With the end of June on the horizon, many investors are searching for the best penny stocks to watch. When making a list of penny stocks, traders should consider everything that is going on in the market right now. At the end of June, we are witnessing a few interesting aspects that could affect the stock market moving forward.
This includes the emergence of the Delta strain of the coronavirus, which is resulting in spiking cases in certain countries. Additionally, this could shine a new light on the biotech sector, as indicated by higher trading volume amongst leading biotech companies recently. So, with July only a few days away, here are eight penny stocks to watch right now.5 Penny Stocks to Watch Right Now
- SeaChange International Inc. (NASDAQ: SEAC)
- Iterum Therapeutics plc. (NASDAQ: ITRM)
- Sphere 3D Corp. (NASDAQ: ANY)
- Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
- GEE Group Inc. (NYSE: JOB)
SeaChange International Inc. is a tech penny stock that provides multiscreen, advertising, and video products. These products and services facilitate the aggregation, licensing, management, and distribution of video and advertising content worldwide. Its SeaChange Adrenalin product is a multiscreen video back office platform enabling service providers to manage and monetize a seamless viewing experience. As you can see its offerings expand greatly into the tech industry.
On June 10th the company reported its fiscal first-quarter 2022 financial results. The Executive Chairman Robert Pons said, “During the fiscal first quarter, we successfully completed the initial phase of our strategic roadmap, which has optimized our operations, solidified our financial foundation, and positioned us to drive scale, capture market share, and create even greater value for both our customers and shareholders.”
Just 5 days ago this penny stock was at $1.06 per share on average. Now on June 25th, SEAC stock is at $1.36 per share on average. This momentum has interested investors which is illustrated by SEAC stock’s increased volume. Is SEAC a contender for your list of penny stocks to watch in July?Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a clinical-stage pharmaceutical company that develops anti-infectives for multi-drug resistant pathogens. It is currently developing the compound sulopenem which is a novel anti-infective compound with oral and IV formulations. Sulopenem is currently in Phase III clinical trials to treat urinary tract infections and could have other indications as well.
On May 27th the company provided an update on its NDA review. The company announced that it participated in a late-cycle meeting with the U.S. Food and Drug Administration. Additionally, Iterum stated that the review of its new drug application is still active and the FDA is working towards the PDUFA goal date of July 25th, 2021.
“We continue to prepare for a U.S. Food and Drug Administration (FDA) advisory committee meeting and look forward to clarity from the FDA on timing.
In the meantime, the FDA continues its review of our new drug application (NDA) for oral sulopenem for the treatment of uncomplicated urinary tract infections (uUTI) in patients with a quinolone non-susceptible organism and has not advised us of any change to the current PDUFA goal date of July 25, 2021.”The CEO of the company Corey Fishman
So will ITRM make your list of penny stocks to watch noting the above information?Sphere 3D Corp. (NASDAQ: ANY)
Sphere 3D Corp., is another tech penny stock that has seen a great deal of momentum in recent trading sessions. For some context, it provides data management, desktop, and application virtualization solutions. These products allow organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications and more. Its HVE converged and hyper-converged infrastructure solutions like HVE-STACK, HVE-VELOCITY, and HVE 3DGFX all provide a wide market for its customers to choose from.
On June 9th, big news came as Gryphon Digital Mining and Sphere 3D Corp announced a new agreement. The companies will purchase 250,000 carbon offset credits, which will allow the pair to fulfill the goal of becoming even more renewable-energy dependent.
“We understand that carbon emissions extend way beyond the energy that a business uses, so even though we are 100% renewable already, there’s more that we can do.
These credits are our pledge to not only offset those additional emissions, but to go beyond that and be carbon negative. We believe that members of the global ecosystem should strive to make the environment a better place with their presence in it, and not just sustain themselves.”CEO of Gryphon Digital Mining Rob Chang
In the past month, ANY stock has shot up by more than $1.20 per share. This is quite a staggering gain and could make it worth keeping an eye on.Electrameccanica Vehicles Corp. (NASDAQ: SOLO)
Electrameccanica Vehicles Corp. is a development stage EV penny stock that develops, manufactures, and sells electric vehicles. Its flagship project is the SOLO single-seat vehicle, which is aimed at the commuting market and those embarking on short-term trips. It is additionally developing Tofino which is a fully electric two-seater roadster. The company sells its vehicles through both online and retail settings, adding to its market reach.
Back in May, the company released its latest update in the form of its first-quarter financial results. The CEO Paul Rivera said, “In the first quarter of 2021 we continued making progress on several major initiatives, including finalizing customer-ready designs, increasing production throughput, optimizing logistics and supply chain management, and taking additional steps towards realizing our U.S. assembly facility and engineering technical center.”
One month ago SOLO stock was at $3.54 per share on average. On June 25th, SOLO stock closed at $4.36 per share. With all of this in mind, is SOLO worth adding to your penny stocks watchlist?GEE Group Inc. (NYSE: JOB)
GEE Group Inc. is an industry services penny stock that provides permanent and temporary professional, industrial, physician and staffing placement services. Its placement services extend to the segments of information tech, accounting, engineering, finance, office, and more. In the past year, its medical-related staffing has shot up in demand tremendously due to the pandemic, making JOB stock even more notable.
On June 8th, the leading national bank CIT Group Inc. (NYSE: CIT) announced that it is the sole lender on a $20 million credit facility for GEE Group Inc. The Chairman of GEE Group, Derek Dewan said, “We appreciated CIT’s expertise in arranging this asset-based financing to support our working capital needs and help fund GEE Group’s growth strategy. This financing represents another milestone in our ongoing effort to build our business while ensuring our financial position and balance sheet remain on solid footing.”
One month ago JOB stock was worth $0.53 per share. Now on June 25th, JOB stock is at $0.59 per share. While this may not be a gain to write home about, it is one that is bringing attention to JOB stock.3 More Penny Stocks to Watch Right Now
- Vistagen Therapeutics Inc. (NASDAQ: VTGN)
- Catalyst Biosciences Inc. (NASDAQ: CBIO)
- Vislink Technologies Inc. (NASDAQ: VISL)
Finding the best penny stocks to buy in 2021 is all about understanding which way the market is moving. Right now, there are plenty of factors at play that are shifting the stock market trajectory.
This includes the pandemic, fears of long term inflation, and more. At the end of the day, having a strategy will always be your best friend. Considering this, which penny stocks are on your list?