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Best Penny Stocks to Buy Right Now? 3 to Watch as 2021 Ends

3 Penny Stocks to Watch as 2021 Comes to an End 

With the New Year only a week or so away, penny stocks remain at top of mind for many investors. As a result of sizable bullish momentum and large market swings, many penny stocks are showing massive movement. Right now, the largest impacting factor on how penny stocks and blue chips trade is Covid and the Omicron variant specifically. While initial reports are showing that the variant is less severe, its transmissibility is worrying. 

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Right now, there are major worries completely surrounding this variant as cases erupt globally. And although this was expected, the market is incredibly reactive right now. In addition, we have high inflation and the desire to avoid another shutdown globally. While all of these factors are greatly increasing volatility, they are also adding movement for penny stocks investors to take advantage of. With that in mind, let’s take a look at three top penny stocks to watch today. 

3 Top Penny Stocks to Watch Right Now 

Society Pass Inc. (NASDAQ: SOPA) SeaChange International Inc. (NASDAQ: SEAC) Ocugen Inc. (NASDAQ: OCGN

Society Pass Inc. (NASDAQ: SOPA) 

One of the biggest premarket gainers today so far is SOPA stock, pushing up by over 37%. Despite a drop of over 90% in the past month, big news came out on Sunday, December 19th. Before we get into it, it’s worth taking a closer look at what Society Pass does. Society Pass operates a customer loyalty and analytics platform for hundreds of thousands of customers. In Asia, Society Pass operates the SoPa.asia platform as well as the #HOTTAB POS (a specialized POS system). These products are aimed at small and medium-sized enterprises and help to build convenience and customer retention. On December 19th, Society Pass announced that it is now a part of the Russell 2000 Index, which will be effective at market open today on December 20th. 

“This is an exciting milestone for Society Pass to reach soon after our successful IPO in November. Being a part of these highly regarded and widely used indexes will bring greater market awareness to our Company as we work to achieve our goals for growth and expansion in Southeast Asia.” 

Dennis Nguyen, the CEO of Society Pass

This is big news for the company and should help to bring in renewed interest and more capital in the long run. While it will take time to see the fruits of this deal there’s no doubting that it is exciting for investors to consider. With that in mind, will SOPA stock be on your list of penny stocks to watch?

SeaChange International Inc. (NASDAQ: SEAC) 

Another sizable premarket gainer so far is SeaChange International, which climbed by over 7% by 9 AM EST. This gives it a more than substantial 100% in gains over the past five days alone. While many sizable gains like this can occur purely off speculation, there are a few factors that are impacting SEAC stock right now. Currently, there are talks between SeaChange International and the video platform Triller for a potential merger, although nothing has been confirmed. Triller is a social media video app that has large ties to Donald Trump, following his ban from Twitter. 

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Through its media companies, Triller reaches over 350 million users. Recently, we’ve seen other Trump-related stocks soar on news like this, which shows why SEAC stock has climbed so heavily in the past week or so. And, a week or so ago, SeaChange announced its financial results for the third quarter of 2022. The company stated that revenue is up by 44% YoY and 9% sequentially. 

“Our financial results in the third quarter demonstrate our continued commitment to our multi-pronged strategy towards revenue growth, increased profitability, and strategic objectives. My first 90 days included a deep dive into the operations, management objectives, and growth products that we are ‘leaning’ into to accelerate our transformation and provide customers with leading-edge software to drive their streaming services.” 

The CEO of SEAC, Peter D. Aquino

Considering all of this, does SEAC stock serve a spot on your list of penny stocks to watch?

Ocugen Inc. (NASDAQ: OCGN) 

While OCGN stock is technically not a penny stock anymore at over $5.24, it was only a day or so ago. And with an 11% gain during pre-market trading today, shares of OCGN have been soaring alongside the rest of the biotech industry. The main reason for Ocugen’s recent rise comes as the company is working on a Covid vaccine known as Covaxin. It stated that data showed a promising immune response for up to 6 months against variants of concern. 

While the FDA has put a clinical hold on Ocugen’s IND for Covaxin, investors still seem bullish about the future of OCGN stock. Swayampakula Ramakanth, an analyst at H.C. Wainwright, gave OCGN a 10$ price target, which is an almost 95% climb from its current levels. Now, it’s worth noting that its recent gains are highly speculative and as a result, investors should be slightly wary. However, the Covaxin vaccine is showing robust data right now. 

“As a whole-virion inactivated vaccine, we anticipated COVAXIN would produce an immune response against multiple antigens present in the SARS-CoV-2 virus, such as spike and nucleoprotein antibodies.” 

Shankar Musunuri, Ph.D., MBA, the CEO of Ocugen

Right now, any company working on a Covid treatment or cure is seeing major attention. Although the gains are incredibly speculative, the reality remains that Covid is a major factor in market movement right now. With that in mind do you think OCGN stock is worth buying right now?

Which Penny Stocks Are on Your Watchlist?

If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. While not all are worth it, using research and understanding what’s going on in the stock market can make a big difference.

[Read More] Are These Penny Stocks Worth Adding to Your Watchlist?

Right now, investors need to understand the full impact of the Omicron variant and its effects on the stock market. Considering all of this, which penny stocks are on your watchlist right now?

The post Best Penny Stocks to Buy Right Now? 3 to Watch as 2021 Ends appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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