best penny stocks to buy now

3 Penny Stocks That Investors Are Watching in October 

After a day of very positive trading on October 7th, penny stocks continue to ride the bullish wave. So far in October, we’ve had many days of encouraging bullish sentiment, while albeit, emotions do seem mixed right now. But, there are a lot of factors that investors have to contend with, in 2021. This includes Covid, inflation, political challenges, and so on. 

And as a result, the volatility in the stock market with both penny stocks and blue chips, is palpable. With an employment report coming out tomorrow on October 8th, the Dow had risen by around 381 points at EOD. This jobs report will be crucial to see how the economy is doing compared to the last few months. 

[Read More] How to Invest in Penny Stocks in October 2021

Moving forward, it’s best to consider the state of the stock market wholly. This means considering everything that’s going on, and seeing how it can be used as an advantage. And the sheer number and magnitude of aspects impacting the stock market means that there is plenty of momentum to take advantage of. 

But, one of the key steps that many investors fail to take is having a proper strategy and doing the research. These are crucial when it comes to making money with penny stocks, and can mean the difference between profits and losses. So, with all of this considered, let’s take a look at three penny stocks that investors are watching in October. 

3 Penny Stocks For Your October 2021 List 

  1. Gaotu Techedu Inc. (NYSE: GOTU
  2. Moving iMage Technologies Inc. (NYSE: MITQ
  3. Camber Energy Inc. (NYSE: CEI

Gaotu Techedu Inc. (NYSE: GOTU)

Gaotu Techedu Inc. is a penny stock that has recently increased by more than 7% in the past five days or so. This brings its one-month gain to over 16%, which is quite substantial. The company offers after-school tutoring to students in grades K-12 for the Chinese market. In addition, it provides a wide range of subjects such as math, English, Chinese, chemistry, and others. It also offers business consulting courses to principals and other administrators at private schools.

On September 21st, the company released its second-quarter results for 2021. The company’s net revenues for this period were RMB 2,232.3 million. This was a total 35.3% year-over-year increase in total. The company’s gross billings also went up 12.2% year over year to a total of RMB2,694.7 million. Gaotu’s paid course enrollments went up 4.1% year over year to 1,631 thousand.

“In order to support the equality of education, ever since May, we have successively collaborated with multiple non-profit organizations such as the China Charity’s Aid Foundation for Children, the China Youth Development Foundation, the China Next Generation Education Foundation, and the Henan Normal University through cash donation or free course offerings, to aid the revitalization of rural area education and achieve the goal of equal access of education for everyone.”

Founder, CEO, and Chairman of Gaotu, Larry Xiangdong Chen

With this new info in mind, will GOTU stock be on your watchlist this month?


Moving iMage Technologies Inc. (NYSE: MITQ)

Moving iMage Technologies Inc. is an entertainment company that offers and manufactures a wide range of cinema items and equipment for use in production. The company offers installation, bespoke engineering, tech services, software, and much more. These products are used to help with building, modernization, and equipping of motion picture exhibition theaters.

[Read More] Top Penny Stocks To Watch If You’re Playing The Esports Trend In 2021

On October 6th, the company announced the retirement of outstanding debt. About $3.1 million in debt reduction leaves substantially no outstanding debt in its capital structure. As a result, annual interest expense savings are expected to be around $0.3 million. No proceeds from Moving iMage Technologies’ IPO were used to execute the retirement of its outstanding debt.

“Alongside our IPO, becoming essentially debt-free is the second significant milestone for MiT over the past few months. This paydown immediately transformed the balance sheet while providing us with increased liquidity to invest in growth initiatives and expand margins.”

Michael Sherman, the CFO of Moving iMage Technologies

On October 7th, MITQ stock’s volume is more than double its average in the market. With this to consider, will MITQ be on your penny stock watchlist?


Camber Energy Inc. (NYSE: CEI)

Camber Energy Inc. is an oil and gas penny stock we have discussed frequently in the past few months. With an almost 100% gain today, shares of CEI continue to catch the public’s attention. For some context, CEI is a company that acquires, develops, and sells crude oil, natural gas, and natural gas liquids. The company had total estimated proved reserves of 133,442 barrels of oil equivalent as of March 31st, 2020.

On Wednesday in a filing with the SEC, the company stated that a sudden increase in its share count occurred because of an institutional investor’s conversion of preferred shares. The company said that offering a reverse stock split would reduce its ability to offer shares at the same ratio in which it splits the stock.

At the end of the SEC filing, Camber Energy stated, “The Company is therefore not considering such a reverse stock split at this time.” In the last few days, CEI stock experienced a large dip in price. Now on October 7th, CEI stock is up over 95% by EOD in the market. Its volume is also at a very high 925 million compared to an average of 139 million. With this in mind, will CEI be on your list of penny stocks to watch?


Which Penny Stocks Are You Buying Right Now?

While buying penny stocks in 2021 can be challenging, there is plenty of momentum to take advantage of. Now, you should always ensure that you have a proper trading strategy on hand in combination with a thorough understanding of your portfolio goals. This will help to ensure that you are investing in penny stocks that are right for you. 

[Read More] What Are Penny Stocks? 3 to Watch if You’re New to Investing

And, it also takes thinking outside of the box to consider how certain worldly events could affect individual penny stocks or industries. So, with all of this in mind, which penny stocks are you buying right now?

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Is This A Penny Stock To Buy: Fitbit Inc (NYSE:FIT)?

Wearable tech has been one of the biggest innovations in consumer-facing technology…

Looking To Buy Penny Stocks Right Now? 3 To Watch

3 Penny Stocks To Watch This Week We’ve got a brand new…