3 Penny Stocks to Add to Your October Watchlist Right Now
If you’re making a list of penny stocks to buy in October, there are a few things to keep in mind. For one, those investing in penny stocks need to have a thorough understanding of the current state of the stock market. This means pouring through the news, and considering how certain events may result in certain outcomes in the stock market.
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Right now, one of the largest impacts is Covid and the resulting high inflation that came from it. Because of this, there is a high amount of volatility in the stock market that can be taken advantage of. But, before making money with penny stocks, investors first need to understand their own trading strategy. This means considering whether you’re looking for high-risk stocks or those that may have low volatility. Regardless, there are penny stocks for you, but it will take some time to figure out which are which.
In addition to understanding what’s going on in the broader market, it’s worth considering what factors are impacting specific penny stocks or industries. This will help to gauge what type of price movement an investor can expect. So, with all of this in mind, let’s take a look at three small caps that could be worth adding to your watchlist.
3 Penny Stocks For Your October 2021 Watchlist
- Camber Energy Inc. (NYSE: CEI)
- Globalstar Inc. (NYSE: GSAT)
- HCW Biologics Inc. (NASDAQ: HCWB)
Camber Energy Inc. (NYSE: CEI)
If you’ve invested in penny stocks in the past two months, you’ve likely heard of Camber Energy. Again today, shares of CEI stock are up by over 20% at midday. From August 31st to September 30th, shares of CEI stock shot up by a staggering 660% before correcting by 50% or so to where it sits now. This is the main reason that so many investors are paying attention to Camber Energy. Aside from the announcement of a new carbon-capture system a few weeks ago, not much news is responsible for this gain.
Rather, CEI is the latest in the meme stock era to shoot up as a result of its trending nature. If you’re unfamiliar, a meme stock is a stock that sees momentum because of discussions online. This often results in extremely high volume, major gains, and subsequently, major losses. While meme stocks can be wildly profitable, they can also turn the other direction very quickly.
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So, investors need to be 100% sure of their strategy and their risk tolerance. It’s also worth noting that the energy sector is on fire right now. With a large shortage and high demand globally, many energy penny stocks have shot up in value in the past few weeks. And, this is another reason that CEI stock is seeing these gains right now. So, if you’re interested in a highly volatile penny stock that could be worth watching, CEI remains a top choice.
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a communications penny stock that has been quite popular in the past few weeks. Over the past six months, shares of GSAT stock have shot up by over 75% and YTD by over 360%. If you’re not familiar, this company offers mobile voice, data satellite communications, and more related to two-way voice and data products. Globalstar also offers SPOT consumer retail products which includes the SPOT GPS messenger and SPOT trace. These products for used for anti-theft, asset tracking, and much more.
GSAT stock recently went up a lot in the market due to rumors surrounding the use of its products by Apple. Many investors surmised that Apple would include satellite connectivity in its latest iPhone. And, Globalstar seemed to be an obvious choice to provide satellite products due to its size and market standing.
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However, after the new iPhone came out and did not include any satellite features, shares of GSAT tanked. But now, we are seeing a resurgence in the company’s stock price. In the last 6 months, GSAT stock has actually performed rather well in the market. With all of this, we see that both GSAT stock and penny stocks at large are highly volatile. But, this volatility is something that can be desirable for investors as it presents an opportunity to make money with penny stocks. Noting this info, will GSAT make your list of penny stocks to watch this month?
HCW Biologics Inc. (NASDAQ: HCWB)
Another big gainer of the day so far is HCWB stock pushing up by over 22% at midday. While no news came out today regarding the company, we can look at its placement in the stock market and its previous announcements. For starters, HCW Biologics is an immunotherapy company that works on unresolved inflammatory responses.
Using its TOBI discovery platform, the company can produce new medicines for immunotherapeutic purposes to treat inflammation. Two of the products it has created already include HCW9218 and HCW9302, which are both in studies for their IND potential. A few months ago, the company posted a scientific paper highlighting the potential of HCW9218 as a cancer therapeutic with several functions. It stated that it expects to submit an IND or investigational new drug application for HCW9218 for chemotherapy-refractory pancreatic cancer by the end of 2021.
“The HCW team is excited by the publication of its latest scientific paper in Molecular Therapy, which marks yet another important milestone for our team. This paper validates the clinical utilities of our lead molecule, HCW9218, created with the TOBI discovery platform. With this technology, we intend to develop additional next-generation cancer immunotherapeutics.”
The CEO of HCW Biologics, Hing Wong, Ph.D.
This is exciting news for HCW and shows that it is working hard to grow its pipeline of compounds. Considering this announcement, will HCWB stock make your penny stocks watchlist this week?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding the current state of the stock market. With so many to choose from, it can be difficult to land on ones that are right for your portfolio.
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However, with a commitment to research and understanding where the best penny stocks to buy are, it can be much easier than previously imagined. Considering all of this, which penny stocks are you watching right now?
