best penny stocks to buy now

3 Penny Stocks That Could Be Worth Watching At Current Prices 

With penny stocks and blue chips taking a bullish turn by midday, investors continue to search for the best stocks to buy. And while it is easy to stumble upon big gainers of the day, it can be beneficial to look at penny stocks that may not have performed as well. In the stock market, we tend to see a natural and consistent ebb and flow. This means that one day a stock may be down, while the next it may be up. 

Now, we have to consider the exception that if news is causing a drop, it could lead to a large bearish move. However, if no news has come out, and price movement is occurring singularly, it could be worth looking into. Often after a stock rises significantly, we will see a corresponding correction. 

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What goes up must come down right? However, we also see that some stocks tend to rise after dropping significantly. Of course, investors should still do their own research to see why a stock is rising or falling. But, looking at the biggest losers of the day could be as valuable as looking at the biggest gainers. Considering this, let’s take a look at three penny stocks that could present an interesting opportunity at current levels. 

3 Penny Stocks to Watch in Mid-October 2021 

  1. Kintara Therapeutics Inc. (NASDAQ: KTRA
  2. Meten Holding Group Ltd. (NASDAQ: METX
  3. Camber Energy Inc. (NYSE: CEI

Kintara Therapeutics Inc. (NASDAQ: KTRA)

Kintara Therapeutics Inc. is a biotech penny stock that creates anti-cancer therapies for patients. The company both develops and commercializes these therapies. It is actively developing VAL-083 which is used to treat drug-resistant solid tumors, ovarian cancer, small-lung cancer, and more. Currently, Kintara has a strategic collaboration with Guangxi Wuzhou Pharmaceutical Co. Ltd. to manufacture and sell the product in China.

Despite being down by over 8% during today’s trading, shares of KTRA stock have shot up by more than 16% in the past five days. At $0.92, shares of KTRA are also well below their recent high of over $2.40 in June. While today’s drop is likely a correction due to its major gain earlier in the week, Kintara could present an opportunity moving forward.

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On September 29th, Kintara provided its fiscal year 2021 financial results and a corporate update. Kintara’s cash and cash equivalents, working capital, total assets, and more, all rose year over year significantly. The company had higher costs in some respects such as R&D and general and administrative, but investors seem to be looking at the more positive side of things.

“As we embark on a new fiscal year with a strengthened cash position from our recent financing, I’m extremely pleased with where the Company is positioned on the clinical and corporate development fronts.”

The President and CEO of Kintara Saiid Zarrabian

On October 13th, KTRA stock price went up by 4.58% in the market. The company’s volume is also more than 6 times higher than its average in the market. This shows that KTRA is trending right now, which makes sense given its recent upticks. With this in mind, will KTRA make your penny stock watchlist?


Meten Holding Group Ltd. (NASDAQ: METX)

Meten Holding Group Ltd. is a penny stock that has experienced some major ups and downs in the past few months. Much of this price movement has to do with new and updated regulations in China surrounding education based-businesses. For some context, Meten is a company that offers for-profit education services in China.

Primarily, Meten offers English language training services to students. It also offers adult and junior English language training services under the Meten, ABC, and Likeshuo brand names. Meten actively has 105 self-operated learning centers and 13 franchised learning centers.

Back in September, the company closed a $60 million underwritten public offering of ordinary shares. It also closed pre-funded warrants to purchase ordinary shares. This offering included 22,500,000 of its ordinary shares at $0.30 per share, as well as 177,500,000 pre-funded warrants. These pre-funded warrants were offering at $0.2999 per share. Aegis Capital Corp. was the sole book-running manager for this offering.

In other recent news, the company announced its plans to adopt blockchain and bitcoin business. The CEO of Meten, Alan Peng said, “After an in-depth research and exploration in the crypto world, with the resources and talents of the Company, we are committed to building a professional team to explore the blockchain and cryptocurrency business while maintaining our core adult ELT business.” It will be interesting to see how Meten uses this technology moving forward. Considering all of this, is METX a contender for your penny stock watchlist?


Camber Energy Inc. (NYSE: CEI) 

Another penny stock that could be at value levels right now is Camber Energy Inc. If you’ve followed the stock market in the past few weeks, you likely recall the triple-digit percentage gain that CEI stock saw during that time. However, shares have since begun to correct. In the past five days, shares have dropped by around 45%. And while this may seem bad, from September 1st through the 29th, shares jumped by over 470%. So despite its recent downward moves, there is a lot of bullish sentiment surrounding CEI, just maybe not at its current price. 

For several days in the past few weeks, CEI was the most actively traded stock on U.S. exchanges. It’s also worth noting that CEI was and still is considered a meme stock. These are stocks that rise and fall due to how trending they are with traders online. Outside of this, Camber Energy is a mostly pure-play energy company with oil and natural gas assets in the U.S. In addition, the company provides energy solutions to both commercial and industrial clients around the country. 

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So, if we look past all of the speculative hype around CEI stock right now, we also see that there is a major energy shortage globally. This has driven a large portion of energy penny stocks up in the past few weeks. And, as the shortage is addressed, we could see demand for oil and gas continue to rise. So, with all of this in mind, do you think that CEI stock is worth adding to your list of penny stocks to watch or not?


Are These Penny Stocks Worth it or Not?

While there are hundreds of penny stocks to choose from in the stock market, not all will offer the same value point as others. And to understand which penny stocks could make you money, it’s best to do all of the research you can to gain a complete insight into a company. This means pouring through financial data, press releases and more. So, with all of this in mind, do you think that these penny stocks are worth it or not?

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