Why Retail Traders Are Buying These Penny Stocks Right Now
Retail traders have become one of the largest influences on the price of penny stocks in the past year and a half. While non-institutional investors are nothing new to the stock market, the rise of trading platforms like WeBull, has given the public more power in the market than ever before.
As a result, trading penny stocks and blue chips in 2021 can be complicated without the right tools at your disposal. This includes a proper trading education and a thorough understanding of how to benefit from certain market events.
Right now, one of the most important factors to consider is the impact of social media on stocks. This involves platforms like Reddit and Twitter, which allow communities of traders to get together to discuss stocks of all types.
And in the past year, we’ve seen these platforms be responsible for several double and triple-digit percentage gains over a short time frame. So, if you’re investing in stocks that are popular with retail traders, it’s important to be careful, and understand just how volatile they can be. With all of that in mind, let’s take a look at three penny stocks that retail traders are watching in November 2021.
3 Penny Stocks to Watch in November 2021
IZEA Worldwide Inc. (NASDAQ: IZEA)
IZEA Worldwide Inc. is a communications penny stock that operates an online marketplace for marketers and content creators. Its solutions allow customers to manage workflow, creator search, data analytics, and payment processing. In short, IZEA offers influencer marketing campaigns and related social content posting.
On November 10th, the company released its financial results for the third quarter of 2021. IZEA’s total revenue went up 88% to a total of $7.6 million which was a new record for the company. This is compared to $4 million the previous year. Its managed services unit revenue went up 104% year over year as well. Lastly, the company’s total costs and expenses went up 72%. This information is all very exciting for the company and investors alike. And, it shows the increase in demand for influencer marketing as consumers have turned to e-commerce more than ever during the pandemic.
“Investment in sales and marketing resulted in more than double the new managed service customers added in the quarter vs. the same quarter last year. Those new customers, combined with increases from existing customers, led to all-time record bookings and revenue in the quarter.”
The Chairman and CEO of IZEA, Ted Murphy
In the past five days, shares of IZEA stock have climbed by over 19%. And, in the past twelve months, share have shot up by a staggering 230%. While it is nowhere near its January high of over $7, it does look like shares are creeping back up. Considering this, will it be on your list of penny stocks to watch?
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)
AgriFORCE Growing Systems Ltd. is a company focused on agricultural technology. This company develops and designs facilities, hydroponics-based growing systems for cultivators, and more. These systems allow cultivators to grow crops in a controlled environment. It also offers lighting solutions, integrated AI solutions for planting, and more.
On October 17th, AgriFORCE announced a binding letter of intent to acquire a leading AgTech European consultancy. The focus is to drive agricultural optimization, innovation, solutions, and operational expertise in the agriculture industry. The total purchase price by AgriFORCE was around $29 million with a mix of cash and stock.
“This acquisition is an alliance of our complementary expertise and shared values. Both AgriFORCE and this leading European AgTech consultancy are dedicated to making positive change in the lives of farmers and consumers. This is an unprecedented opportunity for exceptional innovation and through our synergies, expanded growth in both North America and Europe for both organizations.”
The CEO of AgriFORCE, Ingo Mueller
In the last month, shares of AGRI stock have pushed up by over 12%. While it only went public back in early July, we’ve begun to recently see bullish momentum with AGRI stock. Based on this new info, will AGRI be on your penny stocks watchlist?
BIMI International Medical Inc. (NASDAQ: BIMI)
BIMI International Medical Inc. is a biotech penny stock that climbed by over 54% by EOD on November 16th. This brings its one-month gain to over 72% which is no small feat. If you’re not familiar, this company offers medical devices, pharmaceuticals, and other healthcare products. BIMI is involved in the retail and distribution of said products. These products include prescription and over-the-counter drugs, Chinese medicines, supplements, and much more. Many of its products are sold under the Lijiantang Pharmacy brand name.
On November 15th, BIMI released its third-quarter financial results for 2021. The company states that its revenue for this period is $13,777,494 over $3,091,071 the previous year. This was a total 345.7% increase of $10,686,423. BIMI’s gross profit went up 688.7% year over year as well, from $257,278 to $2,029,109. These numbers are incredibly substantial and are likely responsible for the very large gain we saw with BIMI stock today.
“We are glad to achieve significant revenue growth in the third quarter. The growth was mainly driven by the increase in sales of wholesale pharmaceuticals. Contributing to the increase in revenues for the three months ended September 30, 2021, was the operations of our recently-acquired five hospitals”.
CEO and President of BIMI, Mr. Tiewei Song
Right now, the biotech industry is on fire. This initially began as a response to the pandemic, however, it has remained over a year and a half later. While it’s clear that BIMI stock is highly volatile, its financials are very encouraging. Whether that makes it worth adding to your watchlist or not is up to you.
Which Penny Stocks Are You Watching Right Now?
While there are hundreds of penny stocks to choose from, not all will offer the same value as others. Because of the sizable number of stocks out there, investors need to do the proper due diligence before investing.
This means pouring through data and understanding exactly what makes a penny stock move. Considering this, which penny stocks are you watching right now?