3 Penny Stocks to Add to Your Watchlist Tomorrow
With another day of trading penny stock almost here, investors are hopeful that the future can remain bullish. While penny stocks have been extremely volatile over the past few months, this volatility also offers investors the chance to make money with small caps. For those who use the swing trading method, there is plenty of momentum to take advantage of. Now, traders must also understand exactly what is going on in the stock market in order to take advantage.
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This means looking at the news, company and industry-specific events, and more. In addition, knowing what events are upcoming, will also be a major benefit to you and your trading. While no one expects the market to get any less volatile in the coming days, there are a variety of ways to benefit. With that in mind, let’s take a look at three penny stocks that investors are watching this week.
3 Penny Stocks to Watch This Week
- ReTo Eco-Solutions Inc. (NASDAQ: RETO)
- Autoweb Inc. (NASDAQ: AUTO)
- Gaotu Techedu Inc. (NYSE: GOTU)
ReTo Eco-Solutions Inc. (NASDAQ: RETO)
With a 12% gain during trading today, RETO stock is in focus for many investors. While today’s gain may seem substantial, shares of RETO stock have climbed by almost 80% in the last five days. This is a major gain and one that reflects an announcement made a few weeks ago.
On January 4th, the company announced that its subsidiary, ReTo Technology Development Co. Ltd., entered into an equity acquisition agreement with Hainan REIT Mingde Investment Holding Co. Ltd. The agreement will see RETO gain 100% interest in REIT Mingde which owns over 60% of the equity interest in Yile IoT Technology Co. Ltd. For some context, Yile IoT is a large high-tech company based out of China whose main focus is on IoT tech.
“We are excited about the acquisition of REIT Mingde as we believe this transaction will enable us to integrate Yile IoT’s technologies into ReTo and accelerate the upgrade and growth of ReTo’s business. With the support of IoT technologies, ReTo strives to become a technology driven provider of services for ecological and environmental protection industries, and increase value for our shareholders.”
The CEO of ReTo Eco-Solutions, Mr. Hengfang Li
This is all exciting news and reflects solid growth potential for RETO stock. With that in mind, will it earn a spot on your list of penny stocks to watch or not?
Autoweb Inc. (NASDAQ: AUTO)
Another decent gainer of the day so far is Autoweb Inc. By EOD, shares of AUTO stock had shot up by over 11% to north of $3.50 per share. If you’re not familiar, AutoWeb Inc. provides a large range of auto-relates services to dealers and manufacturers around the country.
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Since the mid-90s, AutoWeb has been helping car buyers and automakers sell, buy, and everything in between. The company states that it offers leads, clicks, marketing services, and much more. Today, the company announced that it will offer its customers a way to drive a Tesla Model 3 without having to buy or lease a car. Rather, this will involve a month-to-month time frame.
“As more of the vehicle transaction process shifts online, our business continues to evolve toward transactional monetization opportunities. We also remain focused on growth-oriented segments of the market—from new vehicle acquisition offerings to electric vehicle adoption—to stay relevant with these shifts in consumer preferences.
Our relationship with Autonomy is at the core of these radical shifts in the industry, providing our car shopping audience with a completely digital and affordable way to get access to a Tesla Model 3.”
Jared Rowe, the CEO of AutoWeb
This is an interesting move for the company and one that should remain relevant as more consumers switch to electric. With that in mind, does AUTO stock deserve a place on your penny stocks watchlist?
Gaotu Techedu Inc. (NYSE: GOTU)
With 5.9% in positive gains by EOD on January 20th, GOTU stock has climbed by over 20% in the last five days. This is a major bullish turn from its 80% loss streak over the last six months. Gaotu and other Chinese education penny stocks have had a tough time performing in the last few months.
As the result of China cracking down on for-profit education companies, Gaotu has had to completely shift its business model. Now, the company states that in order to remain in business, it will move to live-streaming e-commerce, as well as the sale of agricultural products online. The CEO of Gaotu, You Minhong, states that he has a responsibility to the 50,000 employees that remain, and therefore, he wants to find a way to stay in business.
Considering that, there is still a long way to go for GOTU to be even close to profitable. But, the company continues to make strides in the right direction. While it will take some time for it to get back on track, investors hope that it can moving forward. Considering this, do you think that GOTU stock is worth watching or not?
Which Penny Stocks Are on Your Watchlist Right Now
If you’re making a list of penny stocks to watch, there are hundreds to choose from. However, understanding exactly where to look and what to look for is a crucial step in making money with penny stocks. In the past few trading days, we’ve seen the stock market be extremely volatile. This is a side effect of the pandemic, economic uncertainty in the U.S., geopolitical problems, and other factors.
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But, to understand how to profit from penny stocks, investors need to have a consistent understanding of how these factors will play into the market. In addition, it will always be prudent to have a consistent and well thought out trading strategy. This will always be your best bet in taking advantage of the current state of the stock market. So, with all of this in mind, which penny stocks are on your watchlist right now?
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