3 Penny Stocks to Add to Your Watchlist for Next Month
While we still have some time for trading penny stocks in October, November is only a few short weeks away. And, the best penny stocks traders will always be the ones that are ahead of the game. For this reason, it is always prudent to make watchlists ahead of time.
This will allow you to constantly shift your portfolio to where gains may be, and toward industries that could be more profitable than others. As we saw with the transition from September to October, a new month presents a clean slate for investors to take advantage of. And although it is mostly symbolic, that can sometimes be enough to spark a rally with either penny stocks or blue chips.
In addition to all of this, we have to consider the different factors that are impacting the stock market right now. This includes Covid, inflation, jobs reports, and more. Because there is such a wide range of impacts occurring, investors need to stay on top of it all.
Again, the ones with the best strategy and the most information on hand, will automatically be putting themselves ahead of the game. So, if we consider all of this, we see that investing in penny stocks in 2021 is not for the faint of heart. However, for those who are willing to put in the time and energy, it can be a profitable endeavor. With that in mind, let’s take a look at three penny stocks to check out next month.
3 Penny Stocks to Add to Your Watchlist Next Month
Cinedigm Corp. (NASDAQ: CIDM)
Cinedigm Corp. is a penny stock we have mentioned quite frequently over the past few months. And with over 280% in gains YTD, it’s no wonder that CIDM stock is in focus right now. If you’re not familiar, Cinedigm is an entertainment company that distributes movies, television, and other forms of content to various channels and platforms. Some of the channels it distributes content to include the NFL, NHL, Hallmark, and Televisa among others. It also distributes its content to streaming platforms such as Netflix, Amazon Prime, Apple, and Hulu among many more.
On October 12th, the company announced its horror NFT series launch. The company is releasing a series of horror-based NFT-based trading cards called Bloody Disgusting Blood Packs. This follows the recent acquisitions of Bloody Disgusting and Screambox by Cinedigm as it attempts to enter the horror market. The first 13 cards will use a distinctive horror and gore aesthetic and will be offered at auction.
Just 6 months ago, CIDM’s stock price was at $1.26 per share on average. In late October shares of CIDM stock are over $2.60, indicating sizable bullish sentiment. With this, we see that CIDM stock has more than doubled over the course of just six months. In the last 5 days, CIDM stock has carried a lot of momentum as well. With digital entertainment stocks in focus, Cinedigm could be worth considering. Noting this, will CIDM stock be on your October penny stocks watchlist?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a biotech penny stock that has climbed by well over 200% in the past month alone. This is a very sizable gain and one that shows just how bullish investors are on PROG stock. For some context, Progenity is a company that offers molecular testing products to the healthcare market. The company is involved in the development and commercialization of these products. One of its main products is Innatal which is for prenatal screening tests for women in early pregnancy to screen for chromosome abnormalities.
On October 13th, the company announced that several of its patents were granted by the U.S. Patent and Trademark Office. The company stated that this has strengthened its intellectual property position in ingestible therapeutics technologies. Four of its patents related to ingestible technologies for delivery of therapeutics via the gastrointestinal tract were granted by the USPTO.
“The addition of these recent patents further strengthens our intellectual property position and underscores our commitment to innovation in advancing therapeutic discovery, development, and delivery.”Interim CEO of Progenity, Eric d’Esparbes
In the past few trading days, volume for PROG has been over 300 million compared to its average of 34 million. As a result, we see just how popular PROG stock is right now. With this in mind, will PROG be on your list of penny stocks to watch?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock that has been more popular in the past week or so than in many months prior. This company processes and sells agricultural products in various countries around the world. Primarily, Farmmi offers Mu Er mushrooms, shiitake, and other edible fungi products. Farmmi Jicai is its online store that sells these products under the Forasen and Farmmi Liangpin brands. And, in a recent deal, the company landed a supply arrangement to export shiitake and dried black fungus products to Israel.
On October 18th, Farmmi’s subsidiary Zhejiang Farmmi Biotechnology Co. Ltd. was assessed and given the certificate for compliance with the requirements of BRC Global Standard Food Safety Issue 8: February 2019. These new certifications validate the company’s food safety system. The BRC Global Standard for Food Safety is one of the highest standards of the EU food safety system.
“After three days of comprehensive, careful examination, the audit team gave high marks for the Company’s safety management and control, production oversight, product traceability, product inspection capabilities and overall processes. Given the stringent review process, many international buyers now rely on these certifications instead of individual customer audits.”CEO and Chairwoman of Farmmi Ms. Yefang Zhang
Following this new information, FAMI stock went up in the market. Noting this, will FAMI be on your mid-October watchlist?
Which Penny Stocks Are on Your Buy List?
While it can be difficult to make a concrete list of penny stocks to buy, getting a general idea of the stocks you’re interested in can be a great way to get ahead. And in 2021, it’s all about using the information you have to gain a competitive edge against the market.
If we consider all of this wholly, we see that buying penny stocks right now is not easy. But, with the proper dedication, making money with penny stocks can be completely doable. With that in mind, which penny stocks are on your buy list?