3 Penny Stocks For Your Mid-November Watchlist
With another week of trading penny stocks and blue chips here, investors continue to look for the best small-caps to buy. To do so, we have to have a thorough understanding of what is going on in the stock market. Because speculation plays such a large role in how penny stocks trade, understanding what events are impacting the market, will help you to have the best chance of making money with penny stocks.
Right now, one of the main concerns is inflation. Following massive stimulus and an economy recovering from an ongoing pandemic, inflation continues to reach high levels. And as a result, the price and availability of goods continue to be affected. However, compared to last week’s trading, we are beginning to see fears surrounding inflation settle as stock futures climb on November 15th.
Despite this, we are still seeing a very volatile market. This is the result of both social media’s influence on investing and the influence of retail traders as well. If we consider all of this and think outside of the box, these factors can become a part of our trading strategies. So, with all of that in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch in November 2021
Altamira Therapeutics Ltd. (NASDAQ: CYTO)
Altamira Therapeutics Ltd. is a biotech penny stock that has climbed by a very sizable 41% in the past five days. This includes its over 50% gain on Thursday, November 11th. If you’re not familiar, Altamira is a company that makes therapeutics for unmet medical needs. Altamira is involved in the development of its products. One of its commercial products is Bentrio, which is a drug-free nasal spray for protection against viruses and allergens. It is also developing OligoPhore and SemaPhore which are for mRNA delivery and oligonucleotide.
On November 12th, the company reported positive in vitro efficacy data for its Bentrio nasal spray. The data shows that the nasal spray worked in protecting against the COVID-19 delta variant. Additionally, the results show further confirmation for broad applicability in viral infections for the product. Bentrio was applied in the same type of assay followed by a once-daily application for four days.
“These fresh results provide further support for the broad applicability of Bentrio. By forming a protective film on the nasal mucosa and trapping particles, Bentrio has a purely physical mode of action and is thus suitable for use across different types of viruses and virus variants.”
The Chairman and CEO of Altamira, Thomas Meyer
Following this announcement, CYTO stock’s price and volume have skyrocketed. With this in mind will CYTO stock be on your watchlist this month?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock we have mentioned a lot recently due to its consistent trending nature. During premarket trading on November 15th, shares of FAMI stock are up by around 4%. Farmmi is a company that offers agricultural products to for sale both domestically and in various countries. It is involved in the processing and sale of these products. Among its edible fungi products are shiitake, Mu Er mushrooms, bamboo fungi, Pleurotus eryngii, and more. It’s worth noting that Farmmi has a large export deal for shiitake mushrooms and dried black fungus with a company in Israel.
On November 11th, Farmmi’s subsidiary Zhejiang Farmmi Food Co. Ltd. showcased its product line at the 25th Food & Hospitality China Shanghai Global Food Trade Show. Last year, this trade show reached 17,454 visitors and 2500 exhibitors, so this is a very large-scale event. The trade show took place in an area of 150,000 square meters.
“We couldn’t be happier to see a return to large, in-person trade shows. These major events are a big part of our sales growth strategy, as we can efficiently get in front of both new and existing customers to build upon our relationships and discuss areas of expansion.”
Chairwoman and CEO of Farmmi, Ms. Yefang Zhang
With its popularity in the past few weeks, it makes sense that investors are watching FAMI stock right now. However, at $0.33, it is known to be quite volatile. With all of this in mind, does FAMI deserve a spot on your penny stocks watchlist this week?
Moving iMage Technologies Inc. (NYSE: MITQ)
Moving iMage Technologies Inc. is an entertainment penny stock that has climbed by around 20% in the past five days. For some context, MITQ is an entertainment-tech company that offers cinema equipment products. Moving iMage is involved in the design, manufacturing, integration, installation, and distribution of its products. These products are used to build, revamp, and equip motion picture exhibition theaters. It also offers custom engineering, integration, installation services, and more.
On November 11th, the company reported its results for the first fiscal quarter ended September 30th, 2021. Its year-over-year revenue grew 98% to $3.5 million during this period. It also got rid of $3.1 million worth of debt during the first fiscal quarter. The company has initiated fiscal 2022 revenue guidance of $12 to $15 million. In total, Moving iMage had cash and cash equivalents of $11 million.
“We believe that fiscal 2021 was a trough year. We used this period to lean out our operations and expand our proprietary product offerings in preparation for the industry’s recovery from the pandemic, and I am encouraged to see industry optimism gaining momentum in recent months.”
The Chairman and CEO of Moving iMage Technologies, Phil Rafnson
Based on this new information, will MITQ be on your list of penny stocks to buy?
Which Penny Stocks Are You Watching Today?
If you’re making a penny stocks watchlist today, there are plenty of options to choose from. With so much momentum in the stock market, investors can take advantage of the large price movements we’re witnessing on a daily basis.
Additionally, having a trading strategy is the best way to stay ahead when it comes to rampant price movement with penny stocks. And, this strategy should be aligned with what’s going on in the world and your own risk tolerance. Considering all of that, which penny stocks are on your watchlist today?