Are These 3 Penny Stocks On Your Watchlist This Week?
With a new week and a new month dawning on penny stocks investors, how can we find the best companies to watch? Well, the short answer is that it fully depends on what type of investor you are and what your portfolio strategy is.
In addition to this, we have to consider the current state of the pandemic and what that could look like in both the short and long term. As of right now, the new Delta variant seems to be taking a violent grip on the world, with case numbers increasing in most countries worldwide.
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But, as we’ve seen previously, these waves quickly spike, and then are followed by large drops shortly after. The hopes are that this is the case and in the U.S. at least, more than 50% of the country is fully vaccinated. However, there is no doubt that this will continue to have an effect on the stock market for now and into the foreseeable future.
For this reason, it is important to adjust our strategies to fit the current landscape. This means potentially searching for reopening penny stocks or others that could benefit from the state of the world right now. With all of this in mind, let’s take a look at three penny stocks to watch for this coming week.
3 Penny Stocks For Your August 2021 Watchlist
- Hut 8 Mining Corp. (NASDAQ: HUT)
- Seelos Therapeutics Inc. (NASDAQ: SEEL)
- Datasea Inc. (NASDAQ: DTSS)
Hut 8 Mining Corp. (NASDAQ: HUT)
Hut 8 Mining Corp. is a tech penny stock that is moving upwards in the market right now. This is a cryptocurrency mining company that owns industrial-scale Bitcoin mining operations. The company owns and operates 94 BlockBoxes as well.
On June 30th, Hut 8 Mining Corp. announced the purchase of 12,000 new MicroBT miners to be deployed by the end of the fourth quarter of 2021. The CEO of Hut 8 Mining, Jaime Leverton said, “We are excited to have identified this unique opportunity to purchase MicroBT equipment that will enable us to almost double our hashrate before the end of the year and substantially increase the number of Bitcoins earned on a daily basis”
One month ago, HUT stock was at $3.70 per share on average. Now the company’s stock price is at $4.05 per share on average. For just one month, this is great progress for a penny stock. And, we have to consider that since it is correlated to Bitcoin, it can be much more volatile than others. In addition, it will often trade in tandem with that of bitcoin and cryptocurrency. So keeping this information in mind, will you add HUT to your list of penny stocks to watch?
Seelos Therapeutics Inc. (NASDAQ: SEEL)
One biotech penny stock that could be worth watching is Seelos Therapeutics Inc. This is a company developing therapeutics and treatments for the central nervous system. It’s worth noting that Seelos also develops therapeutics for the respiratory system, which has come into focus considering the nature of the pandemic. One of its programs, SLS-005 is a protein stabilizer to treat Sanfilippo syndrome. It also is in studies for its compound, SLS-006, for patients with Parkinson’s disease.
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Recently, Seelos announced that it will participate in multiple investor conferences next month. These conferences are the BTIG Virtual Biotechnology Conference on August 9th and 10th; and the Canaccord Growth Conference on August 11th and 12th. The CEO of the company will provide a corporate update and overview of its programs at both events.
Just 14 days ago, the company also announced positive data concerning its SLS-004 gene therapy study utilizing CRISPR-dCas9 for Parkinson’s disease pathology. YTD, shares of SEEL stock are up by a sizable 68% as of July 22nd. And, in the past twelve months, that number shoots up to over 117%. Keeping in mind its recent $6 high, is SEEL stock worth watching?
Datasea Inc. (NASDAQ: DTSS)
It’s not a secret that tech penny stocks have seen tremendous growth this past year. With companies becoming more and more digital every day, online-based penny stocks are very popular right now. In line with this is Datasea Inc. which primarily engages in smart security solutions as well as smart hardware and education-related technologies.
By leveraging its own technology and intellectual property DTSS has been able to provide its clients with the most optimized security solutions as well as comprehensive education products. Additionally, because of the broad scope of its business, Datasea is able to work with many different companies in the tech market. This gives it the best chance of both short and long-term success as a tech penny stock.
Recently Datasea announced that it has agreed to a proposal with institutional investors for a direct offering of securities. This will amount to $8.5 million in gross proceeds which closed only a few days ago. With these funds, DTSS plans to cover general corporate expenses, working capital purposes, and repayment of debt. Paying off debt is seen by investors as a positive move for a company’s financial standings.
And, while DTSS does not have a great deal of debt on its books, there is no doubt that this capital will help in the short and long term. It is also always exciting when a company raises money for current and future endeavors. This shows that it is taking proactive steps to fund its goals. So, with all of this in mind, what do you think of Datasea as a penny stock to watch in August?
Will Penny Stocks Push Up Next Week?
Right now, there is a lot of hope riding on the future of penny stocks. With so many to choose from however, it can be difficult to pick just one or two for your watchlist. But, if we consider what’s going on in the world and use that information to our advantage, finding the best penny stocks to buy can be much easier than previously imagined.
In addition, using a trading strategy will always be in your best interest. Considering all of this, do you think that penny stocks will push up next week?