Penny stocks have continued to pique investors’ interests over the past few months. Since COVID, more and more non-institutional investors have gotten into investing. Since most people don’t have endless money to invest with, penny stocks can be a great option to see rapid portfolio gains. On the other hand, investors should note that penny stocks can be quite volatile, meaning that big losses are always something to watch out for. Regardless, there are a lot of penny stocks to choose from.
These companies span the gamut across the entire stock market and could be anything from gold stocks to biotech stocks. With the wide breadth of penny stocks available to investors, finding the right one is all about utilizing the information we have on hand. This means researching a given penny stock’s financials and what it is doing to secure its place in the future of its specific industry.
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Because there are so many to choose from, we have to narrow down our list penny stocks based on which companies we think will have the most future success. Or, at the very least, stocks that have enough momentum to present gain potential during the session. While some investors only want short term positions, others are in it for the long haul. With that in mind, here are some penny stocks to watch before Friday.Penny Stocks to Watch: Freeman Gold Corp.
Freeman Gold Gorp. (OTC: FMANF Stock Report) (CSE: FMAN) is one of the gold penny stocks to watch. The company has seen a lot more momentum in the past few months due to the price of gold and growing interest in the mining sector. Freeman’s main business is in the exploration and mining of gold & gold ore. Recently, the company is working to secure its name in the Idaho mining industry.
Last year, Idaho was ranked No.8 on the Fraser List of areas with the most mining potential. The company just finished its acquisition of Lower 48 Resources Ltd. With this, it now has access to the Lemhi Gold Project in Lemhi County, Idaho. The reason that this is such a big deal is that the Lemhi Project has the potential to rival some of the biggest mines in the gold mining industry.
With 355 holes drilled in the mine, Freeman Gold has a solid idea as to where the highest concentrations of gold are. Recently, a study conducted showed that there may be as much as 1.5-2 million ounces of gold in the mine. With so much potential in Lemhi County, Freeman Gold recently purchased a back-in right from Yamana Gold via an all stock transaction. This transaction, worth 5% of the freestanding shares of Freeman Gold, should help to de-risk the project as well as bringing in a notable shareholder like Yamana.
Furthermore, Freeman recently acquired the Moon #100 and Moon #101 unpatented mining claims, located within the historical resource area of its Lemhi project. The Moon Claims are in the immediate vicinity of historical drill holes 86065, 93002 and 93005 which contain significant gold mineralization including both broad (193.55 meters of 1.8 grams per tonne gold (‘g/t Au’) and high grade (57.91 meters of 4.09 g/t Au) gold intercepts.
“Freeman now has a complete property package without any back-in rights.”Will Randall, President & CEOPenny Stocks to Watch: Digital Ally Inc.
Digital Ally, Inc. (DGLY Stock Report) has been in and out of the spotlight amid two recent trends. First, the company’s push to get a foot in the door of COVID-related catalysts has bee evident. Next, you’ve got its original business model focused on security and body cams amid recent riots. Back in April, started to watch Digital Ally as it “diversified” a bit.
The company announced a partnership with Trust Think Products, LLC, the exclusive distributor of the Danolyte® disinfectant. Obviously, this was a long way away from its main business model. However, at that time, companies were trying to do anything to find a path to revenue. During the months to follow, we saw DGLY stock surge and in June it reached a high of $7.10.
Last month the company focused on its video solutions. A few weeks back, Digital Ally announced a partnership with DANA Safety Supply to be a certified domestic outfitter of the company’s law enforcement video solutions. Then just recently Digital Ally received an order from Linn County Kansas for its ThermoVu non-contact temperature screening devices.
If you weren’t paying attention to DGLY stock on Wednesday, that’s ok. There were several other big breakout penny stocks to watch. However, it is important to note that near the end of the session shares of Digital Ally started spiking. Recent developments out of Kentucky seem to have sparked interest in companies in the business of body cams. Will that momentum translate favorably into Thursday’s session?Penny Stocks to Watch: Biolase Inc.
Biolase Inc. (BIOL Stock Report) is another one of the penny stocks surging late in the day on Wednesday. Shares have been in a funk for most of the 3rd quarter. There’ve been a few intermittent spikes of trading momentum during that time. However, the trend has been relatively bearish. Biolase is a medical device company that develops dental laser systems.
For the most part, September has been a month full of presentations. The company just hosted a webinar during a panel discussion on the NEW Journal of Periodontology landmark study. This was from the McGuire Institute and compared periodontal flap surgery to BIOLASE’s REPAIR Perio laser protocol in managing periodontitis. While the awareness of its platform is important, this week’s developments have become a larger catalyst.
Was there a press release that came from the company? No, however, reports have surfaced that the European Patent Office granted Biolase a new patent. The title is “HANDPIECE FINGER SWITCH FOR ACTUATION OF HANDHELD MEDICAL INSTRUMENTATION.” Specifically, the invention provides a handpiece for medical instrumentation. It’s yet to be seen as to what the company says in response to this development. Needless to say, we can already see the market’s response late in the session on Wednesday.Penny Stocks to Watch: Lantronix Inc.
Lantronix Inc. (LTRX Stock Report) is a digital network company that works in data and data management. The company has been working on several IoT products to help assist businesses in their daily functions. Its three main product lines are IoT, IT management, and other digital solutions. While it does work in industrial sectors, its business spans several aspects of the market. This includes healthcare, security, energy, transportation and government operations.
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More companies than ever are turning to digital platforms. With this, it seems as though IoT and digital software companies are some of the most prominent businesses. Whether or not it is able to continue performing well remains unknown. This morning the company announced its new Open-O 865XR System on Model (SOM) solution for its IoT applications.
The product enables product designers to quickly kickstart development for IoT solutions needing advanced technologies. Some of the company’s listed customers on its website include Verizon, GE Healthcare, Bosch, Shell, Mitsubishi Electric, and Harris.
Considering Wednesday saw LTRX stock trade its highest single-day share volume this year, do you think the same momentum can carry through the end of the week?