3 Penny Stocks That Investors Are Watching Right Now
With November only a few days away, penny stocks continue to heat up. And while everyone has dreams of making it big with penny stocks, it’s not enough to simply hope for the best. Rather, investors need to put in the time and effort to ensure that they know everything about the penny stocks that they’re looking at. To help out, here are a few tips that all traders should utilize.
For one, research will always be your best friend. When you’re looking for a penny stock to buy, the best place to start is by learning as much as you can about that stock. This means pouring through financial data, looking at press releases, and checking out industry trends. Because penny stocks are so speculative, any event that occurs will likely have an effect on the stock you’re watching.
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This brings us to our next point: having a trading strategy. Often, traders will simply invest in the penny stocks that may be trending, or the ones that look the best off the bat. But, without a proper trading strategy on hand, it can be extremely difficult to make money with penny stocks. And, investors will often find themselves in a losing streak.
So, to avoid this, having a well thought out, and profitable trading strategy will always be your best bet. While this is not a complete list of how to trade penny stocks by any means, it should help to give you a great start. With that in mind, let’s take a look at three penny stocks that investors are watching right now.
3 Penny Stocks That Investors Are Watching Right Now
- Ideanomics Inc. (NASDAQ: IDEX)
- New Gold Inc. (NYSE: NGD)
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is a penny stock that’s climbed by over 5% in the past five days. This company’s focus is on the adoption of commercial electric vehicles by fleet operators and groundbreaking fintech solutions. Ideanomics helps companies to supply energy consumption needs related to electric vehicle adoption, and also provides assistance with financing, charging, and energy management. Its Ideanomics Capital division offers fintech services focusing on the transparency, profitability, and efficiency of the financial services industry.
The latest update from Ideanomics arrived on October 21st. The company stated that it will release its 2021 third-quarter financial results on Monday, November 15th, 2021. This is big news for investors as financial results can have a large effect on volume and popularity. The press release will be held at 4 PM Eastern time after the market closes. It will then hold a conference call with management 30 minutes later. During this call, senior management will give prepared remarks and have a Q&A session.
Recently, Ideanomics partnered with Say Technologies to help enhance shareholder communication. Say is a Robinhood Markets company that offers an innovative communication platform for investors. This is all exciting news and shows that Ideanomics is working hard to grow its business. Based on all of this info, will IDEX be on your list of penny stocks to watch?
New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining penny stock that we have mentioned several times in the past few months due to its consistent momentum. For some context, this company engages in the development and operation of gold mining properties. Additionally, the company mines for silver and copper deposits as well. Its main properties are the Rainy River mine, New Afton mine, and the Cerro San Pedro mine. The company’s assets are all located in the Americas, including Canada and Mexico.
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On October 13th, the company reported its third-quarter operational results for 2021. Its total production achieved during this period was 105,628 gold equivalent ounces. The company also produced 60,785 gold equivalent ounces from its Rainy River Mine by itself. At its New Afton mine, it produced 44,843 gold equivalent ounces during this period. The company also announced that it received the final C$50 million cash payment from Artemis Gold Inc. as a part of the Blackwater Project.
“We remain on track to deliver on our updated guidance, and we continue to make progress towards securing the Company’s future growth at both assets. Our liquidity position improved for a third consecutive quarter, and I continue to expect meaningful free cash flow generation from our operations in the near-term.”
Renaud Adams, the President, and CEO of New Gold
Since these financial results were released, NGD stock has gone up in the market. Keeping this in mind, will NGD make your penny stock watchlist right now?
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Color Star Technology Co. Ltd. is a penny stock that has climbed by almost 20% in the past month. If you’re not familiar, Color Star is a communications company that offers music education services. These educational services are offered in the United States and China. Its music education services are offered both online and offline. Color Star’s Color World online platform offers a curriculum of music, animation, film, painting, calligraphy, and more. This platform also offers celebrity concert videos, celebrity lectures, artist interactive communication, and more.
On October 27th, the company announced the receipt of a continued listing standards letter from Nasdaq. Nasdaq notified the company that it is not in compliance with the minimum bid price requirement because the closing bid of its shares was under $1 per share for 30 consecutive business days. When this happens, it requires prompt disclosure from a company that it received a deficiency notification. This has no immediate effect on CSCW stock, but could in the future. The company now has 180 calendar days to regain compliance with its minimum bid price requirement. Its shares must be at least $1 for a minimum of 10 and up to 20 consecutive business days.
“We are committed to regaining Nasdaq compliance. We care about our Nasdaq Capital Market listing and the value, prestige, and access to capital that it provides us and the platform it provides our shareholders. Color Star wishes to assure its investors and other constituencies that we plan to take all necessary and reasonable steps to maintain a listing on the Nasdaq stock exchange.”
The CEO of Color Star, Mr. Basil Wilson
Since this announcement came out, CSCW stock has gone up as investors could see potential in the future of the company. Keeping this in mind, will you add CSCW stock to your November watchlist?
Which Penny Stocks Are On Your November Watchlist?
Finding the best penny stocks to buy is all about understanding where the most movement is. because the stock market is always evolving, the best way to make money is to stay ahead of the trends.
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This means using the power of the internet to understand what factors are impacting penny stocks and the market at large. So, with all of this in mind, which penny stocks are on your November watchlist?
