4 Penny Stocks to Add to Your November Watchlist
With November only a few days away, penny stocks continue to show potential. And while a new month is nothing more than a page on a calendar, it can trigger a symbolic and emotional shift in the stock market.
With penny stocks, we can see things as small as a new month, affect how investors trade. It provides a clean slate and a chance to escape the volatility of the previous month. So, what do we have to look forward to in November 2021? Well, right now there are a few factors that all penny stocks investors should consider. First and foremost is inflation and the after-effects of the pandemic.
While Covid is still around, case numbers have slowed down substantially in the U.S., the side effects of the pandemic such as inflation, high gas prices, and others, are still causing markets to stir. But despite this, we have seen major bullish sentiment in the last few weeks. This comes as many large FAANG stocks recently reported better-than-expected financial results.
So, as you can see, there is a lot on the table right now and a lot for investors to consider about the future. And as a result, traders need to stay on their toes, looking at all the news and everything that could affect their watchlists. Considering this, let’s take a look at four penny stocks to watch in November 2021.
4 Penny Stocks to Watch in November 2021
- Greenpro Capital Corp. (NASDAQ: GRNQ)
- Meten Holding Group Ltd. (NASDAQ: METX)
- BIMI International Medicine Inc. (NASDAQ: BIMI)
- Digital Brands Group Inc. (NASDAQ: DBGI)
Greenpro Capital Corp. (NASDAQ: GRNQ)
Another penny stock that has been trending in the past few weeks is Greenpro Capital Corp. Up again today, shares of GRNQ stock have climbed by over 30% in the past five days and over 110% in the past month. This is a sizable gain and one that puts GRNQ in meme stock territory.
While it is trending, Greenpro also announced some exciting news recently. On Monday, October 25th, GRNQ stated that its incubated company, Angkasa-X, was admitted as an International Telecommunication Union member and filed for an application to obtain low earth orbits for its LEO satellites. With 28 million shares of the company, Greenpro plans to engage in an IPO in the coming months.
“We are proud that Angkasa-X is set to become a SpaceTech Unicorn with its vision aligned with the United Nations SDGs, to provide satellite connectivity services to serve the 670 million Southeast Asia mass populations.”The CEO of Greenpro Capital, Dr. Lee
This is major news for the company and shows that Greenpro is working hard to make its investment grow. In addition, this is likely one of the main reasons that shares of GRNQ stock have continued to climb in the past month. Considering this, do you think that GRNQ stock has the potential to explode in the next few weeks and beyond?
Meten Holding Group Ltd. (NASDAQ: METX)
Meten Holding Group Ltd. is an educational penny stock that has been trending heavily in the past few weeks. Again today during premarket, shares of METX stock are up by almost 20%. In the past month, shares of METX have climbed by over 38%, which is no small feat. If you’re unfamiliar, Meten is a company that offers English language training services in China. It provides these ELT services in two segments, adult and junior. These services are offered under the ABC, Likeshuo, and Meten brand names. As of December 31st, 2020, the company had 105 learning centers and 13 franchised learning centers.
Recently, Meten Holding Group announced the launch of a new project to build out its blockchain and cryptocurrency business. According to the company, the goal is to establish itself as a new standard among innovative businesses. The company states that it is thinking about buying mining equipment and NFT assets to put into service.
“Our New Business Initiative will be built upon the traction we are already seeing in our past research and preparation of blockchain and cryptocurrency business. After in-depth research and exploration in the crypto world, with the resources and talents of the Company, we are committed to building a professional team to explore the blockchain and cryptocurrency business while maintaining our core adult ELT business.”The CEO of Meten, Alan Peng
Considering that METX stock is highly volatile right now, it could be considered a trending penny stock. In addition, its high volume means that many investors are paying attention. Whether this makes it worth adding to your list of penny stocks to buy is up to you.
BIMI International Medical Inc. (NASDAQ: BIMI)
BIMI International Medical Inc. is a biotech company that sells medical devices and healthcare products in China. BIMI is involved in the retail and wholesale distribution of these products. It offers prescription drugs, nutritional supplements, over-the-counter drugs, and more. In addition, the company provides IT research and development services. All of its products are sold to customers through its directly owned stores.
Last month, the company signed a purchase agreement to acquire Chongqing Zhuoda Pharmaceutical Co. Ltd. This was a stock purchase agreement in which BIMI purchased all issued and outstanding equity interests of the company for $11,517,500. 2,200,000 shares of common stock of BIMI will be issued as partial consideration for the purchase.
“We are encouraged and excited about the planned acquisition of Zhuoda, as we believe this transaction will be transformative for our Company and our shareholders. Zhuoda has established long-term strategic cooperation with 14 local hospitals, which account for most of the grade A tertiary hospitals in East Chongqing.”The President and CEO of BIMI, Mr. Tiewei Song
Similar to the other stocks on this list, BIMI has seen heightened trading volume in the past few weeks. Over the last five days alone, shares of BIMI stock have jumped by over 60%. Keeping this in mind, will BIMI be on your penny stocks watchlist?
Digital Brands Group Inc. (NASDAQ:DBGI)
If Digital Brands Group is familiar to you, it’s likely because you read our article earlier this week: 5 Short Squeeze Penny Stocks To Watch For November 2021. According to data from Fintel the short float percentage on DBGI stock was hovering around 19%. By most accounts this is considered a higher “short float” percentage. As attention focused on the digital commerce company, shares began gains momentum.
Digital Brands specializes in selling luxury lifestyle brands both direct to consumer and wholesale. Earlier this month the company announced record eCommerce revenue growth year over year. Its Bailey’s 44, in particular, experienced a jump of 376% in eComm revenue. But heading into the second half of the week, there are other headlines stoking interest in the penny stock.
The company announced the launch of its DSTLD brand on Amazon Prime as well as an affiliate program across all of its brands. This was a significant development in Digital Brands’ eyes as it was the big step from on-boarding to official launch and on Amazon Prime no less. Laura Dowling , Chief Marketing Officer of Digital Brands Group explained, “We believe the extra time and work it took to qualify for Amazon Prime will result in much higher short and long-term value versus just selling as a third party on Amazon’s site.”
With this, DBGI stock has remained a focus in the stock market today.
Which Penny Stocks Are You Watching Next Month?
With so much momentum in the stock market right now, finding the best penny stocks to watch can be tricky. However, because there is so much movement, there is also a lot of opportunities to make money with penny stocks.
If we consider the current trends in the market, we see that November could have potential for investors of all types. With that in mind, which penny stocks are you watching next month?