With penny stocks in focus, investors continue to watch the volatility of the entire stock market take over. And, while one day stocks are down substantially, the next, we can see major bullish momentum. This is characteristic of both penny stocks and the stock market as a whole in 2021. As we come to the end of May, there is plenty of value to be had on the entire list of penny stocks. But, it all comes down to knowing where to look.
Right now, there are a few areas that investors should consider for their penny stocks watchlist. This includes tech stocks, biotech stocks, blockchain stocks and more. However, given that there are thousands of penny stocks to buy, how do we know which ones could be worth watching?
While, the best way to start is by making a penny stock watchlist. This will help to narrow down your choices, and offer a way to navigate these uncertain times. Looking at big daily gainers can also help to show you which companies are in focus right now.[Read More] 5 Penny Stocks To Watch Right Now That Analysts Are Bullish On
And, investors should consider the current state of stocks and what factors are affecting both individual industries and the entire stock market as a whole. Considering this, there are plenty of penny stocks showing potential right now. And with the right tools at your disposal, finding them can be easier than previously imagined. With this in mind, let’s take a look at some of the top penny stocks to watch right now.Top Penny Stocks to Watch in 2021
- Uxin Ltd. (NASDAQ: UXIN)
- Aehr Test Systems (NASDAQ: AEHR)
- Immutep Ltd. (NASDAQ: IMMP)
- Onconova Therapeutics Inc. (NASDAQ: ONTX)
When it comes to tech penny stocks, Uxin Limited has been a big gainer recently. Uxin is an investment holdings company that operates a used car e-commerce platform in China. The company provides a selection of used cars, evaluates conditions, and offers support services through the Uxin brand. It also has an online auction site called Uxin Auction.
The company has recently caught attention after the release of its unaudited third quarter 2021 financial results. It also experienced a decrease in total revenue due to decreases in 2C transaction volume because of its business model transformation. This transformation includes shifting to a car ownership model rather than selling unowned vehicles. But its revenue recognized on a gross basis grew.
Mr. Kun Dai, the Founder and CEO of Uxin said, “China’s used car market has huge growth potential and the Chinese government continues to introduce preferential policies for the industry. The value-added tax on used car sales has been cut to 0.5% from 2% in May 2020. The General Office of the State Council has recently required all regions to remove restrictions on cross-regional transactions and title transfers of used cars.”
UXIN stock has experienced a stock price growth of more than 172% in the last month. These are huge numbers for a stock, let alone a penny stock. The company now has a stock price of around $3.30 per share as of May 19th. With this in mind, will you add UXIN to your list of penny stocks to watch?2. Aehr Test Systems (NASDAQ: AEHR)
Next up on this list of penny stocks comes Aehr Test Systems. This tech penny stock designs, engineers, manufactures, and sells test equipment for the semiconductor industry. Its products are sold in the U.S., Asia, and Europe. It provides full wafer contact test systems, burn-in systems, and much more.
The semiconductor industry has experienced a huge shortage which could be contributing to Aehr’s success at the moment. Most popular gaming consoles and graphics cards are out of stock to consumers even a year after release. Computers and other products such as electric vehicles, that use semiconductors are in the same boat with huge shortages impacting the industry.
As you know when there is a shortage, demand goes up which brings semiconductor prices up as well. There is no recent company specific news that is making AEHR stock increase by these sizable numbers. But we can look at its latest financial results to see what direction the company could be headed in. While it did report a net loss, its other financials were quite good.
“Our bookings of $8.0 million during the third quarter is our highest bookings quarter in over a year and includes two customer orders for our FOX-XP™ test cells. One of these orders is from an existing customer for a partially populated FOX-XP multi-wafer test and burn-in system and multiple WaferPak™ Contactors to begin volume production of their high-performance silicon photonics devices.”President and CEO of AEHR, Gayn Erickson
With all of this in mind, will AEHR make your list of tech penny stocks to watch?3. Immutep Limited (NASDAQ: IMMP)
Immutep is a biotech penny stock that engages in the research and development of pharmaceutical product candidates. It currently develops immunotherapeutic products to treat cancer and autoimmune diseases. Its main product is IMP321 which is a recombinant protein in Phase IIb clinical trials, is a chemo-immunotherapy combination for breast cancer.[Read More] Biotech Penny Stocks Pushing Up During The Crypto Crash, One Up 25%
The company’s most recent update comes from May 7th, when it provided new operational info. It announced that new data from its TACTI-002 and INSIGHT-004 studies will be reported at ASCO in June of this year.
The company stated that it is in a robust financial position with a cash runway into 2023. It also stated that its TACTI-003 Phase IIb clinical trial is 1st in line for treating head and neck cancer. Currently the clinical study will have 154 patients using the therapeutic at up to 35 clinical sites.
Additionally, its upcoming ASCO meeting is likely when we will see the next update from IMMP. With all of this in mind, will you add it to your list of penny stocks to watch this week?4. Onconova Therapeutics Inc. (NASDAQ: ONTX)
Another trending biotech penny stock to watch is Onconova Therapeutics. For some context, let’s talk about what ONTX does. Onconova is a clinical stage biotech company that discovers and develops novel products to treat cancer. The company has proprietary anti-cancer agents that disrupt cellular pathways that are important for cancer cell proliferation.
One of its proprietary compounds is a multi-kinase inhibitor known as ON 123300. This compound works by targeting tyrosine kinases. Its rigosertib candidate is another product in the works, with potential for patients with non-small cell lung cancer.
On May 17th the company reported its first quarter 2021 financial results and also provided a business update. It announced that its Phase I ON 123300 study is ongoing with no dose-limiting toxicities observed in the first two cohorts.
“We are off to a strong start in 2021 and remain focused on advancing our clinical programs, in particular with our lead product candidate ON 123300, a multi-kinase inhibitor that potently targets CDK 4 and 6, which are overexpressed in a number of cancers, including HR+ HER 2- metastatic breast cancer, a potential blockbuster commercial opportunity.”President and CEO of Onconova, Steven M. Fruchtman
ONTX stock price has gone up more than 70% in the last 5 days showing bullish sentiment to investors. Will you add this company to your list of penny stocks to watch?Are These the Top Penny Stocks to Buy in 2021?
Finding the best penny stocks to buy in 2021 can be challenging if you don’t know where to look. But, with the right inspiration and tools at your side, it can be easy to make a competitive watchlist. Right now is an interesting time to be investing in the market.[Read More] Best Penny Stocks to Invest in 2021? Here’s 3 To Check Out
And because of this, there is the chance for both big gains and big losses. The key to finding profitability is to understand what type of investor you are, and what education you need to be the best at it. Considering this, are these the top penny stocks to buy in 2021? The choice is yours.