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Top Penny Stocks to Watch as the Market Turns Bullish Today 

3 Penny Stocks to Watch With the Market Taking a Bullish Turn 

While the market got off to a less than stellar start for both penny stocks and blue chips, by midday, it completely turned around. At around 12:30 PM EST, the Dow Jones and the NASDAQ Composite were up by around 160 points and 140 points respectively. 

This comes only a day after a dismal inflation report resulted in major bearish sentiment all around the stock market. So, with all this movement occurring with penny stocks right now, which industries are investors focused on? Well, there are quite a few that could be worth paying attention to. 

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First off in no particular order are biotech penny stocks. The biotech industry has been on fire ever since the start of the year, and it shows no signs of slowing down anytime soon. Next, we have mining stocks, which have begun to show major bullish sentiment in the past few weeks. And lastly, we have reopening penny stocks or those that could continue to benefit as the pandemic lessens in severity. 

While this is not a complete list by any means, it should be enough to put you on the right track. With that in mind, let’s take a look at three penny stocks to watch as the market takes a bullish turn. 

3 Penny Stocks to Watch Right Now 

Muscle Maker Inc. (NASDAQ: GRIL) Sesen Bio Inc. (NASDAQ: SESN) New Gold Inc. (NYSE: NGD

Muscle Maker Inc. (NASDAQ: GRIL)

Muscle Maker Inc. is a penny stock that has climbed by a sizable 27% in the last five days. Despite a YTD loss of around 29%, shares have been rising in several recent trading sessions. This company operates restaurants all over the United States. Primarily, Muscle Maker runs the Muscle Maker Grill and Healthy Joe’s restaurants. The company also runs Meal Plan AF, Burger Bar, Wrap It Up, and Gourmet Sandwich among others. As of December 31st, Muscle Marker had 16 company-owned and 16 franchised restaurants in the U.S. and Kuwait.

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On November 11th, the company’s Pokemoto division signed a deal with Franserve. Franserve is the world’s largest franchising firm frequently used in the restaurant industry. Franserve actively has 600+ franchise sales consultants to help boost Pokemoto’s efforts. Pokemoto recently announced 5 new franchise agreements all over New York. These new agreements will grow its division by 28%.

“Partnering with Franserve, an organization focused on connecting franchisors like us with qualified leads puts 600+ franchise sales consultants in our corner along with numerous other resources and benefits which we’re already taking full advantage. We’ve already begun executing against our growth strategy by opening five new locations and signing up five new franchise locations in a short period of time.”

The CEO of Muscle Maker, Mike Roper

Based on this latest update, will GRIL be on your list of penny stocks to watch?

Sesen Bio Inc. (NASDAQ: SESN)

Sesen Bio Inc. is a biotech penny stock that has climbed by over 42% in the past month. This company creates a wide range of products for patients suffering from different types of cancer. Sesen is involved in the design, engineering, development, and commercialization of targeted fusion protein therapeutics. Currently, it is developing Vicinium which is in Phase 3 clinical trials to treat bladder cancer. It also is studying this product combined with Durvalumab which is in Phase 1 clinical trials.

On November 8th, the company reported its financial results for 2021. Sesen’s cash and cash equivalents totaled $175.3 million compared to $55.4 million at the end of last year. The company also experienced lower R&D expenses because of lower costs associated with technology transfer and manufacturing. Sesen experienced a high net income during this quarter compared to a net loss in the same period in 2020. These results are highly positive and show that Sesen is working hard to continue growing.

“We remain dedicated to saving and improving the lives of patients, and we look forward to continuing to work collaboratively with the FDA in our upcoming Clinical Type A Meeting, expected later this year, to carry our mission into the next stage of the regulatory process and beyond.”

The President and CEO of Sesen, Dr. Thomas Cannell

Right now, there is a major focus on biotech penny stocks. And while the pandemic has slowed down substantially in severity, many investors are still looking for opportunities that could be worth it in both the short and long term. With this in mind, will SESN be on your penny stock watchlist next week?

New Gold Inc. (NYSE: NGD)

New Gold Inc. is a penny stock we frequently mention on this site due to its momentum in the market. And again on November 12th, shares of NGD climbed, with a 9.5% gain at 12:30 PM EST. This brings its five-day and one-month gain to over 15% and 32%, which is no small feat. If you’re not familiar, New Gold Inc. is a mining company that is based in Toronto Canada. New Gold develops and operates various gold-focused mineral properties located all over the country. Primarily, it operates the Rainy River gold-silver mine in Ontario as well as the New Afton mine in British Columbia, Canada.

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On November 12th, the company reported its third-quarter results for 2021. New Gold announced that it is on track to achieve its updated consolidation production and cost guidance for 2021. It experienced total production of 105,628 gold equivalent ounces during this quarter. For the nine months ended September 30th, 2021, it experienced gold equivalent production of 307,359 gold equivalent ounces. Financially, the company brought in around $180 million in revenue, with an $11 million net loss ($0.02 per share). What’s more, is that it ended the quarter with a cash position of around $151 million and $477 million in liquidity.

“On a consolidated basis, all-in sustaining costs were down over 9% compared to the first half, with Rainy River’s all-in sustaining costs improving by almost 16%. We continue to expect an improvement in fourth-quarter production from Rainy River with a lower contribution from the East Lobe.”

President and CEO of New Gold, Renaud Adams

All of this is exciting news for the company and investors alike. As a result of the positive investing environment around gold right now, NGD continues to be in focus for many investors. Whether this makes NGD stock worth adding to your list of penny stocks to watch or not is up to you. 

Can Penny Stocks Continue to be Bullish?

With so much movement in the stock market right now, there are quite a lot of fluctuations for investors to take advantage of. As a result, if you have a solid trading strategy and research by your side, making money with penny stocks is entirely possible in 2021. Considering that, do you think that penny stocks can continue to be bullish in the next few months?

The post Top Penny Stocks to Watch as the Market Turns Bullish Today  appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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