Best Penny Stocks to Buy Today? 4 You Need to Watch Right Now

4 Hot Penny Stocks to Watch Today 

Tech & biotech penny stocks have remained some of the hottest small-caps of the past year and a half. And, there are a few reasons for that. For one, penny stocks in the tech sector are constantly innovating to stay competitive in the industry. And as a result, constant innovation and announcements usually ensue. 

This means frequent price movements and equally frequent opportunities for swing traders to make money with penny stocks. Second, during the pandemic, the demand for tech products shot up dramatically. This is the result of work-from-home, educate-from-home, and the general emphasis on tech in that time. 

Lastly, the sheer amount of options for traders to pick from means that there are penny stocks for all types of investors. And when it comes to trading penny stocks, the more options the better. Aside from all of this, traders should have a thorough understanding of what their investing goals are. This means knowing the term in which you intend to hold a stock, and what your threshold for risk is. 

[Read More] Hot Robinhood Penny Stocks With High Volume in August

Right now, the entire stock market is quite volatile. This is the result of Covid and other world events that are causing sizable upswings and downtrends in the market regularly. So stay up to date with the news, and understand where the market could go in either the short or long term. With all of this in mind, let’s take a look at four penny stocks to watch right now. Will they be the best to buy now? I’ll leave that up to you to decide.

Best Penny Stocks To Buy [or avoid] Right Now 
  1. Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)
  2. Boxlight Corp. (NASDAQ: BOXL
  3. Sonim Technologies Inc. (NASDAQ: SONM
  4. Phunware Inc. (NASDAQ: PHUN
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)

When some people look for penny stocks to buy, they’ll “bottom-feed.” In this case, some of the most heavily sold names will be the most highly searched. Tonix Pharmaceuticals is one of the examples. But why would it be on the penny stocks watch list right now?

This week, news from the company has sparked interest in TNXP stock. In particular, the company announced the results of a Pre-IND meeting with the FDA. This was for its TNX-102 SL as a possible treatment for Long COVID Syndrom. This is one of the concerning parts of actually contracting the virus: what happens later in life. Some who get COVID-19 experience other severe symptoms long after they’ve made it through the actual illness period. Some symptoms include pain, trouble sleeping, fatigue, brain fog, and other anomalies.

In the case of Tonix, the purpose of the meeting with the FDA was to identify a design for a Phase 2 study and the overall clinical development plan to qualify TNX-102 SL as an indicated treatment for a subset of patients affected by Long COVID. Based on the meeting, Tonix is now planning to submit the IND next quarter to support a Phase 2 study for managing a set of Long COVID patients whose symptoms overlap with fibromyalgia.

With the timing of this news overlapping with attention on coronavirus stocks following Pfizer’s FDA approval, TNXP stock could be one to watch right now.

best penny stocks to buy right nowBoxlight Corporation (NASDAQ: BOXL)

Boxlight is a tech company with a focus on educational products. It develops, sells, and provides services for interactive classroom solutions. The services that Boxlight offers are primarily for the K-12 market in the United State. Boxlight’s items include smart projectors, flat panel displays, touch boards, and much more. During the pandemic, the educate-from-home trend became extremely widespread. And as a result, companies like BOXL have seen heightened investor attention. 

When August 12th came around, Boxlight reported its second-quarter results for 2021. The company’s revenue increased by an impressive 497% in the quarter to $46.8 million. This is due to Boxlight’s customer orders increasing by 986% year over year in the second quarter. Chairman and CEO Michael Pope said, “Entering our seasonally strongest quarter, we expect to report the third quarter with revenue of $60 million, Adjusted EBITDA greater than $7 million and positive Net Income.” 

[Read More] Pfizer-BioNTech Vaccine FDA Approval, 7 Things To Know & 3 Penny Stocks To Watch

The release of these financial results caused a large uptick in BOXL stock price. Before the announcement, BOXL was at $1.92 per share on average. Now on August 20th, just 8 days later, BOXL’s stock price is at $2.08 per share. At one point in the last 10 days, BOXL stock even reached around $2.40 per share on average. With this information in mind, will BOXL stock be on your August penny stocks watchlist?

Penny_Stocks_to_Watch_Boxlight_Corporation_BOXL_Stock_ChartSonim Technologies Inc. (NASDAQ: SONM)

Sonim Technologies Inc. is a penny stock that we have discussed numerous times in the past few months. If you’re unfamiliar, this company makes ruggedized mobile phones and tablets for the industrial sector. The company’s many products include the Sonim XP3, XP5s, XP8, RS60, and more. These products are sold to industries such as construction, manufacturing, transportation, energy, and more.

On August 16th, Sonim reported its second-quarter results for 2021. Sonim’s gross profit increased 8% sequentially over the first quarter. Its GAAP net loss improved to $6.7 million from $9.3 million in the first quarter of this year. Sonim’s revenue did fall during the quarter, from $12.2 million to $12 million. This is a solid improvement for the company and one that is reflected in its recent trading action. 

“Sonim has made significant progress preparing for the third-quarter launch of the first of our next-generation devices, an enhanced version of our highest volume feature phone. We expect this launch to be the start of a series of planned launches of products over the coming quarters, including the fulfillment of the two design awards at a major US carrier that we previously announced.”

President and CEO of Sonim, Bob Tirva

Just one week later, SONM stock is up 0.36% in the market on August 23rd. Whether the above information makes SONM stock worth adding to your list of penny stocks to watch is up to you.

Penny_Stocks_to_Watch_Sonim_Technologies_Inc_SONM_Stock_Chart_jpgPhunware Inc. (NASDAQ: PHUN)

Phunware Inc. is a tech penny stock that has been going up in the market. During trading on August 23rd, shares of PHUN stock pushed up by over 5%. If you haven’t heard of Phunware, this company provides software to give companies the ability to manage mobile applications. Its software gives the ability to engage with and monetize these mobile applications. Phunware’s products include cloud-based mobile software, content management, marketing automation, and much more. On August 23rd Phunware made a big announcement, likely resulting in its big gain on the same day.

The company announced a partnership with HID Global to deliver its “Smart Workplace Solution” product to customers using HID’s access control solutions. Phunware’s software provides contactless digital access, employee directory, check-in, prescreening, and much more. These are all things that have become increasingly more important in this pandemic environment.

“Our integration with HID Origo will accelerate organizations to become more efficient and secure while Phunware will enable a more frictionless office experience by turning every mobile device into a mobile concierge.”

The President, CEO, and Co-Founder of Phunware, Alan S. Knitowski

As individuals return to work, software additions like these could be extremely useful. And as a result, PHUN stock could see more attention in the coming months. Considering this, PHUN stock could be worth adding to your watchlist this month. 

Penny_Stocks_to_Watch_Phunware_Inc._(PHUN_Stock_Chart)Are Penny Stocks Worth it or Not?

The short answer to this question is that it all comes down to what type of investor you are. If you are looking to invest in the long term, there are certain penny stocks that could be worth it. And on the other hand, if you’re looking for short-term gainers, other penny stocks may be right for you.

[Read More] Top Penny Stocks To Buy Now? 3 For Your Watchlist This Week

But to understand whether they’re worth it or not, you have to ask yourself two questions. First, what type of trader are you? And second, what is your tolerance for risk? Considering all of this, are penny stocks worth it or not?

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.