With a new month for penny stocks only a few days away, many investors are excited about the potential that a clean slate could bring. Historically, September has never been a well-performing month for both penny stocks and blue chips. And September 2021 does not bring a different story. However, with bullish sentiment creeping its way back into the market, there is a lot of hope that October could be better.
Right now, dropping Covid cases in many areas around the world mean that investors could feel more confidence in the future of the stock market. And while the pandemic is still around, the severity of it is lessening every day. Right now, there are several industries that investors are focused on.
This includes energy penny stocks, biotech penny stocks, and a few others. But, in order to understand the complete list of penny stocks that could have value, it’s best to take a deep dive into the market. This means looking at the news, and understanding how it could affect certain penny stocks or industries at large.
But, with hundreds of penny stocks to choose from, it also depends on your own unique investing style. So, if we consider all of this, we see that the stock market is ripe with potential right now. With that in mind, let’s take a look at three hot penny stocks to watch with October only days away.3 Penny Stocks to Watch in October 2021
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Seelos Therapeutics Inc. (NASDAQ: SEEL)
- Centennial Resource Development Inc. (NASDAQ: CDEV)
Vinco Ventures Inc. is a former penny stock that has climbed by over 103% in the past six months. The majority of these gains occurred toward the end of August, bringing BBIG stock to over $10 per share from just $2 only a few weeks earlier. For those unfamiliar, Vinco Ventures is a company that offers consumer product research and development services. In addition to these services, Vinco also offers manufacturing, sales, and fulfillment of its products. The company’s product lineup includes toys, homeware items, electronics, and much more. These products are sold through distributors and e-commerce sites.
On September 21st, the company announced that its subsidiary Emmersive Entertainment has launched its first NFT streaming movie soundtrack. This first soundtrack includes artists Anderson .Paak, CeeLo Green, and Kota the Friend among others. This will be the soundtrack for the movie Karen, and will be available exclusively on e-nft.com.
When asked why the soundtrack would be offered as an NFT, the producers of the album Om’Mas Keith and Adrian L. Miller said, “the landscape ripened for interactive soundtracks giving fans and audiences a more immersive and intimate experience. With that in mind, we partnered with Emmersive Entertainment to make it happen!” On September 27th, BBIG stock went up in price substantially, which reflects the bullishness surrounding the company right now. With this new info in mind, will BBIG make your list of penny stocks to watch?Seelos Therapeutics Inc. (NASDAQ: SEEL)
Seelos Therapeutics Inc. is a biotech penny stock that managed to climb by over 14% by EOD on September 27th. This is a company that develops and commercializes therapeutics for treating the respiratory system, central nervous system, and more. One of its lead programs is SLS-002 which is for treating acute suicidal ideation and behavior in those with major depressive disorders. It also has SLS-008 for treating patients with chronic inflammation in asthma and pediatric orphan indications.[Read More] Top Penny Stocks To Watch Under $1 In October 2021
On September 21st, the Sean M. Healey & AMG Center for ALS at Mass General reported some big news. The company announced that it has received approval from the FDA and the Mass General Brigham Institutional Review Board to add Seelos’ SLS-005 as an additional regimen in the HEALEY ALS Platform Trial. HEALY worked with Seelos to include the Phase 2b/3 trial in amyotrophic lateral sclerosis on the platform.
Following this announcement, SEEL stock has had a great week in the market. In the past five days, shares of SEEL stock have shot up by over 23%. The company’s volume is also more than five times higher than its average at the moment. With so much to keep in mind, is SEEL a contender for your penny stock watchlist next month?Centennial Resource Development Inc. (NASDAQ: CDEV)
Centennial Resource Development Inc. is another former penny stock that only traversed the $5 mark a few weeks ago. And given that we’ve covered it so many times in the past, it’s a great case study for how a company can leave penny stocks territory.
By EOD on September 27th, shares of CDEV stock had shot up by almost 10%. For some context, CDEV is an oil and gas company that owns a sizable number of development properties in the U.S.. Centennial’s main focus is developing unconventional oil and associated liquids-rich natural gas reserves. As of December 31st, 2020, the company acquired or leased about 81,657 net acres of land in total.
On August 3rd, the company released its second-quarter results for 2021. In this quarter, Centennial Resource Development reported record free cash flow and reduced its total debt outstanding. It also increased its daily crude oil production by 13% compared to the previous quarter. Its net cash from operating activities was $107.3 million, and its free cash flow was $34.2 million.
“Centennial’s second-quarter results prove our ability to generate substantial free cash flow through our two-rig drilling program. For the remainder of the year, our primary focus is free cash flow generation and organic de-leveraging, both of which are occurring at a more rapid pace than originally anticipated.”The CEO of Centennial Resource Development, Sean R. Smith
With the bullish momentum that CDEV stock is witnessing right now, it looks like it could be worth keeping an eye on. Considering this, will CDEV stock make your September watchlist?Are Penny Stocks Worth Buying in 2021?
Finding the best penny stocks to buy right now is all about understanding where the market is headed. As stated earlier, having a thorough understanding of stock market-related news and geopolitical events can help to give you a competitive edge.
And with so much momentum right now, making money with penny stocks is all about who has the best information. Considering all of this, do you think that penny stocks are worth buying in 2021 or not?