3 Penny Stocks For Your End of July Watchlist
With July coming to an end, many penny stocks investors are ready to hit the reset button. While a new month is nothing more than symbolic for the stock market, this could be enough to put us on a bullish trajectory. Right now, there are a sizable number of factors impacting both penny stocks and blue chips that investors should pay attention to.
The most prominent of course, being the pandemic and the recent effects of the Delta variant. While cases in the U.K. are dropping only a few days after spiking, the U.S. seems to be a couple of weeks behind. This means that while we may be in for a rough few weeks ahead, the trajectory could unexpectedly begin to drop. With all of this in mind, let’s take a look at three penny stocks to watch as July ends.
3 Penny Stocks to Watch as July Comes to an End
Sintx Technologies Inc. (NASDAQ: SINT)
Sintx Technologies Inc. is a biotech penny stock that is performing well in the market. Since July 14th, shares of SINT stock have climbed by over 10%. For some context, the company creates silicon nitride ceramics for medical and industrial use. Sintx is involved in the R&D, manufacturing, and commercialization of these products, which makes it a fully vertical operation.
Currently, Sintx has a collaboration with Oxford Performance Materials Inc. for the development of more uses for its proprietary offerings. On July 27th, the company announced that it has shipped its first order of FleX SN-PEEK composite. This composite can be used for spine surgery, joint replacements, and other medical procedures.
“The shipping of our new FleX SN-PEEK product is a huge milestone for SINTX, and we couldn’t be more excited. We’re continuing to leverage the osteogenic and antipathogenic properties of silicon nitride for biomedical applications and believe this is a superior product that has many benefits.”
The President and CEO of Sintx, Dr. Sonny Bal
This is a big deal for the company as it not only will provide funding, but it also illustrates the utility of its products from a broad standpoint. When this was announced, SINT stock experienced a large spike in price, indicating how speculative it is as a penny stock. While its stock price has settled down since then, SINT is back on the rise on July 29th. The company’s stock price increased by around 1% in the market on this day. Keeping this in mind, will SINT stock be on your penny stocks watchlist?
Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a biotech company that we have mentioned frequently over the past few months. This is due to the constant momentum that Iterum Therapeutics sees and the wide breadth of updates it gives to investors. On July 29th, ITRM stock shot up by more than 16%, which is no small feat. And in the past two days, shares of ITRM have shot up but over 35%. So now you may be wondering, what does Iterum Therapeutics do?
This company creates anti-infectives to treat urinary tract infections, intra-abdominal infections, and more. Currently, its flagship product, sulopenem is in Phase III clinical trials to treat UTIs. On July 26th, Iterum Therapeutics received a letter of rejection from the FDA for its oral Sulopenem product. While this seems bad on the surface, let’s look at the facts. It is common to see a rejection letter like this from the FDA, as pharmaceuticals are always changing. And while it isn’t the end of the line for sulopenem, it is a point at which the company must pivot to get it approved.
When the announcement was made, shares of ITRM stock fell in value, which is understandable. However, only a few days later as mentioned above, ITRM stock has been increasing substantially. It’s recent momentum is a clear reflection of how highly investors think about Iterum and its potential in the future.
And while this is a setback in the short term, hopefully, the company can move beyond this and progress in trials with sulopenem. It’s worth noting that the company’s volume is also more than double its average at the moment. So keeping all of this in mind, will ITRM make your list of penny stocks to watch?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock that has been quite volatile over the past few months. While shares of FAMI stock were at over $2 back in February, they have since sunk to under $0.40. And while this decline is disheartening, some investors believe that FAMI stock could be at a low point, and therefore, have some potential longer-term value. To understand why let’s take a look at what Farmmi does.
The company offers food products such as its wide variety of edible fungi. In addition to this, it has an online store known as Farmmi Jicai, which sells products under the Farmmi Liangpin and Forasen brands. Farmmi also exports dried whole and sliced shiitake mushrooms and black fungus. These products are all sold to restaurants, distributors, stores, and more.
At the end of June, Farmmi secured a new export for a Vancouver company. This order was placed for Farmmi’s dried black fungus product. The CEO of the company, Yefang Zhang said, “Our level of customer engagements continues to expand as we add further value with our leading packaging and logistics to ensure product quality, flavor, and minimize costly waste.” Now it will be interesting to see what is next in the cards for Farmmi Inc.
And, to understand why FAMI stock could have value, we have to consider the current state of both the agriculture market and the food export industry. The recent issues with certain potential U.S. bans on Chinese goods also presents a challenge for Farmmi. And, this is likely the main reason for shares of FAMI stock dropping in the past few weeks. So, with all of this in mind, is FAMI stock worth watching right now?
Which Penny Stocks Are You Watching Right Now?
With so many factors occurring simultaneously, investing in penny stocks right now is a challenge. However, because there is so much going on, there are plenty of speculative advantages that investors can use.
With July only a day from ending, traders are excited for the symbolic shift that a new month presents. Considering this, which penny stocks are you watching right now?