3 Penny Stocks to Add to Your November 2021 Watchlist
While November is more than halfway done, penny stocks continue to see bullish momentum. Although it has been a shaky month and past few months for both penny stocks and blue chips, it’s clear that investors are hoping for a bullish future. To understand whether penny stocks have the potential to keep making gains or not, we have to consider what is going on in the broader stock market.
One of the largest impacts on the market and the economy right now is inflation. This is true as billions of dollars in stimulus have been given out in the past year and a half, and now we also have the $1 trillion Infrastructure Bill to contend with. As a result, investors are fearful about what the future could bring and whether stocks can continue to rise during that time.
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In addition to this, we have to understand which industries are seeing bullish momentum right now. This includes tech penny stocks, biotech penny stocks, and EV penny stocks to name a few. Obviously, there is a lot to keep track of when it comes to trading penny stocks in 2021. But, with a consistent trading strategy and thorough understanding of current market conditions, making money with penny stocks is entirely possible. With all of that in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- Express Inc. (NYSE: EXPR)
- Longeveron Inc. (NASDAQ: LGVN)
- Meten Holding Group Inc. (NASDAQ: METX)
Express Inc. (NYSE: EXPR)
Express Inc. is a retail-focused penny stock that managed to climb by over 7% during trading today. This brings its YTD gain to a staggering 379%, which is no small feat. If you’re not familiar, Express Inc. is a well-known retailer in the United States. As of the beginning of 2021, the corporation operated 570 shop locations under the Express name in 46 different states. In addition, the company sells its products through its e-commerce website express.com and franchisees some stores in Latin America.
On November 16th, Express announced that it will soon be reporting its financial results for 2021. The company stated that these results will be reported on Thursday, December 2nd, 2021. Express’s CEO Tim Baxter will host a conference call together with the President and COO Matt Moellering.
As we typically see, financial results can have a large impact on how a penny stock trades. If the results are good, we can often see positive momentum and vice versa. That is why these results will likely be very important to those who invest or plan to invest in EXPR stock. Keeping this in mind, will EXPR be on your list of penny stocks to watch?
Longeveron Inc. (NASDAQ: LGVN)
One of the biggest gainers of the day on November 18th is LGVN stock. By midday, shares of Longeveron had shot up by over 128% to $6.67 per share. While this takes it out of penny stock territory, LGVN stock began the day at $3.72, putting it firmly in penny stock territory. Despite a rather unremarkable trading pattern in the past year, major news today sparked this explosive gain for the interesting biotech penny stock.
The move regards its Lomecel-B drug, which could have potential in treating heart disease in infants. Today, the company announced that the FDA approved its compound through the Rare Pediatric Disease designation. This is a huge deal for the company and means that if all trials go according to plan, it will receive a priority review for full approval.
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Now, this is still very much in the early stages, but the potential that this designation implicates could be big. And, it could have an effect on the future of the company and any other drugs it plans to submit in the next six to eight months. With biotech penny stocks, FDA regulation is one of the major causes for growth. And as a result, we tend to see major gains similar to today’s, when this occurs. Considering this, does LGVN stock deserve a spot on your penny stocks watchlist moving forward?
Meten Holding Group Inc. (NASDAQ: METX)
Another decent gainer of the day and a penny stock that we’ve covered numerous times is METX stock. By midday, shares of METX had jumped by a respectable 3.4% bringing its one-month gain to over 35%. Before we go into why shares are climbing, it’s worth talking about what Meten Holding does.
Meten offers a broad range of English Language Training (ELT) services in China. These services are offered to both professionals and students through an online platform and a large network of in-person learning centers. Within the Meten name are three sub-brands; Meten, ABC, and Likeshuo. With the rapid globalization that has occurred in the past decade, more students and professionals than ever are looking to learn English.
So, at the end of last week, the company announced that Aegis Capital Corp. would act as the exclusive placement agent on a $20 million registered direct offering. This offering will consist of ordinary shares priced at the market. This is necessary as legislative measures in China blocking the use of for-profit tutoring, had a major effect on both Meten and other similar businesses. With this capital, the company could begin to revamp its business model and find its place in a post-for-profit tutoring ban in China. Whether this makes METX stock worth buying or not is up to you.
Are Penny Stocks Worth Buying in 2021?
While it is difficult to give an answer with certainty here, the choice of whether to buy penny stocks or not is up to you. Investing is a very individual task and one that should be completed based on your own trading style and investing goals.
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But, given that there are so many penny stocks to choose from, the potential to make money with small-caps in 2021 is palpable. With all of this in mind, do you think that penny stocks are worth buying in 2021?