3 Penny Stocks to Watch as 2021 Comes to an End
With a solid rebound for the stock market and penny stocks occurring today following last weeks selloff, investors are cautiously hopeful about the future. Right now, there is a sizable amount of uncertainty regarding what the next few months will look like. And as a result, we see penny stocks and blue chips trading at a very high level of volatility.
While large intraday fluctuations can be scary, they also present a large opportunity to make money with penny stocks. Because most investors tend to swing trade small caps, big movement can mean a chance to capitalize on large price swings.
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But, in order to do so, investors should have a thorough trading strategy and a consistent understanding of why penny stocks move. This means following recent news, updates, and market announcements as well as looking ahead. Considering all of this, let’s take a look at three penny stocks to add to your December list.
3 Penny Stocks to Watch for Your December List
- Express Inc. (NYSE: EXPR)
- 1847 Goedeker Inc. (NYSE: GOED)
- Crescent Point Energy Corp. (NYSE: CPG)
Express Inc. (NYSE: EXPR)
Express Inc. is a well-known clothing retail company based in the United States. As of the beginning of 2021, the corporation operated 570 shops in 46 different states. In addition to selling through traditional brick-and-mortar stores, the company sells its products through its e-commerce verticals through franchising in Latin America.
On December 2nd, the company reported its third-quarter results for 2021. During this period, its net sales increased 47% year over year. In addition, Express experienced a 26% increase in its eCommerce demand year over year, which is 21% higher than in 2019. Express’ EBITDA reached $32 million, which was a $125 million increase year over year. Now the company is positioned to potentially achieve its goal of $1 billion by 2024. All of these numbers show that Express is working hard to move forward despite the effects of the pandemic. And with retail sales continuing to grow right now, it looks like it could be in an advantageous spot for the future.
”Our strong third-quarter results reflect the second consecutive quarter of profitable growth and positive comparable sales versus 2019, and demonstrate the power of our EXPRESSway Forward strategy. Our results provide tangible evidence that the versatility, quality, and value of our product is resonating with consumers.”
The CEO of Express, Tim Baxter
YTD, shares of EXPR stock have grown by a highly substantial, 270%. This is a large sum and shows why investors are interested in EXPR stock right now. Based on this info, will EXPR be on your list of penny stocks to watch?
1847 Goedeker Inc. (NYSE: GOED)
Up by around 2%, today are shares of 1847 Goedekers Inc. Despite being down by roughly 70% in the past year period, we have seen some signs of a bullish turnaround in the last few trading sessions. Before we get into the company itself, it’s worth noting that GOED stock is frequently mentioned online as a meme stock. These are stocks that see high social media popularity, and therefore can gain or lose significantly in any given trading day.
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While Goedekers has operations in many businesses right now, the company is heavily involved in the sale of appliances and other large products. After purchasing Appliances Connection for $205 million, the company quickly moved to buy Appliance Gallery for the same purpose. And, in its most recent third quarter, Goedekers posted a solid $142 million in net sales and a pro forma net income of $3.9 million or $0.03 per share. For the YTD period, GOED brought in roughly $405 million in net sales on pro forma gross products of $96.1 million.
These numbers are substantial and illustrate how quickly 1847 Goedeker is working to grow its business. While retail numbers have been strong in the past few months, it all depends on whether or not Goedekers can keep up this momentum. With all of that in mind, do you think GOED stock is worth adding to your penny stocks watchlist?
Crescent Point Energy Corp. (NYSE: CPG)
Crescent Point Energy Corp. is a penny stock that has shot up by nearly 9% in the past five days. This is due to both the bullishness on energy penny stocks right now, and the company itself. If you’re not familiar, this company discovers, develops, and produces crude oil and natural gas reserves. Its oil and natural gas properties are spread across Canada and the United States. Crescent Point provides a wide variety of oil for sale globally, which has made it a popular player in the energy sector right now.
On October 28th, the company released its third-quarter results for 2021. This company generated more than $180 million in excess cash flow during this period. During the quarter, Crescent Point reduced its net debt by over $180 million. The company’s total net income for this three-month period ended September 30th, 2021, was $77.5 million. Its net income includes $44 million in non-recurring charges related to a re-evaluation of its tax pools.
“Our third quarter and year-to-date results continue to demonstrate the success of our operational, financial and strategic execution. We are focused on continually enhancing the business and shareholder returns through our key pillars of balance sheet strength and sustainability. Our recently increased dividend also demonstrates our commitment to returning capital to shareholders, with a goal to increase such returns over time.”
Craig Bryksa, the President and CEO of Crescent Point
Amid higher volumes, will CPG stock make it onto your penny stocks watchlist?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. However, the wide breadth of options means that investors need to be selective about the penny stocks they add to their lists.
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Considering that there is so much movement in the stock market right now, taking advantage means understanding exactly why penny stocks are moving. With all of that in mind, which penny stocks are you watching right now?
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