Finding trending penny stocks is a great way to stay ahead in the stock market. And to do so, investors can look for penny stocks on Reddit, Twitter, and other social media sites. But, before putting any money into penny stocks that are trending, it’s best to understand a few things. First and foremost, investors should have an idea of why the stock is trending and whether it is a short or long-term trend.[Read More] Do These Penny Stocks Have Potential in October 2021? 3 to Watch
For example, if a company recently released a positive earnings report, it could trend, and therefore rise in the short term. However, long-term momentum would not be guaranteed. On the other hand, if a company makes a large announcement that it received a multi-year order or received approval for a drug, it could leave a lasting impact. So, understanding what makes the penny stock trend, will help you to figure out how to trade it.
In the stock market, many trends have emerged. While penny stocks are among these broader trends, cryptocurrencies is another big momentum driver. That not only goes for crypto stocks but high-volatility investment vehicles as well. That has left its mark on areas of the market as a whole and it includes sparking optimism around low-priced stocks too. With that considered, let’s look at three trending penny stocks for your mid-October watchlist.3 Penny Stocks That Are Trending Right Now Enzolytics Inc. (OTC: ENZC)
Enzlolytics Inc. is a biotech penny stock that has climbed by over 50% in the past month. In the YTD and one-year periods, that number jumps to over 160% and 815% respectively. These are major gains and should be considered when looking at ENZC stock. If you’re not familiar, Enzolytics is a company that develops drugs for commercialization. Its products are made to treat debilitating infectious diseases. The company has patented anti-HIV therapeutics and a proprietary methodology to produce human lgG1 monoclonal antibodies.
Back in July, the company reported its progress towards completing clinical trials for its ITV-1 anti-HIV therapeutic. These steps are mandatory and need to be approved by the European Medicines Agency (EMA). Production of the therapeutic will take place at Danhson pharmaceutical company facilities. International Medical Partners will be the exclusive distributor of the ITV-1 therapeutic in the EMA member countries.
“We are excited about the progress we have made with the assistance of our IMBL partners. Contracting with Danhson, Clinic Design and PharmaLex is integral to the success of the EMA permitting process. As this is the second time our ITV-1 therapeutic has progressed through clinical trials and the first trials were successful, we are fully confident that we will succeed in the permitting process.”CSO of Enzolytics, Harry Zhabilov
On October 7th, ENZC stock’s volume came in at a sizable 67 million compared to a market average of 16 million. Will ENZC be on your list of penny stocks to watch?Inpixon (NASDAQ: INPX)
Inpixon is a tech company that offers data analytics and location-based products. Its Inpixon Sensor 4000 is a passive RF sensor for detecting signals. These signals can range from pings on a cell tower to active wireless transmissions. It has various other products as well such as the Inpixon IPA Pod, Inpixon GPS 900, UWB Sensor Module, and IPA Security among many others. Because of its broad scope, Inpixon continues to show that it has a lot to offer as a budding tech company.
On September 30th, the company released Inpixon Mapping 4.15, the latest version of its indoor mapping platform. This new update offers better performance, scalability, security, and more. Some of its new features include CMS redesign, Okta SSO, SDK standalone services, enhanced GeoJSON layer management, and more. New products with tech are always exciting for investors to consider. They allow for heightened interest in the company and the potential for more revenue down the line.
“Great maps are essential to delivering exceptional experiences. Inpixon Mapping — working within 3rd-party apps or as part of our turnkey CXApp smart office app, optionally coupled with Inpixon On-Device Positioning, unleashes the power of location awareness and makes the workplace and employee experience come alive. I believe our ability to deliver a phenomenal experience is what’s fueling our strong demand across a wide variety of industry sectors.”The CEO of Inpixon, Nadir Ali
In the past few trading days, the volume for INPX stock has been much higher than its average. This is a great sign that the popularity with INPX is building. Despite some less than stellar performance in the past few months, shares of INPX stock are seeing increased bullish sentiment right now. Based on this new info, will INPX be on your list of penny stocks to watch?Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an energy penny stock that has climbed by over 37% in the past month or so. This brings its one-year gain to over 183%, which is no small feat. If you’re not familiar, Kosmos is a deepwater oil exploration company based in the United States. Kosmos focuses on exploring for and producing oil and gas at its assets in offshore Ghana, the U.S. Gulf of Mexico, and Equatorial Guinea.
Back in August, Kosmos reported its second-quarter financial results. The oil and gas producer reported 51,600 barrels of oil equivalent per day. It also announced a successful reserve-based lending amendments and extensions. The company produced an adjusted net loss of $10 million, or $0.03 per diluted share during this period.
“Kosmos delivered strong free cash flow in the second quarter. Through further debt reduction and EBITDAX growth, we expect leverage to continue to reduce through year-end 2021 and into 2022. With strong cash generation, the successful RBL extension, and the recently completed GTA FPSO transaction, Kosmos’ financial position has materially improved and we remain well-positioned to execute our remaining financing plans later this year.”CEO and Chairman Andrew G. Inglis
In the last month, KOS stock has been climbing substantially, indicating solid bullish sentiment on both it and the energy industry at large. With this in mind, will KOS be on your penny stock watchlist?Which Trending Penny Stocks Are You Watching Right Now?
Finding the best and most trending penny stocks can be difficult given the sheer number of companies out there. However, with the power of the internet, investors can research each and every company to the full extent.
- Hot Penny Stocks to Buy That You Should Know About Right Now
- Best Penny Stocks To Buy According To Analysts & Targets Up To 290%
As stated earlier, the one with the most information on hand will always be in the most advantageous position. Considering this, which trending penny stocks are you watching right now?