4 Hot Penny Stocks to Watch Right Now
Right now, penny stocks and blue chips are on fire. Following a less than stellar past few months, many stocks have been able to climb back toward recent highs. And today, penny stocks investors got another solid sign of recovery as Bitcoin surged above $46,000. While it may not seem like Bitcoin and cryptocurrency have anything to do with the stock market, it can often be a great indicator for overall bullish sentiment.
In addition, the rise and fall of different cryptocurrencies can greatly affect certain correlated penny stocks. In addition to this, many reopening penny stocks climbed today on rising Delta-variant related case numbers. While the pandemic does look to be worsening right now, many investors have taken the opportunity to find the best penny stocks that may benefit from long-term reopening. This includes hospitality stocks, entertainment stocks, energy stocks, and more.
The best way to find penny stocks to buy in this area of the market is to think outside of the box. By utilizing research, investors can find stocks that may be able to benefit due to certain factors. Considering that there is so much going on in the stock market right now, investors need to understand how to take advantage. With all of this in mind, let’s look at four penny stocks to watch this week.
4 Hot Penny Stocks to Watch Right Now
NanoVibronix Inc. (NASDAQ: NAOV)
Up by around 7% at midday are shares of NAOV stock. It’s worth noting that we’ve covered NAOV stock quite a few times in the past month or so. However, if you’re unfamiliar, let’s go over what the company does. NanoVibronix is a biotech company developing a wide range of medical devices.
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These devices are aimed at the disruption of biofilms, bacterial infections, pain, and more. It utilizes its patented low-intensity surface acoustic wave technology which can be used by patients at home with no medical assistance. Last week, the company announced that it applied for a Centers for Medicare and Medicaid (CMS) reimbursement code for its UroShield and PainShield Plus devices. This is big news for the company and could lead to better adoption of its products in the market.
We took the first opportunity in 2021 to apply for a CMS reimbursement code for UroShield and PainShield Plus as a next step towards seeking to materially increase the number of providers who may prescribe our proven effective devices as therapies for patients, particularly the many millions of Medicare beneficiaries.”
Brian Murphy, CEO of NanoVibronix
So, while it may take some time for investors to see the full effect of this deal, there’s no doubting that it has a heavy impact on NAOV stock right now. Considering this, will it be on your penny stocks watchlist?
Camber Energy Inc. (NYSE: CEI)
Up by around 4.8% at midday are shares of the energy penny stock, Camber Energy. Today’s gain for CEI stock comes on the back of an exciting announcement made during pre-market trading. But before we get into it, let’s talk about what CEI does. Camber Energy is an energy company with ownership interests in oil and natural gas assets across both the Gold Coast and mid-Continent regions. With its subsidiary, Viking Energy Group Inc., CEI is able to participate in many different areas of the energy sector.
Today, Camber announced that it had acquired a 60.5% stake through its subsidiary in the company Simson-Maxwell Ltd. Simson is a producer of industrial engines and power generation products as well. With over 80 years of history in the industry, Camber sees this as a smart play for its future.
“We are very excited to be working with Remora and the entire Simson-Maxwell team, and look forward to further strengthening an already-established platform and recognizable brand to position the company for additional expansion throughout North America through the remainder of this year and beyond.”
CEO of Camber, James Doris
While acquisitions do occur often in the energy sector, they are always important for investors to consider. With this deal, the hopes are that the two companies can begin to improve respectively. With all of this in mind, will CEI stock be on your watchlist this week?
Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
Another decent gainer of the day and a penny stock that we’ve discussed frequently in the past few months is SOLO stock. Electrameccanica is a producer of environmentally friendly cars or EVs, geared at the commuter market. While many big-name EV brands are trying to replace traditional cars, SOLO is working to carve out its own niche. In addition to commuting, SOLOs cars are used for delivery, shared mobility, and more.
At the end of last week, ElectraMeccannica announced a tour with the former Governor of Michigan and U.S. Secretary of Energy, Jennifer Granholm. This came alongside Biden’s announcement of the over $1 trillion spending package, which includes sizable funding for EVs. CEO of Electrameccanica,
“To have the Energy Secretary and former governor of Michigan experience and learn about our flagship SOLO EV in person is a distinct privilege. We believe the SOLO is the perfect choice for consumers, commercial customers, fleet applications, and SOLO share as well. We’re grateful that our vehicle engineering partner FEV was able to organize this special event to showcase our vehicles and others yesterday in Michigan.”
Paul Rivera, CEO of Electrameccanica
As stated before, the idea that it has one unique market rather than trying to compete with the EV giants is something that could be a benefit to investors. Considering this, is SOLO stock worth adding to your watchlist?
Celsion Corp. (NASDAQ: CLSN)
YTD, shares of CLSN stock are up by a solid 40% or so. And while this may not seem like anything to write home about, it is important to consider. Ahead of its fourth-quarter financial results which will be reported on August 12th, let’s take a closer look at the company. Celsion is a company that engages in the biotech field, offering DNA based immunotherapies including
Its PLACCINE trial is going on right now, and is a non-viral vaccine delivery technology. In addition to this, the company states that it is actually working on discovering new molecules with its dedicated team of scientists. Only a few weeks ago, the company announced positive results from its OVATION 1 study of GEN-1 for advanced ovarian cancer.
“We are delighted that our OVATION 1 study has been published in the Journal of Clinical Cancer Research. As patients with advanced ovation cancer have a poor prognosis these data are particularly encouraging. We believe that this publication will create additional awareness of the work we are doing to treat these patients and provide them with new hope.”
Nicholas Boris, M.D., CMO of Celsion Corp.
If we consider that Celsion has quite a lot in its pipeline right now, we see a clear reason why it could be worth watching. So, whether or not it deserves a spot on your watchlist is up to you.
Which Penny Stocks Are on Your Watchlist Right Now?
Finding the best penny stocks to buy in 2021 is all about understanding where the market is headed. With so many different factors occurring simultaneously, it appears as though there is movement to take advantage of.
However, investors should have a thorough understanding of their own trading strategy and how to use it as an advantage. Considering this, which penny stocks are on your watchlist right now?