Why These 9 Penny Stocks Might Be Worth Adding to the Watchlist
The market for penny stocks and blue chips is heating up right now. This is marked by a high volume of transactions and a large number of significant gains observed in all areas. For example, Audia Inc. is a broadcasting company that has climbed over 145% in the last month alone. Another example is BSQR stock, which rose about 90% in pre-market trading on June 29.
While gains like these occur with penny stocks regularly, they have been sparse in recent months. This is due to both the uncertainty surrounding the pandemic and a general market correction following the major bullish sentiment seen earlier in the year. But, now that things seem to be getting back on track, we might see more bulls coming in to try and find value in the market. And with the recent surge in AMC stocks, more and more investors are focusing on finding value stocks right now than in recent weeks.
As always, do your own research on each business that piques your interest. This will help to avoid any unexpected loss in your wallet. Considering this, let’s take a look at nine penny stocks that investors are watching right now.
5 Penny Stocks For Your 2021 Watch List
- Luokung Technology Corp. (NASDAQ: LKCO)
- Enveric Biosciences Inc. (NASDAQ: ENVB)
- Uranium Energy Corp. (NYSE: UEC)
- MICT Inc. (NASDAQ: MICT)
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a technology penny stock which we have discussed many times over the past few months. It is a company that provides location and mobile application products to long distance travelers in China. The Luokuang mobile app offered by the company serves as a content and service distribution platform. This app offers services such as entertainment, e-commerce, travel information and much more. It also offers software development kits and application programming interfaces.
On June 28, Luokung announced the signing of an autonomous driving data services contract. With this, it hopes to become one of the leading service providers for autonomous driving related products in China and potentially internationally.
“We believe that these recent signings of service contracts reflect our position in this market, and we are very pleased to partner with another reputable and influential company in the automotive industry. We believe these partnerships validate the strength of Luokung’s technological advantages and confirm our position as the preferred provider of data services in China in areas such as autonomous driving. ”
LKCO CEO and Chairman Mr. Xuesong Song
This recent advance has pushed LKCO shares up more than 6% in the market. With this in mind, will you be adding LKCO to your list of penny stocks to watch this week?
Enveric Biosciences Inc. (NASDAQ: ENVB)
Biotech stocks like Enveric Biosciences Inc. have done very well in the market lately. ENVB is specifically a patient-focused biotechnology company developing new cannabinoid drugs. These drugs are created to improve the quality of life of cancer patients. Initial indications include radiodermatitis, which is a common and serious side effect of radiation therapy, as well as treatment of chemotherapy-induced neuropathy.
In May, the company released its first quarter financial results, which were greeted with enthusiasm by investors. In the results, Chief Executive Officer David Johnson said: “As we approach the second half of this year, we expect to receive approval and launch two critical Phase I / II trials in glioblastoma multiforme and radiation dermatitis. At the same time, we opportunistically continue to evaluate strategic investments similar to our Diverse Biotech license for five molecules, an exclusive supply agreement with PureForm and other undervalued synergistic investments. “
In addition to this recent information, Enveric has just presented at several investor and industry conferences. This includes the Benzinga Capital Conference, LD Micro Invitational XI Conference, Emerging Growth Conference, HC Wainwright: Psychedelics in Psychiatry and Beyond Conference, Bio Digital Conference, and the Psychedelic Opportunity Summit. Throughout 2021, the business has had its ups and downs. But on June 28, the company’s stock price was up 11%. With that in mind, will ENVB be on your watchlist this month?
Uranium Energy Corp. (NYSE: UEC)
Uranium Energy Corp. is a penny stock mining which is working well in the market right now. UEC operates as a mining company that explores, extracts and processes uranium and titanium concentrates. The company owns a stake in the Palagana, Goliad, Burke Hollow, Anderson mine and many other leading mining projects around the world.
Recently, the company announced that it is currently leading the mining of ISR uranium. On June 9, the company filed its report for the third quarter of fiscal 2021. In the report, it says it holds $ 123.4 million in cash, stocks and physical assets. This includes a stock of uranium of $ 26.2 million, $ 47.9 million in cash and 14 million shares of Uranium Royalty Corp. with a market value of $ 49.3 million.
It is important to consider that UEC stocks often move in parallel with the price of uranium and titanium. So, despite the lack of recent company-specific news, Uranium Energy Corp. can fluctuate significantly in the market. It can also cause some volatility, which is often an advantage for investors in penny stocks. So, will UEC be on your list of penny stocks to watch?
MICT inc. (NASDAQ: MICT)
MICT Inc. is a technology investment company that designs, develops, manufactures and sells mobile computing devices and software for fleet operators and the field workforce. The company also offers online stock trading and brokerage services. And, if all that is not enough, it also sells insurance products through a proprietary trading technology platform as well as online investment and wealth management services.
On June 7, MICT’s board of directors approved a $ 60 million capital injection into its wholly owned subsidiary Magpie Securities. This capital will be used to operate and develop its online equity trading platform from Hong Kong. The first $ 30 million will be in equity and the next $ 30 million in the form of an intercompany subordinated loan.
MICT CEO Darren Mercer said, “With the upcoming launch of our mobile equity trading app, the $ 60 million investment in Magpie will properly capitalize the company to support our ambitious growth plans and deliver the ability to offer competitive margin and IPO funding to our underlying clients. ”With that in mind, MICT stock may be worth watching at this time.
Ebang International Holdings Inc. (NASDAQ: EBON)
Ebang International Holdings Inc. is another technology exchange that researches, designs and develops application specific integrated circuit chips. In addition to this activity, Ebang manufactures Bitcoin mining machines. It also offers mining machine hosting services, which allow customers to operate mining machines remotely.
The world of crypto has been at the forefront of the media in 2021. With things like Bitcoin, DogeCoin, NFT, and many others all seeing huge gains at times, blockchain technology is currently the focus. of a lot of attention. Amidst all of this hype, Ebang saw a lot of bullish sentiment.
Often times, the EBON share price will move with the crypto market. So when Bitcoin and other cryptocurrencies are going down, it could push the EBON share price down. This is illustrated by the peaks EBON experienced as Bitcoin prices rose rapidly. On June 28, EBON shares were up 4% on the market. With that in mind, is EBON a candidate for your list of penny stocks to watch in July 2021?
4 More Penny Stocks To Watch Out For
- Exela Technologies Inc. (NASDAQ: XELA)
- BSQUARE Corp. (NASDAQ: BSQR)
- VBI Vaccines Inc. (NASDAQ: VBIV)
- Audia Inc. (NASDAQ: AUUD)
Will the Penny Stocks market continue to heat up?
While trading over the past few weeks has been much better than the previous months, there are some sobering factors to consider. This includes in the first place the rise of the Delta variant of Covid.
Current vaccines show high efficacy rates against this variant, but some investors fear the uncertainty that led to bearish trading a few months ago. Despite this, many scientists say we won’t see a skyrocketing increase in cases like we did earlier in the year. But, this is an important factor to consider. As we approach the end of the year, will the penny equity market continue to heat up?
COMTEX_389097689 / 2685 / 2021-06-29T09: 13: 40
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