best penny stocks to buy now

3 Penny Stocks to Add to Your Watchlist Right Now 

Investing in penny stocks is and has been very popular for the past few years. And as a result of the extraordinary times we’re living in, trading penny stocks in 2021 is extremely volatile. So whether you’re new to buying and selling penny stocks or just looking to freshen up your knowledge, there is plenty to understand about small caps. 

How to Invest in Penny Stocks in 2021

If you’re thinking about investing in penny stocks right now, there are a few things to keep in mind. The most important factor to understand is that penny stocks are volatile, and this volatility is more often than not, caused by speculation.

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As a result of high speculation, investors need to have the most up-to-date information possible to have the best chance of making money with penny stocks. Right now, this includes understanding the effects of the pandemic, inflation, geopolitical events, and the upcoming Fed meeting. All of these factors will undoubtedly affect both your portfolio and the stock market at large. 

Once you have a consistent understanding, the next step is to build out a proper trading strategy. Having a trading strategy means knowing what type of trader you are and what level of volatility you’re comfortable with. This can be a time-consuming process, but it will make sure that you’re only investing in penny stocks that fit your investing style. While this is not a be-all-end-all list of how to buy penny stocks, it should help to put you on the right track. With that in mind, let’s take a look at three penny stocks to watch right now. 

3 Penny Stocks to Watch Right Now 

  1. CPS Technologies Corp. (NASDAQ: CPSH
  2. Galera Therapeutics Inc. (NASDAQ: GRTX
  3. Color Star Technology Co. Ltd. (NASDAQ: CSCW

CPS Technologies Corp. (NASDAQ: CPSH) 

One of the bigger gainers of the day so far is CPS Technologies Corp. By midday, shares of CPSH stock had shot up by over 25% to more than $4.08 per share. Before we get into why it’s worth understanding exactly what the company does. CPS is a tech penny stock working in the production of energy management solutions. This includes tech for electric trains, wind turbines, hybrid/electric vehicles, 5G infrastructure, and much more.

As you can see, CPS is involved in several high-growth industries with solid short and long-term prospects.  On December 14th, CPS Technologies announced that several of its contracts have brought in orders for the 2021 year so far of more than $37 million.

“We are pleased to share that the entire business continues to expand at a growth rate in excess of our plans. The $37M in orders exceeds the combined bookings of the two previous fiscal years, and our Book to Bill ratio remains healthy at 1.7. We are quite thrilled with the realization by multiple customers of the value of CPS’ solutions.”

The CEO of CPS, Michael McCormack

This is all exciting news for the company and shows just how quickly it is growing. While today’s gain is highly speculative and illustrates the volatility of CPSH stock, its 77% one-year gain is encouraging overall. With all of that in mind, will CPSH be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_CPS

Galera Therapeutics Inc. (NASDAQ: GRTX) 

Another major gainer of the day is Galera Therapeutics Inc., which managed to climb by a staggering 104% by midday. While GRTX stock’s momentum this year is nothing to write home about, its sizable uptick during today’s trading is worth noting. For some context, Galera Therapeutics is a biopharmaceutical company working on the development of novel therapeutics for radiotherapy in cancer. Currently, Galera has several products that are in the various stages of approval, including GC4711, FC4419, and more. 

[Read More] 4 Short Squeeze Penny Stocks To Watch Right Now

While many gains like today’s occur without news, Galera made an exciting announcement during pre-market trading on December 14th. Today, the company stated that it met its primary endpoint goals in statistical significance for its Phase 3 ROMAN Trial of Avasopasem for radiotherapy-induced severe oral mucositis. 

“Given the high unmet medical need for patients with head and neck cancer who develop radiotherapy-induced severe oral mucositis, we are gratified that the Phase 3 ROMAN trial achieved statistical significance on the primary endpoint after the correction of the statistical programming error.”

Mel Sorensen, M.D., President and CEO of Galera

With the biotech industry, trials like this are extremely important for investors to consider. And while this does not mean full approval, it is a step in the right direction, and therefore, cause for a gain like we witnessed today. Considering this, does GRTX stock deserve a spot on your list of penny stocks to buy?

Penny_Stocks_to_Watch_Galera

Color Star Technology Co. Ltd. (NASDAQ: CSCW) 

While CSCW stocks gain of around 3% is not much compared to the other two stocks on this list, it is worth considering on a day when the rest of the market is down. Similar to the other stocks mentioned, Color Star made an exciting announcement during morning trading on December 14th. On Tuesday, Color Star stated that it signed into a memorandum of understanding with Alibaba Cloud. The pair will come together at the upcoming World Expo 2020 in Dubai on Dec. 25th to share more about the details and present to the crowd. 

“We are honored to cooperate with Alibaba Cloud. This will greatly help and improve the Company’s next step in the technology sphere and technology creation such as metaverse. It is also an honor to participate in the World Expo. In 2022, the company will bring more business content, and our Color Star metaverse will also improve step by step and be presented to the public.”

A Spokesperson for Color Star, Mr. Douglas

If you’re not familiar, Color Star works in both entertainment and education and provides performances, music education, and more. It provides these services via its subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. So, considering all of that exciting news, is CSCW stock worth watching or not?

Penny_Stocks_to_Watch_Color

Are Penny Stocks Worth Buying in December 2021?

If you’re looking for the best penny stocks to buy in December 2021, there are hundreds of options to choose from.

[Read More] These 3 Penny Stocks Climbed While the Market Was Down, Here’s Why

But, due to the overwhelming volatility that the stock market is witnessing, investors need to have both a proper trading strategy and a commitment to knowing what is going on in the market at large. With all of this in mind, do you think that penny stocks are worth buying in 2021 or not?


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