If you’re looking for the best penny stocks to buy right now, grab a number and get in line. This year has been one of the wildest when it’s come to these cheap stocks. Thanks to the meme trend early on, retail traders have become well aware of low-price stocks’ potential.
Whether it was the AMC Entertainment (NYSE:AMC) rally from $1.92 to highs of $72.62 or the latest breakout of Camber Energy (NYSE:CEI) from $0.33 to highs of over $3.30, the proof is in the pudding as they say.
Not all penny stocks respond this way. But it isn’t unusual to find stocks under $5 that jump 50% or more within a single day or week. The important part is knowing how to find opportunities early. In addition to that, you’ll want to have a plan going into the trade.
Are you aiming for short-term gains or planning on swinging it for a few days? Or looking to invest in penny stocks? Your plan can evolve, of course, depending on market conditions. You can also use different strategies to keep you in winning trades longer for when stocks like CEI and AMC end up running for more than just a few days.
It’s crazy to think that at one point in the not-so-distant past, so many of the meme stocks were trading as penny stocks. Today’s article focuses on some of the lowest-priced names in the stock market today. But thanks to CEI stock‘s epic run, could be on the radar heading into October.
Top Penny Stocks Under $1 To Watch Right Now
1. Alpha Esports Tech (OTC:APETF)(CSE:ALPA)
One of the latest trending penny stocks to watch this month is Alpha Esports Tech. The recent news that the company’s shares are DTC eligible has opened up more access to US brokerages. Leading up to this, momentum had already been picking up. If you look at the last four days of trading, you’ll see what I mean.
One of the themes that have remained a focus for Alpha since going public this year is expanding its footprint. The company has ramped up efforts to establish critical partnerships with leading sports organizations and other Esports companies. According to Alpha, it has already partnered & worked with HUGE names in sports, entertainment, and education, including Barstool Sports, ESPN Radio, Devil Child, Oxygen Esports, Notre Dame, Syracuse University, Penn State, University of British Columbia, University of Rochester, Western Michigan University, and others.
It most recently inked a deal to become the Official Online Gaming Portal of Nets Gaming Crew, the NBA 2K League affiliate of the Brooklyn Nets, providing Alpha the opportunity to directly connect with NetsGC’s network of fans and the NBA 2K League community. NetsGC and Alpha will team up to host two esports tournaments on the GamerzArena platform – one for high schoolers and one for college students, just for starters.
What To Watch With Alpha Esports
Where the real opportunity comes to light is the way Alpha is monetizing its user base. Its GamerzArena+ product is a subscription-based service allowing members access to higher-paying tournaments along with the ability to access unique and special events. What’s more is that the other partnerships that Alpha has established have helped expand its global reach in places like India, Brazil, and North America.
Led by experienced names from Red Bull, Reel One Entertainment, The Golden State Warriors, Mount Sinai, Victory Square Technologies, Activision, and Atari, Alpha is emerging as one of the esports stocks to watch in 2021.
2. Enzolytics Inc. (OTC:ENZC)
Another one of the penny stocks under $1 that’ve gained momentum recently is Enzolytics. The company specializes in drug development for treating infectious diseases. In particular, its platform includes potential treatments for HIV/AIDS, as well as the coronavirus. While there haven’t been many new updates, its share price has recorded substantial gains this month.
At the end of August, shares traded around 12 cents. As of this week, ENZC stock has reached highs of just over $0.17. This might only equate to a 5-cent move. However, since this is one of the cheapest penny stocks on this list, a move like that is worth more than 40%.
What To Watch With Enzolytics
In its last update, Enzolytics announced the completion of its agreements with Danhson and Clinic Design for advancing its ITV-1 anti-HIV therapeutic to production and clinical trials. Danhson will produce the therapeutic while Clinic Design undertakes the task of conducting clinical trials. At the time (July 2021), the company explained that “Production of the therapeutics is expected to be completed in the next few months followed by clinical trials to be conducted immediately thereafter.”
According to the company, in in vitro tests conducted in 5 international laboratories, ITV-1 was shown to fully neutralized over 95% of all strains and viral subtypes of HIV-1 against which it was tested. Enzolytics explained that the basis for its broad-spectrum efficacy is that Clone 3 antibody targets an immutable epitope on the HIV virus. Given the speculation has begun building once again, ENZC stock has remained on the watch list for some traders right now.
3. NXT-ID Inc. (NASDAQ:NXTD)
NXT-ID has worked on bouncing back from a significant dip earlier this month. The company announced a public offering to raise $12.5 million at a steep discount to the market at that time. Following the drop, NXTD stock had upheld levels and a consistent trading channel between $0.40 and $0.50.
The company is a tech company focusing on biometric and behavior-metric identity verification. Its LogicMark subsidiary opens the door for the company to manufacture and distribute both non-monitored and monitored personal emergency response systems. With millions in fresh capital, NXT-ID has earmarked funds for new product development and liability reduction, among other things.
What To Watch With NXT-ID
Right now, the attention is on an upcoming proxy vote. There’s a special shareholder meeting next month on the 15th. With this, holders of NXTD stock will decide on the outcome to allow the company to effect a reverse split or not. The primary purpose of the split, according to NXT-ID, is to regain compliance with the Nasdaq and have a minimum price of $1. The split has already been supported by proxy advisory firms, which has helped boost sentiment this week. With the proxy date looming, will NXTD be on your list of penny stocks to watch heading into October?
4. Superior Drilling Products Inc. (NYSE:SDPI)
You can’t talk about trending penny stocks today without mentioning at least one energy company. Superior Drilling Products has experienced a strong move this week thanks to upbeat industry sentiment. Furthermore, SDPI stock also falls into the low float stock category that many retail traders have followed recently. In the case of Superior, the total outstanding share count sits below 26 million. Furthermore, some outlets list the float at just over 11 million. By most accounts, SDPI can be considered one of the low float penny stocks to watch.
Why would anyone look for this feature? When you’re talking about lower “floats,” you’re talking about stocks that have fewer shares freely trading between public hands. Basic supply and demand say that lower supply and higher demand equate to higher prices, and higher supply with lower demand is the opposite. Low float penny stocks are well-known for their volatility. In this light, SDPI stock has gained some interest.
What To Watch With Superior Drilling
Along with the low float trend, energy stocks are hot right now. Superior Drilling specializes in developing drilling tool technology aimed at cost savings for its customers. Its solutions include Superior’s Drill-N-Ream well bore conditioning tool and its Strider oscillation system. In its latest round of earnings, the company expressed that it had seen favorable responses from its products.
“We believe our strong growth this quarter clearly demonstrated the value of our Drill-N-Ream(R) (“DNR”) well bore conditioning tool as well as the growing demand for our manufacturing capabilities. The DNR is enabling drilling innovation. We believe that by including our tool in their drill string, producers are able to drill more complex well profiles and increase the total flow area of their wells while covering greater footage in shorter amounts of time.”
Troy Meier, Chairman and CEO
With this backdrop against a bullish energy market, SDPI may be on the list of penny stocks to watch among retail traders.
5. Aikido Pharma Inc. (NASDAQ:AIKI)
Aikido Pharma jumped this week thanks to a string of news-fueled momentum. The company announced its latest investment in telehealth company Kerna Health. The digital health platform is used for digital health monitoring and virtual care.
The attractive part mentioned by Aikido was that Kerna is quickly developing a large backlog of shared revenue contracts. In particular, the backlog of executed contracts was already at $25 million in Pro-forma shareable revenues along with additional in-process contracts Aikido said could grow to $50 million “n the short term” with $400 million thereafter.
What To Watch With Aikido
This week momentum continued in the market for AIKI stock. Once again, headlines sparked this move. Aikido announced that it secured interest in Tevva Motors, which produces electric trucks. While this may seem like a deviation from its core model, Aikido has become a company to watch for its investment process as well. Earlier this year, the company invested in DatChat (NASDAQ:DATS), which has become a massive hit in the stock market this quarter. Whether or not this latest deal that offers exposure to the EV space follows suit or not is yet to be seen.
Should You Buy Penny Stocks?
Penny stocks are known for their high risk and reward. Over the last few months, traders have become more familiar with these cheap stocks, and thanks to massive breakouts from the likes of AMC or CEI stock, attention remains at high levels. One of the beauties is that even if the stock market on a broader scale is down like it is today, there’s sure to be plenty of penny stocks to watch that buck the trend.
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