Why These Penny Stocks Are on Retail Traders Watchlists In November
In the past year and a half, retail trades have become a staple with trading penny stocks. While not all retail traders trade penny stocks, many choose to due to the low capital requirements and high potential for returns.
And, the influx of retail traders on platforms like WeBull, has helped to usher in a new era of high volatility that can help those with a proper strategy to make money with penny stocks. But, with this high volatility also comes the potential for seeing losses. And as with anything, it’s best to do all the research you can, to ensure that you have the best chance at profitability.
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If you’ve traded penny stocks in the past year or so, you’ve likely seen the result of retail traders and social media platforms like Reddit and StockTwits. These platforms have helped traders to come together to find the best penny stocks to buy. And because of this, we’ve seen some stocks shoot up in the double or even triple-digit percentage points in only a matter of days. While this is not an everyday occurrence, it does happen often now.
Considering that there is a lot to keep track of when it comes to trading penny stocks in November, investors need to stay on their toes. But, with so much positive sentiment in the market, traders remain hopeful for the future. With all of this in mind, let’s take a look at three penny stocks that retail traders are watching right now.
3 Penny Stocks to Watch in November 2021
- SOS Limited (NYSE: SOS)
- Yamana Gold Inc. (NYSE: AUY)
- Progenity Inc. (NYSE: PROG)
SOS Limited (NYSE: SOS)
SOS Limited is a penny stock that has climbed by over 8% in the past month. If you’re not familiar, SOS Limited is a tech company that offers data mining and analysis services to corporations and individuals. The China-based company provides marketing, data, technology, and solutions for various sectors. These services are provided to insurance companies, emergency rescue services, and insurance product and health care info portals.
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On October 18th, the company announced the lease of a new office in Manhattan. This new office will be SOS’s North American Headquarters. This is a part of the company’s plan to expand its global footprint. The facility is expected to accommodate its business development, management, and blockchain R&D activities in North America. While SOS has a solid footprint in China, it is working hard to push into the North American market.
“We are committed to further expanding our blockchain technology business in countries outside of mainland China. As we move forward into our next stage of growth, this office in Manhattan will serve as headquarters for our North America Operations for our blockchain R&D business.”
CEO of SOS, Mr. Yandai Wang
Based on this new development and its recent bullish momentum, will SOS stock be on your watchlist right now?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that we have discussed numerous times in the past few months. While its gains have not been stellar recently, the company has continued to make headlines in the past year. The main reason for this comes as investors tend to turn to gold in times of economic turmoil. And as a producer of gold, Yamana presents an interesting opportunity for traders to capitalize on.
The precious metals producer engages in both gold and silver production at its development stage properties, exploration properties, and other land holdings. The majority of its mining locations are located in the Americas, and specifically in Chile and Canada.
On October 28th, the company reported its third-quarter results for 2021. In these results, it announced that it is still well-positioned to reach its guidance for 2021 of 1,000,000 gold equivalent ounces. During the quarter, Yamana achieved net earnings of $27 million of $0.03 per share basic and diluted. In addition, its mine operating earnings grew quarter over quarter by 8% to $154 million.
Currently, Yamana is also working towards advancing its Wasamac Project. The company recently reported the results of multiple studies on the project, to corroborate a diligence review conducted by the company when it purchased the project.
The company said, “Yamana expects to receive all approvals, permits, and certificates of authorization required for project construction by the third quarter of 2024. Construction time to processing plant commissioning is estimated at approximately two-and-a-half years, with the underground crusher and conveyor system scheduled for commissioning six months later.” With a lot to look forward to, will AUY be on your penny stock watchlist?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a biotech corporation that offers molecular testing products. It is also a trending penny stock that has continued to see high attention in the past few months. In the last month alone, shares of PROG stock have shot up by over 147% to its current price of around $3.47 per share.
For some added context, this company is involved in the commercialization and development of a range of diagnostic products. One of its offerings is Innatal which is a screening test for women early in pregnancy to check for chromosome abnormalities and diseases. Recently, Progenity also started offering COVID-19 PCR testing services which have brought new sets of eyes on to the company.
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On October 13th, Progenity announced that several of its patents were granted by the United States Patent and Trademark Office. Four of Progenity’s patents related to ingestible technologies for delivery of therapeutics via the gastrointestinal tract were approved. The patent is directed to methods and devices for delivery of a therapeutic agent into gastrointestinal tissue for systemic uptake.
“We believe we hold one of the most robust ingestible device patent portfolios. The addition of these recent patents further strengthens our intellectual property position and underscores our commitment to innovation in advancing therapeutic discovery, development, and delivery.”
Interim CEO of Progenity, Eric d’Esparbes
In the last month, PROG stock has grown significantly in the market as stated earlier. And with higher than average volume, it’s no wonder that retail traders are watching PROG stock. Keeping this in mind, will PROG stock make your list of penny stocks to watch in November 2021?
Which Penny Stocks Are You Buying Right Now?
While making a list of penny stocks to buy can be challenging with so many options out there, the opportunities are quite broad. And with the right research and a dedicated trading strategy, making money with penny stocks can be entirely possible. Considering all of this, which penny stocks are you buying right now?
