3 Penny Stocks For Your Watchlist in October 2021
Trading penny stocks in 2021 can be challenging, but with the right tools, it can be much easier than previously imagined. To understand how to trade penny stocks right now, investors first need to have a thorough understanding of what’s going on in the stock market.
While Covid has been the largest impact on the market in the past year and a half, there are several other factors at play right now. This includes inflation in the U.S., gas shortages in certain areas of the world, and now, the return of meme stocks. So, considering that there is so much going on in the stock market right now, there are also plenty of ways to take advantage. One of the best ways to do so is to have a concrete trading strategy.
This ensures that there will be no surprises when it comes to price action and that you will remain consistent with your portfolio goals. While there is no one strategy that will allow you to easily make money with penny stocks, having a strategy in the first place can make it much more likely. In addition, using the current market trends to your advantage, will help tremendously towards that goal. Considering all of this, here are three penny stocks that could be worth watching in October 2021.
3 Penny Stocks For Your October 2021 Watchlist
McEwen Mining Inc. (NYSE: MUX)
McEwen Mining Inc. is a mining stock that has been climbing in several recent trading sessions. This company explores at various mining properties located in North America and Argentina. Primarily, the company looks for gold, silver, and copper deposits at its properties. McEwen is involved in the exploration, development, production, and sale of these products. Some of its properties include the Gold Bar mine, Black Fox mine, and the El Gallo Project among others.
In August, the company’s subsidiary McEwen Copper Inc. closed a new private placement. This was the first tranche of the Series B private placement offering issuing 4 million common shares at $10 per share. The total gross proceeds of the private placement are $40 million. All of the shares issued were purchased by CEO Rob McEwen’s investment corporation Evanachan Limited.
Now McEwen Copper plans on pursuing a public listing within a year of closing the offering. These proceeds will be used to advance the Los Azules project to a pre-feasibility study and various other purposes. Considering this information, will MUX make your list of penny stocks to watch?
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is a penny stock that has been on everyone’s minds in the past week or so. In the last month, shares of CEI stock have climbed by a staggering 460% or so with over 100% of that occurring in the last five days. For those unfamiliar, this company focuses on the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids. As of March 31, 2020, the company had total estimated proven reserves of 133,442 million barrels of oil equivalent.
Back in August, the company’s majority-owned subsidiary Viking Energy Group Inc. announced its financial results for the quarter ended June 30, 2021. Viking’s second-quarter revenue has gone up every year since 2019. This quarter was no different, with Viking’s revenue being over $1.1 million higher than 2020. During this quarter, Camber owned about 62% of the issued and outstanding common shares of the company. On July 29, 2021, Camber increased its interest in Viking to about 73%.
“We are pleased with Viking’s second-quarter results, and are very excited about steps we have taken subsequent to the end of Q2 to strengthen the organization, including Viking’s recent acquisition of a majority interest in Simson-Maxwell Ltd., a leading power generation and energy solutions company.”
President and CEO of Camber and Viking, James Doris
If you look at the last month for CEI stock, it has been performing extremely well in the market. Just a month ago CEI stock was at $0.50 per share on average. Now on September 29th, the penny stock has made it to $3.90 per share, and its volume is over four times its average. With this in mind, will CEI make your penny stock watchlist in October?
Jiuzi Holdings Inc. (NASDAQ: JZXN)
Jiuzi Holdings Inc. is a penny stock that’s been trending in the last few days. If you’re not familiar with Jiuzi Holdings, it is a company that sells electric vehicles and related parts at its retail stores. These Jiuzi retail stores are both operated by the company and franchised. As of July 15th, 2021, the company had 31 franchised stores and one company-owned store.
On September 29th, the company announced that it recently signed a strategic cooperation agreement with Shaanxi Tongjia Auto Co. Ltd. Tongjia will deliver to JZXN 2000 new energy vehicles, including its best-selling electric delivery vehicle, the Electrix OX II. These will be sold through Jiuzi’s retail stores throughout this year and next year. Both companies will use their resource sharing and respective advantages to create a clean, green, safe, and efficient production chain.
“We are very excited to establish this strategic cooperation partnership with Tongjia in addition to the cooperation arrangements made with Chongqing Ruichi Automobile Industry Co., Ltd. and Hemei Auto Holdings Co. Ltd., as announced in the past few months.”
The Director and Chairman of Jiuzi Holdings Inc., Mr. Shuibo Zhang
On the same day of the announcement, JZXN’s volume is was more than seven times its average. Noting this new info, will JZXN enter your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. With so much momentum in the stock market, it can be difficult to make money with penny stocks in 2021.
However, this momentum also means that there is plenty of movement to take advantage of. At the end of the day, it all comes down to your trading strategy and the amount of work you’re willing to put in. Considering this, which penny stocks are you watching right now?
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