3 Active Penny Stocks That Exploded During Today’s Trading
Despite overarching fears of inflation, penny stocks continue to fly high. Today, we witnessed several stocks shoot up in the double-digit percentage points, indicating the high bullish sentiment in the market. But, there is also an air of uncertainty that investors should consider wholly.
Over the last year and a half, the stock market has rebounded heavily as the economy continues to recover from the ongoing pandemic. And during that time, many penny stocks and blue chips climbed in very substantial numbers.
But now that the massive stimulus is beginning to catch up with the economy, many investors are fearful about the future. This has led to investments in energy stocks, resource stocks (mining, gold, materials), and others. Now, when we consider penny stocks, we see that most investors tend to swing trade them. This is the result of the rapid price movements that penny stocks tend to see.
So, while penny stocks are no where near immune to larger economic challenges, they can provide potential to make money despite how the broader market is performing. However, this all comes down to what your trading strategy is and what your individual tolerance for risk is as well. With all of that in mind, let’s take a look at three penny stocks that are extremely active in the market right now.
3 Penny Stocks That Are Active In the Market Today
- Siyata Mobile Inc. (NASDAQ: SYTA)
- Creative Realities Inc. (NASDAQ: CREX)
- Digital Ally Inc. (NASDAQ: DGLY)
Siyata Mobile Inc. (NASDAQ: SYTA)
Shares of SYTA stock managed to climb by over 50% during intraday trading on November 15th, indicating sizable bullish sentiment. And while many large gains with penny stocks occur without news, SYTA made an exciting announcement during early morning on Monday. The company stated that it closed on a $6 million funding deal from Lind Global Partners II, LP. For some context, Siyata is a B2B provider of Push-to-Talk over Cellular devices. These smartphones can be used in cars and with customers such as first-responders in remoter areas.
If we go back a few weeks, we can look at SYTA’s Q2 2021 financial results. During the three months ended on June 30th, the company reported revenue of around $356,000, which is an 83% drop over the same period of the previous year. The company states that this is due to a one-time merchandise return from a customer for around $1.13 million.
Despite this, it managed to end the period with roughly $5.81 million in cash on hand and $5.35 million in working capital. Right now, the company is still seeing the effects of the pandemic on its business. But, it is hopeful about the future. Considering all of this, will SYTA stock be on your list of penny stocks to watch?
Creative Realities Inc. (NASDAQ: CREX)
One of the biggest gainers of the day is CREX stock, pushing up by over 125% at midday. This is a staggering gain and one that brings its six-month and one-year upticks to almost 180% and over 260% respectively. So, why exactly did CREX stock shoot up so much today? Well, after market hours on Friday, November 12th, Creative Realities announced a definitive merger with Reflect Systems Inc.
“This really is an ideal combination. CRI has a strong history of deploying large-scale and sophisticated digital signage projects, driven by our exceptional creative and project management teams. Reflect has world-class content management software like ReflectView, which has become an industry standard for scalable, flexible, reliable digital signage.”The CEO of Creative Reality, Rick Mills
After the merger is completed, the company will be able to offer a much larger array of products in the signage industry. This includes everything from Digital Out-of-Home advertising with the AdLogic Platform, Engineering design, and much more. Obviously, it is still early as this merger only occurred a few days ago. But, investors remain excited about the future prospects that the company could now have. With that in mind, do you think CREX stock is a worthwhile addition to your penny stocks watchlist?
Digital Ally Inc. (NASDAQ: DGLY)
Last on the list of sizable gainers today is DGLY stock, pushing up by over 7%. It’s worth noting that no major news came out for DGLY stock today that would spark this gain, but we can look at an announcement it made last week.
On Wednesday, November 10th, the company announced that it would be discussing its third-quarter operating results on Wednesday, November 17th at 11:15 AM EST. This includes several topics such as its recent acquisition of TicketSmarter, the creation of its Shield Health Protection line, and several other subjects that are of interest to investors. If you’re not familiar with Digital Ally, it produces a wide range of video recording and analytic software devices.
These are in use by agencies such as law enforcement, emergency rescue, security, and more. Several months ago, the company launched its Shielf Health Protection Products line as a way to benefit from the pandemic. It offers Shield Cleaners, non-contact thermometers, face masks, gloves, and more.
In the past month, shares of DGLY stock have shot up by over 16% despite a YTD drop of around 50%. So, is DGLY stock making a comeback? It may be too early to say, however, its bullish sentiment in the past few weeks is definitely worth considering. So, will DGLY stock be on your list of penny stocks to buy this week or not?
Which Penny Stocks Are You Buying Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. But, with so many penny stocks to choose from, it all comes down to finding the ones that fit your portfolio and investing style.
In addition, traders should consider the investing environment and what’s going on in the world before buying and selling any penny stocks. Right now, this includes inflation, a general uncertainty surrounding the future, and a few other trends to keep track of. So, with all of this in mind, which penny stocks are you buying right now?