GRNQ - Hot Penny Stocks to Buy This Week? 3 For Your October Watchlist
3 Hot Penny Stocks to Watch in Mid-October 2021
With October moving by just as quickly as it started, investors continue to look for the best penny stocks to buy. But to do so involves more than just picking your favorites. Rather, investors need to do a few steps to have the best chance at making money with penny stocks in 2021. First and foremost is research, and with that, comes a few other specifics.
What to Know When Looking For a Penny Stock to Buy
The first thing you’re going to want to take a look at is the company’s financials. This means understanding its revenue, debt, income, and its projections for the future. Financial data is always extremely important as it shows how the company could perform and what it looks like internally.
The next thing to look at involves all of the speculative factors that are impacting a company. This includes press releases, upcoming announcements, and any industry-wide news or trends that could be worth noting.
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With penny stocks specifically, speculation is the main driver of price movement. And as a result, any event no matter the size can have either a positive or adverse effect on a company’s share price. For this reason, looking at speculative news will be a major asset.
Lastly, it’s wise to take a look at social sentiment surrounding a company. While this may not have mattered a few years ago, now, investors look to social media like Reddit and Twitter to gauge positivity. So, while this may be often overlooked, it is an important step to take. Considering all of this, let’s take a look at three hot penny stocks to take a look at this week.
3 Penny Stocks to Watch in the Second Week of October
- ReWalk Robotics Ltd. ( NASDAQ: RWLK )
- Corvus Pharmaceuticals ( NASDAQ: CRVS )
- Greenpro Capital Corp. ( NASDAQ: GRNQ )
ReWalk Robotics Ltd. (NASDAQ: RWLK)
ReWalk Robotics Ltd. is a biotech company that creates medical devices. Specifically, the company offers wearable robotic exoskeletons for people with mobility impairments. ReWalk is involved in the design, development, and commercialization of these products. The company’s products are marketed and sold to institutions, individuals, distributors, and more. On October 11th, shares of RWLK stock skyrocketed by around 10% at EOD bringing its one-year gain to over 25%.
On September 29th, the company announced the closing of a $32.5 million registered direct offering priced at a premium to market. This is a registered direct offering for the sale of 16,013,518 of its ordinary shares. The purchase price for these shares was $2.035 per share.
The company also issued to the investors unregistered warrants to purchase up to an aggregate of just over 8 million ordinary shares in a concurrent private placement. For the offering, H.C. Wainwright & Co. was the exclusive placement agent. The gross proceeds are intended to be used for sales, marketing, reimbursement, research and development, and much more.
This is the latest update from ReWalk Robotics. It’s worth noting that this is an important announcement to consider, and one that shows just how intently ReWalk is on growing. With these funds, it will be interesting to see ReWalk’s growth strategy in the near future. Considering this, will RWLK be on your list of penny stocks to watch?
Corvus Pharmaceuticals Inc. (NASDAQ: CRVS)
Up by almost 13% at EOD on October 11th are shares of CRVS stock. In the past month, CRVS has shot up by over 113% which is no small feat. So, what does Corvus do, and why are its shares so intent on climbing? Well, recently, Corvus has been engaging in a trial that targets the CD73 immune pathway. There is currently a similar trial going on with AstraZeneca, however, Corvus’ is independent of this.
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The anti-CD73 compound known as mupadolimab, has garnered attention for the company, ultimately resulting in this major share price increase. While it is still in the very early trial stages for treating head and neck cancer, the company is competing with several big-name pharmaceutical companies. And as a result, some investors believe that Corvus’ competitor could be bought or licensed by one of these larger companies.
While this is purely speculation there is a lot of hype in the biotech industry right now. And although Corvus is not a big player by any means, this is an exciting prospect. It’s also worth noting that CRVS is quite volatile as illustrated by its recent price movements. So, whether all of this makes CRVS stock worth adding to your list of penny stocks to buy is up to you.
Greenpro Capital Corp. (NASDAQ: GRNQ)
Another big gainer of the day so far is GRNQ stock, pushing up by over 11%. In the past five days, shares of GRNQ stock have shot up by over 22%, showing a solid bullish turnaround over its early September performance. The recent movement from Greenpro comes as it announced an investment into two STO projects that are already approved by the CEZA in the Philippines. This will allow it to move forward with the projects.
“We are very excited to kick off our Pre-STO Investment Program with Link Capital and ATM online, both have excellent professional management teams and are in businesses that are poised to capture significant upside from pent up demand and decentralized finance momentum.”
CK Lee, the CEO of Greenpro Capital
Right now, there is a lot of interest in everything relating to blockchain. And with Bitcoin reaching over $58,000 today, it looks like the bull run for crypto could be attracting new investors into anything with the blockchain name on it.
Outside of this deal, Greenpro is a business incubator that engages in a large variety of business practices. This includes tech, banking, health and wellness, and much more. So, if we consider just how broad GRNQ stock is, it could be an interesting addition to your penny stocks watchlist .
Are These Penny Stocks on Your Watchlist?
Finding the best penny stocks to buy in 2021 is not easy. However, with the right research on hand, it can be much easier than previously imagined. Considering that there are hundreds of penny stocks to choose from, finding just a handful for your list will be extremely beneficial.
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And once the research is done, it’s best to understand what your investing goals are to apply that to your watchlist. Considering this, are any of these penny stocks on your watchlist right now?