3 Penny Stocks to Add to Next Week’s Watchlist
With another week of trading penny stocks and blue chips set to begin, investors are hopeful about the future. Although high inflation rates and uncertainty about the future have clouded several days of trading, overall, we’re seeing a sizable amount of bullish sentiment in the stock market. With penny stocks, we see that speculation is always the main driver of price movement. If you’re not familiar, speculation is any information, news, or announcement that can cause a stock to fluctuate.
While we like to think that penny stocks trade-off of fundamentals (financial reports), the majority of the time, speculation is leading the charge. And as a result, the best way to have a high chance of making money with penny stocks is to stay as up-to-date as possible with all the latest news and events.
This means looking at both industry and company-specific announcements and thinking outside of the box to consider how they’ll affect a given penny stock. And in 2021, there are hundreds of contributing factors that are all resulting in price movement with penny stocks. So, with all of that in mind, let’s take a look at three penny stocks to add to your watchlist this week.
3 Penny Stocks to Watch This Coming Week
Alzamend Neuro Inc. (NASDAQ: ALZN)
Alzamend Neuro Inc. is a biotech penny stock that has been making headlines in the past few weeks. If you’re not familiar, ALZN is a biotech corporation that makes products for treating neurodegenerative diseases and psychiatric disorders. Primarily, Alzamend focuses on the development side of its products. Its lead product is AL001, which is used to treat Alzheimer’s and other neurodegenerative diseases.
Last month, Alzamend Neuro received a positive pre-IND response from the FDA. This was for its AL002 trial, which is a cell-based therapeutic vaccine to restore Alzheimer’s patient’s immunological systems. The FDA agreed to Alzamend’s plan to start a Phase 1 / 2 clinical trial for the drug. Alzamend now predicts it will file the IND by the end of November for AL002, and start the clinical trial in the first quarter of 2022.
“Preclinical work supports AL002 being associated with a positive anti-inflammatory response and a decrease in brain amyloid contents. Based on AL002’s positive toxicology results, the biologic nature of this product,third-quarter, and the urgent need to deliver treatments for Alzheimer’s to patients, Alzamend proposed, and the FDA agreed, to conduct a combined Phase 1/2 study.”CEO of Alzamend, Stephan Jackman
Right now, there is a sizable amount of bullish sentiment surrounding the biotech industry at large. And as a result, companies like ALZN are seeing heightened attention. So, considering all of this, will ALZN stock be on your watchlist this coming week?
NuZee Inc. (NASDAQ: NUZE)
If you’re not familiar with NUZE stock, it has been in the news several times in the past week for its sizable gains. In the past five days, shares of NUZE stock have climbed by almost 150%, which is almost unheard of.
For some context, NuZee is a co-packing company focused on the single-serve coffee market. It offers small and large coffee roasters alike, the opportunity to develop eco-conscious single-serve coffee products. On October 20th, the company announced that it has partnered with its first brewery, Stone Brewing. Stone Brewing is one of the largest craft brewers in the country, and offers roasted coffee in a variety of flavors as well as its main product, beer.
“NuZee is a co-packing company that partners with brands of all sizes to help them develop within the single-serve and private label coffee category, and we are thrilled for this opportunity to partner with Stone Brewing,” said Travis Gorney, Chief Innovation Officer at NuZee.”Travis Gorney, the CIO of NuZee
This is a big deal for NuZee, and could help to bring in both heightened revenue and attention. On November 11th, the company announced that its partner brand, Cuvee Coffee, will be expanding into over 3,000 Walmart stores around the country. This is arguably an even bigger deal, and could leave a positive lasting mark on both companies involved. With all of this in mind, will NUZE stock be on your penny stocks watchlist moving forward?
Zomedica Corp. (NYSE: ZOM)
Zomedica Corp. is a penny stock that we’ve covered numerous times in the past few months. With an over 3% gain on November 12th, ZOM stock is once again on the radar. In the past twelve months, shares of ZOM stock have shot up by an incredible, 560%. This has to do with the company’s leading role in the veterinary diagnostics field. Currently, it is working on the Truforma product, which is a diagnostic tool for animals.
But, Zomedica has a broader focus on all types of diagnostics and medical devices to make the lives of veterinarians easier, and to keep pets healthy. During the pandemic, the number of animals that have been adopted has skyrocketed. While this may not have an immediate effect on ZOM stock, it is something to consider. Additionally, last month Zomedica announced the acquisition of PulseVet for $70.9 million in cash.
“As previously indicated following our fundraising efforts and the establishment of a business development capability, it has been our goal to complement our TRUFORMA product platform, and to accelerate the growth of Zomedica overall, by strategically investing to expand our product offerings, technologies, and product development efforts.”Robert Cohen, the CEO of Zomedica
While acquisitions are relatively common in the stock market, they are always exciting for investors to consider. So, whether ZOM stock deserves a spot on your list of penny stocks to watch is up to you.
Which Penny Stocks Are on Your Watchlist This Week?
Finding the best penny stocks to buy, and ones that will have a high chance of profitability can be difficult. But, with such a broad range of options to choose from, there are plenty of opportunities to make money with penny stocks in 2021. Considering all of this, which penny stocks are on your watchlist this week?