penny stocks inflation

3 Top Penny Stocks to Add to Your Watchlist Right Now

Although both penny stocks and blue chips have rebounded after yesterday’s selloff, many investors have fear surrounding the future. The inflation that has occurred as a result of the pandemic, billions in stimulus, and an economic recovery, is causing major market volatility with penny stocks

“We’re going to have this push and pull where we get these headline numbers that shock the markets a bit, like with inflation yesterday.” And although inflation is wreaking havoc on world markets, many penny stocks investors tend to thrive in stormy waters. 

Yung-Yu Ma the Chief Investment Strategist at BMO Wealth Management

This is due to the common strategy of day-trading or swing-trading. Because swing traders look for both high volume and large price swings, volatility is key to making money with penny stocks.

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So, while it may seem scary at first, having a developed strategy can be profitable for some. Considering this, let’s take a look at three penny stocks to watch that could be inflation proof. 

3 Penny Stocks to Watch Right Now 

  1. New Oriental Education & Technology Group Inc. (NYSE: EDU
  2. Genius Brands International Inc. (NASDAQ: GNUS
  3. McEwen Mining Inc. (NYSE: MUX

New Oriental Education & Technology Group Inc. (NYSE: EDU)

New Oriental Education & Technology Group Inc. is an education company that is based in China. This company offers test preparation services, K-12 AST, and other educational services. Its test preparation courses are often taken by students that want to take entrance exams that are needed in the United States, China, and several other countries around the world.

Recently, The Wall Street Journal reported that China wants to issue over a dozen licenses to educational companies. These licenses would allow the companies to continue after-school tutoring. This follows news from four months ago regarding a ban on for-profit tutoring that caused Chinese education companies to turn to a non-profit business model. This new policy will end the confusion that has resulted in companies losing billions of dollars in value. 

This new licensing proposal states that these companies still cannot operate their after-school tutoring services on a non-profit basis. But, the proposal also states that the companies can offer other courses on a for-profit basis, such as tutoring for adults. The government will set a cap on the amount that these companies can charge for services. It will be interesting to see how this new proposal impacts New Oriental moving forward. It’s also worth considering that shares of EDU stock managed to climb by roughly 7% during today’s trading. Noting this new info, will EDU be on your list of penny stocks to watch in November?


Genius Brands International Inc. (NASDAQ: GNUS)

Genius Brands International Inc. is an entertainment company that offers various forms of content. Primarily, Genius offers multimedia content for the age group of toddlers to tweens. The company is involved in the creation and licensing of this content. Currently, Genius offers Rainbow Rangers, Llama Llama, Space Pop, and much more. This content is offered to broadcasters, manufacturers, and more. During the pandemic, the demand for new and original digital content has skyrocketed. This is especially true for the younger demographic, as at-home education became the norm.

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Recently, the company announced its acquisition of WOW! Unlimited Media on October 27th. The companies have reached an agreement in which Genius will buy all of WOW!’s outstanding shares. This transaction will cost around $53 million in cash and stock. WOW! shareholders will get 0.271 of a Genius Brands common share for every WOW! share they own.

“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

With over 5% in gains in the past month, will GNUS be on your list of penny stocks to watch?


McEwen Mining Inc. (NYSE: MUX)

Another decent gainer of the day so far is McEwen Mining Inc. If you’re not familiar, McEwen is a company that searches for gold and silver deposits located in the Americas. McEwen is involved in the exploration, production, development, and sale of these products. Primarily, the company operates in the U.S., Canada, Mexico, and Argentina. Currently, it operates the Gold Bar mine, Black Fox mine, and the El Gallo Project among others.

On the 3rd of November, McEwen released its third-quarter results for 2021. The company stated that is currently on track to meet its 2021 production guidance. McEwen states that it has made significant progress from an operational and financial standpoint. As of September 30th, 2021, McEwen had cash and liquid assets and working capital at $72.7 million and $45.8 million respectively.

Now the company continues to “aggressively” invest $6.2 million in exploration and $4 million in advanced projects. The company stated, “These investments in our future growth and profitability accounted for a large part of our reported net loss of $17.4 million, or ($0.04) per share, compared to a net loss of $9.8 million, or ($0.02) per share in Q3 2020.”

In the past month or so, shares of MUX stock have climbed by around 7.8%. While this may not seem like much, we don’t frequently see mining stocks move with such velocity. Considering that many investors are turning to more stable stocks as a way to avoid inflation, will MUX be on your penny stocks watchlist this month?


Which Penny Stocks Are on Your Watchlist?

If you think investing in penny stocks in 2021 is difficult, you’re not alone. But, because of the sheer number of factors that are impacting penny stocks and blue chips, making money with intraday movements can be achievable.

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Considering that there are hundreds of penny stocks to choose from, it all comes down to knowing which ones could be worth it. With that in mind, which penny stocks are on your watchlist right now?

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