As another week of penny stock trading commences, which companies are showing momentum? Well, one of the best ways to start the week off is by making a penny stocks watchlist. This can help to organize your list of penny stocks to buy according to what could be going on during the week. And, there are two things to note here.
First, what events are occurring and how will they impact the market. With penny stocks, this is especially true because they are so speculative. Also of note is that investors should consider the potential long-term impacts of these events and how that may impact your portfolio/watchlist.[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets
The next aspect to consider is which penny stocks made the biggest moves during the week prior? This should not be the only strategy you use, but finding the largest winners and losers of the week can be a great way to see which penny stocks may be popular the next week.
Now, it may seem counterintuitive to find the biggest losers of the week before, but often, penny stocks can fall greatly before shooting back up. So, with so much going on in the world right now, there are plenty of things for investors to keep track of. And with that in mind, here are some of the best penny stocks for your Monday watchlist.3 Penny Stocks to Watch on Monday
- Creative Realities Inc. (NASDAQ: CREX)
- Strongbridge Biopharma plc. (NASDAQ: SBBP)
- Castor Maritime Inc. (NASDAQ: CTRM)
On Monday morning, shares of CREX stock had shot up by around 41%. A major gain like this is not unheard of with penny stocks, but it is something to take note of. While there isn’t any company-specific news that came out today, we can look at its most recent balance sheet which was announced at the beginning of last week. Before we get into it, let’s go over what Creative Realities does.
CREX is a company working in the field of customer experience. It utilizes omnichannel technologies as well as CRI designs to offer better experiences for consumers. Additionally, it provides SaaS and support services through more than 15 different vertical markets.
This includes everything from automotive and advertising to convenience stores and stadium venues. Its operations are primarily in the U.S., but it does have contracts spanning more than ten countries globally. In its Q1 results released on May 17th, the company announced revenue of around $5 million with breakeven operating results. Net income came in at around $1.3 million with a positive adjusted and standard EBITDA.
“During the quarter, CRI undertook and achieved significant capital activities, including achieving forgiveness of our PPP Loan, completion of a registered direct offering, and refinancing of all outstanding debt facilities.
These activities provide the foundation and runway for the Company’s continued investment in customer acquisition and an expected return to growth in the second half of 2021.”Rick Mills, CEO of Creative Realities
While CREX has remained relatively under-the-radar, with gains like today’s, that likely won’t be for long. Considering this, will it be on your Monday watchlist?Strongbridge Biopharma plc. (NASDAQ: SBBP)
Up 14.9% by early morning trading are shares of the biotech penny stock, Strongbridge Biopharma. This comes on the back of some large news announced in pre-market hours. Strongbridge for some context is a commercial-stage biopharmaceutical company developing and commercializing therapies for rare disorders.
In its pipeline are compounds such as RECORLEV, an adrenal steroidogenesis inhibitor with an NDA currently under review by the FDA. Additionally, its compound veldoreotide, a treatment for acromegaly and other indications, is also moving along.[Read More] Penny Stocks and Small-Caps, What to Know About Trading This Week
Both of these compounds have received Orphan Drug Designation from the FDA which is a large milestone. Big news dropped today when Strongbridge announced that it will be acquired by Xeris Pharmaceuticals Inc. (NASDAQ: XERS) in a stock and CVR transaction. Xeris values Strongbridge at roughly $267 million and the deal should close by the fourth quarter of this year. The new entity will be named Xeris Biopharma Holdings Inc.
“This is a very compelling transaction that will create a scalable and diversified biopharmaceutical company increasingly oriented toward more specialty and rare disease products, positioning us for long-term product development and commercial success.”CEO of Xeris, Paul Edick
“We are excited to combine with Xeris to drive the next phase of our growth. Strongbridge has made significant progress advancing its portfolio of therapies for rare endocrine and rare neuromuscular diseases with focus, commitment, and passion for the patients and physicians that we serve.”John H. Johnson, CEO of Strongbridge
It is always exciting when we see a merger or acquisition in the biotech space. And for that reason, this deal is big news and easily explains SBBP’s large gain today. While it will likely take some time before this deal is finalized, in the meantime SBBP could be worth keeping an eye on.Castor Maritime Inc. (NASDAQ: CTRM)
Shares of Castor Maritime Inc. are seeing very high volume as of early morning trading alongside a major bear run. This has everything to do with the 1-for-10 reverse stock split that the company announced during after-hours on Friday. This stock split will not take effect until May 28th, but it will reduce the number of shares from roughly 900 million to around 90 million.
The goal with this split is for the company to have an easier time meeting the minimum bid requirement of $1 for the NASDAQ exchange. And because of this, investors could feel slightly more confident in its future. However, shares slid today by over 10% in early morning, presumably on the basis that shareholders would see their shares of CTRM reduce by a large number.
Castor Maritime has had a rough last year and a half as a major shipping transport provider working globally. However, in the past few months, demand for goods around the world has greatly increased as Covid cases have done the opposite. And with 26 vessels with an average carrying capacity of 2.2 million dwt, CTRM has the potential to remain a major player in the shipping industry.
Only a week ago, the company announced the acquisition of two more vessels, which resulted in a surge in its share price. This is great news for the company as the number of ships it has directly correlates to potential revenue.
So while there may be a bear trend right now for CTRM, only time will tell if it remains in the future. Regardless, CTRM stock could be an interesting addition to your list of penny stocks to watch.Which Penny Stocks Are You Watching?
Finding the best penny stocks to buy is all about understanding your strategy. And because this is unique to every investor, knowing what type of trader you are will always be your best tool.[Read More] 3 Robinhood Penny Stocks Under $2 to Watch Next Week
Because there are so many geopolitical and economic events occurring right now, it is easy to find both positive and negative momentum in the stock market. And, this volatility is usually what penny stock investors like to see. So, because of this, there is plenty of opportunities to be had in the stock market right now. With that in mind, which penny stocks are you watching?