With another week of trading penny stocks on the horizon, many investors are wondering which small-caps could be worth watching. And to understand that, traders need to have a proper insight into what is going on in the market. One of, if not the most impacting factors on the stock market right now is Covid.
As a result of the Delta variant, cases of Covid-19 have increased substantially in the past few months. This has left investors anxious and disappointed after a few months of potential recovery. But, with the cases beginning to show signs of slowing, some investors are feeling more comfortable with the near future.[Read More] Best Reddit Penny Stocks to Buy? 3 to Know About Right Now
And as a result, there is a solid mix of both positive trading days and negative trading days. Staying up to date with the current happenings as it relates to Covid is a great way to try and predict what will go on in the market.
But, in addition to this investors should keep a close eye on geopolitical issues as well. On September 10th, worries surrounding U.S.-China relations began to ease as President Biden and President Xi Jinping of China, had a positive discussion. While this has yet to play out fully, it could lead to positivity moving forward. Considering all of this, let’s take a look at three hot penny stocks for your small-caps watchlist this week.3 Penny Stocks to Add to This Week’s Watchlist1. Atossa Therapeutics Inc. (NASDAQ: ATOS)
Atossa Therapeutics Inc. is a biotech penny stock that managed to climb by more than 8% during trading on September 10th. This brings its one-month gain to over 24% which is no small feat. If you’re unfamiliar, ATOS is a company that discovers and develops medication for infectious diseases and oncology.
Currently, it is developing Endoxifen which is in Phase 2 clinical trials to treat breast cancer patients. It also has AT-301 and AT-H201 which are both for individuals that have COVID-19 and could improve lung function. Its work on Covid treatments is one of the main reasons that investors are interested in ATOS stock right now alongside its cancer research.
On September 2nd, the company received approval from the Swedish Ethics Review Authority to start a phase 2 clinical trial of oral endoxifen in Sweden. The purpose of the trial is to reduce mammographic breast density, an issue that affects more than 10 million women in the U.S. and many more worldwide. The study is a randomized double-blind placebo-controlled dose-response study of oral Z-Endoxifen.
Chairman and CEO Steven Quay said, “With this ethics approval and the previously reported regulatory approval to conduct the clinical study, we plan to start enrolling participants in the fourth quarter of 2021.” Following this announcement, it makes sense that shares of ATOS stock have climbed so much in the past few weeks. Keeping this in mind, will ATOS be on your penny stock watchlist this upcoming week?2. Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a uranium mining stock that shot up by over 12% on September 10th. This gives it a one-month gain of over 40% which is quite large considering the previous few months of trading for DNN stock. If you’re not familiar, Denison mines is a company that explores for uranium and develops various mining properties in Canada. Its main project is the wheeler River uranium project located in the Athabasca Basin region of northern Saskatchewan, in which it owns a 95% interest.[Read More] Hot Penny Stocks to Add to Your September Watchlist
In August, Denison reported its results from the second quarter of 2021. During the quarter, the company received $5.8 million in connection with the conversion of Uranium Participation Corporation into the Sprott Physical Uranium Trust. Denison also completed an acquisition of 50% OF JCU Exploration Company for $20.5 million. This was a big deal when it was announced, and could explain part of the recent bullish sentiment behind DNN stock.
“The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.”President and CEO of Denison, David Cates
Since this update was released, DNN stock has gone up substantially in the market. On September 10th, the company’s stock price is up 12.7%. Noting this information, will DNN stock make your watchlist?3. PaySign Inc. (NASDAQ: PAYS)
PaySign Inc. is a penny stock that just went up by nearly 13% in the market on September 10th. This brings its five-day gain to over 33% which signifies sizable bullish sentiment. This company offers prepaid card products under the PaySign brand. These products are sold to consumers, corporations, and governments. It offers transaction processing, account management, reporting, and many more services. PaySign Premier is its demand deposit account debit card.
On August 10th, the company reported its second-quarter direct-hire financial results for 2021. The company’s total loads and total gross dollar load volume went up 13.1% and 34.7% year over year respectively. The company’s total revenue went up 3.2% year over year as well. PaySign’s adjusted EBITDA for the second quarter of 2021 was at $0.2 million. These numbers are very positive and show that PaySign is in a strong growth trend right now.
“Throughout the quarter we saw month-over-month improvements in our financial results as pandemic-related stimulus began to phase out, thus providing an incentive for individuals to supplement their income by donating plasma.”CEO of PaySign Inc., Mark Newcomer
On September 10th, PAYS stock volume was also much higher than its market average. This is yet another indicator of the positivity surrounding PaySign right now. Keeping this in mind, will PAYS make your list of penny stocks to watch?Which Penny Stocks Are You Watching This Week?
Finding the best penny stocks to buy this week is all about understanding what’s going on in the market. With so much to keep track of, understanding what is going on in the world and how it could affect penny stocks will be a major benefit to your portfolio.
In addition, having a thorough understanding of what type of trader you are, will also help to align your holdings with your portfolio goals. Considering all of this, which penny stocks are you watching this week?