3 Penny Stocks to Check Out If You’re Making A Watchlist Right Now
October 2021 has gotten off to a great start for penny stocks. While many trading days have started on a negative note, we have seen many days end on a major upswing. Although there is a lot of volatility with both penny stocks and blue chips right now, this momentum is something that investors like to see.
The reason is that constant movement allows investors to take advantage of intraday or intraweek price swings. And because penny stock investors tend to swing trade more often than not, daily movement is very desirable. Now, if you’re a long term investor, there are still plenty of penny stocks to choose from, however, it’s worth taking a deeper dive to see its long term performance.
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In October, there are several factors that investors need to consider. First and foremost is the continued effects of the pandemic. While Covid cases have slowed down in many parts of the world, the pandemic is still around, and causing uncertainty in the stock market. On top of this, we also have economic issues, geopolitical tensions, and widespread inflation to contend with.
These factors mean that the volatility we’re witnessing right now, it not likely to go anywhere anytime soon. So, if you’re investing in penny stocks in 2021, it’s best to stay as up to date as possible with the news and current events. Considering this, let’s take a look at three penny stocks that could be worth watching right now.
3 Penny Stocks to Watch in October 2021
- Aditxt Inc. (NASDAQ: ADTX)
- Ring Energy Inc. (NYSE: REI)
- Globalstar Inc. (NYSE: GSAT)
Aditxt Inc. (NASDAQ: ADTX)
Aditxt Inc. is a biotech penny stock that managed to climb by over 8% by EOD on October 5th. If you’re not familiar, this company creates AditxtScore, a tool that allows people to analyze, control, and track their immune profiles in order to be alerted to immune system threats. It also offers Apoptotic DNA Immunotherapy, which is a nucleic acid-based technology that uses an approach that mimics the way the body naturally induces tolerance to its tissues.
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On October 5th, AiPharma Global Holdings LLC signed a binding agreement to sell all of its assets through the sale of one of its wholly-owned subsidiaries to Aditxt Inc. AiPharma is the rights holder of the antiviral tablet Avigan / Reeqonus / Qifenda that has treated over 1.5 million COVID-19 patients to date. The new business will be focused on the prevention, treatment, and monitoring of the virus.
“The completion of this acquisition would position Aditxt uniquely to prevent, treat, and monitor COVID-19 by combining our commercialized AditxtScore COVID-19 test with a potential prophylactic and at-home treatment for the disease. While initially targeting COVID-19, our combined clinical and commercial platform would address unmet needs in other viral indications.”
The Co-Founder and CEO of Aditxt, Amro Albanna
Following this announcement, ADTX stock understandably climbed in the market. Considering this, will you be adding ADTX to your list of penny stocks to watch?
Ring Energy Inc. (NYSE: REI)
Ring Energy Inc. is another penny stock that increased in value on October 5th. By EOD, shares had jumped by around 2% bringing its five day gain to over 26%. What’s more exciting is that in the past YTD period, shares of REI stock have shot up by an astounding 440% to its current price of around $3.60 per share.
If you haven’t heard of Ring Energy, it is an oil and gas company that has proven reserves of roughly 76.5 million barrels of oil equivalent as of December 31, 2020. It also owns 6,650 acres of net undeveloped land and 18,712 acres of net developed land. Marketers, end-users, and other buyers are among the clients of its oil and natural gas production.
On August 9th, the company announced its second-quarter results for 2021 and increased its drilling plans for the second half of 2021. Ring’s sales volumes increased substantially in the second quarter of 2021. The company’s free cash flow and adjusted EBITDA also drastically increased over the previous quarter and year.
“We were pleased with our overall results for the second quarter, including another period of generating free cash flow and further paying down long-term debt. Supporting our second quarter and 2021 year-to-date performance was a continued emphasis on driving operational efficiencies and the ongoing benefits afforded from our successful development program.”
Chairman and CEO of Ring, Mr. Paul D. McKinney
On August 5th, REI stock’s volume is at over 18.7 million compared to an average of 2 million. This indicated heightened popularity and sizable investor interest. With this in mind, will REI make your penny stock watchlist?
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a penny stock that many investors have been focused on in the past few months. For some added context, this business provides mobile satellite services to customers all around the world. It offers a wide range of speech and data devices for safety, emergency, offshore business, and recreational applications. Personal tracking and emergency locating are also possible with its SPOT satellite GPS messenger.
Many were excited for Globalstar last month amid rumors that the next iPhone may have satellite communications using its services. After this did not take place, GSAT stock fell hard in the market. But could things be changing for Globalstar right now?
On October 5th, the company’s stock price is up 2% on no company-specific news. While GSAT stock did fall amid the bad news, it is still higher than it was for most of August and the first half of 2021. It seems like, despite no partnership with Apple, investors still believe in Globalstar. Noting this information, is GSAT a contender for your list of penny stocks to watch?
Which Penny Stocks Are on Your October Watchlist?
Finding the best penny stocks to buy in 2021 can be complicated. But, with the wide breadth of information available online, investors have all the resources in the world to stay on top.
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With research and a strong investing strategy at hand, making money with penny stocks can be much easier than previously imagined. So, with all of that in mind, which penny stocks are on your October watchlist?
