3 Penny Stocks to Add to Your Watchlist Right Now
If you’re making a penny stocks watchlist for next week, you’re not alone. Each week and sometimes as frequently as each day, traders will work on a penny stocks watchlist to stay ahead of the game. While it can seem like a daunting task at first, having a watchlist that is informed by all the latest market events, can be a great way to make money with penny stocks. And in 2021, it is extremely easy to get left behind given the sheer number of factors that are impacting the market.
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Right now, this includes everything from the pandemic to inflation and anything in between. But, what all of this has in common is that it has produced a general feeling of uncertainty regarding the future. This uncertainty has led to high volatility and ultimately, plenty of opportunity to take advantage of the current momentum. But, to do so involves having a few things by your side; namely information. If you’re investing in penny stocks, it’s always best to look at both the speculative and fundamental factors that pertain to a specific company.
On one hand, speculation is the main driver of price and includes information such as rumors, press release and so on. On the other hand, fundamentals can be extremely important as well. This includes aspects outlined in a company’s balance sheet. So, with all of this in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks For Your November 2021 Watchlist
SOS Limited (NYSE: SOS)
One of the penny stocks that we have discussed frequently in the past few months is SOS stock. If you’re unfamiliar, SOS is a tech corporation that offers data mining and analysis services. This includes marketing data, tech, and solutions for insurance companies, EMS organizations, and more. It also operates the SOS cloud emergency rescue service SaaS platform for medical rescue, auto rescue, financial rescue, and more. Additionally, SOS has entered the cryptocurrency and blockchain industry with crypto mining and blockchain-based insurance services.
On November 9th, the company reported new progress on the construction of its new hosting center. This North American super-computing and hosting center is in Phase 1 of its construction at the moment. The center is located in Wisconsin and has power levels expected around 50MW. This is all a part of SOS’s plan to expand its global footprint this past year. This center will be fueled by renewable power and grid power.
“The supercomputing and hosting center in Wisconsin is an important part of SOS’s efforts to create its own blockchain technology-based ecosystem. We look forward to launching our Super-Computing and Hosting service business in Wisconsin in the first quarter of 2022.”The CEO and Chairman of SOS, Mr. Yandai Wang
Up 3.31% on November 12th, will SOS be on your penny stock watchlist?
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a penny stock that has shown a sizable amount of momentum in the past few trading sessions. This company offers location-based services and mobile app products. Its Luokuang mobile app offers information, entertainment, e-commerce, travel, and more. It also offers software dev kits and app programming interfaces for developers. Luokung additionally offers a spatial-temporal cloud platform. These services have become extremely popular for everything from autonomous driving to standard navigation services and more.
On November 1st, the company reported its financial results for the six months ended June 30th, 2021. The company reported revenues of $37.8 million for this quarter, compared to $7.3 million last year. Despite this, its net loss went up year over year. Lastly, its basic and diluted loss per share of $0.09 was unchanged from the year prior. These results are highly encouraging and show that LKCO is working hard to grow.
“We achieved record revenue of $37.8 million for the first half of 2021, primarily as a result of solid growth in our LBS business. During the period, Luokung expanded its partnership base and began providing our premier portfolio of products and services for leading businesses across various industries, and worked to successfully overcome the challenges of being designated a Chinese Communist Military Company by the U.S. Department of Defense.”Chairman and CEO of Luokung, Mr. Xuesong Song
With its sizable recent momentum, will LKCO stock be on your penny stocks watchlist?
BEST Inc. (NYSE: BEST)
BEST Inc. is an industrial penny stock that managed to climb by almost 5% by EOD on November 12th. If you’re not familiar with BEST Inc., it is a smart supply chain service provider. The company’s BEST Cloud platform allows people to operate businesses through SaaS-based apps.
It offers integrated solutions and services across warehouse management, order fulfillment, express delivery, freight, and more. With the massive rise in e-commerce during the pandemic, companies like BEST Inc., have continued to show increased potential over the last year or so.
On November 4th, BEST announced the release date for its third-quarter financial results. Quarterly financial results often provide investors insight as to which direction a company might be headed. The company will be releasing these third-quarter results after the U.S. market closes on Tuesday, November 16th, 2021. Following the release of these financial results, a conference call will take place. In the last 5 days, BEST stock has been climbing upwards in the market. Noting all of this new info, will BEST be on your list of penny stocks to watch?
Are Penny Stocks Worth Buying or Not?
Finding the best penny stocks to buy can be tricky with so many factors occurring at once. Because of the sheer number of things that are impacting the stock market right now, there is also plenty of momentum to take advantage of. To do so involves thinking outside of the box and considering how certain events will impact specific stocks.
In addition, it’s prudent to have a proper trading strategy by your side. This will give you the best chance of making money with small caps. Considering all of this, do you think that penny stocks are worth buying or not?