hot penny stocks to buy now

3 Penny Stocks For Your October Watchlist 

In the past few weeks, both penny stocks and blue chips have been on a winning streak. With several big-name companies posting better-than-expected financial results, investors seem confident in the future of the stock market. 

“We have used most of the superlatives we know to describe corporate America’s stunning performances over the past two earnings seasons. We expect solid earnings gains during the upcoming third-quarter earnings season, but upside surprises will be smaller. Unfortunately, we don’t need as many superlatives.” 

Jeff Buchbinder, an equity strategist for LPL Financial

Now, this sentiment is being felt around the stock market with many penny stocks pushing up in recent sessions. But, we do have to consider that there are still a large number of unknowns in the stock market. This includes the trajectory of Covid in the next few months, high levels of inflation, and a general air of uncertainty that is resulting in the high level of volatility that we are witnessing right now. 

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So, while no one thinks that this volatility will go anywhere anytime soon, there are plenty of ways to use it as an advantage. This includes forming your trading strategy to be in line with what is going on in the world. At the end of the day, making money with penny stocks is entirely possible in 2021. With that in mind, let’s take a look at three to add to your watchlist right now. 

3 Penny Stocks To Add to Your Watchlist in October 2021

  1. SOS Ltd. (NYSE: SOS
  2. Meten Holding Group Ltd. (NASDAQ: METX
  3. Kaival Brands Innovation Group Inc. (NASDAQ: KAVL

SOS Limited (NYSE: SOS)

SOS Limited is a tech penny stock that has climbed by over 14% in the past five days with a YTD gain of over 60%. This company offers data mining and analysis services to its customers. SOS also operates cloud emergency rescue service software used for medical rescue, auto rescue, financial rescue, and more. It also engages in cryptocurrency mining and blockchain-based insurance which has been a large focus for the company this year.

On September 10th, SOS announced its six months interim financial results. During this period, its net revenue was 17 times higher year over year. Its gross profit was up to 9.3% from 0.8% year over year as well at $17.2 million. Its total revenue for the six months ending June 30th, 2020 was $184.5 million.

In regards to its cryptocurrency operations, SOS stated, “We began generating revenue from our cryptocurrency mining operations since February 2021. We have mined an aggregate of 132.1 units of BTC and 1,853.1 units of ETH as of June 30, 2021, from our mining pools as compared to 42.2 units of BTC and 916.9 units of ETH as of March 31, 2021, which represents a 213% increase in BTC and 102% increase in ETH.” Considering its sizable gains over the past few days, it’s no wonder that investors are paying attention to SOS stock right now. Noting this, will SOS be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_SOS_Limited_(SOS_Stock_Chart)

Meten Holding Group Ltd. (NASDAQ: METX)

Meten Holding Group Ltd. is a Chinese educational stock that just went up nearly 1% in the market. This company offers English language training (ELT) services throughout China. Its services are for both adults and children, and are offered under the Meten, Likeshuo, and ABC brand names. As of December 31st, 2020, it had 105 self-operated learning centers and 13 franchised learning centers.

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On September 1st, the company announced the adoption of a new initiative to develop a blockchain and cryptocurrency business. Since the start of 2020, the company has been exploring the feasibility of using blockchain and cryptocurrency. The company has devised a blockchain technology strategic plan intended to introduce a Dogecoin-based reward mechanism and NFT for digital copyright in online education.

“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.”

The CEO of Meten, Alan Peng

On October 19th, its volume is over 15 million higher than its average. With this in mind, will METX be a penny stock to watch for you?

Penny_Stocks_to_Watch_Meten_Holding_Group_Ltd_METX_Stock_Chart

Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)

Kaival Brands Innovations Group Inc. is a penny stock that has climbed by a staggering 78% in the past five days. Despite being down over 50% in the YTD period, there is now a sizable amount of bullish sentiment surrounding KAVL stock. This is a company that offers electric nicotine delivery systems in the U.S. The company offers Bidi Stick, a disposable and tamper-resistant ENDS product in various flavors. It also offers the Bidi Pouch which is a tobacco-free nicotine formulation.

On September 14th, the company reported its results from the fiscal third quarter of 2021. During this period, Kaival reported revenues of $3.4 million for the three months ended July 31st, 2021. This was compared to $32.4 million in the same period the year before. In the nine month period, its revenue was at $59.9 million compared to $54.9 million the previous year.

The company stated, “We expect the impact of continued FDA scrutiny on the ENDS industry, as well as the commencement of distribution of the BIDI® Pouch, initially outside of the U.S., to have a positive impact on us in the longer term, but the dynamics that affected the third quarter, as well the delay in launching the BIDI® Pouch in the U.S., will cause our revenues for the full year ending October 31, 2021, to be below previously issued guidance.” Keeping this information in mind, will KAVL be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Kaival_Brands_Innovations_Group_Inc_KAVL_Stock

Are These Penny Stocks on Your Watchlist Right Now?

Finding the right penny stocks to buy is a completely individualized process. With so many to choose from in the stock market, it can be difficult to land on just a handful for your portfolio.

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However, because there are so many options, making a penny stocks watchlist can be a great way to stay ahead. With all of this in mind, are any of these penny stocks on your watchlist right now?


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