Are These 3 Penny Stocks Worth Watching Right Now
Right now, there is a lot of action in the stock market with both penny stocks and blue chips. The most popular stock in the past day or so has become DWAC stock. If you’re not familiar, Digital World Acquisition Corp. (NASDAQ: DWAC) is a Trump-backed SPAC that aims to bring the former Presidents’ new social media platform to life. In the past two days, shares of DWAC stock have climbed by a staggering 356% including an 83% gain in premarket today.
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While this may not be the greatest sign for market stability, it is encouraging for those looking for a bull run. And as a result, investors are heavily focused on penny stocks that could follow suit. While DWAC is a unicorn in that we don’t see gains like this regularly, it is still exciting to see that the market can support this. And because of that, we could see this bullishness extend into other areas of the stock market.
As always, make sure that you know your own investing style and whether you’re more inclined to invest in riskier stocks, or if you’re looking for more stable stocks to buy. This will help you to figure out which penny stocks could be worth buying and it will allow you to avoid making unnecessary losses. Considering all of this, let’s take a look at three penny stocks that could be worth watching right now.
3 Penny Stocks to Watch Right Now
- Borqs Technologies Inc. (NASDAQ: BRQS)
- ADMA Biologics Inc. (NASDAQ: ADMA)
- Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Borqs Technologies Inc. (NASDAQ: BRQS)
Borqs Technologies Inc. is a penny stock that has climbed by over 9% in the past five days. If you’re unfamiliar, Borqs is a tech company that focuses on software development services. Its services provide Android smart connected devices and cloud service solutions. In addition, it offers the BorqsWare software platform which utilizes BorqsWare Client software used in Android phones, tablets, watches, and various IoT devices. The BorqsWare Server software allows clients to develop their own mobile end-to-end services for their devices.
On October 19th, the company acquired 51% of Holu Hou Energy LLC. It signed definitive agreements on this date to acquire the ownership. The purchase consideration was made in cash and ordinary shares of Borqs, based on the performance of Holu Hou Energy in 2022 and 2023. Starting in the fourth quarter of 2012, HHE financial results will be consolidated into Borqs. The company has also reaffirmed the year 2022 HHE revenue forecast of $48 million. Right now, the energy industry is on fire following major shortages and higher-than-average demand. And as a result of the pandemic slowing in severity, more people are traveling and returning to work, indicating more demand for oil and gas.
On the day that this was announced, BRQS stock climbed up by over 14% in the market. The company’s average volume is over 4 million, but on October 21st, its volume was over 18.6 million. Over the last 5 days, BRQS has experienced a lot of positive momentum in the market. Moving forward, it will be interesting to see how the company performs in the coming months. For now, will you consider BRQS for your list of penny stocks to watch?
ADMA Biologics Inc. (NASDAQ: ADMA)
ADMA Biologics Inc. is a biotech penny stock that has pushed up by over 8% in the past five days, indicating sizable bullish sentiment. This company offers biologics to treat immune deficiencies and infectious diseases. ADMA is involved in the development, manufacturing, and marketing of these products. Its BIVIGAM product is for treating primary humoral immunodeficiency. It also offers Nabi-HB for treating acute exposure to blood containing Hepatitis B. In addition to this, it has a sizable pipeline with other compounds that could be worth looking into.
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On October 19th, the company announced that it soon will hold a new poster presentation. This poster presentation will take place at the 2021 International Society for Influenza and other Respiratory Virus Diseases – World Health Organization Conference. Included in the presentation will be the case documents for the use of ASCENIV as concomitant therapy in a patient presenting with severe respiratory viral disease and COVID-19 infection. This conference takes place between October 19th and 22nd. The conference is also likely behind the recent speculative gains for ADMA stock. Ahead of this news, will ADMA stock be on your penny stocks watchlist next week?
Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Powerbridge Technologies Co. Ltd. is a penny stock that has climbed by almost 20% in the past five days, indicating a sizable bullish turnaround. For some context, PBTS is a tech corporation that provides solutions and services as well as software applications. Its Powerbridge System Solutions are used for customers to streamline trade operations, trade logistics, and regulatory compliance. It also offers Powerbridge SaaS solutions such as Logistics Service Cloud and Inward Processed Manufacturing Cloud.
On October 8th, it announced that it has established cryptocurrency mining fleets for Bitcoin and Ethereum. The Hong Kong-based operation expects to deploy 2,600 high-performance mining rigs. This is comprised of 600 high-performance BTC mining machines and 2,000 high-performance ETH mining machines. These machines have hash rates of 60 PH/s and 1,000 GH/s respectively.
“Powercrypto is a major strategic move by the Company to highlight our global presence in the crypto-mining business. We will focus on enhancing our overall hash rate level in BTC and ETH mining by setting up mining fleets in North America and Asia.”
Chief Technology Officer of Powerbridge Sean Wang
With Bitcoin reaching an all-time high only a few days ago, many investors are bullish on anything relating to crypto. And as a result, PBTS is seeing heightened attention right now. With its sizable gains in the past few days and increased trading volume, it’s no wonder that investors are paying attention to PBTS stock right now. With this new info in mind, will it make your watchlist this month?
Which Penny Stocks Are You Watching in 2021?
Finding the best penny stocks to buy in 2021 can be challenging. But with so many options to choose from, it all comes down to the amount of time and effort you’re willing to put in.
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With the right research on hand, making money with penny stocks right now can be completely doable. But without research, it can be a minefield. Considering all of this, which penny stocks are you watching in 2021?
