With so much movement among penny stocks and the general stock market right now, trading is not easy, to say the least. The uncertainty and fear we are witnessing with both penny stocks and blue chips is nothing new as the pandemic has caused a great deal of volatility in the past year and a half.
But, after an over 700 point drop in the S&P 500 on Monday, July 19th, many investors’ fears came true. This was shortly followed by a sizable gain only a day after as the market corrected itself. And now, on July 21st, we’re watching cryptocurrency soar in early morning trading, which again, adds another layer of volatility into the market.
So, with such a great deal of uncertainty, how can we find the best penny stocks to buy right now? Well, the short answer is to consider what is going on in the world and how certain stocks may be able to benefit. With all of this in mind, let’s take a look at three penny stocks that investors are watching right now.3 Penny Stocks That Investors Are Watching Right Now
- Gaucho Group Holdings Inc. (NASDAQ: VINO)
- Senseonics Holdings Inc. (NYSE: SENS)
- Moving iMage Technologies Inc. (NYSE: MITQ)
One of the most budding industries of 2020 and 2021 has been real estate and investments in property holdings. Gaucho Group Holdings participates directly in this through the development of the Argentinian real estate and consumer marketplace. As a company, VINO has grown in the global e-commerce market. Additionally, it has become a leader in luxury products and experiences. With its hands in fine wines, luxury real estate, hospitality, and even leather products this company is an interesting and alternative penny stock to watch.
Yesterday, VINO announced that it plans to work with a design firm, EDSA, to develop a luxury vineyard and golf project to be known as Algodon Wine Estates Private Estancias. This development is a 4,138-acre property in San Rafael, Mendoza, Argentina.
“We could not be more excited to work with EDSA. We are hiring the best, and we are getting the best, with the goal to potentially bring in a world-class branded 80-120 room hotel with branded residences including our own ‘Algodon’ branded residences.
If we are successful in our effort to partner with a branded luxury name, not only will Algodon be associated with this name, but we expect all the residences associated with the project will see the value of their properties reflect the added mystique of a world-renown luxury name.”Scott Mathis, CEO & Chairman of VINO
While this is only one prospect in Gaucho Group’s pipeline, it is one that could be a big deal for the company’s future. It’s worth noting that it will take some time before this massive undertaking is completed. However, with the luxury market always growing, it could prove beneficial to the company’s bottom line. With this in mind, is VINO stock worth adding to your watchlist?Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech penny stock that sees quite a bit of momentum on a regular basis. For some context, SENS creates and commercializes glucose monitoring systems for those with diabetes.
Its Eversense and Eversense XL products measure glucose levels in those with diabetes, making the process both digital and easy to use. Traditionally, measuring glucose is a relatively invasive process, but the Eversense seeks to change this entirely. The company’s products are sold to patients and healthcare provides via distributors.
On July 2nd, SENS announced equity grants to employees under an inducement plan. Senseonics granted 5 new non-executive employees non-qualified stock options to purchase an aggregate of 66,000 shares. The shares have been priced at $3.50 per share. This is the latest update that has come from Senseonics Holdings.
On July 20th, shares of SENS stock shot up by around 6%, indicating solid bullish sentiment. At the start of 2021, SENS stock was priced at around $0.90 per share. Now, shares of SENS stock sit at over $3, which is quite a substantial jump. With this in mind, is SENS a contender for your list of penny stocks to watch?Moving iMage Technologies Inc. (NYSE: MITQ)
Moving iMage Technologies Inc. is as its name may suggest, a penny stock that operates in the entertainment industry. The company creates a variety of cinema products and equipment for production uses. It offers installation, custom engineering, tech services, software, and much more. Its CineQC program is for cinema presence management and can be used by theaters and other cinema-related assets around the country.
On July 19th, Moving iMage Technologies received an award to provide equipment for a new Alamo Drafthouse Cinema location. This theater is expected to open in Fall 2021. The owner of the theater and Alamo franchisee Joseph Edwards said, “MiT has been a long-time, trusted partner of ours, having furnished and installed equipment at our other sites in Charlottesville, Loudoun, and Woodbridge. It’s great to have a quality one-stop-shop for the auditorium and booth fixturing.”
In addition to this recent information, it’s worth noting that MITQ only went public with its 4,830,000 common shares a few weeks ago. In its short amount of time on the market, MITQ stock has had quite a large downtrend, dropping by around 80% since it became listed.
And while this may not seem like the best news, this is something we see often shortly after an IPO occurs. As companies find their fair value in the market, prices can fluctuate greatly in only short time frames. So, it may be worth giving MITQ stock some time to settle before giving it a first or second look. However, with this penny stock being very active, will it make your watchlist?Are These Penny Stocks Worth Buying or Not?
This is a difficult question to answer off the bat as every investor is different. To understand whether you should buy or sell a penny stock, you should first understand what type of trader you are.
Are you more risk inclined, or are you trying to play it safe? This should all be a part of your strategy when looking for the best penny stocks to buy. Considering this, what do you think? Are these penny stocks worth it or not?