3 Metaverse Penny Stocks to Watch in November 2021
One of the largest trends in the stock market with both penny stocks and blue chips right now is the Metaverse. While this may seem like something out of a movie, the announcement from Facebook (NASDAQ: FB), which is now known as Meta Platforms, has made it very real.
If you’re unfamiliar, the metaverse is simply the name for the technological ecosystem that encompasses AI, AR, and VR. While this has been around long before Meta Platform’s latest announcement, the update from Mark Zuckerberg has brought it into the spotlight more so than ever. It’s hard to define which penny stocks are pure play metaverse stocks as the term itself is quite broad. But, we can look at it from a tech point of view, which brings a large number of penny stocks on board.
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For comparison, we could look at blue chip metaverse stocks like NVIDIA Corp. (NASDAQ: NVDA) and Microsoft Corp. (NASDAQ: MSFT), to begin drawing similarities. With penny stocks, there are hundreds of options to choose from. While metaverse stocks are exciting right now, many investors are betting on the future of the technology. And for that reason, it’s important to consider what the company is involved in right now, and what it could look like moving forward. Considering that, let’s take a look at three metaverse penny stocks to watch right now.
3 Metaverse Penny Stocks to Watch Right Now
- Super League Gaming Inc. (NASDAQ: SLGG)
- Phunware Inc. (NASDAQ: PHUN)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Super League Gaming Inc. (NASDAQ: SLGG)
One of the more decent gainers of the day so far is Super League Gaming Inc., pushing up by around 6% by EOD. In the past month and YTD periods, shares of SLGG stock have shot up by over 17% and 39% respectively. While SLGG may not be a pure-play metaverse penny stock, gaming is a major part of the digital world. And as a result, we could see Super League Gaming become more involved with any metaverse updates moving forward.
Only a few days ago, the company announced a new strategy to give creators the power to build their audiences inside the metaverse. This comes around a month after the company notably acquired the advertising platform for metaverse, Bloxbiz. In October 2021, the company stated that it reached 63 million active users with an ad exposure time of over 142 years collectively.
“The metaverse has become a significant point of conversation these last few days. Where Super League differentiates itself and its offerings is through a tireless focus on empowering creators. While other companies are beginning to dip their toes into the metaverse, we’ve been here for a while and continue to advance our market expertise around supporting metaverse creators and introducing brands into the space in a way that delivers powerful marketing outcomes.”The CEO of Super League Gaming, Ann Hand
This is all exciting news for both those who invest in SLGG stock and those who plan to. Considering its big role in the metaverse world, will SLGG stock be on your penny stocks watchlist?
Phunware Inc. (NASDAQ: PHUN)
Another player in the metaverse world right now is Phunware Inc. During trading on November 8th, shares of PHUN stock climbed by around 2% with a staggering one month gain of over 375%. Three days ago, the company announced the purchase of an additional 100 BTC at a price of just over $62,000. And only a few weeks before this, the company stated that its Digital Front Door solution would be available on the Epic App Orchard marketplace. This platform allows hospitals to engage with patients online and increases both efficiency and satisfaction.
“With almost a third of the Electronic Health Record (EHR) market and more than 40% of all hospital beds, Epic is a key strategic integration partner for Phunware, further tech-enabling the continuum of care on mobile.”The COO of Phunware, Randall Crowder
So, while the metaverse is focused on social gatherings and AR worlds, many believe that it could become a utility across multiple industries. This includes healthcare, which due to the pandemic, has transitioned heavily to digital communication platforms.
Broadly, Phunware offers a MaaS enterprise software program that can be used in a variety of industries. Because of how broad it is, Phunware has a wide range of potential opportunities with its software in the future. Whether this makes it worth adding to your list of penny stocks to watch is up to you.
Ebang International Holdings Inc. (NASDAQ: EBON)
Another solid gainer of the day so far is EBON stock, pushing up by over 7% at EOD. This brings its one month gain to a respectable 27%. For those unfamiliar, Ebang is a blockchain tech company working on chip designs and bitcoin mining machines. It offers ASIC chips as well as software that coincides with its other offerings.
The latest news from Ebang came last month when it announced its unaudited financial results for the first six fiscal months of 2021. In the report, the company brought in more than $18 million in total net revenue, which is a more than 65% increase over the same period of the previous year. In addition, its gross profit came in at roughly $5.6 million, representing a major gain over its gross loss of $0.97 million during the same period of 2020. Lastly, it managed to lower its net loss in the same comparable period by more than $2 million to $4.26 million.
“Over the past few years, the Company has been focusing on the research and development and sales of Bitcoin mining machines. However, this business is susceptible to the impact of macro and micro environments such as global political and regulatory attitude toward cryptocurrency in general, economic competitions, chip production capacity and supply, and Bitcoin price fluctuations.”The CEO and Chairman of Ebang, Mr. Dong Hu
Because bitcoin is heavily in focus and largely tied to the metaverse, many investors are paying attention to Ebang International right now. With that in mind, will it be on your watchlist?
Which Metaverse Penny Stocks Are You Watching?
While the metaverse is just getting started, many investors are looking for penny stocks that could benefit. Because there are hundreds of penny stocks with ties to the metaverse, it can be difficult to narrow down your list.
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But, because of the sheer number of stocks, the opportunity to make money with penny stocks in the metaverse is tangible. Considering that, which metaverse penny stocks are you watching right now?