With so much positive momentum among penny stocks right now, investors continue to search for the best small-caps to buy. Although momentum has been relatively volatile in the past few months, we do see certain days with more positivity than others. So, knowing how to pick the best penny stocks to buy will always be a major benefit to you and your portfolio.
In July 2021, investors have to remain one step ahead of the game. Because there are so many individual factors affecting the stock market right now, it is best to try and stay up to date on each and every one. While this may seem like a daunting task, with the power of the internet, it is entirely doable. And with hundreds on the list of penny stocks to choose from, the options are plenty. With all of this in mind, have you heard of these seven penny stocks to watch?4 Hot Penny Stocks to Watch Right Now
- Broadway Financial Corp. (NASDAQ: BYFC)
- Darkpulse Inc. (OTC: DPLS)
- Advaxis Inc. (NASDAQ: ADXS)
- Cinedigm Corp. (NASDAQ: CIDM)
Broadway Financial may not be a penny stock you’ve heard of, but it has been making some big waves in recent trading sessions. For some information, BYFC is a bank holding company. This means that the company specifically engages in the savings and loan side of a bank’s operations.
BYFC does this by taking deposits from the general public, borrowings, and other sources of funds in order to make mortgage loans secured with properties. BYFC is based in California and its loan portfolio is mostly comprised of mortgage loans that are backed by multi/single-family residential real estate, and commercial properties.
In the past five days, shares of BYFC stock have shot up by over 12%. In the past six months, shares have shot up by a solid 53% or so. The main reason behind this solid gain is the overall housing market continuing to rise in value during this time. And as a company that is heavily correlated to the real estate market, BYFC is worth watching if the price of homes continues to rise. So, considering all of this, will BYFC stock be on your watchlist moving forward?Darkpulse Inc. (OTC: DPLS)
Darkpulse Inc. is a rather volatile tech penny stock that is making some sizable moves right now. Technology penny stocks have seen a large increase in the past year, driven by both constant innovation and the pandemic’s resulting focus on tech. Darkpulse specifically, specializes in laser-based monitoring systems meant to provide quick and precise monitoring of temperature.
Additionally, these systems can quantify strains and stresses, adding to the safety profile of common industrial components. This includes monitoring structures such as pipelines, perimeters, aircraft components, and mining safety among others. Recently, the company announced the planned acquisition of TerraData Unmanned, PLC. This is a drone company that offers underwater inspection, 3D modeled mapping, and a variety of other services.
“As DarkPulse continues to build best in class technology service offerings to the critical infrastructure/key resources market we look for teams such as TerraData to bring experienced personnel and leading-edge equipment allowing the Company to operate AI-assisted inspection services in all mediums including land, sea, and air. TerraData’s ability to work in difficult marine environments with accuracy, efficiency, and expert results while eliminating risk to humans is a game-changer.”DarkPulse CEO, Dennis O’Leary
This is big news for the company and is more than likely the cause of the almost 100% gain witnessed with DPLS stock in the past five days. With this in mind, is DPLS worth keeping an eye on in July 2021?Advaxis Inc. (NASDAQ: ADXS)
Another industry that has seen tremendous growth during the past year is biotechnology. Advaxis a growing part of the biotech industry and is a clinical-stage developer of compounds. Its primary focus is on the development and commercialization of novel Lm-based antigen delivery products.
[Read More] 8 Top Tech Penny Stocks to Watch in July 2021
Immunotherapies are a large part of many common treatments as they can not only target specific areas of interest, but they can integrate multiple functionalities in one therapy. Specifically, ADXS’s main product is meant to stimulate anti-tumor T cell immunity. This is commonly down-regulated in the body by cancers in order to amplify growth. Recently, Advaxis announced a merger with Biosight.
“The proposed merger with Advaxis is a unique opportunity for Biosight to build a leading public company in oncology, with a diversified clinical pipeline in both hematological malignancies and solid tumors. The combined company will have the demonstrated expertise and strong balance sheet to advance its lead programs towards multiple anticipated milestones over the next 12 to 18 months.”Dr. Ruth Ben Yakar, CEO of Biosigh
While mergers are common with penny stocks and especially so with biotech stocks, they tend to be of big interest to investors. Although we may not see the fruits of this merger for some time, it is definitely an intriguing factor to consider. With this in mind, ADXS stock could be worth adding to your watchlist in the near future.Cinedigm Corp. (NASDAQ: CIDM)
Cinedigm Corp. is a penny stock that we have discussed frequently in the past several months. This is due to both its constant and sizable momentum combined with high investor interest. This entertainment company, based out of Los Angeles, specializes in digital cinema, content marketing, streaming, and distribution.
Only a few days ago, it announced that it was forgiven for a $2.2 million Paycheck Protection Program (PPP) loan. East-West Bank paid off not only the loan in full but the principal and interest of the PPP loan as well. This is a big deal and should reflect positively on the companies balance sheet moving forward. While the number may not seem that large, any debt reduction is almost always met with positive sentiment from investors.
“We are very pleased to receive the notice of forgiveness of our entire PPP loan and associated interest. We remain grateful for the financial support that the CARES Act provided in response to the COVID-19 pandemic. This helped Cinedigm move into a very solid position now financially with virtually no debt and a fast-growing streaming business.”Gary Loffredo, President, and CEO of Cinedigm
The sentiment from Loffredo shows that investors should keep a close eye on CIDM’s next balance sheet. Because debt is a large factor for how positively investors see a company, this massive reduction should be considered. So, with all of this in mind, is CIDM on your list of penny stocks to watch right now?3 More Penny Stocks to Watch in July 2021
- ZW Data Action Technologies Inc. (NASDAQ: CNET)
- Sphere 3D Corp. (NASDAQ: ANY)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Finding the best penny stocks to buy in 2021 can seem like a difficult task. But, with so much research available to anyone with an internet connection, it can be easier than previously imagined.
The best trader will always be the one with the most information at hand. And for this reason, committing to doing the research is always the most important step to making a profit with penny stocks. Considering all of this, are these penny stocks worth adding to your watchlist?