3 Penny Stocks to Watch in November 2021
When penny stocks drop substantially in value, it can mean both opportunity and a time to be wary. But, if we can understand the reason behind a sizable drop, there can be ways to make money with penny stocks that have seen major declines. The most important aspect to consider as mentioned previously is why.
For example, if a stock had just climbed by double or even triple-digit percentage points, its subsequent fall is likely only due to a natural correction. This could indicate value and could mean that there is an opportunity to be had. On the other hand, if a company got denied by the FDA for a product, it may be time to stay away until further notice.
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As you can see, there is a clear cause and effect that can be taken advantage of. The next thing to consider is what your trading strategy is. If you’re a short-term swing trader, there can be several options during intra-day or intra-week trading to capitalize on short-term gains. And when big losses occur, this can signify volatility, and therefore potential for swing traders. On the other hand, if you’re a long-term trader, it may be best to wait until a stock stabilizes before investing.
At the end of the day, it all comes down to your individual portfolio style and threshold for risk. If you know these aspects well, making money with penny stocks can be that much easier. Considering this, let’s take a look at three penny stocks that could be worth checking out at these value levels.
3 Penny Stocks That Could Be Bargains at Current Levels
- Ambev S.A. (NYSE: ABEV)
- My Size Inc. (NASDAQ: MYSZ)
- Oragenics Inc. (NYSE: OGEN)
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a beverage and food distributor that manufactures and sells carbonated soft drinks, beer, and other items. Among the various brands it sells are top names such as Gatorade, Lipton, Pepsi, and Seven Up. These products are available in the Americas, including Brazil, Central America, the Caribbean, and others. During the pandemic, the demand for alcohol sales jumped dramatically. And now that people are going out once again, we could see a similar rise in demand.
On October 7th, Ambev announced the establishment of its first carbon-neutral brewery in Brazil. Its brewery in Southern Brazil lowered CO2 emissions by 90% and offset the rest of the carbon outputs. It has so far invested $25 million in long-term operations. The business now wants to make four more of its breweries carbon neutral by the end of this year. This is a solid goal for the company and one that aligns with where the market is headed right now.
“Our path to carbon neutrality required 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 in our communities.”
Rodrigo Figueiredo, the Vice President of Sustainability and Procurement at Ambev
On October 27th, ABEV stock has higher than average volume in the market. This is a great indicator of its popularity during the trading day. With this in mind, will ABEV be on your list of penny stocks to watch?
My Size Inc. (NASDAQ: MYSZ)
My Size Inc. is a company that develops and commercializes e-commerce products such as fashion and apparel. The company’s MySizeID application lets consumers create an online profile of their measurements to find the perfect clothes. Its BoxSize application lets customers measure the size of their parcel with their phone and calculate shipping costs. It also offers SizeIT which lets its customers measure objects by moving their phones. Right now, there is a major emphasis on tech stocks. Despite a 21% drop in value today, on October 26th, shares of MYSZ stock climbed by over 110% during intraday trading.
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On October 26th, the company announced that it received a contract from Dockers in Turkey. When this news was reported the company’s shares went up in the market dramatically. Dockers is a company that sells a wide variety of clothing, and could benefit from products like the ones that My Size offers. Additionally, company has been working with Levi Strauss’s Turkish subsidiary for about a year.
“Our successful integration and results with Levi’s Turkey has led us to this additional opportunity. We believe our land and expand strategy of initially working with a part of a larger company and then being able to penetrate additional brands and geographies within that company will enable us to accelerate our revenue growth in a much quicker timeframe.”
The CEO of MySize, Ronen Luzon
Considering this new info, will MYSZ stock be on your watchlist moving forward?
Oragenics Inc. (NYSE: OGEN)
Another penny stock that has been showing signs of a bullish turnaround is OGEN stock. Despite a 5% or so drop today, shares of OGEN are up by more than 6% in the past five days. Oragenics is a healthcare company that develops novel antibiotics that attack infectious diseases and treatments for oral mucositis. It is currently developing an antibiotic product called OG716 which is actively in nonclinical testing. The company is also developing AG013 which is in Phase II for treating oral mucositis in cancer patients. Oragenics also attracted attention recently when it began developing a COVID-19 vaccine candidate.
Last month the company started a challenge study evaluating multiple formulations of its COVID-19 vaccine candidate. The study is to evaluate the immunogenicity and viral load reduction of the candidate in a hamster challenge study. This will provide data for various vaccine formulations. The company will use the original Coronavirus, as well as the Beta and Delta variants.
“We are delighted to have begun this important study on schedule and soon after receiving favorable results from our mouse immunogenicity study. We believe the results from this hamster challenge study will further affirm our development strategy for Terra CoV-2. We have particular interest for the intranasal delivery route.”
The Executive Chairman of Oragenics, Frederick W. Telling
As stated earlier, OGEN has had a decent bullish run in the past five days. And with news coming out on a regular basis, investors continue to pay attention to the biotech stock. Whether this makes OGEN stock worth adding to your list of not is up to you.
Can Penny Stocks Continue to Climb in November?
With November fast approaching, investors continue to search for the best penny stocks to buy. Although it can seem challenging with so much going on in the market, there are plenty of opportunities to make money with penny stocks right now.
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The best way to do so is to stay ahead and gather as much information as you can on the company’s you’re interested in. With that in mind, do you think that penny stocks can continue to climb in November?
