Are These Penny Stocks on Your Watchlist Right Now?
After a less than stellar day of trading penny stocks and blue chips due to a new Covid variant, there could be potential on the other side. Often when we see major stock market drops, many penny stocks can climb after the dust has settled. But, to understand which could have potential, it’s important to consider how the news will affect certain industries.
Today, news came out that a new Covid variant known as B.1.1.529, which originated in South Africa, could be more transmissible and evade our current vaccine technology. But, it is also too soon to fully understand the potential outcomes of this variant. This uncertainty is sparking major market moves including the largest drop in the DOW that we’ve seen in 2021. As a result, investors continue to look for penny stocks that could see potential in the short or medium term.
For this reason, it’s crucial to stay up to date on all the latest news and events. Because of this, understanding how this new variant could affect the stock market will be a major benefit to your portfolio. With all of that in mind, let’s take a look at three penny stocks to watch before next week.
3 Penny Stocks For Your List This Coming Week
- Federal National Mortgage Association (OTC: FNMA)
- BIOLASE Inc. (NASDAQ: BIOL)
- Bridgeline Digital Inc. (NASDAQ: BLIN)
Federal National Mortgage Association (OTC: FNMA)
Federal National Mortgage Association is a penny stock that has climbed by around 7% in the past month. If you’re not familiar, FNMA is a company that securitizes mortgage loans started by lenders into Fannie Mae mortgage-backed securities. Primarily, the company offers single-family and multi-family mortgage loans or securities. Additionally, FNMA provides credit risk and loss management services. Its services are used by credit unions, banks, insurance companies, and more.
On November 22nd, the company priced its $640 million social multifamily DUS REMIC. This was accomplished under Fannie Mae’s Guaranteed Multifamily Structures program. This marks the twelfth issuance for Fannie Mae GeMS in 2021. The company’s goal at the moment is to support affordable and workforce housing all over the country.
“As we head into the holiday this week, we are thankful for our investor community who, despite a crowded quarter of competing issuances and increased pressure on spreads, was able to come out in support of the over 4,200 units of restricted affordable housing and 2,000 affordable manufactured housing community pads backing this deal.”The Senior Vice President of Multifamily Capital Markets & Pricing at Fannie Mae, Dan Dresser
Amid this new information, will FNMA be on your list of penny stocks to watch?
BIOLASE Inc. (NASDAQ: BIOL)
BIOLASE Inc. is a biotech penny stock that has risen in value by over 50% in the past twelve months. For some context, BIOLASE specializes in the production and sale of dental laser devices. The corporation is involved in the creation, manufacturing, marketing, and sale of its products. Its products enable dentists to conduct minimally invasive procedures, like aesthetic and restorative dentistry in an easier and more effective way. In addition to improving clinical outcomes, the products’ major purpose is to prevent complications from minimally invasive treatments.
On November 23rd, the NASDAQ granted BIOLASE an additional 180-day extension to meet the minimum bid price requirement. The company also entered a favorable credit agreement amendment at the same time. BIOLASE now has until May 23rd, 2022 to regain compliance with the Minimum Bid Price Rule. If the company’s common stock closes at or above $1 per share for 10 straight trading days, the company will remain in compliance with the rule.
“The 180-day extension from NASDAQ gives us more time to demonstrate the success of our growth strategy, which has delivered stellar results over the past three quarters, and for the financial community to acknowledge and value the opportunity we have ahead”.John Beaver, the President and CEO of BIOLASE
While it is unknown whether BIOL stock will rise up to the $1 mark in that time, there’s no doubting the potential of its products. And as a result of the major bullishness around biotech stocks right now, many investors are focused on BIOL at the moment. Considering all of this, will BIOL be on your penny stock watchlist in December?
Bridgeline Digital Inc. (NASDAQ: BLIN)
Bridgeline Digital Inc. is a United States-based tech company showing high performance. Primarily, Bridgeline is a cloud-based marketing tech software provider. It offers a platform for companies and devs to make sites, web apps, online stores, and more. In addition to its Bridgeline Unbound platform, it offers the Bridgeline Unbound Experience Manager. This is a marketing automation engine and content management system. Also helping with content is the company’s Bridgeline Unbound Content Manager.
On November 24th, the company signed a multi-year agreement with a sales intelligence giant. Its DataBravo product was picked by this leading sales intelligence company to support its lead augmentation software. This agreement continues Bridgeline’s expansion in the augmentation space. This partner will use lead generation opportunities and acquire market opportunities by using DataBravo.
“We’re so excited to empower our new partner’s data enrichment and lead augmentation capabilities with DataBravo. I look forward to seeing how DataBravo’s wealth of data can enhance the lead generation experience.”CEO of Bridgeline, Ari Kahn
After releasing this new info, BLIN stock has gone up in value. While its performance was affected by the major market crash today, there is a sizable amount of emphasis on the tech industry right now. Considering that, do you think that BLIN stock deserves a spot on your list of penny stocks to watch this week?
Which Penny Stocks Are You Buying Right Now?
Finding the best penny stocks to buy can be complicated. But, with the right news and a consistent trading strategy, making money with penny stocks can be completely doable.
In addition, understanding how the variant will affect certain industries will be a big benefit to your portfolio. With that in mind, which penny stocks are you buying right now?