3 Trending Penny Stocks to Watch Right Now
Finding trending penny stocks can be a great way to get ahead in the stock market. And although it can be difficult to find penny stocks before they become trending, there are a few ways to do just that. The simplest and most straightforward way to do so is to scour social media. This includes platforms such as Reddit and Twitter. Often, penny stocks or blue chips will be discussed heavily on these sites which can lead to heavy volume and large attention.
But, it’s worth noting that we will also see extremely high volatility. It’s not unusual for a trending penny stock to climb in the double or even triple-digit percentage points, and then subsequently fall by the same amount. This is the current state of the stock market and is something that traders have to deal with when it comes to trending stocks.
With 2021 being the year of the meme stock, there is more movement in the stock market than arguably ever before. This coincides with the movement we’re seeing with cryptocurrency as well. All of this adds up to show that investors want to see a bull market.
One thing to consider is that traders should always do their own research before investing. It’s easy enough to find a stock online, but, if it doesn’t have the fundamentals to back it, it can be easy to watch losses add up. So, with all of this in mind, let’s take a look at three penny stocks that are trending right now.
3 Penny Stocks That Are Trending Right Now
Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
Seanergy Maritime Holdings Corp. is a penny stock that climbed up by 5.77% in the market today. For some context, this company transports dry bulk commodities by sea. Primarily, Searnegy transports iron ore and coal all around the world. When the company receives its M/V Dukeship, its operating fleet will consist of 17 Capesize vessels. These vessels have an aggregate cargo-carrying capacity of 3,011,083 deadweight tons and an average age of 11.5 years.
On October 26th, the company announced a new sustainability loan facility and signed a call to action for shipping decarbonization. It received a commitment letter from a leading European bank for a sustainability-linked loan facility to finance some of the M/V Worldship acquisition cost. The company also became a signer of the Call to Action for Shipping Decarbonization, which is a global coalition of more than 190 industry leaders and organizations.
“The proceeds of this new loan will further enhance our strong liquidity position. At the same time, we are excited to actively participate along with global industry leaders in the Call to Action, a significant initiative aiming to contribute to our industry’s decarbonization targets.”
Chairman and CEO of Seanergy, Stamatis Tsantanis
With this new announcement in mind, will SHIP be on your list of penny stocks to watch?
Seelos Therapeutics Inc. (NASDAQ: SEEL)
Seelos Therapeutics Inc. is a biotech penny stock that is performing well in the market right now. This company creates technologies and therapeutics for treating central nervous system and respiratory system disorders among others. The company is involved in the development and commercialization of these products. One of its programs currently is SLS-007 which is for treating patients with PD. It also has SLS-002 which is for treating acute suicidal ideation and behavior in patients with major depressive disorders.
At the 2021 IASR/AFSP Internation Summit on Suicide Research, Seelos gave a presentation. The company presented a poster on SLS-002 which is intranasal racemic ketamine. It displayed data from the part 1 open-label portion of the study and stated that it showed a rapid, robust, and sustained improvement on all 4 scales utilized measuring depression and suicide. This is very positive data for Seelos Therapeutics.
“SLS-002 demonstrated a rapid onset of action, impressive efficacy and a sustained improvement from the first dose through the end of the study, including the group mean meeting the MADRS remission criteria initially on Day 6 after only 2 doses.”
The Chairman and CEO of Seelos, Raj Mehra
On October 28th, SEEL stock is up 5.77% in the market with higher than average volume. Keeping this in mind, will SEEL be on your penny stock watchlist?
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a penny stock we have mentioned several times in the past few weeks. This is due to its frequent upwards trajectory in the market and constant trending nature. For some context, Ambev is a company that offers beer, carbonated soft drinks, and food products in the Americas. Ambev engages in the production, distribution, and sale of these products. It sells products under brands such as Pepsi, Canada Dry, Budweiser, Extra, Modelo Especial, and many more.
Ambev is performing well in the market right now after it reported new financial numbers. On Thursday, October 28th, the company stated that its quarterly net profit was $660.89 million, up 57.4% year over year. This is due to the reopening of bars and restaurants which could be increasing the demand for its products globally.
Chief Executive Jean Jereisati stated in a conference call that he believes that Ambev’s earnings before interest, taxes, depreciation, and amortization will be back at 2019 levels or higher. The company also reported its highest volumes ever for a third quarter, with a 7.7% organic increase year over year. Its net revenue also grew 20.8% higher year over year. Now on October 28th, ABEV stock is up 9.7% in the market and its volume is more than double its average. Whether this makes ABEV stock worth watching or not is up to you.
Are Trending Penny Stocks Worth it or Not?
The short answer to this question is that it entirely depends on your own unique investing style. While some tend to invest conservatively, others are more inclined to find riskier penny stocks. But, at the end of the day, knowing what type of trader you are and which penny stocks could fit into your portfolio, will help you to make money with small caps.
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In addition, be sure to have your short and long-term goals laid out. If you’re looking to make long-term gains, fundamentals will be your best friend. But, if short-term gains are your thing, speculation may be more worth looking into. Regardless, do you think trending penny stocks are worth buying or not?