3 Penny Stocks That Investors Are Watching With DWAC Stock Pushing Up
With October finishing strong for penny stocks, there is a lot of bullish sentiment in the market right now. Most of the movement in the past week has been with two ‘meme stocks’ or stocks that have received a lot of attention online.
This includes Trump’s SPAC Digital World Acquisition Corp. (NASDAQ: DWAC) and Phunware Inc. (NASDAQ: PHUN). In the past five days, shares of DWAC stock have climbed by a staggering 845% to almost $100 per share. On the other hand, shares of PHUN stock have climbed by over 745% in that time. This includes a more than 35% gain during premarket trading today.
While these two stocks are unicorns, they do show that the market does have the power to push stocks up by these sizable margins. Whether these bull runs can continue or not remains to be seen. But, what we do know is that there are plenty of ways for investors to take advantage with penny stocks. Considering all of this, here are three penny stocks to watch right now.
3 Penny Stocks to Watch in Late October 2021
Salem Media Group Inc. (NASDAQ: SALM)
Salem Media Group inc. is a penny stock that has increased in value by more than 40% in the past five days with a six-month and YTD gain of over 130% and 310% respectively. These are very sizable and reflect both the company and the entertainment industry during that time.
If you’re not familiar, Salem is a company that offers broadcasting, digital media, and publishing services. Salem holds ownership of radio networks and sells commercial airtime. It additionally provides Christian, conservative news, investing, e-commerce, and other entertainment through various websites such as CCMmagazine.com and SingingNews.com. Also included in Salem’s business is the publishing of books and magazines.
On October 11th, Salem announced its participation in the Noble Capital markets C-Suite Interview Series. In this interview series, multiple Salem executives including the CEO Edward Atsinger sat down with Noble Capital Markets Senior Research Analyst Michael Kupinski. The topics discussed included recent refinancing, management’s goals, key growth drivers, and more. The interview took place on September 19th and is available for access via Channelchek.
Salem also recently announced that its Salem Podcast Network will launch the Doug Collins Podcast on October 25th. Doug Collins is a former Congressman who represented Georgia’s Ninth Congressional District from 2013 to 2021.
“For years, I was so impressed with Doug Collins as a Congressman. When we had the opportunity to bring him over to the Salem Podcast Network, we moved fast. He will be a great addition to our lineup, and will help us save the country we all love.”
The SVP of Spoken Word at Salem, Phil Boyce
One trading day before the podcasts launch, SALM stock’s volume was nearly 33 million compared to an average of 1.1 million. Keeping this in mind, will SALM make your list of penny stocks to watch?
IZEA Worldwide Inc. (NASDAQ: IZEA)
IZEA Worldwide Inc. is a penny stock that just went up nearly 17% on the market on October 22nd in addition to a more than 10% gain during premarket today. This company offers an online marketplace for content creators and marketers to use. IZEA also offers technology solutions that allow for the management of content workflow. Some of the solutions offered by its services are creator search and targeting, analytics, bidding, and payment processing. Its business also includes influencer marketing campaigns which has become a large market during the past year and a half.
On October 19th, IZEA’s Talent Partner Program welcomed The Cut. The Cut is a sports and entertainment marketing agency that creates partnerships to benefit its clients. It currently represents 90+ clients in leagues such as the NBA, NFL, and MLB. As a part of the partner program, The Cut will get better opportunities for sponsorship deal flow by collaborating with IZEA’s Managed Service division. It will also be able to access preferred talent inclusion in the IZEAx and Shake creator networks and more.
“Strategy is key in today’s society, where digital and social media campaigns call for branding, innovation, and talent. The IZEA Talent Partner Program creates a new dynamic for The Cut and its clientele while giving the ability to build their individual brands. IZEA provides new levels of opportunity and The Cut looks forward to growing within the Talent Partner Program.”
CEO and President of The Cut, Brad Cutler
Just a few days after this announcement was made, IZEA stock increased substantially in the market. Currently, its trading volume is over 22.5 million compared to an average of just above 1 million. Considering this info, will IZEA be on your penny stock watchlist in October?
Kelso Technologies Inc. (NYSE: KIQ)
Another penny stock that has been moving up substantially in the past few trading days is Kelso Technologies Inc. Kelso is an industrial company that offers equipment for the transportation market. The company is involved in the development, production, and distribution of these products. Primarily, Kelso offers railway equipment, but it also offers trucking components. Its railway products include bottom outlets, pressure cars, check values, and wheel cleaners. Its trucking components include one-bolt manways and safety vales for tank trailers.
Back in August, Kelso announced the regulatory completion of new commercial truck tanker equipment. It has now completed the design, engineering, and required testing of two pieces of truck tanker equipment. This equipment was made to reliably contain and manage the pressure of commodities transported by road. These products include a combined pressure and vacuum relief valve and a one-bolt manway.
“Despite frustrating time delays and scheduling interruptions imposed by pandemic circumstances, the Company’s relationships continued to grow with an increased number of strategic product development stakeholders. This has allowed Kelso to maintain the development of its brand through the creation of new technology solutions for transportation operations in rail, road, and wilderness transportation markets.”
The CEO of Kelso, James R. Bond
On October 22nd, KIQ stock increased in value and its volume was much higher than its average in the market. Considering all of this, does KIQ stock deserve a spot on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, finding the right ones for your portfolio can be challenging. However, because there are so many penny stocks, the opportunities to make money with small caps are endless.
It all comes down to knowing where to look and whether you’re putting in enough time and energy to know everything about the company. Considering all of this, which penny stocks are you watching right now?