3 Penny Stocks to Add to Your November Watchlist
If you’re making a penny stocks watchlist in November, there are a handful of factors to consider. While we like to think that penny stocks and blue chips trade off of their fundamentals, the majority of the time, speculation is the main driver of price action.
This means that anything from news to rumors and press releases can all have a major effect on the price of the penny stocks you’re watching. And as a result, the best way to try and make money with penny stocks, is to keep a firm grasp on what’s going on in the world. This includes understanding both factors that are impacting the stocks on your watchlist and the industries that they reside in.
In addition, understanding how certain worldly events will impact the market, will help you to predict where price action could go. In addition to all of this, having a trading strategy that aligns with what’s going on in the world will help you to take advantage of any price action that occurs. So, with all of this in mind, let’s take a look at three penny stocks to watch in November 2021.
3 Penny Stocks to Watch in November 2021
- Globalstar Inc. (NYSE: GSAT)
- Genius Brands International Inc. (NASDAQ: GNUS)
- Sesen Bio Inc. (NASDAQ: SESN)
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a communications company that provides mobile satellite services. This company offers two-way voice and data products for remote businesses, recreational use, safety usage, and more. It also offers fixed voice and data satellite communications services and equipment. These services and equipment items are offered to industrial, commercial, and residential sites. Furthermore, Globalstar offers IoT one-way transmission products for tracking cargo containers and rail cars.
GSAT stock received its first boost back in February when news broke that Qualcomm (NASDAQ: QCOM) would include Globalstar in its new modems for mobile devices. Then in September, Apple announced an event that most presumed would be for the new iPhone. Ahead of this announcement, many investors thought that Apple would include satellite connectivity with its devices, with Globalstar being an obvious provider choice. This resulted in a major bull run for GSAT stock, only to be corrected after the rumors turned out to not be true.
Despite this, GSAT stock has climbed by over 9% in the past five days and more than 385% in the past YTD period. In the last twelve months, shares of GSAT stock have climbed by more than 450%, which is no small feat. With satellite products such as the ones GSAT produces seeing heightened demand, Globalstar continues to look like an interesting choice. Only time will tell what the future of GSAT stock looks like. For now, will GSAT be on your list of penny stocks to watch in 2021?
Genius Brands International Inc. (NASDAQ: GNUS)
Genius Brands International Inc. is a penny stock that has climbed by around 11% in the past month or so. If you’re not familiar, Genius is an entertainment company that is focused on brand management and content. Genius Brands produces and licenses content targeted at toddlers to tweens. Its Rainbow Rangers and Llama Llama animated series have been very popular for the company. In addition, it licenses out its series to various broadcasters around the world, increasing its viewership anywhere it can.
On October 27th, the company announced that it will acquire WOW! Unlimited Media. The companies have entered a definitive agreement, where Genius will acquire all of the outstanding shares of WOW!. This acquisition will take place for about $53 million in cash and stock. Shareholders of WOW! Will get 0.271 of a Genius Brands common share for each WOW! Share.
“The acquisition of WOW! substantially accelerates the financial growth of Genius Brands, delivering on our promise to shareholders to execute meaningful and accretive acquisitions, as we seek to rapidly consolidate the marketplace and become the foremost producer, broadcaster, and consumer product licensor of high-quality children’s entertainment in the world.”Chairman and CEO of Genius Brands, Andy Heyward
In the past few trading sessions, GNUS has seen increased volume, presumably on the recent emphasis on digital entertainment. With this in mind will you add GNUS to your penny stock watchlist right now.
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock that has climbed by roughly 10% in the past five days and more than 70% in the past month alone. This company produces products for treating cancer patients. Sesen is involved in the design, engineering, development, and commercialization of targeted fusion protein therapeutics. Its Vicinium product is in Phase 3 clinical trials to treat BCG-unresponsive non-muscle invasive bladder cancer. In addition, it offers Vicinium in combination with Durvalumab which is in Phase 1 clinical trials to use for BCG-unresponsive NMIBC.
On November 1st, Sesen announced that it had a productive CMC Type A meeting with the U.S. Food and Drug Administration. During the meeting, Sesen and the FDA reviewed issues related to CMC to be discussed more in the review of the BLA for Vicineum when it is potentially resubmitted. Sesen believes it has a clear understanding of what is required for this resubmission of the BLA. The FDA confirmed that Vicineum manufactured using this proposed commercial process is comparable to Vicineum used in prior clinical trials.
“Our team looks forward to continued progress as we prepare for the Clinical Type A Meeting, and we remain committed to working diligently to fulfill our mission of saving and improving the lives of patients by bringing new treatment options to market.”The President and CEO of Sesen Bio, Dr. Thomas Cannell
Since this announcement was made, SESN stock has gone up in the market. Based on this new information, will you add SESN stock to your November penny stocks watchlist?
Which Penny Stocks Are You Watching Right Now?
While making a penny stocks watchlist can seem challenging, because of the sheer number of options out there, there are plenty of ways to take advantage.
- Best Reddit Penny Stocks to Buy Now? 4 to Watch in Mid-November
- 5 Penny Stocks to Buy for Under $1 on WeBull Right Now
But, investors should always understand both what’s going on in the market and what their own investing style is. Considering all of that, which penny stocks are you watching right now?