3 Hot Penny Stocks to Watch in November 2021
With another week of trading penny stocks coming to an end investors continue to work toward making money with penny stocks. But, it’s not simply enough to want it; rather, traders need to put in the work to make it happen. With penny stocks or blue chips, it all comes down to who has the most information.
And with the power of the internet, researching and understanding all you can about a stock is very possible. This means looking at balance sheets, press releases, and everything in between. Having information will allow you to get a full picture of a stock from the top down.
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In addition, investors should always consider what’s going on in the world and how that may impact the penny stocks or industries that they are focused on. All of this will give you the best chance of profiting with small caps. Considering that, let’s take a look at three penny stocks to add to your watchlist in November 2021.
3 Penny Stocks to Add to Your Watchlist in November
- Kintara Therapeutics Inc. (NASDAQ: KTRA)
- Yamana Gold Inc. (NYSE: AUY)
- Progenity Inc. (NASDAQ: PROG)
Kintara Therapeutics Inc. (NASDAQ: KTRA)
Kintara Therapeutics Inc. is a penny stock that has climbed by over 5% today and 20% in the past month. For those who are unfamiliar, Kintara is a company that creates anti-cancer products for medical patients. Kintara is involved in the development and commercialization of these products. Currently, it has VAL-083 which is for treating drug-resistance solid tumors. The company is also developing REM-001 which is a photodynamic therapy for treating cutaneous metastatic breast cancer.
In September, the company provided its financial results for the year ended June 30th, 2021. During this period, Kintara experienced a higher net loss than in 2020. This was due to the recognition of $16.1 million in non-cash expenses related to the acquisition of in-process R&D costs related to the acquisition of Adgero Biopharmaceuticals Holdings Inc. The loss is also due to an expanded rate of expenditures as Kintara began the GCAR study and REM-001 development.
“As we embark on a new fiscal year with a strengthened cash position from our recent financing, I’m extremely pleased with where the Company is positioned on the clinical and corporate development fronts. Moving forward, our diversified, late-stage pipeline has multiple, significant near-term milestones, highlighted by the GCAR GBM AGILE study.”
The President and CEO of Kintara, Saiid Zarrabian
In the past few trading sessions, volume for KTRA stock has been much higher than its market average. This is a great signifier of its recent popularity in the stock market. With this new info in mind, will KTRA be on your list of penny stocks to watch?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a mining penny stock that is also seeing sizable gains today. Up by around 2% at midday, AUY stock has climbed by around 4% this month. While this may not seem substantial, we often see gold stocks make small moves relative to their more volatile counterparts. For some context, Yamana has gold and silver production throughout many countries. It also has development stage properties, exploration properties, and land positions around the world. Yamana operates in the Americas in countries such as Canada, Brazil, Chile, and Argentina.
On October 28th, The company released its third-quarter results for 2021. Yamana stated that it is still on track to meet its 2021 target of 1,000,000 gold equivalent ounces. In addition, the company reported net earnings of $27 million, or $0.03 per basic and diluted share, for the quarter. Its mine operating earnings increased by 8% quarter over quarter to $154 million.
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The company stated, “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.”
Right now, gold stocks are very popular as investors look for less volatile stocks that could be more immune to inflation. And historically, mining stocks tend to be better stores of value in times of economic turmoil. With all of this in mind, will AUY be on your list of penny stocks to watch?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a biotech penny stock that has climbed by over 174% in the past month. This is a staggering gain and reflects both its work individually and its trending nature. Progenity is a company that creates molecular testing products for the United States market. It is involved in the commercialization and development of its products.
Recently the company caught new eyes from investors with its COVID-19 PCR testing services. This makes sense given the rise of Covid cases in the past six months or so. And while case numbers have declined dramatically in the last month, the demand for testing products remains high. In addition to this, Progenity’s main product is Innatal, which is a prenatal screening test for women in early pregnancy to look for chromosome abnormalities.
On the 3rd of November, Progenity announced the release date for its third quarter of 2021 financial results and corporate update. The results and the update will be released on Wednesday, November 10th, 2021. This will take place after the market closes, and a conference call will follow shortly after.
Financial results and corporate updates can often have a large impact on a penny stock. That is why this upcoming report is likely what investors are looking forward to. Just a few days before the release of these results, PROG stock is up in the market with higher than average volume. Keeping this in mind, will PROG stock be on your November watchlist?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 is all about understanding where to look. With so much going on in the stock market, it can be complicated to keep track of everything at once.
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However, because there are so many factors impacting penny stocks and blue chips simultaneously, there is a lot of momentum to take advantage of. With that in mind, which penny stocks are you watching right now?
