Are These Trending Penny Stocks on Your Watchlist?
Trending penny stocks are some of the most popular small-caps that investors are watching right now. And, there are a few good reasons as to why this is the case. For one, trending penny stocks can indicate sizable market momentum.
This is true if we look at both volume and the reason why a stock is trending. In addition, with the influx of retail traders stemming from platforms like Reddit and Twitter, there is a high degree of volatility in the stock market right now. With this, many investors have turned to “trending penny stocks” as a way to take advantage of the sizable market momentum.
One thing to keep in mind is that penny stocks that are trending, tend to be very volatile. This means that prices can fluctuate substantially on a given trading day. Because of this, investors should have a thorough understanding of their own investment strategy and portfolio goals. This will be a great indicator for which penny stocks may suit your style best.
When it comes to finding trending penny stocks, investors should always make sure to do the proper research as well. This means looking at financial data, press releases, and any upcoming announcements related to the company or the industry. So, with all of this information in mind, let’s take a look at three trending penny stocks to watch in the second half of October.
3 Penny Stocks To Watch That Are Trending Right Now
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is an oil and gas that has continued to trend over the past month or so. After climbing by more than 660% from August 31st to September 31st, shares quickly corrected. For some context, this company acquires, develops, and sells crude oil, natural gas, and natural gas liquids. Its main property is located in the upper Wolfberry shale and Cline shale in Glasscock County, Texas. The company’s total estimated proved reserves were 133,442 million barrels of oil equivalent as of March 31st, 2020.
The company recently filed with the SEC stating that it experienced a sudden increase in its share count because of the conversion of preferred shares by an institutional investor. As a result, Camber announced a reverse stock split to reduce its ability to offer shares at the same ratio that it splits the stock.
CEI stock recently experienced some negative momentum, however, this makes sense given its massive rise in value in the previous weeks. The company’s volume is still near its market average considering how trending it is. Compared to the start of 2021, CEI stock is performing extremely well. While it is not near its September highs, CEI stock still could have a lot of potential in the market. With this in mind, will CEI make your penny stock watchlist in October?
Gaotu Techedu Inc. (NYSE: GOTU)
Gaotu Techedu Inc. is a tech penny stock that has also been trending in the past few weeks. This company offers various educational services in China. The primary service that Gaotu offers is K-12 online after-school tutoring. Gaotu teaches courses in English, physics, biology, Chinese, history, and much more. It also offers English test preparation courses, foreign language courses, admission courses, and more.
On September 21st, Gaotu announced its financial results for the second quarter of 2021. The company’s net revenue of RMB2,232,3 million was an increase of 35.3% year over year. Its gross billings and paid course enrollments went up 12.2% and 4.1% respectively over 2020. Despite these positive results, Gaotu did experience a net loss instead of net income during this period.
“We say that 2014 is Gaotu’s first attempt as a startup, and 2016 is our second start, then we can also say that 2021 is our third start. We should always keep the goal of education in mind, always firmly believe that education is a noble profession. It’s undeniable that we have boundless faith in the bright future of the Chinese education industry.”
Founder, Chairman, and CEO of Gaotu Larry Xiangdong Chen
In the past month, shares of GOTU stock have climbed by over 40% despite being down by more than 90% YTD. Based on these recent results and its upticks, will GOTU stock be on your October watchlist?
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is an energy penny stock that has been gaining momentum in the past few trading sessions. If you’re unfamiliar, Transocean is an oil and gas company that offers contract drilling services at offshore locations. The company contracts its drilling rigs along with work crews and needed equipment to drill oil and gas wells. Currently, Transocean owns or has partial ownership interests in and operates 37 mobile offshore drilling units. These units include 27 ultra-deepwater floaters and 10 harsh environment floaters.
On October 11th, the company announced that it has committed to reducing operating greenhouse gas emissions intensity by 40% by 2030. Transocean has implemented multiple innovations to improve the performance of its rigs and enhance safety. The company is also striving to improve its reliability, operational execution, and efficiency. It will achieve this reduced emissions target without impacting safety and operational integrity according to the company.
“Our responsibility as the industry leader extends beyond providing superior results for our customers. We must continue to deliver our services in a manner that minimizes our impact to the environment and, in this context, supports the interests of all our stakeholders, including employees, customers, investors, and for the broader public good.”
President and CEO of Transocean, Jeremy Thigpen
Following this announcement, RIG stock quickly went up in price and then began to correct as most stocks do. With this new info to note, will RIG be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best trending penny stocks to buy can be a challenge considering the sheer amount of stocks out there. However, with the right research and a commitment to understanding how the market moves, it can be much easier than previously imagined.
Considering that there is also a lot of momentum in the stock market right now, there are plenty of opportunities to make money with penny stocks. With all of that in mind, which penny stocks are you watching right now?