3 Penny Stocks to Watch at the End of November 2021
With another week of trading penny stocks off to a good start, investors continue to search for the best small caps to buy. Now, to do so, there are a few things that investors need to consider. Right now, one of the biggest factors affecting penny stocks and blue chips is inflation. This is a result of the billions in stimulus given out over the past year alongside the most recent $1 trillion infrastructure bill.
In addition to this, we are also seeing the price of oil begin to drop, following the White House releasing 50 million barrels from strategic reserves. So, there are a lot of impacts that penny stocks are seeing right now from world events. But, with traders hoping for a bullish future, there is also plenty to look forward to. With that in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Add to Your Watchlist Right Now
RLX Technology Inc. (NYSE: RLX)
RLX Technology Inc. is a penny stock that climbed by over 9% on November 22nd before correcting slightly. And during premarket trading on November 23rd, shares of RLX stock pushed up by a very respectable 12%, taking it out of penny stock territory. For some context, this business distributes e-vapor items to the Chinese market. RLX’s is directly involved in the development, manufacturing, distribution, and sale of its products, making it a vertical entity. In addition, the company has several branded partner stores and retailers that sell its products, vastly broadening its market reach.
Back in August, RLX released its second-quarter financial results for 2021. During this period, its net revenues went up 6% to $393.6 million. Its gross margin was at 45.1% compared to 46% in the first quarter of 2021. In the same period, RLX’s gross profit went up by 3.8% to $177.6 million in total. These numbers are very encouraging and show both the growth of the company and the vaporizer market in China.
“In the second quarter of 2021, our business continued to develop as we increased our efforts to further improve underage protection and product safety. With our strategic focus on technology investment and brand building, we strive to make RELX a trusted brand for adult smokers with state-of-the-art products, industry-leading technologies, and scientific advances.”
Co-Founder and Chairperson of RLX, Ms. Ying (Kate) Wang
As a result of its recent bullish movement, many investors are paying attention to RLX stock right now. With this in mind, will RLX be on your penny stock watchlist?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a global industrial corporation that specializes in offshore contract drilling. For oil and gas wells, the corporation hires drilling rigs, drilling equipment, and work personnel. Currently, Transocean owns or has a stake in 37 mobile offshore drilling units. There are 27 ultra-deepwater floaters and 10 harsh environment floaters among these units, with two additional ultra-deepwater drillships in the works.
[Read More] 4 Penny Stocks To Watch This Week
On November 1st, Transocean released its third-quarter financial results. During this period, it achieved total contract drilling revenues of $626 million compared to $656 million last quarter. Its revenue efficiency climbed up by 0.1% to 98.1% compared to the previous quarter. Transocean’s operating and maintenance expenses also fell during this period from $434 million to $398 million.
“I would like to thank the entire Transocean team for their continued dedication to delivering safe, reliable, and efficient operations for our customers. We once again produced strong financial results. Notably, our strong uptime performance during the quarter drove an impressive revenue efficiency of 98%, resulting in adjusted revenues of $683 million.”
The CEO and President of Transocean, Jeremy Thigpen
This is all exciting news and shows that Transocean is working hard to grow. In addition, we have to consider that the demand for oil and gas globally has increased substantially in the last year. And with predictions only showing this demand increasing, RIG stock could be worth keeping an eye on. With a YTD gain of over 30%, does RIG have the potential to make your penny stock watchlist?
Enzolytics Inc. (OTC: ENZC)
Enzolytics Inc. is a biotech penny stock that has climbed by more than 70% in the past YTD period and 300% over the past twelve months. If you’re not familiar, Enzolytics is a company that offers a variety of medical treatments. Primarily Enzolytics focuses on commercializing proprietary proteins to cure devastating infectious diseases. Its treatments are aimed at eradicating the HIV virus, and as a result, it offers a large range of clinically tested anti-HIV drugs.
On November 17th, the company announced the production and sale of its “Enzolytics IPF Immune” in the United States. This is a tested immune modulator based on its U.S. patent. In multiple tests, the therapeutic has shown beneficial effects for various diseases including HSV-1, SARS-CoV-2, and more.
“We see this product as significant to our focus on providing effective therapeutics for treating infectious diseases and are proud to bring to the U.S. and North American markets a product that has been tested and previously successfully marketed abroad. Over many years, I have been intimately involved in its invention, development, and prior testing.”
The Chief Scientific Officer of Enzolytics, Harry Zhabilov
Right now, there is a major emphasis on both biotech stocks in general, and those that are working on a Covid-related treatment. Because of this, ENZC has continued to gain popularity over the past year or so. Noting this new update, will ENZC stock be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2021 can be challenging. But, with so many to choose from, making money with penny stocks is entirely possible right now.
Considering that there is plenty of momentum to take advantage of, investors can work to find creative ways to utilize current events to see gains. With all of that in mind, which penny stocks are you watching right now?