Are These 3 Penny Stocks on Your Watchlist Right Now?
If you’re making a penny stocks watchlist in November, there are plenty of options to choose from. But, in order to pick the best penny stocks to buy, investors need to have a thorough understanding of what’s going on in the stock market. Right now, we are seeing the after effects of Covid continue to cause uncertainty with penny stocks. While Covid is still around, the other pressing issues such as inflation, jobs reports, and economic recovery, are resulting in high volatility in the stock market.
While this is not necessarily a bad thing, it is something that all investors should keep in mind. Some traders tend to lean toward more volatile stocks as a way to make quick gains in the stock market. While this is entirely possible, it takes a dedicated trading strategy and a good bit of know-how to do so.
On the other hand, we have those who look for more stable penny stocks to buy. These are traders that are hoping to make gains in the long term. Now, one strategy is not necessarily better than another, but, it all comes down to who you are as a trader.
This is why most pro investors will tell you to understand what your risk tolerance is and what your investing goals are before making a watchlist. And, in November 2021, it’s no different. So. With all of this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch in Mid-November
Accuray Incorporated (NASDAQ: ARAY)
Accuray Incorporated is a biotech penny stock that has been climbing in several recent trading sessions. If you’re not familiar, Accuray is a company that offers systems for alternative cancer treatments. These systems are in the field of radioactivity in relation to treating a variety of cancers. Accuray is involved in the development, manufacturing, and sale of these machines. One of its products, the CyberKnife system, is a robotic stereotactic radiosurgery device is used to treat various types of cancer.
On October 25th, Accuray announced that a study published in “Frontiers in Oncology” found that early-stage breast cancer patients could have significant improvements in survival if treated with the Accuray CyberKnife. Investigators of the study used complex modeling to possibly indicate the survival rate could be better using CyberKnife ABPI over other approaches.
“Accuray is leading the transformation of radiotherapy by partnering with our customers to develop technology and therapies that make a real difference in patients’ lives. This study reinforces the unparalleled accuracy of a 4π-like robotic CyberKnife platform and shows its tremendous potential as a treatment for early-stage breast cancer.”The President of Accuray, Suzanne Winter
Following the release of this info, ARAY stock has gone up substantially in the market. And, we have continued to see a sizable amount of bullish sentiment with biotech penny stocks and the biotech industry in general. This is especially true considering the effects of the pandemic. Considering all of this, will ARAY be on your list of penny stocks to watch this month?
NextPlay Technologies Inc. (NASDAQ: NXTP)
NextPlay Technologies Inc. is a penny stock that just increased by over 2.6% in the market. This is a tech solutions corporation that offers games and in-game advertising. Included in NextPlay’s current operations are crypto-banking, connected TV, and travel booking services as well. These services are offered to both corporations and consumers. In addition, the industries that NextPlay works in have all seen increased demand throughout the past year and a half.
The most recent news from the company came on October 20th, when it reported its fiscal second quarter revenue for 2020. Based on last years quarter, NextPlay achieved a new record high at $2.6 million. In addition, its gross profit was $1.4 million with a gross margin of 51.9%. NextPlay’s cash and cash equivalents for the quarter were $8.9 million in total as well. All of this is very positive for the company and shows that it is growing.
“Our second quarter of fiscal 2022 was a major inflection point for NextPlay, as we transformed our business through several highly-synergistic acquisitions, and laid the foundation for future growth and expansion.”Co-CEO of NextPlay, Bill Kerby
In the past few trading sessions, NXTP stock has seen heightened trading volume which indicates high popularity. So, based on this new info, will it be on your November watchlist?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock that we’ve covered numerous times in the past few months. If you’re not familiar, this company offers various agricultural products in countries all over the world. The company is involved in the processing and sale of its products. Among Farmmi’s offerings are edible fungi products such as shiitake, Mu Er mushrooms, and bamboo fungi. These products are sold in China, the United States, Canada, Japan, Korea, Europe, and the Middle East. The products are sold under the Forasen and Farmmi Liangpin brands.
On October 26th, the company announced that it showcased its extensive product line and cultivated sales at a major conference. This presentation was held by its subsidiary Zhejiang Farmmi Food Co. Ltd, and the theme of the conference was “Brand Leading, Circular Interconnection, and Rural Revitalization”.
“The conference served as an excellent platform for us to engage with customers and supply chain partners as we continue to cultivate sales opportunities. There has been a lot of interest in the expanded business strategy we outlined last month and interest in working with Farmmi as we actively pursue greater opportunities for revenue and profit growth.”CEO and Chairwoman of Farmmi, Ms. Yefang Zhang
FAMI has had some extremely high volumes in the market recently. With this info in mind, will FAMI be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. With so many out there, it can seem like a challenging task to pick just a handful for your watchlist.
But, with the right research on hand and a commitment to understanding how to trade, making money with penny stocks can be much easier than previously imagined. With that in mind, which penny stocks are you watching right now?