In the past few weeks, we’ve discussed trending penny stocks numerous times. And, there are a few distinct reasons for that. For one, if we look at trading penny stocks and blue chips over the past year and a half, we’ve seen that the combination of high speculation and a large quantity of retail traders, has resulted in trending penny stocks pushing up substantially.
While this may have not been the case a few years ago, now, traders on platforms such as Reddit or Twitter, have come together to group invest in certain stocks. This is exemplified by stocks such as GME stock, AMC stock, and plenty of others. And for this reason, there is plenty of money to be made with trending penny stocks.[Read More] Top Penny Stocks to Watch As BTC Passes $61,000
But, it’s worth noting that these stocks tend to be some of the most volatile out there. This means that it can be just as easy to lose money with trending penny stocks as it is to make money. Because of this, there are two things that investors should take into account. For one, make sure that you know your own tolerance for risk. If you are risk-averse, trending penny stocks may not be the right choice for you.
However, if you are inclined to invest in riskier penny stocks, then trending stocks could be worth buying. Second, investors have to understand why the stock is trending. This is a crucial part in making money with trending stocks, and something that investors often overlook. So, considering all of this, let’s take a look at three penny stocks that are trending right now.3 Trending Penny Stocks to Add to Your October Watchlist BEST Inc. (NYSE: BEST)
BEST Inc. is a penny stock that is up by over 2% in the market on October 15th. This company operates in the industrial field in China. BEST operates the BEST Cloud platform for its clients to operate their businesses through SaaS-based applications. It applies this technology to various apps, such as network and route optimization, sorting line automation, smart warehouses, and store management.
In August, BEST released its second-quarter financial results for 2021. The company’s revenue fell year over year, and the company experienced a gross loss year over year as well. BEST also experienced a net loss instead of a net profit, and its EBITDA was negative. This seems bad on the surface, but the company is currently working towards improving its business.
“As part of our refocusing plan, we continued to improve our balance sheet and streamline our asset base. From the beginning of the year to the date of this press release, we have completed approximately RMB1.0 billion of financing and asset conversion. In addition, we are working on a pipeline of financing and strategic initiatives to further strengthen our balance sheet.”Chief Financial Officer of BEST, Gloria Fan
Now on October 15th, the company’s stock price is going up in the market. With this in mind, will BEST be on your list of penny stocks to watch?Cinedigm Corp. (NASDAQ: CIDM)
Cinedigm Corp. is an entertainment penny stock that we have mentioned frequently in the past few months due to its trending nature. If you’re not familiar, Cinedigm is a company that distributes movies, television, and other forms of content to digital platforms. Currently, it distributes many of its products for brands such as Hallmark, the NFL, Konami, and more. It also distributes content to platforms such as Netflix, Hulu, Xbox, and Vudu.[Read More] Hot Reddit Penny Stocks to Watch Right Now? Check These 3 Out
On October 12th, Cinedigm announced the launch of its Horror NFT series. The company will release a series of horror-based NFT trading cards branded as “Bloody Disgusting Blood Packs”. The company has commissioned various horror artists such as Luke Chueh and Chet Zar to create the artwork for the NFTs. This announcement comes just a few weeks after Cinedigm acquired Bloody Disgusting.
“The acquisition of Bloody Disgusting and Screambox has placed us in a unique position to enter the market for horror-based entertainment as well as horror collectibles. The release of this initial Starter Pack of Bloody Disgusting trading cards is our first step into further exploiting our brands and expanding our business via an emerging new technology that allows us to monetize our assets in a compelling new way.”Chief Technology and Product Officer at Cinedigm, Tony Huidor
Just a few days after the announcement, CIDM stock is up 5.29% in the market. Noting this new info, will CIDM be on your penny stock watchlist this month?SOS Limited (NYSE: SOS)
SOS Limited is a tech penny stock that has received frequent mention on pennystocks.com because of its large moves over the past year or so. This tech company focuses on data mining and analysis services in China. It provides tech, solutions, and marketing data for insurance companies, health care information portals, and more. It also has a cloud emergency rescue SaaS platform for its clients.
On September 10th, SOS reported its six months interim financial results for 2021. During this period, its net revenue grew 17 times higher than last year. Its total net revenue was $184.5 million in the first six months of 2021. SOS’s gross profit went up to 9.3% compared to 0.8% year over year to $17.2 million. This was due to its rapid market expansion and the addition of crypto-mining and commodity trading operations.
Despite these rather positive results, it was not enough to bring SOS stock up in the market. However, shares of SOS stock have shot up by almost 50% in the past YTD period. It will be interesting to see what the company reports next and if it could change its current trajectory. With so much to keep in mind, will SOS stock make your October watchlist?Which Trending Penny Stocks Are You Watching Right Now?
Investing in trending penny stocks is not for the faint of heart. However, it can be a great way to make money with penny stocks. But, investors need to weigh the risks, and understand their own investing style. This is the best way to see which penny stocks may be right for you, and which might not be.
Because there are so many penny stocks to choose from, it can seem like a daunting task to pick just a handful for your watchlist. However, with the right research on hand, it can be much easier than previously imagined. With that in mind, which trending penny stocks are you watching right now?