of speculative momentum has been Seanergy’s Twitter feed. The company has made it well-known that there’s a significant value in Cape vessel rates right now. In a tweet from the end of September, the company tweeted out that cape vessel rates were $75k/day and that “SHIP has unique benefit through index-linked contracts for most of the fleet.”
Seanergy is helping supply everything from raw materials like iron ore to bulk goods. According to the company, Seanergy has built strong relationships with RioTinto, AngloAmerican, Vale, Cargill, BHPBilliton, and others.
5. Evolve Transition Infrastructure (NYSE:SNMP)
Sticking with the reopening trend, Evolve is filling a bit of a different role. Thanks to a strong push for carbon neutrality, global governments are embarking on renewable energy initiatives. The tricky part right now is that there isn’t any infrastructure built that uses green energy itself. Basically, there aren’t many solar-powered bulldozers, cranes, etc., to fulfill a complete carbon-neutral build. This is an extreme example, but I think you understand the idea. That doesn’t mean companies aren’t working toward something like this.
Evolve isn’t necessarily making bulldozers. However, its latest deal with Nuvve Holdings Corp. (NASDAQ: NVVE) and Stonepeak Partners will see the formation of a JV named Levo Mobility. This uses Nuvve’s V2G (vehicle-to-grid) technology, money from Stonepeak, and Evolve to speed up the development of electric fleets. Stonepeak and Evolve plan to deploy up to an aggregate $750 million capital commitment to Levo.
This week Evolve announced that it officially regained compliance with the NYSE American exchange to continue listing. With this, optimism continued in the stock market today focused on SNMP stock. Thanks to the global green energy initiative, attention has centered around companies involved with all aspects of the renewables ecosystem, and Evolve has found itself as part of the conversation.
Best Penny Stocks To Watch Right Now
Finding the best penny stocks to buy seems simple, but taking time to do your research is essential. Even if you want to go off of momentum scanners, understanding the source of that momentum can help you find opportunities and/or avoid potential risks. At the end of the day, your goal is to make money with penny stocks. The more you know, the better prepared you’ll be.
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