3 Penny Stocks That Investors Are Watching in October 2021
Investing in penny stocks in 2021 is not for the faint of heart. However, with the right strategy on hand and a commitment to finding out all you can about certain penny stocks, it can be much easier than previously imagined. While many think that penny stocks are only listed on OTC markets, by definition, they are any stock trading under $5 per share. This means that there are hundreds of choices that can be traded on virtually any brokerage platform.
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And because penny stocks tend to be highly volatile, many investors have turned to them as a way to secure short term gains. While making money with penny stocks is very much possible, many investors fail to engage in the proper research and understanding of a given stock or industry.
Now, if you’re short term or swing trading, it’s more pertinent to focus on chart patterns and upcoming events, however, if you’re long term trading, research will be your best friend. Regardless, the only way to make money with penny stocks is to have a proper trading strategy and to use it. With all of that considered, let’s take a look at three popular penny stocks that investors are watching in October.
3 Penny Stocks to Add to Your October Watchlist
- Gran Tierra Energy Inc. (NYSE: GTE)
- Harmony Gold Mining Company Limited (NYSE: HMY)
- Investview Inc. (OTC: INVU)
Gran Tierra Energy Inc. (NYSE: GTE)
Gran Tierra Energy Inc. is a penny stock in the oil and gas industry that has been performing well this week. In the past five days, shares of GTE stock have climbed by over 25% which is quite substantial. And, in the past month and YTD periods, that number jumps to over 55% and 150% respectively. For some context, this company searches for and produces oil and gas in a variety of regions. Gran Tierra’s assets are located in both Ecuador and Colombia. The company had total proved undeveloped reserves of 26.2 million barrels of oil equivalent as of December 31, 2020.
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On August 3rd, the company released its second-quarter results for 2021. During the quarter, the company increased production by 14%, averaging 23,035 barrels of oil per day. In addition, the company’s full-year production projection of 27,500 to 28,500 barrels of oil per day was reinforced. These are positive signs, especially considering the heightened demand for oil and gas right now.
“With production restored, we expect Gran Tierra to generate second half 2021 free cash flow of $100-120 million. With a constructive oil price environment, a successful first half 2021 drilling program, and the expiry of our first half 2021 oil price hedges, we are very excited about the second half of 2021 and all of 2022.”
President and CEO of Gran Tierra, Gary Guidry
In the past week or so, trading volume for GTE stock has been much greater than the previous few weeks. With this in mind, will GTE stock make your October watchlist?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a gold mining penny stock that has been performing well in the past week or so. During that time, shares of HMY stock have climbed by around 10% to over $3.40 per share.
For some context, Harmony Gold, as its name suggests, mines for gold, silver, copper, and uranium. It then engages in the extraction and processing of these compounds. The majority of its operations are conducted in South Africa and Papua New Guinea, both of which have proven to be quite beneficial to Harmony.
A few months ago, Harmony published an operational update for the fiscal year ending June 30th. During this timeframe, the company’s revenue increased by 45.2% year over year. In addition, its net debt was reduced by 52% year over year.
These results were excellent for the company, but they were not the only factor influencing its stock price. HMY stock often moves up and down in the market in close proximity to gold prices. This makes sense considering that gold is its main asset. Noting this info, will you add HMY stock to your watchlist this month?
Investview Inc. (OTC: INVU)
Investview Inc. is a tech penny stock that has climbed by almost 500% in the past twelve months. This is a sizable gain despite some less than stellar performance in the past six months. However, over the last day or so, shares of INVU stock have been increasing in bullish sentiment.
Investview is a company that provides financial education, research, and technology to its clients. It offers investment tools, advisory services, and a variety of other solutions to assist its clients. Crypto mining and adaptive blockchain technologies are also offered through the company. Additionally, the company educates individuals about the bitcoin industry at large.
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On September 21st, the company provided an update on its monthly results. In August, the company achieved gross revenue of $9.8 million, which was a total 223% increase year over year. The company’s income from operations rose 1,213% during this same period as well. Investview’s net revenue was $8.7 million, a total 198% increase year over year. What’s worth noting is that its iGenius and SAFETek subsidiaries were an integral part of this success. These results are exciting, and have not yet been fully reflected in INVU’s share prices.
“We continue to be pleased with the results of our business segments, iGenius and SAFETek. Our subsidiary iGenius, which delivers financial education, technology, and research to individuals recorded its highest gross revenue from subscription sales for the month, a result of continued growth in our subscription membership.”
The CFO of Investview, Ralph Valvano
On October 6th, INVU stock’s volume was about double its average in the market. Investors should keep in mind that as an OTC stock at around $0.12, shares of INVU stock can be quite volatile. However, with its recent momentum and high volume, it could be worth adding to your list of penny stocks to watch.
Which Penny Stocks Are You Buying Right Now?
If you’re looking to make money with penny stocks, there are plenty of options. However, before you press the buy button, make sure that you know exactly what your tolerance for risk is. This is the best way to ensure that the stocks on your list, align with your portfolio and investing goals. So, with all of this in mind, which penny stocks are you buying right now?
