3 Penny Stocks to Add to Your Watchlist Right Now
After a short trading week for penny stocks and blue chips, investors are excited about the next few months. While the stock market has gone through a sizable amount of volatility, there are plenty of ways to make money with penny stocks right now. But, to take advantage of this volatility, traders need to have a thorough understanding of how the market works. In addition to that, knowing how to trade penny stocks will be a major benefit to you.
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On top of all of this, traders need to consider that the movement that penny stocks witness is highly dependent on speculation. As a result, investors need to work on deducing how worldly events will affect your portfolio. This involves out-of-the-box thinking and working to take advantage of how news can be beneficial to your trading. With all of that in mind, let’s take a look at some of the best penny stocks to watch after the long weekend.
3 Penny Stocks to Watch Right Now
- Ideanomics Inc. (NASDAQ: IDEX)
- Senseonics Holdings Inc. (NYSE: SENS)
- Meta Materials Inc. (NASDAQ: MMAT)
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is a penny stock that has seen substantial movement in the past few months. This company operates in two distinct sectors. On one hand, its EV division encourages fleet operators to switch their vehicles to EVs. Ideanomics assists at every stage of the process for these companies, including providing the procurement, finance, charging, and energy management requirements for the adoption of these commercial electric cars. On the other hand, Ideanomics Capital provides fintech services with the goal of improving the financial services industry’s efficiency, transparency, and profitability.
The company introduced its new JUSTLY Markets platform for transparent ESG-based investing and fundraising at the end of last week. Paul Karlsson-Willis has been named CEO of JUSTLY. This is a platform enabling investors to locate and invest in early-growth private enterprises and startups through equity crowdfunding, starting as low as $100.
“Going forward, we aim to grow our platform significantly through investors and founders, and the companies who currently feel passionately and want to act on their civic responsibility to better our planet. I am pleased to welcome Paul to the Ideanomics team as the CEO of JUSTLY and want to congratulate them on the powerful and compelling new branding work.”
Alf Poor, the CEO of Ideanomics Inc.
In the past few months, movement with IDEX stock has not been ideal. However, its future in the EV market is one of the main reasons that the company has continued to see popularity recently. Considering this, does IDEX deserve a spot on your penny stocks watchlist?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings, Inc. is a biotech corporation that develops glucose monitoring systems for diabetic patients. The company is involved in the product development and marketing processes for these products. Senseonics presently offers the Eversense and Eversense XL CGM systems, which use an under-skin sensor, a removable and rechargeable smart transmitter, and a real-time updating mobile application to assess glucose levels.
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On November 9th, Senseonics revealed its financial results for the third quarter of 2021. The company’s revenue was reported at $3.5 million during this time frame. This was a big increase above the $0.8 million reported for the same period in 2020. Ascensia’s commercial duties for Eversense and its orders for distribution in the European Union and the United States contributed to this progress.
“We are encouraged by the excitement demonstrated by patients and HCPs for the 180-day sensor in the US and we are pleased with the progression of the review and are hopeful the FDA will reach an approval decision in the coming months based on the positive PROMISE Study results. We look forward to launching the new system shortly after approval.”
The President and CEO of Senseonics, Tim Goodnow, Ph.D.
Over the last 6 months, SENS stock has grown by more than $1.30 per share. This represents a gain of over 70% considering its current price of over $3.40 per share. Based on this info, will SENS stock make your list of penny stocks to watch going forward?
Meta Materials Inc. (NASDAQ: MMAT)
Meta Materials Inc. is a manufacturing firm that specializes in smart materials and photonics. Meta Materials develops materials, nanocomposites, and laser glare prevention eyewear. These goods are sold to companies in the aerospace, automotive, medical, energy, and other industries.
On November 15th, Meta Materials released its third quarter and YTD 2021 results. During this quarter, Meta’s total revenue went up 189% year over year. This price increase was from $198,175 last year to $572,612 this year. For the 9 months YTD 2021, the company’s total revenue went up 111%. Despite these positive results, Meta Materials experienced a higher Q3 net loss than in 2020.
Despite less than stellar performance in the past month or so, MMAT stock has increased significantly this year. In fact, MMAT stock is over $2 higher per share than it was at the start of January 2021.
This represents a YTD gain of over 173%. And, in the past twelve months, shares of MMAT stock have shot up by a staggering 516%. This is a gain that is relatively uncommon and is one of the reasons that so many investors are watching MMAT stock right now. What’s worth noting is that these latest financial results show significant progress for the manufacturing company as well. With this in mind, will MMAT be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. With so much going on in the stock market, understanding how to take advantage of the current state of the market can be a major benefit to your portfolio.
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As we continue to barrel toward the end of the year, thinking outside of the box will be a great asset to your trading. Considering all of this, which penny stocks are you watching right now?
