3 Penny Stocks to Watch As October Comes to An End
With October moving by just as fast as it came, investors continue to search for the best penny stocks to buy. While September was a less-than-stellar month for the stock market, October has brought the Dow Jones to all-time highs alongside Bitcoin doing the same.
So, there is a lot of bullish momentum in the stock market right now, but it all comes down to knowing how to take advantage of it. While there are a lot of factors to keep track of in the stock market right now, we can look at each one individually to see how we can benefit.
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For example, with Covid, we’ve seen an emphasis on biotech stocks, reopening stocks, and more. This makes sense given the pandemic’s effect on these industries. But, it’s worth considering how they could continue to be affected in the near future.
Next, we have to look at inflation which is nearing high levels right now. This has caused investors to look at more stable stocks, such as those in the mining industry. At the end of the day, investing is all about thinking outside of the box and considering all factors at once. With that in mind, let’s take a look at three penny stocks to watch before next month.
3 Hot Penny Stocks to Watch Right Now
- Sesen Bio Inc. (NASDAQ: SESN)
- New Oriental Education & Technology Group Inc. (NYSE: EDU)
- Ambev S.A. (NYSE: ABEV)
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock that has climbed by over 55% in the past month, with 10% in gains occurring during pre-market today. This is a company that offers targeted fusion protein therapeutics to treat cancer patients. Sesen is involved in the design, engineering, development, and commercialization of these products. Its lead product is Vicinium which is in Phase 3 clinical trials for bladder cancer. It also develops this product in combination with Durvalumab which is in Phase 1 clinical trials for use in BCG-unresponsive NMIBC.
On October 20th, it was announced that the FDA has accepted Sesen’s request for a Type A meeting to discuss the chemistry, manufacturing, and controls issues raised in the complete response letter for Vicineum for BCG-unresponsive non-muscle invasive bladder cancer. This Type A meeting will take place on October 29th. The company is also preparing for another Type A meeting to discuss recommendations specific to additional data and analyses raised in the complete response letter.
It expects the Clinical Type A Meeting to take place in the fourth quarter of 2021. On October 20th, SESN stock’s volume was around 207 million compared to an average of about 21 million. On the same day, SESN’s stock price increased substantially. The high volume is a clear indicator of the popularity of SESN stock right now. With this in mind, will SESN be on your list of penny stocks to watch in October?
New Oriental Education & Technology Group Inc. (NYSE: EDU)
New Oriental Education & Technology Group Inc. is another penny stock that has been moving upward in recent trading sessions. Over the last month, shares of EDU stock have shot up by over 30% despite a more than 85% drop YTD. This company offers private education services in China. Its services include K-12 AST, test preparation, and more. Its test preparation services are offered to students taking entrance exams and language exams. It also offers after-school tutoring courses for high school and middle school students to help with their test scores. New Oriental offered its programs and services through 122 schools, 1547 learning centers, and 11 bookstores as well as online platforms as of May 31st, 2021.
On October 18th, the company announced that it will hold its annual general meeting on November 18th, 2021. The company’s general meeting will take place in Beijing at 5 pm local time. New Oriental stated that no new proposal will be submitted for shareholder approval at this annual general meeting. The meeting will act as an open forum for shareholders of record and beneficial owners of its shares to discuss company affairs with management.
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Holders of record of its common shares at the close of business on the record date are allowed to attend this annual general meeting. In other recent news, New oriental recently filed its annual report on Form 20-F. This filing included its audited financial statements for the fiscal year ended May 31st, 2021. In the last month, EDU stock has been climbing in price a lot. Sure, the company’s volume is lower than its average right now, but it is still showing solid performance. On October 20th, EDU stock increased by around 1.2% in the market. Noting all of this new info, is EDU stock a contender for your penny stocks watchlist in 2021?
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a penny stock that has begun to show a slight bullish turnaround following a few months of less than stellar trading. While shares of ABEV have gained around 13% in the past year, this is not much considering the rest of the stock market during that time. But, we do have to consider the effects of the pandemic on its business in the past and the present.
If you’re not familiar, this company distributes, produces, and sells food products, alcoholic beverages, non-alcoholic beverages, and more. Its alcohol offerings include brands such as Budweiser, Stella Artois, Corona, Modelo, and many more. As for its non-alcoholic products, Pepsi, Canada Dry, Squirt, Lipton, and Gatorade are just some of the names that Ambev offers. The company has been performing well in the market recently so let’s look at its latest updates.
Over the past 5 years, Ambev has invested $25 million in sustainable operations. Now the company has made its first large brewery and malting facility, carbon neutral. By the end of 2021, Ambev expects more breweries to follow. The brewery and malting site reduced 90% of its Co2 emissions and offset the remaining 10%. This has reduced 9700 tons of CO2 annually since 2018. Since 2003, the company has reduced over 63% of its emissions across its direct operations.
“Our path to carbon neutrality requires bringing our partners and suppliers along in the journey. We continue to advance our commitment to go beyond our own operations to make a positive and lasting impact on our communities”.
The VP of Sustainability and Procurement of Ambev, Rodrigo Figueiredo
This is great news for both the company and investors. And, it could help to put ABEV in a better position financially as energy is a high-cost expense that it could avoid. Considering all of this, will ABEV stock be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy in 2021, there are plenty of choices. But, to make money with penny stocks, it takes dedication and a thorough understanding of the current market conditions.
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This means doing the proper research and looking at each factor to determine how it could impact the penny stocks on your list and the market at large. Considering all of this, which penny stocks are you watching right now?
