3 Penny Stocks You Need to Know About in November 2021
With a new month of trading penny stocks coming just as fast as October went, the time to find valuable small caps is now. But, it’s not as simple as throwing a dart and hoping to make money with penny stocks. Rather, the investors that make the most profit, are the ones that spend the most time on researching and developing a strategy. With penny stocks, we see that speculation is the main driver of all price movement.
While we like to think that fundamentals have a large role, price action is usually determined by both positive and negative events. This could be a balance sheet release, a new piece of information, news, or an industry-wide event. And for that reason, it’s important to pay attention to everything that is going on both with the penny stocks that are on your list, and the industries that they reside in. Now, in November 2021, there are a few things that investors are keeping a close eye on. This includes Covid, inflation, energy prices, and more.
While Covid cases have continued to decline, the lasting impacts are only just beginning to be felt. This means that investors should adjust their trading strategies accordingly. When it comes to trading penny stocks, it can often feel like a game of cat and mouse. With this in mind, we see that the importance of news will remain a constant moving forward. So, considering all of this, let’s take a look at three penny stocks that you need to know about in November.
3 Penny Stocks to Add to Your November Watchlist
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
- Advaxis Inc. (NASDAQ: ADXS)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Color Star Technology Co. Ltd. is a communications penny stock that has climbed by almost 20% in the past month. This company offers music education services both online and offline. These services are offered in the United States and China. Its curriculum includes music, sports, animation, painting, film, and much more. The curriculum is offered on its Color World platform that operates in China. The Color World platform also provides celebrity lectures, concert videos, and more.
On October 25th, the company announced a new update for its wholly-owned subsidiary, Color China. Color China entered an agreement with Coldwell Banker UAE to use its resources and strengths in international real estate. This will help Color Star secure venues for real estate-related cultural tourism. Coldwell Banker UAE is a real estate brokerage firm that has 116 years of experience in the industry. Color Star will entrust Coldwell Banker UAE with the selection of venues, filming locations, training centers, and much more.
“Real estate is a mainstay of the global economy, and even for an entertainment technology company, some businesses can be integrated. In the meantime, as Color Star evolves to become a composite company, cooperation with powerful international real estate firms can greatly improve the future development and trend of our overall business.”Director of Communications at Color Star, Douglas P. Menelly
On October 27th, CSCW stock went up by nearly 7% in the market. Its volume is also over 19.6 million compared to an average of about 3.5 million. Noting this info, will CSCW stock make your penny stocks watchlist in November?
Advaxis Inc. (NASDAQ: ADXS)
Advaxis Inc. is a biotech company that focuses on creating proprietary Listeria monocytogenes antigen delivery products. The company is involved in the discovery, development, and commercialization of these products. Currently, it is developing ADXS-PSA which is in Phase 2 clinical trials for treating prostate cancer. It also has ADXS-503 which is in Phase 1 / 2 clinical trials to treat non-small cell lung cancer.
Last month, Advaxis released its third-quarter financial results and business updates for 2021. The company announced that it has started a Phase 1 clinical trial of ADXS-504 to treat early prostate cancer during this period. It also entered a definitive merger agreement with Biosight Ltd. during this period. This merger is to advance its pipeline of clinical-stage oncology programs for solid tumors and hematological malignancies.
“We expect that the coming months will provide data readouts from our expanded off-the-shelf neoantigen program in both NSCLC and prostate cancer which will build upon our strong foundation of data show consistent clinical benefit, the potential to enhance and/or restore responsiveness to checkpoint inhibitors and on-mechanism innate and adaptive immune system stimulation.”
President and CEO of Advaxis, Kenneth A. Berlin
On October 27th, ADXS stock experienced higher than normal volumes. This is a great indicator of its popularity in the market. Based on this new update, will ADXS be on your list of penny stocks to watch?
Ebang International Holdings Inc. (NASDAQ: EBON)
Ebang International Holdings Inc. is a company that offers integrated circuit chips and manufactures Bitcoin mining machines. The company operates internationally, but primarily in the United States, China, and Hong Kong. In addition, Ebang offers a program with mining machine hosting services to let customers operate the machines remotely. And, it offers fiber optical telecommunication products such as voice fiber optical multiplexers.
On October 1st, Ebang released its unaudited financial results for the first six months of the fiscal year 2021. The company announced total computing power sold of 0.8 million Thash/s. This was a year-over-year increase of 220% from 0.25 in 2020. Its total net revenues increased by 65.69% year over year as well, from $11.04 million to $18.30 million. As a result, its net loss significantly fell year over year. These financials are very positive, and could be one of the reasons that EBON stock is seeing bullish attention right now.
“Up to now, the Company has completed the establishment of the business team and started the preparatory work for the construction of North American and European mining farms in June 2021. The self-mining business can well offset the negative impact of the plummeting Bitcoin price on the sales of mining machines, thereby further ensuring the Company’s long-term stable and healthy development.”Chairman and CEO of Ebang, Mr. Dong Hu
EBON stock has a higher than average volume on October 27th. Based on this information, will EBON make your penny stock watchlist as we get closer to November?
Which Penny Stocks Are You Watching Next Month?
If you’re making a penny stocks watchlist for November, you’re already ahead of the game. If not, it’s never too late. The best way to ensure success in your portfolio is to have a complete and thorough understanding of what the market is doing and how it could move in the future.
This is done by studying recent events, understanding where industries are headed, and staying up to date on the latest. Considering all of this, which penny stocks are you watching next month?