3 Penny Stocks For Your November Watchlist
If you’re making a penny stocks watchlist for the rest of November, there are plenty of options to choose from. But, to have the best chance of making money with penny stocks, investors need to consider what’s going on in the stock market at large.
While Covid cases have continued to drop off in the past few weeks, the lasting effects of the pandemic such as inflation and uncertainty remain. And as a result, many investors have turned to stocks that could see value as the pandemic continues to end.
This includes biotech penny stocks, mining penny stocks, energy stocks, and more. Next on the list, we have the major emphasis on tech stocks right now. This includes metaverse penny stocks as well as those benefitting broadly from the lasting chip shortage. While this is by means a complete list of penny stocks to buy right now, it should help to put you on the right track.
In addition to understanding which industries could be valuable in the near future, investors should have a strong strategy of how to trade penny stocks. This will be your best friend as markets are more volatile than ever. Considering all of this, let’s take a look at three penny stocks to watch in Mid-November 2021.
3 Penny Stocks to Watch in Mid-November 2021
Lion Group Holding Ltd. (NASDAQ: LGHL)
Lion Group Holding Ltd. is a penny stock that has seen a sizable amount of volatile momentum in the past few trading sessions. If you’re unfamiliar, LGHL is a company that operates a trading platform in Hong Kong. This trading platform offers a range of products and services for its customers. These products and services include contracts for difference trading, insurance brokerage, futures, and securities brokerage services, asset management, and more. It also offers total return swap services including A-shares and Hong Kong stock basket-linked TRS.
At the end of September, the company announced its unaudited financial results for the first half of 2021. The company’s total revenue decreased by 44% during this period. It also experienced a net loss instead of a net income in the first half of 2021. This occurred because of the ongoing effects of COVID-19 and the impact on Lion Group’s business. As a result, shares of LGHL stock have been on the decline. However, many of those who trade penny stocks look for companies that could have forward value. And while this remains to be seen with Lion Group Holding, investors could see potential in the future of the company.
“As the COVID-19 pandemic persists, our various business lines continue to be affected by its impact. The economic and financial impact of COVID-19 upon our customers have caused a decrease in their willingness to trade and make investments, while travel restrictions to Hong Kong prevent new or existing customers from purchasing insurance products.”
CEO of Lion, Mr. Chunning (Wilson) Wang
Now the company is focusing on NFT and Metaverse technology in its core business to complement its trading services. It currently expects to launch its NFT trading platform in the fourth quarter of 2021. Noting this info, will LGHL be on your list of penny stocks to watch?
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is a penny stock that has been trending heavily over the past few months. YTD, shares of KOS stock have shot up by over 50% with a one-year gain of over 180%. For some context, Kosmos works in the oil and gas sector and operates out of Dallas, Texas. Kosmos’ main focus is on deepwater independent oil and gas exploration and production. The company looks for and produces oil and gas at the U.S. Gulf of Mexico, Equatorial Guinea, offshore Ghana, and more. Furthermore, Kosmos maintains a proven basin exploration program.
On October 21st, Kosmos announced the pricing of $400 million aggregate principal amount of its 7.750% senior notes due 2027. This offering closed on October 26th and was subject to customary closing conditions. Kosmos stated that the net proceeds will be used for refinancing the $400 million aggregate principal amount of private placement notes it issued to fund its acquisition of Anadarko WCTP Company.
In addition to this, the company released its Q3 2021 financial results on November 8th. In the report, the company posted a net loss of $29 million or $0.07 per share.
“With the recently executed transactions, Kosmos has significantly enhanced the outlook for the Company. The Oxy Ghana transaction accelerates our strategic delivery with increased near-term production and cash flow driving down leverage. The cash flow from the acquired assets also supports our portfolio transition to LNG at a time of increasing global gas demand.”
The CEO of Kosmos, Andrew G. Inglis
In addition, the company brought in net revenue of almost $200 million with 49,300 boepd. All of this is exciting for investors to consider and should factor into your decision for KOS stock. With that in mind, does it deserve a spot on your list of penny stocks to watch?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a penny stock that’s climbed by more than 40% in the last month and more than double that in the past six months. If you’re not familiar with the company, Denison is a mining company that operates out of Canada. Primarily, Denison engages in the exploration and development of uranium assets. The company is focused on its flagship project, the Wheeler River uranium project located in northern Saskatchewan.
On November 4th, the company reported its financial results for the third quarter of 2021. During this period, Denison successfully completed ISR field test activities at the Phoenix uranium deposit. Included was the achievement of commercial-scale production flow rates similar to those in the pre-feasibility study for the Wheeler River project in 2018. Now Phoenix has been advanced to the feasibility study stage, and Wood PLC will lead and author the study.
“Our recent In-Situ Recovery (‘ISR’) field test results reflect several years of progress made towards systematically de-risking the use of the ISR mining method at the high-grade Phoenix deposit – culminating in the successful, and first of its kind, field test of a commercial-scale well pattern located in the expected first phase of the Phoenix orebody.”
President and CEO of Denison, David Cates
Based on this recent advancement, is DNN stock worth watching?
Which Penny Stocks Are You Buying Right Now?
With so much going on in the stock market, it can be difficult to keep track of everything at once. However, because there are so many factors impacting penny stocks, investors have plenty of opportunities to make money with small caps. With all of this in mind, which penny stocks are you buying right now?