Why These Penny Stocks Could Be Worth Watching After the Crypto Spike
In the past few weeks, we’ve witnessed a solid bullish turnaround with penny stocks. Prior to this, the market had been mostly down and or sideways, with major uncertainty about the future. While we are not out of the woods yet, many believe that the pandemic is ending, and this positivity could reflect into the market.
Yesterday, investors saw a major crash among several popular cryptocurrencies. This resulted in both Bitcoin and Dogecoin dropping in the double-digit percentage points in only a few hours. However, overnight, things seemed to turn around with both showing solid gains to start the day.
So, in Summer 2021, there are plenty of penny stocks to watch as market momentum begins to pick up. It all comes down to knowing where and how to find value in the stock market. But, with thousands of penny stocks to buy, the options are endless. This article is a continuation of ‘5 Penny Stocks To Watch Right Now That Analysts Are Bullish On’.
5 More Penny Stocks That Investors Are Bullish On Right Now
- Bioscept Inc. (NASDAQ: BIOC)
- ENGlobal Corp. (NASDAQ: ENG)
- InspireMD Inc. (NASDAQ: NSPR)
- Transocean Ltd. (NYSE: RIG)
- Luokung Technology Corp. (NASDAQ: LKCO)
6. Biocept Inc. (NASDAQ: BIOC)
Biocept Inc. is a biotech penny stock that focuses on early-stage molecular oncology diagnostics. It develops and commercializes proprietary circulating tumor cells and circulating tumor nucleic acid assays utilizing a standard blood sample. Its cancer assays give information to healthcare providers in order to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy.
Furthermore, Biocept is developing PCR-based assays for detecting the COVID-19 virus. Currently, Biocept also has a partnership with CLEARED4 to develop a system for tracking and managing COVID-19 testing requirements and test results. Because the pandemic has been such a large topic in the last year, it has brought a lot of new attention to BIOC stock.
On June 22nd, the company announced that it has partnered with Quest Diagnostics to provide advanced NGS-based liquid biopsy testing for patients with lung cancer.
Michael Nall, the President and CEO of Biocept said, “We are pleased to expand Biocept’s relationship with Quest Diagnostics, as we believe its expertise and reach will allow us to serve more patients and potentially grow our customer base.” With its current developments in mind, will you add Biocept Inc. to your list of penny stocks to watch today?
7. ENGlobal Corporation (NASDAQ: ENG)
ENGlobal Corporation is an industrial penny stock that provides engineering and automation services to the energy sector in the United States. Its EPCM segment gives multi-disciplined engineering services relating to the development, management, and execution of projects. These projects require professional engineering and management services.
This company has been performing very well in the market lately, is one that we have mentioned quite a few times in the past couple of months. So, what is driving its stock price upwards? ENGlobal was selected to join the Russell Microcap Index on June 17th. The membership, should help to provide a great deal of value and notoriety to ENG stock.
“We are pleased to have been selected for addition to the Russell Microcap® Index. We believe this addition validates the stability of our business and our future business prospects and will be an added opportunity for us to heighten investor awareness as we work to build shareholder value.”
Chief Executive of ENGlobal, Mark Hess
Considering this, will you add ENG to your penny stocks watchlist as it picks up momentum in the market?
8. InspireMD Inc. (NASDAQ: NSPR)
InspireMD Inc. is a biotech company that creates medical devices. The company develops and commercializes proprietary MicroNet stent platform technology to treat vascular and coronary diseases. Its CGuard carotid embolic prevention system is used in carotid artery applications. Additionally, its MGuard Prime embolic protection system is used in those with acute coronary syndromes.
The latest update from InspireMD came from June 9th when the company presented at the LD Micro Virtual Invitational Conference. Other than this, the company has not released any new news updates in the past month or so. So why is InspireMD stock price going up in the market? This can be attributed to the large gains being made in the biotech sector in general at the moment alongside its placement as a meme stock. While this does make it rather speculative, NSPR stock could be worth watching in the coming months.
9. Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a penny stock that provides offshore contract drilling services for oil and gas wells worldwide. The company contracts its drilling rigs and equipment, as well as work crews to drill oil and gas wells. As of February 22nd, 2021 the company owned or had partial ownership interests in and operates a fleet of 37 mobile offshore drilling units. This includes 27 ultra-deepwater and 10 harsh environment floaters.
The company has unveiled its plans to raise as much as $400 million through a large new share scale. It will be cashing in on the “meme stock” frenzy that has sent its stock price soaring in the market. Meme stocks are stocks that are highly popularized and trending because of social media conversations. Usually, these are heavily discussed penny stocks on Reddit and Twitter. In 2021 so far, RIG stock has nearly doubled in stock price. This has caused many investors to take a new interest in the company. With this in mind, will RIG stock be on your watchlist moving forward?
10. Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology Corp. is a tech penny stock that provides location-based services and mobile apps for long-distance travelers in China. Its Luokuang mobile application is a content and service distribution platform providing both content and services to consumers in China.
This includes e-commerce, travel, and entertainment, and many others. It also offers software development kits and application programming interfaces which round out its business model in the tech industry. On June 18th the company announced its subsidiary eMapgo’s contract win for a new generation traffic control network and smart highway demonstration project.
“We are excited about EMG’s selection as the provider for this innovative smart highway project in Jiangxi, which we believe is a testament to our leading position in Spatial-Temporal data processing technology and high-precision map data service capabilities.
This is a new generation traffic control network and smart highway demonstration project, and Changjiu Expressway would be China’s first highway that is based on this new intelligent management system, which supports road coordination and a V2X operating system.”
Chairman and CEO of Luokung, Mr. Xuesong Song
So will you add LKCO stock to your watchlist after this recent announcement caused its share prices to increase?
Which Penny Stocks Are on Your Summer Watchlist?
Finding the best penny stocks to watch can be challenging. However, with the right information and a strategy on hand, it can be much easier than previously imagined. While there are plenty of options out there, only a handful have true intrinsic value.
To determine this investors need to spend a great deal of time researching every penny stock on their watchlist. With all of this in mind, which penny stocks are on your list this Summer?
To read about the other four stocks on this list, head to 5 Penny Stocks To Watch Right Now That Analysts Are Bullish On