3 Penny Shares to Watch Proper Now
Whereas 2021 nonetheless has over six months left, penny shares stay at high of thoughts. And to search out the best penny stocks to buy, buyers usually must assume outdoors of the field. It’s price noting that each penny stocks and blue chips have traded largely sideways previously month or so.
This comes after a historic bull run that left many buyers deep within the inexperienced. However, like all issues, the market should right and people who are investing in penny stocks proper now, are feeling the brunt of this.
Nonetheless, whereas blue chips usually comply with the same path all through a buying and selling day, penny shares can commerce independently from the bigger market. It’s because stocks under $5 commerce extra off of hypothesis than anything.
So, if an organization or trade places out information or an announcement, corresponding shares can rise or fall in worth in a short time. Nonetheless, if the S&P 500 is down or up, penny shares gained’t all the time rise and fall in the identical trajectory.
Due to this, even when markets are down, there’s all the time a possibility available with penny shares. And proper now, there are such a lot of various factors at play, that making a priceless penny stocks watchlist is greater than doable. Contemplating all of this, buyers must additionally perceive what’s going on available in the market.
Proper now, this consists of all the things from cryptocurrencies like Bitcoin and DogeCoin shifting wildly, to the continuing pandemic. With this in thoughts, let’s check out a number of the high penny shares to look at at present.
3 High Penny Shares to Watch As we speak
- Colour Star Know-how Co. Ltd. (NASDAQ: CSCW)
- Obalon Therapeutics Inc. (NASDAQ: OBLN)
- TapImmune Inc. (NASDAQ: MRKR)
Colour Star Know-how Co. Ltd. (NASDAQ: CSCW)
Up by round 5% at noon is Colour Star Know-how. CSCW is a tech and NFT penny stock that we’ve been masking for a number of months at this level. For some context, it operates leisure expertise corresponding to AI, blockchain, AR, and extra. The corporate believes that these merchandise would be the way forward for the leisure trade, and it stands on the leading edge.
Not too long ago, the corporate introduced its transfer into the NFT or non-fungible token market. One facet of that is the sale of the film “Guilt” as an NFT. CEO of Colour Star Know-how, Mr. Luke Lu, states that “at the moment, NFT transactions available in the market are very lively, and we’re optimistic concerning the functions of NFT expertise within the leisure trade. The launch of NFT merchandise for a portion of our film “Guilt” belongs to the primary part of our NFT improvement and software.”
Moreover, the corporate introduced solely a day in the past that it has signed right into a Memorandum of Understanding or MOU by way of its wholly-owned subsidiary, Colour China Leisure Co., Ltd., and the South Korean firm, Youa Group.
The objective with that is to collectively develop an NFT software for the Hollywood Movie Pageant in addition to for the Worldwide Movie Pageant databases. Lu states that “ We look ahead to financing the cooperation with Film Planet and Youa Group. The chance to work with a high Hollywood leisure firm and a Korean expertise firm will speed up our personal technological developments.”
Contemplating all of those thrilling updates, will CSCW be in your checklist of penny shares to look at?
Obalon Therapeutics Inc. (NASDAQ: OBLN)
One other massive gainer of the day is Obalon Therapeutics, pushing up by round 15% by noon. Whereas many massive features go with out information, Obalon made an thrilling announcement at present. Again in January, OBLN introduced an all-stock merger with ReShape Lifesciences. After the merger completes, shareholders of OBLN would personal 49% of the mixed firm. This merger has been ongoing for the previous a number of months, resulting in uncertainty about the way forward for the deal.
Nonetheless, at present, Obalon introduced that it urges all stockholders to vote for proposals referring to the merger. And whereas this isn’t a significant deal in itself, it has bigger implications for the way forward for Obalon and the merger with ReShape.
For some context, Obalon is a weight-loss-focused biotech firm based mostly in California. Its flagship product is the primary and solely FDA-approved swallowable, gas-filled intragastric balloon system for the remedy of weight problems. Final week, OBLN reported its Q1 2021 financials.
Within the report, the corporate posted a web lack of $4.2 million, down from $5.3 million in Q1 2020. Moreover, it ended the quarter with round $9 million in money available. Whereas these numbers are usually not outwardly encouraging, they do present that the corporate is working arduous to develop.
And whereas it reported no income because of Covid slowing operations, it goals to additional commercialize this product within the coming months. And with solely $0.4 million in debt proper now, it seems just like the alternatives for it to develop are comparatively giant. With this in thoughts, will OBLN be in your penny shares watchlist?
TapImmune Inc. (NASDAQ: MRKR)
TapImmune Inc. is a clinical-stage oncology firm engaged on the event of T-cell immunotherapies for the remedy of hematological malignancies. It makes use of tumor-specific T-cells that permit the physique to mobilize its defenses. Earlier in Could, TapImmune introduced its Q1 monetary outcomes for 2021.
“We had a productive first quarter supported by our not too long ago accomplished financing, strengthening our general money place and enabling continued development and enlargement of our Multi-TAA pipeline.
As well as, we continued to make robust progress on each the scientific and manufacturing fronts. In March, we dosed the primary affected person within the security lead-in portion of our Section 2 trial in post-transplant acute myeloid leukemia, or AML.”
CEO of TapImmune, Peter L. Hoang
Financially, the corporate managed to lift roughly $56.5 million by way of an underwritten public providing, offering a stable money runway for the foreseeable future. Whereas it did report a web lack of round $8.8 million, that is largely offset by the sizable money steadiness it has proper now.
This yr, oncology-focused corporations have turn out to be extraordinarily standard amongst buyers. And for that reason, shares of MRKR inventory have additionally seen heightened curiosity. So, whereas buyers ought to keep watch over how a lot money TapImmune is utilizing proper now, it seems like it’s in an advantageous place shifting ahead.
Which Penny Shares Are You Watching?
When discovering penny shares to purchase, the perfect place to begin is by understanding what sort of investor you might be. This may also help to slender down the checklist of penny shares you’re watching from the hundreds to just some dozen. And, this can even assist to align your portfolio with the correct amount of threat in your comfortability.
Whereas not all penny shares will probably be winners, utilizing the instruments at your disposal will make it easier to to search out those which might be. Contemplating this, which penny shares are you watching?