3 Hot Penny Stocks to Watch in Late-October 2021
With October already halfway done, penny stocks have had quite the month. When September came to an end, investors were excited about a new, and hopefully bullish month for trading penny stocks. And so far, October has been quite good to the stock market. There are a few key reasons for this that we have to consider.
For one, Covid cases have been on a major decline throughout most of the country over the past few weeks. And while there is a lot of uncertainty right now as there has been in the past year and a half, investors seem to be showing confidence in the future.
In addition to this, we’re watching cryptocurrency continue to rise substantially. This includes Bitcoin topping $62,000 only a few days ago, before stabilizing around the $60,000 mark. While this may not seem related to penny stocks, it does show that there is bullishness to be taken advantage of.
So, while there is a lot going on to consider, investors should continue to use their own investing strategies to understand how to make money with penny stocks right now. Considering this, let’s take a look at three penny stocks that you need to know about right now.
3 Penny Stocks to Add to Your October Watchlist
Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a biotech penny stock that has begun to show a slight bullish turnaround following months of losses. This company develops anti-infectives for multi-drug-resistant pathogens. Currently, Iterum is developing sulopenem which is an anti-infective compound with oral and IV formulations. Sulopenem is in Phase 3 clinical trials to treat urinary tract infections and intra-abdominal infections.
The business submitted an update from the FDA Type A meeting about oral sulopenem on September 28th. The purpose of this conference was to explore the processes that would be required to potentially resubmit its New Drug Application for oral sulopenem to treat uncomplicated UTIs. This is in response to the FDA’s request for further data to support the drug’s approval.
The CEO of Iterum, Corey Fishman stated, “We had a successful meeting with the FDA and have established various potential paths forward to address the request in the CRL for additional data in support of our NDA.” This is the latest update that has come from Iterum Therapeutics.
In the last 5 days, ITRM stock has experienced a lot of positive momentum in the market. This follows major losses that came as the FDA rejected a proposal from the company regarding Sulopenem. So now, as the company works to resubmit this compound for approval, we could see more interest in ITRM. Considering this, will ITRM be on your list of penny stocks to watch as we continue through October?
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is one of the most popular penny stocks that investors have been watching in the past few months. Following a multi-triple-digit percentage gain from early September to early October, shares have since calmed down slightly. If you’re not familiar, Camber is an oil and gas corporation that is based in the United States. Camber acquires, develops, and sells crude oil, natural gas, and natural gas liquids. These operations take place in the Cline shale and upper Wolfberry shale in Glasscock County, Texas. As of March 31st, 2020, Camber had total estimated proved reserves of 133,442 million barrels of oil equivalent.
Back in August, the company secured an exclusive IP license for a patented carbon capture system. The ESG Clean Energy System generates clean electricity from internal combustion engines and uses waste heat to capture most if not all of the CO2 without losing efficiency. This license agreement was by its subsidiary Viking Energy Group Inc. with ESG Clean Energy LLC.
“In my view, this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices.”President and CEO of Camber, James Doris
On October 15th, CEI stock’s volume was around 199 million compared to an average of 177 million. This illustrates just how popular CEI stock is right now. With this new info in mind, will CEI be on your penny stock watchlist this week?
Nxt-ID Inc. (NASDAQ: NXTD)
Nxt-ID Inc. is an industrial company that is experiencing large momentum in the market right now. In the past five days, shares of NXTD stock have shot up by an incredible 1,029%, bringing it from around $0.30 to almost $4. This company offers tech products and services for healthcare purposes. It creates products for security and privacy, identity verification, access control, and much more. The company’s subsidiary LogicMark LLC creates non-monitored and monitored personal emergency response systems sold through distributors.
On October 15th, the company announced that its shareholders have approved two reverse stock split proposals. These proposals have to do with NXT-ID’s common stock and Series C preferred stock at its special shareholder’s meeting that took place on the same date. The board of directors approved a 1-for-10 reverse split for its common stock and a 1-for-10 reverse split for its Series C preferred stock.
The common stock begins trading on this new split-adjusted basis at the open of the market on October 18th. On the trading day before this, NXTD stock is up almost 17% in the market. But in the premarket on October 18th, NXTD stock is up substantially in the market because of this stock split. For the same reason, NXTD stock’s volume is astronomically higher than its average in the market. Keeping all of this in mind, will NXTD be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy all comes down to understanding where to look. With so many to choose from, it can seem like a daunting task to just pick a handful for your watchlist. However, because there are hundreds of penny stocks out there, there is plenty of opportunity to be had. Considering this, which penny stocks are you watching right now?