Are These Penny Stocks on Your November Watchlist?
If you’re making a penny stocks watchlist for this week, there’s plenty of options to choose from. Over the last week, we’ve seen a sizable amount of bullish interest with both penny stocks and blue chips. And as a result, investors seem excited about the future of the stock market. In the past year or so, the pandemic has been the main driver of movement with stocks. However, in the past few months, stocks have begun to rebound as case numbers decline.
Although inflation is on the rise, many investors seem confident that there could be renewed bullish sentiment as we approach the next few months. And right now, this appears to be in industries such as EV penny stocks, mining stocks, lithium stocks and more. But, investors have to consider what’s going on in the world before making any investments into penny stocks. This should also align with your investing strategy and tolerance for risk.
One thing to keep in mind is that penny stocks are highly volatile and risky. This means that investors should always stay on top of the news to keep up to date with what’s going on. At the end of the day there are a lot of opportunities to make money with penny stocks. With all of that in mind, let’s take a look at three penny stocks that could be worth watching this week.
3 Penny Stocks to Watch In The First Week of November
- New Oriental Education & Technology Group Inc. (NYSE: EDU)
- Medigus Ltd. (NASDAQ: MDGS)
- BEST Inc. (NYSE: BEST)
New Oriental Education & Technology Group Inc. (NYSE: EDU)
New Oriental Education & Technology Group Inc. is a Chinese education stock that has climbed by over 10% in the past month. If you’re not familiar, New Oriental is a company that offers private educational services such as K-12 AST, test preparation, and online education. These courses are provided to those taking language and entrance exams used by the U.S. and Chinese education institutions. Currently, it has education programs in 122 schools, 1547 learning centers, and 11 book stores.
New Oriental reported on September 26th that it had filed its annual report on Form 20-F with the Securities and Exchange Commission for the fiscal year ended May 31, 2021. According to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, it also issued its annual report for Hong Kong purposes.
Despite legislative changes in China affecting its business, New Oriental’s overall net revenue climbed by 29% year over year to $1.19 billion in Q3 2021. This is exciting for the company, especially considering its decline earlier in the year. Moving forward it will be interesting to see what the company reports for the rest of 2021. With that in mind, will EDU be on your penny stock watchlist based on this information?
Medigus Ltd. (NASDAQ: MDGS)
Medigus Ltd. is a penny stock that has seen some bullish sentiment in the last few trading days. This is a biotech company working on the creation of minimally invasive endo-surgical tools. These tools have direct visualization technology and are offered internationally. Medigus is involved in the development, production, and marketing of these products. In addition to this, the company develops biological gels to protect patients from biological threats. And if all that wasn’t enough, it also creates software for event planning, ticketing solutions, and online stores. As you can see, Medigus has quite a broad market and product offering.
On October 28th, the company announced that it has formed a new joint venture to trade NFT assets. Medigus announced that it will invest up to $5 million in this venture. This non-binding memorandum of understanding was signed with Safee, which is a tech company that is focused on NFTs. The parties will have a joint venture to trade and monetize NFTs as well as various other digital assets.
Safee’s goal is to make the reach of NFTs to mass-market buyers and creators, digital artists, musicians, and photographers among much more. This joint venture is going to help the company accomplish that goal. The deal also offers Safee the ability to purchase Medigus stock. Over a period of 3 years, Safee may buy 200,000 shares of Medigus at $10 per share. It will be interesting to see how these companies are impacted by this new deal. For now, will MDGS make it to your penny stock watchlist before November?
BEST Inc. (NYSE: BEST)
BEST Inc. is an industrial company that works as a smart supply chain service provider. The company operates the BEST Cloud system that allows customers to operate their businesses with SaaS-based applications. This technology is used for network and route optimization, sorting line automation, smart warehouses, store management, and more. It also has express delivery services and integrated cross-border supply chain services to and from China.
On August 17th, the company reported its unaudited second-quarter financial results. It announced that its revenue went down 5% year over year, and it experienced a gross loss instead of gross profit. Its net loss was RMB 467.5 million compared to a net profit of RMB42.7 million last year.
“In the second quarter we continued to press forward with our strategic refocusing plan and build on the encouraging signs we are seeing in network stability, service quality, and cost reduction, while adapting to the competitive industry landscape. In particular, our Express continued to make progress in unit cost reduction and witnessed significant network improvement with enhanced service quality.”The Founder, Chairman, and CEO of BEST, Johnny Chou
In the past few trading days, volume for BEST stock has been much higher than its average, indicating high popularity in the market. Keeping this information in mind, will BEST be on your watchlist?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. But, with such a wide array of options, the opportunities are almost unlimited.
As always, the best way to find penny stocks that could be worth it is to do as much research as you can. This will help you to stay ahead of the game. Considering all of this, which penny stocks are you watching right now?