Investing in Penny Stocks? Here’s 3 That Retail Traders Are Watching

3 Penny Stocks That Retail Investors Are Watching in October 

October has already gotten off on a great foot for penny stocks and blue chips. While the first day of the month started with bearish momentum, it quickly turned around by EOD, with many penny stocks pushing up in large numbers. This bullish sentiment could remain this month after a less than stellar trading period in September. 

When it comes to trading penny stocks, it’s all about understanding where momentum is and how to take advantage of that. Right now, there are a large number of factors that are impacting the stock market. This includes the energy industry, the U.S. economy, inflation, Covid, and more. And as a result of all of these major events, the stock market is extremely volatile right now. 

[Read More] Top Penny Stocks to Watch As October Gets Off to a Bullish Start

In combination with this is the volatility caused by retail traders. With the influx of retail traders on Robinhood and other trading platforms, billions of dollars in new capital have flooded into the market. This means that volume is higher than ever, and intraday swings are extremely likely. 

As retail traders, speculation is usually the rule of law. And with penny stocks, this is even more true as speculation is the largest impacting factor on trading small-caps. So, considering all of these factors, let’s take a look at three penny stocks that retail traders are watching right now. 

3 Penny Stocks That Retail Traders Are Watching in 2021 
  1. Progenity Inc. (NASDAQ: PROG
  2. Zomedica Corp. (NYSE: ZOM
  3. Meten Holding Group Ltd. (NASDAQ: METX
Progenity Inc. (NASDAQ: PROG)

Progenity Inc. is a biotech penny stock that managed to climb by around 17% by EOD on October 1st. If you’re unfamiliar, Progenity is a biotech company that commercializes molecular testing products. One of its main products is Innatal, which is for women in early pregnancy to screen for chromosome abnormalities. Additionally, Progenity has been developing COVID-19 PCR testing services and other screening products. The company’s trials include PGN-001, PGN-300, PGN-600, and PGN-OB2.

On September 14th, the company announced that its patent was approved by the United States Patent and Trademark Office. This patent was for the assessment of preeclampsia using assays for free and dissociated placental growth factors. The patent is related to methods, kits, and compositions for detecting and measuring free and dissociated placental growth factor levels in biological samples.

“We are pleased the USPTO has granted this patent covering unique and novel methods for determining levels of free and dissociated PlGF, since detection and quantification of both biomarkers are critical for assessing preeclampsia. This discovery helped drive the excellent performance we observed in our clinical verification and validation studies.”

The Chief Scientific Officer of Progenity, Matthew Cooper, P.h.D

Following this announcement, PROG has gone up in price. In the past week, shares of PROG stock have shot up by around 96%, which is quite substantial. With this in mind, will PROG make your list of penny stocks to watch?

Penny_Stocks_to_Watch_Progenity_Inc._(PROG_Stock_Chart)Zomedica Corp. (NYSE: ZOM)

Zomedica Corp. is a penny stock that is up over 8% in the market today. This company focuses on developing clinical products for companion animals such as dogs and cats. Its TRUFORMA product is a diagnostic biosensor platform for detecting thyroid disorders in these animals. Currently, Zomedica has a collaboration agreement with Celsee Inc. to develop and commercialize products to detect cancer in animals.

[Read More] 4 Cheap Penny Stocks To Watch As Ethereum & Bitcoin Prices Surge

On October 1st, the company announced that it has acquired Pulse Veterinary Technologies (PulseVet). The business was acquired in an all-cash and stock transaction of $70.9 million. PulseVet is a company that creates electro-hydraulic shock wave technology to treat various veterinary patients. Currently, PulseVet is the market leader in the equine space with 1,500 systems in use globally.

“As previously indicated following our fundraising efforts and the establishment of a business development capability, it has been our goal to complement our TRUFORMA® product platform, and to accelerate the growth of Zomedica overall, by strategically investing to expand our product offerings, technologies, and product development efforts.”

CEO of Zomedica, Robert Cohen

On the same day as this announcement, ZOM stock understandably went up in the market. Considering this, is ZOM a contender for your penny stock watchlist?

Penny_Stocks_to_Watch_Zomedica_Corp_Meten Holding Group Ltd. (NASDAQ: METX)

Meten Holding Group Ltd. is a penny stock we have discussed numerous times over the past few weeks. You may have heard us mention them as Meten EdtechX Education Group Ltd., previously, however, the company recently changed its name back in August. This is an educational company based in China that offers English language training (ELT) services. The company’s adult and junior ELT services are offered under the Meten, ABC, and Likeshou brand names in China. As of December 31st, 2020, the company had 105 self-operated learning centers, and 13 franchised learning centers.

In early September, the company closed a $60 million underwritten public offering of ordinary shares and pre-funded warrants to purchase ordinary shares. The offering included 22,500,000 of its ordinary shares at the public offering price of $0.30 per share and 177,500,000 pre-funded warrants.

The net proceeds are intended to be used for capital expenditures and general corporate needs. The sole book-running manager for the offering was Aegis Capital Corp. On October 1st, METX volume is much higher than its average in the market. In addition, shares of METX stock have jumped by around 17% in the past five days. Keeping all of this in mind, will METX stock be on your watchlist?

Penny_Stocks_to_Watch_Meten_Holding_Group_Ltd_METX_Stock_ChartAre These Penny Stocks on Your October Watchlist?

If you’re looking for the best penny stocks to buy in October, chances are there are trending stocks on your list. This is a great way to find penny stocks that could have momentum in either the short or the long term. 

[Read More] Best Penny Stocks to Buy Now? 6 You Need to Know About

But, at the end of the day, the best way to make money with penny stocks is to understand how different events could impact the stock market. This means considering what’s going on in the world, and how that can be used as an advantage. So, with all of this in mind, are these penny stocks on your October watchlist?

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.