3 Penny Stocks to Add to Your Watchlist in Late-November
With the short trading week for penny stocks and blue chips coming to an end, investors continue to search for the best small caps to buy. Today on November 22nd, we witnessed a sizable amount of market momentum that resulted in some explosive movement among select penny stocks.
Although trading stocks in the last few months has not been for the faint of heart, investors are excited about what the future could hold. Right now however, there are a lot of global factors to contend with. On one hand, we have sizable inflation numbers in the U.S. This is hindering confidence in the near future of the company.
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On the other hand, we have a global resurgence of Covid cases that is resulting in a fourth wave. All of this is creating a layer off uncertainty that is hard to bypass. But, with high volatility comes the potential to make money with penny stocks. And as a result, having a proper trading strategy can mean the difference between profits and losses. 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 Late-November 2021
Remark Holdings Inc. (NASDAQ: MARK)
Remark Holdings is a communications penny stock that saw an over 240% spike at the end of last month. Since then, shares have been correcting, however, the company could have a lot to offer. For some context, Remark is an artificial intelligence solution provider for corporations and software developers. It owns and manages an internet media platform centered on a luxurious beach lifestyle. Its products are sold in the United States under the Remark AI brand and in China under the KanKan name.
On November 15th, Remark released its third quarter financial results for 2021. During this period the company received a contract of $5 million to deliver its AI workplace safety solutions to 100 industrial real estate construction sites. Remark experienced revenue of $1.2 million compared to $2.6 million in FYQ3 2020. The company’s gross profit also fell year over year from $1 million to $0.4 million.
“Despite stringent, periodic citywide lockdowns associated with COVID-19 in China and a major U.S. customer slowing its product rollout due to technical difficulties, we have been able to achieve revenue through the first nine months of 2021 of $9.7 million, nearly matching full year 2020 revenue of $10.1 million.”
The Chairman and CEO of Remark Holdings, Kai-Shing Tao
Since October 18th, shares of MARK stock have shot up by over 55%, which is no small feat. However, investors should consider the potential of Covid to continue affecting MARK. Based on this new info, will MARK be on your penny stock watchlist in mid-November?
Qualigen Therapeutics Inc. (NASDAQ: QLGN)
During the trading day on November 22nd, shares of QLGN stock shot up by around 25%. However, during after-hours trading, QLGN stock continued its rally, pushing up by more than 44%. This is a major gain and one that is clearly ties to its recent financial report release. On November 15th, the company posted its Q3 financial results for 2021.
In the report, it stated that its revenue came in at $1.2 million compared to $0.8 million in the same quarter of the previous year. In addition, it managed to sell larger numbers of products which improved its gross margin. Qualigen finished the third quarter with roughly $12.3 million in cash and cash equivalents, which it states should be plenty to fund its business into the end of next year.
The bulk of the positivity surrounding QLGN stock right now seems to be around its FastPack diagnostic system. This system can rapidly diagnose immunoassay tests, and is used by over 1,000 physician offices around the world. If it can manage to continue growing this market, there’s no telling what results we could see from QLGN in the future. Whether this makes it worth adding to your penny stocks watchlist or not is up to you.
Express Inc. (NYSE: EXPR)
Express Inc. is a well-known retail corporation based in the United States. To date, the company has around 570 retail locations in 46 states as well as Puerto Rico. One of the main funnels that Express is operating in right now is e-commerce. While its focus in the past few years has been on in-person sales, the company has transitioned heavily to online sales as have many similar companies in the past year and a half. If you live in the U.S., you’ve probably stumbled across one of Express’ stores given its expansive reach. However, its e-commerce strategy could be worth keeping an eye on.
Express’ most recent update was on October 19th, 2021. On the 19th, the company revealed that Perry Pericleous, its CFO, would be leaving. The Acting Interim CFO will be President and COO Matthew Moellering, who will take over on November 12th. Moving forward, Express plans to release its Q3 2021 financials in the near future.
These financial results will be released on Thursday, December 2nd, 2021. Express will issue a press release and hold a conference call hosted by its CEO, Tim Baxter alongside the President, COO, and interim CFO Matt Moellering. Over the course of the last month, EXPR stock has increased in value. During that time, shares of EXPR stock have shot up by over 11% with a staggering YTD gain of over 395%. Now on November 22nd, EXPR stock is up nearly 8% in total. Considering the major emphasis on the retail market right now, does EXPR deserve a spot on your list of penny stocks to buy?
Can Penny Stocks Continue to Make Gains?
Although it is too soon to tell what the future will look like for penny stocks, investors seem optimistic. Right now, there are a lot of factors that investors have to contend with when it comes to trading penny stocks.
But, with a proper trading strategy and a commitment to understand what is going on in the stock market, making money with penny stocks can be completely doable. With that in mind, do you think that penny stocks can continue to make gains?