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Are These Penny Stocks Worth Being Bullish On? 3 to Watch

3 Penny Stocks to Watch That Are Climbing Right Now

There’s no doubting that 2021 has been a tough year for penny stocks and blue chips investors alike. Although the market has turned around in recent months with the S&P 500 hitting record highs, volatility has never been greater. And while it may seem like a scary and difficult time to invest, there is plenty of opportunity to make money with penny stocks right now. 

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To do so, investors need to first understand that penny stocks trade more off of speculation than any other indicator. This means that news and events will always be the main driver of price movement.

As a result, paying attention to what’s going on in the world as it pertains to both the stocks on your list and those you’re interested in, could payoff in the long term. Considering the major movements that we are witnessing daily, let’s take a look at three penny stocks that are making large waves right now. 

3 Penny Stocks That Investors Are Bullish on Right Now?

Clear Channel Outdoor Holdings (NYSE: CCO) ReTo Eco-Solutions Inc. (NASDAQ: RETO) Concert Pharmaceuticals Inc. (NASDAQ: CNCE

Clear Channel Outdoor Holdings (NYSE: CCO)

One of the biggest stories of the year has been centered around the “reopening trade” and companies that could benefit from widespread vaccine distribution. Well, I’m here to say that this has become the case and reopening or “epicenter” stocks have become a big focus. Clear Channel Outdoor is one of these and a quick look at the year-to-date chart shows how big 2021 has been so far.

Clear Channel specializes in outdoor advertising media. If you’ve driven on any US highways recently, you’ve likely seen their brand posted under a few billboards and other outdoor advertising platforms. The company recently demonstrated its growth after publishing Q3 2021 results this week. Clear Channel’s Q3 earnings per share came in at a $0.09 loss, in line with expectations. However, the company was able to beat analyst estimates on sales of over $596 million compared to the $589.02 million expected. The company sees Q4 revenues coming in between $715 and $740 million so keep that in mind when it comes time for full-year results in a few months.

“Looking ahead, we continue to see a significant increase in bookings across the company, with many of our markets exceeding 2019 levels, particularly those in the U.S. We are demonstrating the resilience of our business and its ability to rapidly bounce back after the disruption caused by the pandemic,” said CEO William Eccleshare. With reopening efforts continuing, globally, traditional businesses including advertising could be a focus heading into the end of the year.

ReTo Eco-Solutions Inc. (NASDAQ: RETO)

ReTo Eco-Solutions Inc. is a penny stock that has climbed substantially in the past few trading days. With a 15% gain on November 10th, shares of RETO stock have shot up by over 40% in the last five days. What’s even more impressive is its one-month gain of over 109%. If you’re not familiar, this company offers construction materials such as aggregates and bricks in China. ReTo and its subsidiaries are involved in the manufacturing and distribution of these products. Most of the company’s materials are used for flood control, water retention, roads, bridges, and more. Additionally, it offers automated production equipment with hydraulic integration.

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On October 27th, the company reported its first half of 2021 financial results. During this period, ReTo’s revenue decreased by 27% to $2,282,526. This occurred due to its machinery and equipment sales falling 13% to $1,185,360. During the first half of fiscal 2021, the company recorded non-cash bad debt expenses of $3,612,004.

“The COVID-19 pandemic was primarily responsible for the difficult first half of the fiscal year 2021 for RETO. The international equipment market is struggling to recover from the pandemic. Currently, China’s infrastructure spending has decreased, meaning the demand for building materials has reduced.”

The Chairman and CEO of the company, Mr. Hengfang Li

It’s hard to say exactly why shares of RETO stock have been increasing in several recent trading sessions. But, it doesn’t seem like investors are complaining. Considering its major gains in the past month, will RETO be on your penny stock watchlist in November?

Concert Pharmaceuticals Inc. (NASDAQ: CNCE)

Despite the stock market getting hit mid-week, all penny stocks didn’t follow suit. In many cases, as I’m sure you’ve seen, many cheap stocks tend to move detached from broader sector trends. In this case, Concert Pharmaceuticals has continued climbing as markets sell-off on November 10. The company’s recently announced earnings and corporate update seems to have acted as a strong catalyst this week. Most of the focus was more on Concert’s pipeline than financial performance as is the case with early-stage biotechs.

Its CTP-543 program, in particular, was a key highlight with meaningful development during the third quarter. According to CEO Roger Tung, Ph.D., “The CTP-543 pivotal program is progressing on track to support an NDA filing with the FDA in early 2023…We continue to believe that CTP-543, with its Breakthrough Therapy designation, has the potential to be a best in class compound to treat this challenging autoimmune disease and hope to make it available to patients as soon as possible.”

Concert’s platform is under development for treating moderate to severe alopecia areata. Enrollment for its THRIVE-AA1 Phase 3 trial was completed in October with toppling results expected in Q2 of next year. Furthermore, its THRIVE-AA2 Phase 3 trial is currently underway with top-line data expected during the second half of next year. With the move CNCE stock has already made this week, it seems like these details were seen as favorable with shares retesting levels above $4 for the second time this month.

Which Penny Stocks Are You Bullish On Right Now?

Finding the best penny stocks to buy in 2021 can be challenging. Given that this year has been extremely volatile due to the pandemic, there is a lot to keep track of.

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But, if investors use these factors to their advantage, making money with penny stocks right now can be much easier than previously imagined. Considering this, which penny stocks are you bullish on right now?

The post Are These Penny Stocks Worth Being Bullish On? 3 to Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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