Are These Tech Penny Stocks on Your November Watchlist
Tech penny stocks have remained some of the most popular stocks in the market over the past year and a half. And, there are plenty of good reasons for that. For one, the tech industry presents a lot of opportunities that other industries often cannot match.
This includes constant updates, new products, and consistent announcements. These can all result in prices changing very quickly, and therefore presenting opportunities to make money with penny stocks. But, as with all stocks, there is a sizable amount of risk that needs to be calculated.
Because tech moves so quickly, prices can change faster than in other industries. This means that investors should have a proper trading strategy on hand that can maximize profits. So, considering that the positive sentiment with tech stocks is likely not going anywhere anytime soon, let’s take a look at four penny stocks that investors are watching right now.
4 Tech Penny Stocks For Your November List
- Ideanomics Inc. (NASDAQ: IDEX)
- Asia Broadband Inc. (OTC: AABB)
- NXT-ID Inc. (NASDAQ: NXTD)
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is a penny stock that has climbed by over 12% in the past month. This brings its one-year gain to over 150% which is no small feat. For some context, Ideanomics is focused on commercial electric vehicle adoption, associated energy usage, financial services, and fintech product development. While this may seem broad, Ideanomics has attempted to diversify its business by any means possible.
On one hand, Commercial fleet operators can use its Ideanomics Mobility service to aid in the adoption of electric vehicles. This company also offers procurement, financing, charging, and energy management services to fleet operators of commercial electric vehicles. On the other hand, Ideanomics Capital is its subsidiary that invests in up-and-coming fintech products. As a result of all of this, IDEX has hands in several of the most popular and fastest-growing industries today.
The company formed a partnership with Kenworth on September 28th. The goal of this collaboration is to create 1-Megawatt wireless charging mats. These are charging platforms for Class 8 battery-electric regional trucks of the future. At first, these will be used at each end of a 400-mile delivery route between Portland and Seattle. And as time goes on, the goal is to adopt these products to ultimately change the way short and long-term transport is done.
In the past few trading days, shares of IDEX stock have continued to push up. This includes a 5% gain on November 1st. With a major focus on tech penny stocks right now, will IDEX make your list of penny stocks to watch?
Asia Broadband Inc. (OTC: AABB)
Asia Broadband Inc. is another tech penny stock and one that has seen tremendous gains in the past few trading days. Over the last five, shares of AABB stock have climbed by a staggering 125%. While it is on the OTC market and is also quite volatile, AABB stock is seeing heightened popularity right now. If you’re unfamiliar, this company offers precious and base metals in Asia and other countries such as Mexico. Asia Broadband is involved in the production, supply, and sale of these products. It also offers AABB Gold token, which is a gold-backed cryptocurrency offering.
On October 21st, the company signed a definitive joint venture agreement to buy 75% of the Tequila Gold Mine Project and 100% of the future gold production from the property. This property currently produces gold, silver, and base metals. Every day, the mine produces about 25 tons from its processing facility. The additional development will help grow its geological resources.
The company said, “AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company’s previous gold production success.”
As a result of this announcement and the bullishness around cryptocurrency, AABB stock has continued to push up in several recent trading sessions. With that in mind, does it deserve a spot on your list of penny stocks to watch right now?
NXT-ID Inc. (NASDAQ: NXTD)
Another big gainer of the day is NXTD stock, pushing up by over 17% at midday. This brings its five-day gain to over 64%. While no news is sparking today’s major uptick, we can look at some announcements that came out in the past few weeks to try and determine a reason. On October 18th, shares of NXTD stock began trading at a 1 for 10 reverse split. This was approved by the board only a few days prior.
“I would like to thank our shareholders for their support and approval of this important vote to ensure that our Company will be much better positioned to create future value for investors and customers.
By continuing to remain listed on NASDAQ, we will have the opportunity to place our Company on a solid path and will be able to get back to innovating and building products. We will continue to keep shareholders informed as we move forward.”Chia-Lin Simmons, CEO of NXT-ID
If you’re not familiar, NXT-ID creates a variety of health communication devices and IoT technology. These are used mostly in the emergency response industry where individuals can engage in two-way responses with emergency medical providers. During the pandemic, tools like these have become more in demand for obvious reasons. And as a result of this and its stock split, NXTD seeing is seeing a sizable amount of attention right now. With that in mind, do you think it’s worth adding to your penny stocks watchlist this month?
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
By EOD on November 1st, shares of CSCW had climbed by over 16%. This brings its five-day and one-month gains to over 32% and 45% respectively. While no big news came out for CSCW stock today, it is a member of the ‘short squeeze stock’ category. In addition, investors frequently discuss CSCW stock on social media such as Reddit and StockTwits. Now, it’s worth noting that we have covered CSCW stock numerous times in the past few months. And in that time, Color Star has made quite a few announcements.
The most recent came a few days ago when it announced the receipt of its continued listing standards letter from NASDAQ. At around $0.77 per share, CSCW stock is not currently in compliance with the listing standards from the exchange. However, it is working hard to change that. Only a few days before, the company engaged Coldwell Banker UAE to leverage its resources for it to move into the international realty market.
“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.”Douglas P. Menelly, the Director of Communications at Color Star
All of this is exciting news for the company and shows why so many investors are interested in it right now. Considering that, will CSCW stock be on your list in November?
Are Tech Penny Stocks Worth Buying in November?
The tech industry has remained a major part of the stock market over the past year or so. And in that time, we’ve seen many tech penny stocks rise in value. As a result of this, investors continue to look for the best ways to make money with the tech industry. So, considering all of this, do you think tech penny stocks are worth buying in November?