Penny stock ideas

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Hot Penny Stocks

This page provides a list of penny stocks (those trading between .0001 and 5.00) sorted by the highest 5-day percent change. These high-volatility stocks have a 5-day average volume greater than the 20-day average volume, and with yesterday's trading volume greater than 1,000,000 shares.

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Top Penny Stocks to Watch: Key Takeaways

  • Clean Vision Corp. is up on a patent filing and an article calling it “one of the most promising sustainable stocks to buy.”
  • Cuba Beverage Company has all the makings of a classic pump.
  • Metal Arts Co., Inc. spiked 630% on change of control news.

Be grateful that OTCs are hot again, but please don’t trust penny stock promoters. Blatant pumps lead to blown-up accounts every time. Ride the hype, but don’t believe it.

  1. Clean Vision Corp. (OTCPK: CLNV … read my analysis here)
  2. Cuba Beverage Company (OTCPK: CUBV … read my analysis here)
  3. Lightwave Logic Inc. (NASDAQ: LWLG … read my analysis here)
  4. Metal Arts Co., Inc. (OTCPK: MTRT … read my analysis here)
  5. Gex Management Inc. (OTCPK: GXXM … read my analysis here)

Miss My NO-COST Weekend Profits Webinar? Watch The Replay Here.

Here’s the list of top penny stocks to watch in September 2021…

Table of Contents

Top 5 Penny Stocks to Watch September 2021

Clean Vision Corp. (OTCPK: CLNV)

Clean Vision Corp. is a holding company that acquires and runs companies in the clean tech and energy sectors.

On August 24, subsidiary Clean-Seas filed a patent for its blockchain-based Plastic Conversion Network (PCN).

Clean Vision CEO Dan Bates said, “The PCN was created to solve a global problem. We recognize that these millions of tons of waste plastic have a high caloric (energy) content and can produce high-value, environmentally friendly commodities […] Using the blockchain to manage and load balance the network, we improve transparency, efficiency and operational costs, driving down the cost of processing and further increasing our profitability.”

Read the full press release here.

This August 26 article said CLNV “may be one of the most promising sustainable stocks to buy.”

Check out the CLNV one-year chart…

As you can see, CLNV is way off its 52-week high of $0.228. But the patent news and article, along with higher than average volume, spiked it 240% in four days. I’m watching for potential dip buys into any big intraday panic.

Cuba Beverage Company (OTCPK: CUBV)

Cuba Beverage Company is a shell company with no operations. But it does have Twitter on fire. The company started tweeting about potential merger candidates in July. It also tweeted it was negotiating with a lithium-extraction company.

An August 27 tweet linked to California-based lithium extraction company Lilac Solutions, Inc. And an August 31 tweet said, “We’re driving out to the Salton Sea today for inspection.” (Lilac Solutions has been linked with the Salton Sea and an investment by Bill Gates.)

Before you believe the hype, a little perspective…

Cuba Beverage Company has a history of name and business description changes. (See them here on the company’s OTC Markets profile page.) It has one full-time employee and zero revenue

I won’t try to predict whether a merger will happen or not. Just remember, 99% of OTC companies fail.

Here’s the CUBV one-year chart…

CUBV spiked 44% in 15 minutes after the Salton Sea tweet. It hit a 52-week high of $0.043 before pulling back. I’m watching for potential dip buys into any big morning panic. But I’ll also watch for more spiking with volume and, ideally, a news catalyst.

I traded CUBV on August 27 and 31 thanks to StocksToTrade’s Breaking News Chat.** The most recent was a $542 win after the company tweet. See details of all my CUBV trades here.*

Lightwave Logic Inc. (NASDAQ: LWLG)

Lightwave Logic also featured on my top penny stocks list and weekly update. The company is developing electro-optic photonic devices using organic polymers. Think faster data transmission. Hopefully, it leads to faster Wi-Fi. (I’m always in search of faster Wi-Fi.)

LWLG gained roughly 25% on August 27 news that the company is uplisting to the Nasdaq today. It gained another 16% on Monday.

Here’s the LWLG one-year chart…

LWLG is a classic example of my 7-step framework. It went full supernova in late June. Since then it’s done a #4, #5, and #6. You can learn a lot from it. Study the chart and read this post, especially if you missed it.

I’m watching LWLG for potential dip buys into any big morning panic. Once it starts trading on the Nasdaq, it will be available to more traders/investors. And that means it will trade differently. The question is, how will the market view the uplisting?

Metal Arts Co., Inc. (OTCPK: MTRT)

Metal Arts is a shell company. In the past, it was in the metal fabrication business.

On August 30, the company announced a change in control and new management…

“[…] as a result of a private sale of 7,665,000 shares of common stock of MTRT, control of MTRT passed to Medium, Inc., a company incorporated under the laws of South Korea.

A new board of directors of MTRT, consisting of Messrs. Pan Jong Kim, Kiwoon Biak, and Yunho Chung, were appointed.”

Read the full press release here.

Check out the MTRT one-year chart…

MTRT spiked 630% on August 30 before pulling back to close up 348%. On August 31, it hit a new 52-week high of $1.19. Thanks to a StocksToTrade Breaking News alert I traded it for a $774 win on August 31.*

I’m watching MTRT for potential dip buys into any big panic, ideally at the open. I’ll also watch to see how the change of control plays out with Twitter promoters. Again, ride the hype but don’t believe it.

Gex Management Inc. (OTCPK: GXXM)

Gex Management Inc. is a business management services provider.

At the time of writing, GXXM is up 900% in August. It hit a six-month high of 10 cents per share on August 30 before pulling back. The most recent news is the company’s 10-Q quarterly report filed on August 23.

Check out the GXXM 100-day chart below

GXXM is relatively thinly traded. It needs more volume, ideally with a solid news catalyst. I’m watching for potential dip buys into any big panic. But I’d like to see it trend higher and pick up momentum first.

That’s it for the best penny stocks to watch for September 2021. Here are some tips on choosing stocks for your watchlist. Also, some answers to frequently asked questions…

How to Use This Penny Stocks Watch List

how to use this penny stock watchlist

Keep in mind that my strategies involve trading some of the fastest moving, most volatile stocks in the entire market. That said, some of the stocks on this list could be completely out of play by the time you read this. (Yes, even after only one day, stocks sometimes leave my list.)

The point is … don’t use this list as a signal to buy any stock. I don’t put stocks on my watchlist based on fundamentals. It’s not that I don’t look at fundamentals. But I’m not gonna lie to you. (Like so many other ‘top penny stocks to watch’ articles.) I won’t tell you to buy and hold a stock because “the market is undervaluing this stock.”

Frankly, that kind of thinking with penny stocks is … total BS. Most penny stocks fail. Just like most traders — roughly 90% — lose. So use this list — and each of my monthly penny stocks to watch lists — as a tool for learning to create your own watchlist.

Can You Trade Penny Stocks?

If you’re brand new to penny stocks a great place to start is with my FREE penny stock guide.

Once you go through the entire guide, I suggest you read “The Complete Penny Stock Course” written by my student Jamil (I wrote the forward). That book answers so many of the most frequently asked questions that it blows my mind more people haven’t read it.

With the internet and online brokers, you can trade penny stocks from anywhere in the world. As far as the basic requirements, you only need a decent laptop, solid Wi-Fi, and a trading account. But don’t be fooled into thinking you’re gonna succeed if you jump right in.

Why?

Because 90%+ of traders lose. So be willing to invest in your education — because if you don’t, the market will make you pay a much higher price

Now for five tips on how to choose the best penny stocks to watch…

5 Tips on How to Choose the Best Penny Stocks to Watch

Tip #1: Look for Big Percent Gainers

My method of choosing which penny stocks to watch always starts here. At the end of every day — and again in premarket — I look for the biggest percent gainers. And that’s what I focus on. I’m not interested in stocks that aren’t on the move.

I use StocksToTrade stock scanning software. With 40+ built-in scans — some created specifically for my strategies — it’s amazing right out of the gate. Yes, you can also create custom scans. (Hint: when you start using the software there’s a bunch of training videos on how to set those up. Take advantage.)

Tip #2: Look for Big Volume

The next thing to look for when choosing the best penny stocks to watch is trading volume. Sometimes a stock makes a big percent gain, but the trading volume is so low it doesn’t make sense to trade it. One of the top penny stocks to watch this month, Rivex Technology, is tough to trade because the volume is so low.

So after I find the big percent gainers, I organize them according to trading volume. Be aware of dollar volume traded, too. If you have a true penny stock trading at 2 cents a share, and it trades one million shares, that’s still only $20K. You have to be meticulous.

Tip #3: Look for a News Catalyst

The next thing I look for when choosing penny stocks to watch is what’s making it move? Is there a press release announcing a new contract? What about positive earnings? In biotech and pharma penny stocks you might see news of test results. Read this post to learn more about catalysts.

(Also read chapter II.7 Understanding Catalysts in “The Complete Penny Stock Course.” If you already have the book … it starts on page 183. If you don’t have it … get it now.)

supernova placement

Tip #4: Look at the Long-Term Chart

When you’re trying to find the best penny stocks to watch, it’s easy to get fooled by one-day or one-time spikers. So look at long-term charts to see if the stock has a history of multi-day runs or has gone supernova in the past.

Which long-term charts? As many as you have time for, really. But at the very least, look at the one-year chart. I like to look back a couple of years depending on the stock and the news. If the stock trades a certain way when the company announces a big contract, I want to know.

This might sound a little strange if you’re new to penny stocks. But if you want to understand which penny stocks to watch, one of the best ways is to see what others are watching. Or, more accurately, hyping.

Yes, Twitter has become a vehicle for influence with stock traders. Want to know which penny stocks are being heavily shorted because they’re up 50%? Check out Twitter. Use StocksToTrade because the scanner is built-in. All you have to do is open the Twitter scanner and, voila, you get a running feed of stock tweets. And you can customize the feed if you like.

Frequently Asked Questions About Penny Stocks

frequently asked questions about penny stocks to watch

I get a lot of questions from students. Thing is, my students already accept that penny stocks provide a massive opportunity. And they’re studying to learn the strategies and rules.

But there are a lot of misconceptions about penny stocks. And I want to address a few of those now…

What Are Penny Stocks?

Penny stocks trade for $5 or less per share. These are the stocks of micro- and nano-cap companies. Many trade on the OTC markets, but you can find many penny stocks on the big exchanges like the NYSE and Nasdaq.

Are Penny Stocks Worth it?

Penny stocks are suitable as trading vehicles but not long-term investments. Most penny stock companies eventually fail.

Are Penny Stocks Dangerous?

All trading involves risk. If you are willing to learn appropriate patterns, rules, and strategies, penny stocks are no more dangerous than other trading instruments.

How to Watch Penny Stocks?

1.) Focus on big percent gainers. 2.) Look for high volume 3.) Search for a news catalyst 4.) Look for a history of spikeability on the long term chart. 5. Use a scanner like StocksToTrade. (StocksToTrade was designed for penny stocks.)

If Most Penny Stock Companies Fail, Why Not Just Short Sell?

Because it’s a very dangerous, overcrowded game right now. The level of risk so many moron newbie short sellers take these days is unconscionable. It’s completely crazy.

Of course, you can be successful as a short-seller. Many of my top students focus on short selling and I’ve personally made millions from short selling. But the number of messages I get almost daily from short-sellers getting caught in short squeezes is … scary.

How Much Money Do I Need to Get Started?

I’m going to say, again, invest in your education first. It doesn’t take a huge amount of money to get started trading. Different brokers have different account minimum requirements. (I use these brokers and avoid offshore brokers altogether.)

But the market will make you pay more if you aren’t prepared. Preparation is key. The stock market is a battlefield, so arm yourself accordingly. Keep in mind that my top students all studied hard over time to get consistently profitable. Tim Grittani — arguably the best penny stock trader in the world — didn’t make anything for nine months.

So before you fund a trading account, fund your knowledge account. If you’re not quite ready for the Trading Challenge, try Pennystocking Silver. It gives you access to more than 6,000 video lessons. (You also get access as a Trading Challenge student, of course.)

Conclusion

conclusion about penny stocks to watch

Your goal as a trader is to become self-sufficient. And my goal is to be the mentor to you that I never had. So I hope you’ll take this list of the best penny stocks to watch in September 2021 and use it as a learning tool.

👉🏼SUBSCRIBE to my FREE weekly stock watchlist here.

Focus on the process. The best way to learn which penny stocks to watch is to make a daily watchlist yourself. Follow the five tips above. It doesn’t matter if every stock on your list is not perfect. Or doesn’t play out the way you thought. You get better by making your daily watchlist and then seeing what happened during the trading day.

watchlist banner

Remember…

… this list of penny stocks to watch is NOT a recommendation to buy penny stocks. Also, my results are not typical and I’ve developed exceptional skills over two decades of trading.

What do you think of the top penny stocks to watch in the September 2021 watchlist? Comment below, I love to hear from all my readers!

Disclaimer:

*​​Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work.  Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed are exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable. 

**Tim Sykes has a minority ownership stake in StocksToTrade.com.

Sours: https://www.timothysykes.com/blog/penny-stocks-to-watch/
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Penny stocks are super high-risk investments that aren't suitable for all investors. Then practice what you've learned with our free stock market simulation.

Here are some penny stocks to keep an eye on:

SymbolCompany
VTVTvTv Therapeutics Inc.
AXSMAxsome Therapeutics Inc.
ALQAAlliqua Biomedical Inc.
ADILAdial Pharmaceuticals Inc.
BTAIBioXcel Therapeutics Inc.


Penny stocks can also be called micro-cap stocks. While the latter are categorized based on their   market capitalization, penny stocks are classified as such based on their price. A stock with a market cap between $50 and $300 million is generally considered a micro-cap. The SEC defines any stock under $5 as a penny stock.

WHAT ARE PENNY STOCKS?

Because these stocks are traded over-the-counter, there are a few added risks to consider.

They are not as liquid

Because there is a much more limited number of buyers and sellers in the OTCBB, penny stocks just aren’t as liquid. One way to remedy that is to sign up for a penny-stock service which will make finding trades much easier.

Less available information

There is much  less information  readily available for stocks traded OTC. It’s harder to make an informed decision about a company about which you know very little.

Manipulation

Penny stocks can be verily easily manipulated, sometimes illegally, to drive their prices up. These stocks attract many solicitors and scammers who trick unaware investors and make a lot of money doing so.

HOW TO INVEST IN PENNY STOCKS

Penny stock market

Penny stocks’ low prices mean that they are super volatile investments. Just a small change in the stock price would have a huge effect overall. This is both the allure  and danger of penny stocks:  High Risk, High Return . A risk-taker would be enticed to buy a huge volume of shares of a cheap stock in hopes of winning big if that price goes up a bit. This is usually the plan when buying penny stocks. Investors will scoop up tens of thousands, hundreds of thousands, even millions of shares of a stock that sells for very little per share. The idea is to get in quick and cheap, and get out fast and flush.

Many OTCBB companies are working crazy hard to climb their way up to the Nasdaq and NYSE status. Some companies on the OTCBB might be good quality, but penny stocks are just very high-risk investments and they aren't suitable for all investors. If you can't resist the lure of these micro cap stocks, at least make sure you do extensive research.

Where to Buy Penny Stocks

Penny stocks are often not traded on any major stock exchanges. Though the NYSE, NASDAQ and AMEX are home to some of the more established penny stock companies , they’re usually traded  over-the-counter  on the OTC Bulletin Board (OTCBB) and pink sheets.

HOW TO FIND THE BEST PENNY STOCKS TO BUY

Penny Stock Software and Tools

Here are some super helpful tools to use when buying penny stocks:

Penny Stock Tips

  1. Ignore penny stock success stories that are touted on social media websites.
  2. Sell quickly .
  3. Focus only on penny stocks with high volume (at least 100,000 shares a day)
  4. Don’t fall in love with a stock!!!

MOTLEY FOOL ALERT HOT STOCK ALERT

*** 9:08 AM ET SEPTEMBER 1, 2020 ALERT: ZOOM VIDEO (TICKER:ZM is up $124 or 38% to $448 in early trading this morning due to a fantastic earnings release. ***

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The Motley Fool has been hot on the stock for a year now recommending it July 3, 2019 when it was at $90; then again Oct 3, 2019 when it was at $76; then again during COVID on March 19, 2020 when it was at $123 and finally again on April 156, 2020 when it was at $150. So now it is at $448.  THAT  is exactly how they get their incredible returns year after year.

Learn more about the Motley Fool Stock Advisor service and how you can get their picks for just $19.
Sours: https://www.wallstreetsurvivor.com/investing-ideas/penny-stocks/
3 PENNY STOCKS UNDER $1 [October Watch List]

In this article, we discuss the 15 best penny stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best Penny Stocks to Buy Now.

Retail investors who do not have the billions of dollars that institutional investors have access to often look towards penny stocks as an entry into the world of investing. This strategy often proves to be fruitful since research on small companies and the growth potential they offer is a tried and tested way of understanding how the market functions. Although it is not often that penny stocks lead investors to the next Amazon.com, Inc. (NASDAQ: AMZN) or Facebook, Inc. (NASDAQ: FB), they do offer the chance for short-term handsome returns owing to their volatility.

To put this into perspective, consider how market giants like GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA) were all in the penny stock range not too long ago. These stocks have gained 3,277%, 590%, 54%, 3,043% over the past twelve months, respectively, representing the explosive growth potential that good penny stocks can offer to those investors who are willing to take the time to analyze small companies.

Some of the best penny stocks to buy now include Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), among others discussed in detail below. According to news platform CNBC, the explosion in stock volumes over the past two years has also helped push penny stocks higher. A CNBCreport from January 2021 highlighted how the average daily volume of the market has gone up from 7 billion in 2019, to almost 11 billion in 2020, and stood at over 14 billion at the beginning of 2021.

The influx of retail investors and the equities they favor have had a huge impact on the overall market dynamics. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Photo by Kaleidico on Unsplash

Our Methodology

With this context in mind, here is our list of the 15 best penny stocks to buy now. We chose stocks of companies working on products and services having long-term growth potential.

We also took into account analyst ratings and research reports to gauge market sentiment for these stocks. These stocks were ranked according to the number of hedge fund holders in each stock. Even though hedge funds are not big fans of penny stocks, data of 873 hedge funds tracked by Insider Monkey was used to gauge hedge fund sentiment around each company.

All the stocks mentioned below have a share price below $5.

Best Penny Stocks to Buy Now

15. PowerBand Solutions Inc. (OTC: PWWBF)

Number of Hedge Fund Holders: N/A

PowerBand Solutions Inc. (OTC: PWWBF) is a technology company that markets software and financing solutions. It is placed fifteenth on our list of 15 best penny stocks to buy now. The firm is based in Canada and primarily serves the automotive industry. In earnings results for the first half of the fiscal year, posted on August 18, the company reported a revenue of $7.6 million, up more than 645% compared to the revenue over the same period last year. It has a market cap of $138 million and posted $2.3 million in revenue in 2020.

Some of the products marketed by PowerBand Solutions Inc. (OTC: PWWBF) include LiveNet Auction, Marketplace Auction, Dynamic Appraisal, PowerDesk, IntellaCar, and DRIVRZLane, among others. It is headquartered in Burlington.

On July 12, PowerBand Solutions Inc. (OTC: PWWBF) reported a 31% increase in June gross revenue. The growth was attributed to the increase in lease originations that grew from just 69 in late 2020 to over 216 in the next six months.

Just like Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), PowerBand Solutions Inc. (OTC: PWWBF) is one of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA).

14. HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT)

Number of Hedge Fund Holders: N/A

HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) is ranked fourteenth on our list of 15 best penny stocks to buy now. The company operates from Canada and engages in cryptocurrency mining operations. It was founded in 1987 as Leeta Gold Corp but changed the name to HIVE Technologies in 2017 to concentrate on crypto mining. On August 13, the firm announced that it had ordered 1,800 Antminer S19j Pro miners from Bitmain Technologies as part of a plan to upgrade mining equipment. The share price surged 6.4% after the announcement.

On July 30, HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) announced that it had achieved an annual run rate of $200 million based on the current prices of Bitcoin and Ethereum. The firm also revealed the purchase of 4,000 miners for the purpose.

HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) has a market cap of $1 billion and posted close to $30 million in revenue last year. The shares were approved for listing on the NASDAQ exchange in June this year.

13. Verb Technology Company, Inc. (NASDAQ: VERB)

Number of hedge fund holders: 3

Verb Technology Company, Inc. (NASDAQ: VERB) is placed thirteenth on our list of 15 best penny stocks to buy now. It is a Utah-based software firm. The company is one of the most mentioned stocks on Reddit forums. From June to July 15, the stock registered an incredible 160% rally before taking a breather in the coming weeks.

On July 23, investment advisory Alliance Global reiterated a Buy rating on Verb Technology Company, Inc. (NASDAQ: VERB) stock and raised the price target to $4 from $2.75, underlining that the firm was over the development stage and now entering monetization phase.

At the end of the second quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $710,000 million in Verb Technology Company, Inc. (NASDAQ: VERB), the same as in the previous quarter worth $195,000.

12. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)

Number of Hedge Fund Holders: 6

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) is Greece-based international shipping company. It is ranked twelfth on our list of 15 best penny stocks to buy now. It operates a fleet of 11 Capesize vessels. On August 11, the share price of the firm soared by more than 3% after the board announced plans for a share repurchase worth $17 million. The firm has a market cap of $183 million and posted $63 million in revenue last year. The firm primarily engages in the transportation of iron ore and coal.

In March, investment advisory Noble Capital upgraded Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) stock to Outperform from Market Perform with a price target of $1.50, noting that the pullback in share price of the firm was an attractive buying opportunity.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $3.9 million in Seanergy Maritime Holdings Corp. (NASDAQ: SHIP), up from 3 in the previous quarter worth $2.1 million.

11. Ideanomics, Inc. (NASDAQ: IDEX)

Number of Hedge Fund Holders: 6

Price as of August 13, 2021: $2.40

Ideanomics, Inc. (NASDAQ: IDEX) is a New York-based company that concentrates on providing fintech services for the adoption of electric vehicles. It is placed eleventh on our list of 15 best penny stocks to buy now. In earnings results for the second quarter, posted on August 16, the company reported a revenue of more than $33 million, up 606% compared to the revenue over the same period last year and beating market estimates by $2.2 million. The gross profit over the period was $9.3 million, representing a gross margin of 28%.

In April, investment advisory Roth Capital assumed coverage of Ideanomics, Inc. (NASDAQ: IDEX) stock with a Buy rating and a price target of $7, highlighting that the firm was targeting emerging opportunities in the electric vehicle space.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $34 million in Ideanomics, Inc. (NASDAQ: IDEX), down from 7 in the preceding quarter worth $20 million.

In addition to Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ), Ideanomics, Inc. (NASDAQ: IDEX) is one of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA).

10. Electrameccanica Vehicles Corp. (NASDAQ: SOLO)

Number of Hedge Fund Holders: 7

Electrameccanica Vehicles Corp. (NASDAQ: SOLO) is ranked tenth on our list of 15 best penny stocks to buy now. The firm is based in Canada and makes and sells electric vehicles. In earnings results for the second quarter, posted on August 11, the company reported a revenue of $0.3 million, beating market predictions by $0.21 million. In late June, the company had filed for a mixed shelf offering to raise $750 million for use in sales, marketing, capital, and product development expenditures.

On May 12, Electrameccanica Vehicles Corp. (NASDAQ: SOLO) announced the start of construction on a new assembly and technical center in Arizona that is spread over 18 acres of land and includes a manufacturing plant as well.

Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in Electrameccanica Vehicles Corp. (NASDAQ: SOLO) with 1 million shares worth more than $4.7 million.

9. Exela Technologies, Inc. (NASDAQ: XELA)

Number of Hedge Fund Holders: 7

Exela Technologies, Inc. (NASDAQ: XELA) is placed ninth on our list of 15 best penny stocks to buy now. It is based in Texas and markets digital processing solutions. On August 11, the firm announced that it would be extending a strategic agreement signed with a healthcare firm that utilized the technology and operational capability of the former in a contract worth $7.5 million. The firm has a market cap of $165 million and posted more than $1.2 billion in revenue last year. The short interest on the stock is 18.9%.

On June 2, investment advisory Cantor Fitzgerald initiated coverage of Exela Technologies, Inc. (NASDAQ: XELA) stock with an Overweight rating and a price target of $4, noting the improvement in basic business fundamentals of the firm.

At the end of the second quarter of 2021, 7 hedge funds in the database of Insider Monkey held stakes worth $7.5 million in Exela Technologies, Inc. (NASDAQ: XELA), down from 8 in the previous quarter worth $10 million.

8. eMagin Corporation (NYSE: EMAN)

Number of Hedge Fund Holders: 6

eMagin Corporation (NYSE: EMAN) is a New York-based company that makes and sells products used by the virtual imaging industry. It is placed eighth on our list of 15 best penny stocks to buy now. In earnings results for the second quarter, posted on August 12, the company reported earnings per share of $0.00, beating market predictions by $0.03. The revenue over the period was $6.3 million, down close to 18% year-on-year and missing estimates by $1.4 million.

In March, investment advisory HC Wainwright maintained a Buy rating on eMagin Corporation (NYSE: EMAN) stock and raised the price target to $5 from $2, noting that the firm was well positioned for the rest of the fiscal year.

At the end of the second quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $4 million in eMagin Corporation (NYSE: EMAN), down from 9 in the preceding quarter worth $5.9 million.

Transocean Ltd. (NYSE: RIG), IAMGOLD Corporation (NYSE: IAG), and CarLotz, Inc. (NASDAQ: LOTZ) are some of the best penny stocks to buy now for those who cannot afford Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), GameStop Corp. (NYSE: GME), AMC Entertainment Holdings, Inc. (NYSE: AMC), Novavax, Inc. (NASDAQ: NVAX), and Cassava Sciences, Inc. (NASDAQ: SAVA), in addition to eMagin Corporation (NYSE: EMAN).

7. Sesen Bio, Inc. (NASDAQ: SESN)

Number of Hedge Fund Holders: 10

Sesen Bio, Inc. (NASDAQ: SESN) is a Cambridge-based biotechnology company that focuses on the development of targeted fusion protein therapies for cancer patients. It is ranked seventh on our list of 15 best penny stocks to buy now. The firm was founded in 2008. It has a market cap of $295 million and posted $11 million in revenue last year. The short interest on the stock is over 10% and the volume is 7,053,750. The company was formerly known as Eleven Biotherapeutics but changed the name in 2018.

On August 17, investment advisory Canaccord reiterated a Buy rating on Sesen Bio, Inc. (NASDAQ: SESN) stock but lowered the price target to $3 from $7, noting that the firm was expected to address concerns about a drug in a regulatory meeting soon.

At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $46 million in Sesen Bio, Inc. (NASDAQ: SESN), down from 11 in the preceding quarter worth $35 million.

6. Trivago N.V. (NASDAQ: TRVG)

Number of Hedge Fund Holders: 10

Trivago N.V. (NASDAQ: TRVG) is placed sixth on our list of 15 best penny stocks to buy now. The firm is based in Germany. It owns and operates a hotel search platform. The firm hosts information about 5 million hotels and offers access to local websites and applications in 32 different languages. In earnings results for the second quarter, posted on July 29, the firm reported a revenue of €95 million. In the corresponding period last year, the revenue had been slightly more than €16 million.

On May 5, investment advisory Mizuho maintained a Buy rating on Trivago N.V. (NASDAQ: TRVG) stock and raised the price target to $4 from $2.70, noting that an improved outlook for the firm was expected in light of lifting of travel restrictions.

At the end of the second quarter of 2021, 10 hedge funds in the database of Insider Monkey held stakes worth $67 million in Trivago N.V. (NASDAQ: TRVG), the same as in the preceding quarter worth $84 million.

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Penny Stock Trade Ideas and How to Find Them

Penny Stocks to Watch for October 2021

Last month, I talked about how to handle investment losses gracefully, reaping the hard lessons of the stock market as you re-assess your trading goals. Almost as important as coping with loss is the way you handle your successes.

If you have invested thoughtfully in a well-researched stock (or even if you've just encountered a real stroke of good luck), you may find yourself with more money than you know what to do with. This "victory lap" period can be an intensely dangerous time for investors, however. Many forget all the hard-won wisdom they've learned down the line and start throwing their money into any stock with an exciting story.

Instead of throwing caution to the wind, put even more of your time into due diligence. Trust your instincts, but stay cautious, avoid getting greedy, and keep a close eye on those fundamentals rather than the narrative a company's Investment Relations firm is selling.

Below, you'll find some updates on some intriguing and high-potential equities, as well as a few new ones I've been looking into. May they bring you even greater profits as you proceed along your investment journey.

Some of the set-ups I describe below may no longer be relevant or intact as of the time you read this article. Please conduct your own due diligence. Many stocks mentioned here were also discussed in the Peter Leeds Newsletter. Peter may own shares in some of the investments mentioned, in which case that fact will be clearly indicated. Please note that penny stocks are notoriously volatile.

First, Some Updates

BRF S.A. (BRFS)

I introduced BRF S.A. (BRFS) to readers of this column in September, and the ticker's activity since then has been nothing short of ridiculous. We're talking intense volatility here, just as I had predicted last month—but even I wasn't expecting this much of a rollercoaster. 

The good news is that the bulls seems to have wrested control away from the bears, at least for now. As of the end of September, when I was writing this update, BRFS was ultimately up 8% over the past month and 12.35% over the past week—all on the back of zero news from the company itself.

I think it's likely that we'll see more volatility from this Brazilian food company, but I remain optimistic on its prospects given strong financial ratios and still-much-cheaper valuation than its peers. In particular, if it manages to climb above the $5.20 resistance level, BRFS shareholders could see some substantial gains ahead.

Sigma Labs, Inc. (SGLB)

In contrast to BRFS, Sigma Labs, Inc. (SGLB) had a hard September, heading up to $4 by the middle of the month but then careening downward again. This resulted in an overall 7.5% drop from the time I featured the stock in this column until the last few days of the month.

Basically, investors were mildly enthused by a contract win. However, the excitement wore off, and now Sigma Labs stock is stuck at around $3.15 levels.

Despite my disappointment that its initial climb wasn't more sustainable, I believe that it's too early to give up on SGLB. The earnings per share (EPS) figures are simply too excellent to ignore (65% growth this year, 35% growth projected for next year), and the balance sheet is rock-solid.

In addition, with 80% of manufacturers purportedly looking to increase their use of 3D printing technologies, Sigma Labs could be a major winner over the next year.

Entravision Communications Corporation (EVC)

Since I included Entravision Communications Corporation (EVC) in the June 2021 edition of my "Penny Stocks to Watch" column, it's had a fantastic run from around $4.73/share to a peak of $8.11 at the beginning of September. (That's an approximately 70% theoretical profit for readers.) Even at its current price of $7.11, shareholders are looking pretty smart right now.

In my opinion, Entravision's penny stock days are likely behind it, barring some catastrophic event. Its moving averages are pointing to a "Strong Buy" signal, and its relative strenth index (RSI) has returned to normal (i.e., not overbought) levels.

One potential issue is that EVC is doing SO well—as with, for example, its consolidated adjusted EBITDA ascending 932% over the prior-year period, as of the second quarter of 2021—that it will be difficult for the stock to continue hitting this momentum.

The kind of triple-digit revenue and EPS that Entravision is seeing could turn into what Wall Street analysts call "tough comps," meaning the stock may struggle to return to its previous highs and skittish investors could consequently abandon it if/when its results grow less exciting.

While I believe it's highly possible that EVC will continue to climb by at least 20% more over the next few months or so on the back of its global expansion plans, it looks for now as if it may be taking a breather. Lower entry points may be ahead, so watch this one closely.

Some New Ones

PaySign, Inc. (PAYS)

PaySign, Inc. (PAYS) is undoubtedly one of the strangest penny stocks I've come across in my many years combing through these low-priced equities. It quite literally deals in "blood money," providing prepaid gift cards to American plasma donation centers, which subsequently use them as incentives to bring in potential donors.

The blood garnered from American donation centers is often sold to pharmaceutical companies and then used in medical treatments for hemophilia and autoimmune disorders, as well as for chemotherapy. Two-thirds of the global blood supply comes from the United States, and sales of blood plasma products come to around $25 billion per year.

In 2020, plasma donations in the U.S. dropped around 20%, and PaySign's revenue suffered given that it makes money from the fees on its prepaid cards. As of the end of 2020, the group's sales had plummeted around 30% on an annual basis. Meanwhile, the world is facing a shortage of many important plasma-based medications, without which people will most certainly die.

Even though the delta variant is still a major concern, there are many signs that PaySign's plasma business will recover in 2021 and 2022. (In fact, the company says that donations are already recovering significantly on a month-to-month basis.) The government stimulus will end or has already ended in most states; childcare has opened back up; and people who are afraid of contacting COVID are likely already double-vaccinated.

The company is therefore expecting a large resurgence of business in the third quarter of 2021 and beyond, to the tune of "a range of $29 million to $32 million, reflecting growth of 20% to 32%, and adjusted EBITDA of $350,000 to $1.9 million," per management's comments in the second quarter 2021 earnings call.

This represents tremendous upside potential for PaySign, in my opinion, and combined with a strong balance sheet and price-to-free cash flow (P/FCF) ratio of 5.04, I believe that the company is almost certainly undervalued.

Alto Ingredients, Inc. (ALTO)

Alto Ingredients, Inc. (ALTO) is a penny stock right now, but I don't expect it to stay that way for very long. Not with projected EPS growth next year at 71.54% and a forward price-to-earnings (P/E) ratio of 5.32, both of which suggest that 2022 will be an excellent year for ALTO shareholders. And not with—in my opinion—a recession-proof suite of products involving "specialty alcohols," which are used in such diverse (and in some cases essential) goods as cosmetics, cleaning products, pharmaceuticals, animal feed, pet food, and biodiesel feedstock.

Like many of its low-priced peers, ALTO is a turnaround story. Despite its large roster of blue-chip clients—with household names like Chevron, Cargill, and Procter & Gamble among them—its five-year revenue history is dispiriting.

More recently, however, the company has been pivoting from an ethanol manufacturer to a specialty alcohols producer. Its sales have subsequently shot up over the past two quarters, climbing approximately 30% and 35%, respectively.

Unfortunately, Alto Ingredients' cost of goods sold (COGS) has also increased over those periods by roughly the same percentages. I believe that this is a necessary stage in ALTO's journey toward sustainable growth, however, as the group undertakes to transition its facilities toward producing specialty alcohols.

The full fruit of its turnaround may take a few more months to appear. But once potential shareholders get a load of all of ALTO's abundant potential, I think its prices may skyrocket—and relatively soon, at that.

Best Brokers for Penny Stocks

Interactive Brokers

Interactive Brokers' very low per-share trading commission of $.005 ($1 minimum per trade) and up-to-the-split-second real-time margin calculations are ideal for penny stock traders. IBKR Lite clients can trade penny stocks for $0.

Pros
  • Low commissions, maximum 1% of trade value for IBKR Pro, $0 for IBKR Lite

  • Streaming real-time data, including account information 

  • IBot, IB’s AI-powered online assistant, can help find features

Cons
  • Data streams on only one device at a time 

  • Traders Workstation a steep learning curve

  • IBKR Pro customers charged fees to trade, though they are low

Charles Schwab

Schwab's research pages point out the exchange on which a stock trades, which will keep you informed of the inherent risk. There are a variety of platforms available; the StreetSmart platforms have customizable charting and streaming real-time quotes. Schwab does not charge trading commissions on all stocks (including penny stocks) and ETFs.

Pros
  • Excellent screeners available on StreetSmart Edge

  • Free access to a wide array of news feeds

  • Strong customization and personalization options on StreetSmart Edge

Cons
  • The sheer number of features and reports available sometimes overwhelming

  • Transaction history for just 24 months online

  • Uninvested cash not swept into a money market fund

Penny stocks are volatile and can generate catastrophic losses. Price levels in this article are hypothetical and do not represent buy recommendations or investment advice. Keep in mind that it's your responsibility to make trading decisions through your own skilled analysis and risk management.

Peter Leeds is the author of several books, including the international bestseller, "Penny Stocks for Dummies." He and his team also issue a newsletter devoted exclusively to penny stock picks and analysis, as well as a popular YouTube channel PeterLeedsPennyStocks.

Sours: https://www.investopedia.com/updates/top-penny-stocks/

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