3 Trending Penny Stocks to Watch That Are Popular Right Now
After a mostly bullish day of trading for penny stocks and blue chips, many investors are excited about what the future could hold. Of course, we do have to contend with high inflation, Covid, and the general unknown of the next few months.
But, there does seem to be a lot of bullish sentiment in the stock market right now. Although the factors mentioned above may seem scary at first, with penny stocks, they could present a benefit. There are a few reasons why this is the case.
Investing in Penny Stocks in Late 2021
For one, most investors that trade penny stocks, look for stocks with high volatility and equally high speculation. These factors combined likely result in frequent and large price moves (both up and down). And because so many investors swing trade penny stocks, large moves represent an opportunity to make money. Now, we also have to consider that there are several issues to think about.
As mentioned before, inflation, a potential bearish market turn, energy/labor shortages and more, are all on investors’ minds. And, many stocks are reaching very high levels, prompting investors to view it as either economic growth or a bubble.
So, it’s clear that investing in penny stocks in 2021 is not easy. However, because there is so much going on, there is also a lot to take advantage of. With all of this in mind, let’s take a look at three popular penny stocks to watch right now.
3 Popular Penny Stocks to Watch Right Now
Oragenics Inc. (NYSE: OGEN)
Oragenics Inc. is a biotech penny stock that has begun to witness a slight bullish turnaround in the past few trading sessions. This company offers various antibiotic products to treat infectious diseases. The United States-based company is developing Terra CoV-2 which is a vaccine product candidate. In addition to this, the company is developing OG716 for treating Clostridium difficile.
On October 18th, the National Institute of General Medical Sciences awarded Oragenics a $250,000 grant. This is for the company’s research, development, collaborative programs, and more. This grant offers the company funding to develop novel lantibiotics to treat ESKAPE pathogens.’
“We are pleased and honored to receive this non-dilutive funding which supports the Company’s efforts in research and development of lantibiotics and provides Oragenics with the opportunity to potentially expand on the identification of compounds that may be effective against life-threatening infections.”Executive Chairman of Oragenics, Frederick W. Telling
While shares of OGEN have not performed as well as some others this year, we are seeing a sizable amount of bullish sentiment with biotech penny stocks right now. And as a result, OGEN stock could be worth keeping an eye on. Keeping this in mind, will OGEN be on your penny stock watchlist?
Energous Corp. (NASDAQ: WATT)
Right now, energy penny stocks are on fire. This is due to a combination of low energy supply and an extremely high demand globally. While Energous is not necessarily a pure-play energy stock, it does have a sizable correlation with the industry. And considering some exciting news today, shares of WATT stock managed to climb by over 9%.
Today, the company announced that the U.S. Federal Communications Commission (FCC) granted it authorization for a wireless power transfer at any distance. This concerns its Active Energy harvesting transmitter, which can be used in a variety of applications.
“This FCC certification of our Active Energy Harvesting Transmitter Technology marks the latest recognition of our efforts to further the regulatory pathway for far-field wireless power networks.
Our WattUp active energy harvesting solution provides U.S. and European developers an approved wireless charging option when designing the power networks needed to cost-effectively and efficiently deploy IoT sensors, low-power CPUs, and other devices.”Cesar Johnston, the acting CEO of Energous
This is a big deal for the company and adds the U.S. alongside Europe in its list of markets. While it may take some time for these devices to hit the shelves, there is no doubt that the application is very broad. So as a tech penny stock with a correlation to energy, is WATT stock worth watching or not?
Gaotu Techedu Inc. (NYSE: GOTU)
GOTU is a penny stock that we’ve covered numerous times in the past few months. And with an over 12% gain on October 19th, shares of GOTU stock have climbed by over 55% in the past month alone. Despite being down by over 92% since the beginning of 2021, Gaotu has worked to make its way back.
And, the major decline is due to regulatory issues in China regarding for-profit education services. This sparked a bear run across all large Chinese tutoring companies, with Gaotu not being spared. While no announcement today is causing this gain, we can look at Gaotu’s Q2 2021 financial results which were reported only a few weeks ago. In the report, the company posted a 35% YoY increase in its net revenue alongside a 12% increase in its gross billings YoY. Despite a net loss of RMB 2,344 million, the company is working hard to get its head in the game.
“In the second quarter of 2021, our revenue has reached a record high to 2.232 billion RMB…We should always keep the goal of education in mind, always firmly believe that education is a noble profession. It’s undeniable that we have boundless faith in the bright future of the Chinese education industry.”CEO and Founder of Gaotu, Larry Xiangdong Chen
This is all a positive sign and shows that GOTU is working hard to grow right now. Whether this makes GOTU stock worth adding to your list of penny stocks or not is up to you.
Which Popular Penny Stocks Are You Watching in 2021?
Making a penny stocks watchlist right now can be a challenge considering the sheer number of factors that are impacting the stock market. However, with so many events occurring simultaneously, there is undoubtedly a lot of momentum to take advantage of.
With the right trading strategy on hand and a commitment to understanding how to trade penny stocks, making money with small caps in 2021 can be done. Considering this, which popular penny stocks are you watching in 2021?