Five Trending Penny Stocks You Should Add to Your Watchlist Now
Investors are showing optimism after a volatile week of trading penny stocks. We saw record highs in Bitcoin and the S&P 500 last week, proving just how positive the stock market is right now.
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We are also experiencing unprecedented levels of volatility, which has resulted in large intraday swings both ways. External factors include extremely bullish buying spikes in small-cap stocks such as the newly-dubbed Trump Stock and Digital World Acquisition Corp. (NASDAQ :DWAC). The 1,000+% increase last week eventually woke up the wider small-cap space, and we saw many penny stocks surge into the closing of the week. We can look ahead to see what is happening in the world so we can understand where the opportunities might be heading into October's final week.
We saw many cryptocurrency and blockchain penny stocks rise in value after Bitcoin reached a record $67000 on Robinhood platforms. This is an obvious example, and it shows cause and effect perfectly.
Continue reading: 6 Best Penny Stocks to Watch as Bitcoin Price Hits All Time High
We tend to see penny stocks as more speculative than blue chips. Because of their low prices, high volatility and willingness to change in price, this is a common phenomenon. Investors must be as informed as possible about the stock market and any developments.
Trader news is not only about the company, but also what is happening in the overall industry. This will give traders a solid foundation on which to invest. Let's take a look at five penny stocks that are hot right now, based on all this.
Trending Penny Stocks To Buy [or avoid]
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd., an oil and gas company, focuses on deepwater exploration. The company is actively searching along the Atlantic Margins, in places such as offshore Ghana, Equatorial Guidance, and the U.S. Gulf of Mexico. Kosmos also has a property for gas development in Mauritania, Senegal. Kosmos also has a well-established basin exploration program, which is currently in operation.
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The company purchased an 18% additional interest in Jubilee and 11% additional interest in the TEN field in Ghana from Occidental Petroleum on October 13th. The purchase price for all other interests was $550million. The acquisitions significantly improve Kosmos' five-year plan. These additional Ghana interests are expected to produce an incremental $1 billion in free cash flow before 2026.
This is a significant transaction for Kosmos. It accelerates our strategic delivery. It is expected to provide long term sustainable cash flow from areas where we have a deep understanding about the value.
KOS stock has seen a significant increase in trading volume since the announcement. Its volume is also significantly higher than its average for the past few trading day. Keep this in mind when deciding if KOS should be included on your watch list for penny stocks.
Cyclerion Therapeutics Inc.
Cyclerion Therapeutics Inc., a biotech penny stock, has seen its price rise in recent trading sessions. This company develops medicines to treat serious central nervous system disorders. These products are developed, commercialized, and developed by Cyclerion. One of these products is CY6463, which is currently in Phase 2 trials for treatment of mitochondrial encephalomyopathy and stroke-like episodes.
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The company published a publication on September 22nd demonstrating the effectiveness of small-molecule soluble Guanylate Cyclose Simulator. In multiple preclinical models, it reduced neuroinflammation markers. Neuroinflammation plays a major role in many neurodegenerative diseases, such as Alzheimer's.
Preclinical and clinical data support the development of CY6463/CY3018 brain-penetrant sGC stimulations. Administration of CY6463 has been demonstrated to have positive clinical effects on multiple brain neurophysiology measures.
CYCNs volume is almost four times that of the market average over the past few days. This shows how popular CYCN stock right now and its trending nature. This information will help you decide if CYCN is worth adding to your watch list for penny stocks.
Gaotu Techedu Inc. (NYSE: GOTU)
Gaotu Techedu Inc. was one of many Chinese educational stocks that moved in the past week. Gaotu provides K-12 tutoring services for the country. These K-12 services offer math, English and chemistry as well as biology, Chinese and other subjects. It offers professional courses, English test prep, qualification exams, and foreign language classes.
The company published its second quarter financial results for 2021 on September 21st. The company's revenue increased 35.3% year-over-year to RMB2,232.3 millions. Gross billings increased 12.2% year-over-year to RMB2,694.7 millions. Gaotus' paid course enrollments were 4.1% higher than the previous year.
Gaotus' first startup attempt is in 2014. 2016 is our second try. 2021, we can say, is our third start. It is important to keep education as our goal and believe that education should be a noble profession. It is clear that we believe in the bright future for the Chinese education sector.
Over the last week, we have seen GOTU stock move up by double-digit percentage points on several days. This is a reminder to ask: Is GOTU on you penny stock watchlist?
Color Star Technology Co., Ltd. (NASDAQ:CSCW).
Traders are focusing on tech penny stocks this quarter. As a whole, the sector is seeing strong recovery towards year-end. Every sector, from entertainment to information technology, has seen a rise in profits. In the case of Color Star Technology, its entertainment-focused model continues attracting attention in the stock market.
Read more: Best Penny Stocks To Buy Now? Three Things To Do At the End of October
Color Star has been working on a new focus on artificial intelligence and its role in tech. It is currently working on a metaverse project, which encompasses virtual reality entertainment such as concerts, and an active platform to exchange non-fungible tokens. The metaverse project also includes shopping. The company's Color Star app allows users to access entertainment, virtual gaming, social networking and interact with celebrities via their avatars in metaverse.
Companies like Color Star have been working to blend online and offline realities since the pandemic. They use entertainment as a way to achieve this.
Inpixon (NASDAQ :INPX).
Inpixon, which focuses on virtual and augmented reality stocks, has attracted some attention over the weekend. The company is known for its Indoor Intelligence platform. It is used to map, position, and help create secure and smart environments. Although its location awareness technology has been used in government settings, it could be useful for civilian applications.
Inpixon and Ostendo Technology, Inc., which develops quantum photonics, and micro-display technology, announced a joint initiative last week. In addition to a current Strategic Collaboration and Cross-Marketing Agreement, the two companies will provide the City of Miami Beachs Washington Avenue Business Improvement District with an augmented-reality-enabled mobile ExperienceApp.
The app supports integrated use of Ostendos AR Smart Glasses for a period of two years. Inpixon CEO Nadir Ali stated that Inpixons ExperienceApp is built on the CXApp mobile platform. It will include mapping, positioning and analytics and AR. This will deliver an exceptional user experience, which will be productive, intelligent, simple to use and can be viewed through Ostendo AR glasses.
It will be interesting to see how INPX stocks begin the week with Friday's post-market action surge.
Are Penny Stocks Still a Good Investment?
There is plenty of momentum in stock markets, but investors must choose wisely to maximize their chances of making money with penny stocks. Investors should understand why this momentum exists and how they can use it to their advantage.
[Read more] What are the Top Penny Stocks You Should Buy Next Month? These are the 3 best penny stocks to buy next month.
Blue chips and penny stocks are being impacted by many factors right now. It is best to focus on one part of the market and break it down. Do you believe penny stocks will continue to rise this year?
