3 Penny Stocks That Could Explode in November 2021
If you’re looking for penny stocks that could explode, there are hundreds of options to choose from. And while part of finding penny stocks to buy is looking at fundamentals, the main cause of movement tends to be speculation. It is this fact that can mean the difference between making money with penny stocks and losing money with penny stocks. This week, we’ve seen penny stocks and blue chips jump substantially in a short time frame.
How to Find Penny Stocks That Will Explode
If you’ve been paying attention, you’ve likely seen some major gainers such as Farmmi Inc. (NASDAQ: FAMI), Progenity Inc. (NASDAQ: PROG), and Digital World Acquisition Corp. (NASDAQ: DWAC). And while it’s difficult to find stocks like these before they explode, there are a few methods that could be useful.
For one, scouring social media sites such as Reddit and Twitter to find trending penny stocks can be a great place to start. While this is tedious and can lead you to highly volatile stocks, it can also be a valuable resource to get started. With penny stocks, we see that speculation is the driving force behind any large move. For this reason, utilizing the power of the internet can be a great resource if you’re looking for penny stocks that could explode.
While no one method will allow you to find winners every time, looking for news or signals in the market can be a great way to stay ahead. This includes using press releases, global news, industry-specific events, and more to predict movement before it happens. With all of this in mind, let’s take a look at three penny stocks that could be worth watching right now.
3 Penny Stocks to Watch in November 2021
Digital Ally Inc. (NASDAQ: DGLY)
Digital Ally Inc. is a tech penny stock that has climbed by a respectable 8% or so in the past five days. This is a company that focuses on producing and selling digital video imaging and storage products. These are commonly used in law enforcement, security, and commercial applications. It offers digital audio/video recording items, storage items, and more including in-car recorders for law enforcement vehicles.
On October 20th, the company was awarded a notable order for in-car and body-worn cameras. This order was from the Columbus Police Department in the United States. The department ordered 20 EVO-HD in-car systems and 30 body cameras hosted on the EVO Web evidence management solutions. It was purchased through Digital Ally’s subscription payment program.
“We are proud to continue to provide the Columbus Police Department with the critical equipment their officers need every day. Our technology has proven to be invaluable in increasing officer safety as well as providing unbiased, transparent video evidence during interactions.”
Stan Ross, the CEO of Digital Ally
As a result of this, DGLY stock has seen greater than average volume in the past few trading days. This is indicative of a stock that is trending and could continue to trend. With all of this in mind, does DGLY stock deserve a spot on your penny stocks watchlist?
Siyata Mobile Inc. (NASDAQ: SYTA)
One of the biggest gainers of the day so far is SYTA stock, pushing up by over 78% by midday. While many large gains occur without news, Siyata Mobile made a big announcement during trading today. During premarket trading on October 27th, Siyata announced that it has signed an investment agreement for $6 million in gross proceeds from Lind Global Partners II, LP. The agreement will give the push-to-talk cellular device producer the chance to repay and terminate its existing convertible notes.
“Staying connected in emergency situations is more critical now than ever and we are committed to being a leading provider of innovative push-to-talk and connectivity solutions to our first responder heroes around the world. We are thrilled to have the support of The Lind Partners as a significant investor in Siyata and believe this funding will give us the flexibility we need to reach our goal of achieving profitability in the coming quarters.”
The CEO of Siyata, Marc Seelenfreund
While the investment alone is big news, the implications seem to be responsible for driving SYTA stock up right now. When a big investment firm invests in a company, it shows institutional confidence in that business. And as a result, SYTA investors are finding renewed confidence in the company right now. So, whether this makes SYTA stock worth adding to your list of penny stocks to buy or not is up to you.
Brickell Biotech Inc. (NASDAQ: BBI)
Another penny stock that is gaining today is BBI stock. By midday, shares of Brickell Biotech Inc. had climbed by over 11%. While no news came out today regarding this gain, we can look at an announcement that came out a few weeks ago to deduce why it happened. Before we get into it, let’s talk about what Brickell Biotech does.
As its name implies, BBI is a biotech company working in the field of clinical-stage pharmaceuticals. Its therapies are made to treat dermatologic, autoimmune, and other diseases. On October 7th, Brickell Biotech announced positive topline data from its Phase 3 pivotal clinical study of Sofpironium Bromide Gel in those with Axillary Hyperhidrosis. The company plans to submit an NDA or New Drug Application to the FDA by the middle of next year.
“We are excited to report the positive topline results from our pivotal Phase 3 clinical studies. These data are highly encouraging and further reinforce our belief that sofpironium bromide gel, 15% has the potential to become a best-in-class treatment option for the millions of patients suffering from primary axillary hyperhidrosis.”
Robert Brown, the CEO of Brickell Biotech
While it’s hard to tell if this news is responsible for today’s gain, it is exciting nonetheless. And with the major bullish sentiment around the biotech industry in the past year or so, BBI remains an interesting penny stock to watch.
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, finding the best ones to buy can be challenging. But, because there are so many, the opportunities to make money with penny stocks are palpable.
The best way to ensure growth in your portfolio is to take an active role in trading. This means staying up to date with news and events and understanding exactly what is going on in the market. Considering this, which penny stocks are you watching right now?