Are These Trending Penny Stocks on Your Watchlist?
Over the past few months, we’ve covered trending penny stocks many times. And, while there are plenty of non-trending penny stocks that are worth watching, most investors tend to lean toward those that are. If we include the idea of a ‘meme stock’ we can begin to find penny stocks that are the most trending in the market. And as a result, they have the potential to climb (or fall) substantially in a given trading day. So, if you’re looking for trending penny stocks to buy, there are quite a few places to look at.
[Read More] 5 Penny Stocks To Buy According To Analysts & Price Targets Up To 175%
Recently, the focus has been on Reddit and StockTwits, as these offer discussion boards for investors to come together. But outside of this, we see that almost any social media platform has the potential to create a trending stock. Considering all of this we also have to understand our own unique tolerances for risk. This comes into play with penny stocks more so than blue chips as they tend to be highly volatile.
So, if you’re risk-averse, it is usually worth finding more stable stocks. And if you’re more inclined to invest in risky stocks, there are plenty of penny stocks that fit the bill. Lastly, having a thought-out and consistent trading strategy will always be a major benefit. This will help you to increase the chances of consistent profitability in your portfolio. With all of this in mind, let’s take a look at three trending penny stocks to watch in Mid-November.
3 Trending Meme Penny Stocks to Watch Right Now
- Ideanomics Inc. (NASDAQ: IDEX)
- New Oriental Education & Technology Group Inc. (NYSE: EDU)
- Ambev S.A. (NYSE: ABEV)
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is a penny stock that we have covered countless times over the past few months. And in the past twelve, shares of IDEX stock have shot up by over 145%, which is no small feat. If you’re not familiar with Ideanomics, its focus is on the adoption of commercial electric vehicles and on budding financial tech solutions.
On one hand, the company’s Mobility division facilitates the adoption of electric vehicles by commercial fleet operators. With this, it offers everything from vehicle procurement to charging solutions and more. On the other hand, it has its Ideanomics Capital division which invests in new and groundbreaking fintech solutions. Both of these make up a very broad organization that has hands in several interesting industries.
[Read More] Top Penny Stocks to Buy From TikTok? 3 That Investors Are Watching
In the past few weeks, we haven’t heard any major updates from the company that would result in its recent upticks. So why is IDEX stock going up in the market? One possible explanation has to do with an announcement made on October 21st. This is when the company posted the release date of its third-quarter financial results for 2021. A press release will be issued on Monday, November 15, 2021, detailing these results. The release will be put out at 4 p.m. eastern standard time. Shortly after, Ideanomics will hold a conference call to discuss the results. Keeping this upcoming event in mind, will IDEX be on your list of penny stocks to watch?
New Oriental Education & Technology Group Inc. (NYSE: EDU)
New Oriental Education & Technology Group Inc. is a penny stock that has been trending for a few weeks at this point. And despite its high volatility, investors are very interested in the potential that EDU stock could have. If you’re not familiar, New Oriental offers private educational services in China. It provides test preparation services to students preparing for entrance examinations and language exams. The company offers its services in 104 schools, 1361 learning centers, and 12 bookstores.
Back in August, New Oriental offered an update on regulatory developments in China regarding for-profit tutoring. This is based on the “Beijing Municipality’s Measures to Further Reduce the Burden of Homework and After-School Tutoring on Students in Compulsory Education in Beijing” issued jointly by the Beijing Municipal Government and the Beijing Municipal Committee of the Communist Party of China.
New Oriental is no longer able to provide its services on national holidays, weekends, break periods, and other occasions. The corporation must also adhere to government price requirements for its services. And lastly, there will be tighter controls over AST advertising in regards to its services. This had a large effect on the market when the news came out, and to this day, companies like EDU are working to build businesses around these regulations. So, considering this alongside the trending status of EDU stock, is it worth adding to your penny stocks watchlist?
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a penny stock that has climbed by almost 10% in the past month. For those unfamiliar, Ambev is a distributor of beer, carbonated soft drinks, and food products. The company is involved in the manufacturing, distribution, and sale of these items. It sells products under the labels Pepsi, Canada Dry, Budweiser, Extra, Modelo Especial, and many more. As you can see, Ambev is responsible for the distribution of many of the most popular brand names we know today. And as a result, it is a leader in the beverage industry.
Following the release of its new financial results, Ambev has seen heightened performance in the past trading sessions. On Thursday, October 28th, the company announced a quarterly net profit of $660.89 million, up 57.4 percent year over year. This is due to the reopening of bars and restaurants, which may increase demand for the company’s products around the world.
With a 7.7% gain year over year, the company also recorded its greatest third-quarter volumes ever. In addition to this, its net revenue increased by 20.8 percent year over year. While we like to think that stocks are traded purely off of fundamentals, it is often a mixture fundamentals and speculation. And with this solid quarterly report, the bullish sentiment around ABEV stock right now makes sense. Keeping this in mind, will ABEV be on your penny stock watchlist moving forward?
Are Penny Stocks Worth Buying or Not?
Finding the best penny stocks to buy can be tricky in the current state of the stock market. But, with so many stocks to choose from, the potential to make money with penny stocks in 2021 is palpable.
[Read More] Best Penny Stocks To Buy Now? 4 To Watch After Bitcoin Price Surges
As always, investors should be sure to spend the time doing all the research they can. This will help to ensure that there are no surprises when it comes to price action. So, considering all of this, do you think that penny stocks are worth buying or not?
