3 Hot Penny Stocks to Add to Your October Watchlist
Investing in penny stocks in 2021 has not been easy. And with no signs of easing on volatility anytime soon, investors should be constantly adjusting their strategies. With penny stocks, we tend to see speculation play a much larger role than we could with blue chips. This means that company and industry-specific announcements can have a major and swift effect on the price of certain penny stocks.
For this reason, it is key to stay as up-to-date as possible on everything going on with the companies you’re interested in. In addition to this, having a thorough and updated understanding of what is going on in the world, can help to guide your portfolio in the right direction.
Lastly, investors should have a thought-out and well-developed trading strategy. This is the best way to avoid losses with penny stocks. At the end of the day, penny stocks will still be volatile. But it is up to you to learn how to take advantage of this volatility to make money with penny stocks. So, with all of this in mind, here are three to watch in October 2021.
3 Penny Stocks to Watch in October 2021
InspireMD Inc. (NASDAQ: NSPR)
InspireMD Inc. is a biotech penny stock that has climbed by over 5% in the last five days. This company is currently developing products to treat vascular and coronary diseases. InspireMD is actively developing and commercializing its proprietary MicroNet stent platform technology. The goal is to offer this product in Europe, Asia, Latin America, and the Middle East. It also offers the CGuard carotid embolic prevention system for carotid artery treatments.
On October 13th, the company received reimbursement approval for its CGuard Embolic Prevention System from the French National Authority for Health. The CGuard EPS has now been added to the list of reimbursed medical products effective on October 25th. This is the last step the company needed for a full commercial launch of the product. The product is already available in 33 markets, and now France is another addition to these markets. Distribution is one of the key aspects of commercialization, and this announcement is a step in the right direction.
“This milestone now provides physicians in France with the choice to use CGuard EPS in the treatment of carotid artery disease and stroke prevention. We strive to improve the standard of care in the treatment of carotid artery disease, by moving away from surgical endarterectomy towards less invasive options such as the CGuard EPS Carotid Stent System.”
The CEO of InspireMD, Marvin Slosman
This announcement is likely why NSPR stock increased in value on the same day, with its volume more than five times its average. With this in mind, will NSPR be on your penny stock watchlist right now?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a mining penny stock that has seen sizable bullish momentum in the past few weeks. Over the last five days, shares of DNN stock have shot up by over 24% and in the past six months by 59%. If you’re unfamiliar, DNN is a uranium exploration company that is based in Canada. The company develops uranium properties in the Athabasca Basin region in northern Saskatchewan. This is where the Wheeler River uranium project is located, in which Denison owns a 95% stake in.
The company announced an at-the-market offering deal with Cantor Fitzgerald and Scotia Capital on September 28th. This is an equity distribution agreement that will allow Denison to offer and sell common shares in the United States and Canada with an aggregate offering price of up to $50 million.
These sales, if any, would be made up of regular TSX or NYSE American broker transactions. As a result, the at-the-market offering has become a potentially significant tool for future public market access. This is the most recent update that has come from Denison. Considering its sizable gains in the past few weeks, will DNN make it on to your list of penny stocks to watch?
NeuroBo Pharmaceuticals Inc. (NASDAQ: NRBO)
NeuroBo Pharmaceuticals Inc. is a biotech penny stock that has begun to show signs of a bullish turnaround following a few months of less than stellar trading. Currently, NeuroBo is developing therapies to treat neurodegenerative and cardiometabolic diseases. NeuroBo also focuses on providing therapies for COVID-19. One of its programs is ANA001 which has completed a Phase 2 clinical trial to treat patients with moderate coronavirus. It also has NB-01 for treating painful diabetic neuropathy, and NB-02 for treating cognitive impairment.
On October 13th, the company announced a positive recommendation from the Independent Data Safety Monitoring Committee. This is for the Phase 2 / 3 clinical trial of ANA001 in hospitalized patients with moderate to severe COVID-19. The DMC reviewed data from 36 patients treated in the trial, and it recommended the continuation of it with no modification.
“We look forward to continuing the development of this potentially life-saving therapy to address the ongoing need for safe and effective COVID-19 treatments, particularly as this pandemic is evolving into an endemic. We expect to complete the Phase 2 portion of the trial in the fourth quarter of this year and to achieve a number of value-creating milestones with this program in the coming months, including initiation of the Phase 3 of trial.”
President and CEO of NeuroBo, Richard J. Kang
NRBO stock’s volume was more than four times its market average on the same day of the announcement, indicating a solid trend for NRBO. Will NRBO be on your list of penny stocks to watch?
Which Penny Stocks Are on Your October Watchlist?
Finding the best penny stocks to buy in October 2021 can be challenging. But, with the right research by your side, it can be much easier than previously imagined.
Considering that there is so much going on in the stock market right now, making a list of the best penny stocks to buy will be a major asset to your portfolio. Considering all of this, which penny stocks are on your October watchlist?