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Hot Penny Stocks to Buy Right Now? 3 For Your Watchlist

3 Penny Stocks to Add to Your Watchlist Right Now

Making a penny stock watchlist right now? Well, before you start, there are a few things that you should know. For one, the current state of the stock market means that there is high volatility with both penny stocks and blue chips. And as a result, investors need to continuously update their strategies to align with what’s going on in the stock market right now.

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The largest impacting factor in September and in the past year and a half has been Covid. While cases have dropped in some areas of the country, worries are still around that the pandemic may not end soon enough. And as a result, some traders are utilizing cautious optimism to lead their strategies. This means investing in penny stocks that could have lower volatility than others.

In addition to this, the recent trend of meme stocks has made a resurgence with several penny stocks climbing in substantial percentage points in only a short time frame. This is a major positive, and shows that there is a sizable amount of bullish sentiment in the stock market right now. So, if we take all of these factors together, we see that there are plenty of tools to use for your investing strategy in 2021. Considering this, let’s take a look at three penny stocks to watch right now.

3 Penny Stocks to Watch in September 2021

  1. Luokung Technology Corp. (NASDAQ: LKCO)
  2. Leap Therapeutics Inc. (NASDAQ: LPTX)
  3. Cinedigm Corp. (NASDAQ: CIDM)

Luokung Technology Corp. (NASDAQ: LKCO)

Luokung Technology Corp. is a tech penny stock that has climbed by over 17% in the past month and 275% in the past twelve months. This company offers location-based services and mobile apps. Its Luokuang mobile app is a content and service distribution platform offered to long-distance travelers in China. Luokung also offers software development kits and app programming interfaces.

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On September 16th, the company announced that its operating affiliate eMapgo Technology Co. Ltd. signed a new cooperation agreement. This agreement was made with Microsoft to launch autonomous driving services. EMG will work with Microsoft to provide auto manufacturers with services like collection and management of autonomous driving data, and much more.

“We believe EMG’s core competencies in LBS and HD Maps are an ideal fit with Microsoft’s considerable advantages in areas of cutting-edge technology such as cloud computing, artificial intelligence, elastic computing, and mixed reality.”

Chairman and CEO of Luokung, Mr. Xuesong Song

Following this announcement, LKCO stock has gone up a lot in the market. The company’s recent average volume is more than 43 million compared to its previous average of about 7 million. With this in mind, will LKCO stock make your watchlist in 2021?

Leap Therapeutics Inc. (NASDAQ: LPTX)

Leap Therapeutics Inc. is a penny stock that has climbed by a more than substantial almost 70% in the past five days. This is a sizable gain and one that should be kept in mind when considering LPTX stock for your watchlist. This biotech company is developing various therapies for treating cancer. Its lead program is DKN-01, which is for treating esophagogastric cancer, hepatobiliary cancer, and more. DKN-01 is a monoclonal antibody that inhibits Dickkopf-related protein 1. So why has this penny stock been going up so much in the market?

On September 15th, the company presented updated positive data from its DisTinGuish study of DKN-01 plus tislelizumab. DKN-01 plus tislelizumab and chemotherapy showed “compelling activity” in first-line patients that had gastric or gastroesophageal junction cancer. The company also presented additional data, which showed that responses to treatment and independent of PD-L1 expression. Data like this is always exciting to consider as it shows the potential of the company and its pipeline.

“The additional data presented today show evidence that not only is DKK1 a critical biomarker in predicting response to DKN-01 and tislelizumab therapy, but also that the combination can induce deep responses regardless of the patient’s PD-L1 status, including particularly poor prognosis patients with both low PD-L1 and high DKK1.”

Samuel Klempner, a Faculty Member at Massachusetts General Hospital Cancer Center and Harvard Medical School

One day after this information was presented, the company’s stock price shot up by over 31% in the market. Considering this info, is LPTX a contender for your penny stocks watchlist?

Cinedigm Corp. (NASDAQ: CIDM)

Cinedigm Corp. is an entertainment penny stock that we have discussed frequently in the past few months. In the last thirty days, shares of CIDM stock have climbed by over 25% bringing its YTD gain to over 230%. This company distributes and holds the rights to movies, television programs, and short-form content. These products are distributed to a wide variety of brands such as Hallmark, NFL, NHL, Konami, and Televisa, and many others. Its products are also distributed to home entertainment platforms like Netflix, Hulu, Amazon Prime, and Apple.

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On September 9th, Cinedigm reported its first-quarter fiscal 2022 results. Its revenue for the quarter rose 249% year over year, totaling $15 million. Cinedigm’s streaming revenue also grew year over year, by a whopping 181%. The company’s ad-supported streaming channel revenues and subscription streaming channel revenues went up 301% and 88% respectively. These numbers are highly encouraging and show that Cinedigm is growing even in the challenging environment that we are currently in.

“All our streaming metrics continue to climb dramatically and we have solidified our position as a leading independent player in the streaming space with a broad and successful portfolio of targeted enthusiast channels. We intend to capitalize on all this momentum by rapidly growing the business both organically and through our already successful streaming asset acquisition roll-up strategy.”

Chairman and CEO of Cinedigm, Chris McGurk

Following this announcement, CIDM stock has increased by $0.15 per share in the market. With this in mind, will CIDM make your list of penny stocks to watch?

Which Penny Stocks Are You Watching in 2021?

Finding the best penny stocks to buy right now can be challenging. With so many factors to keep track of, picking top penny stocks that could have bullish momentum is not easy. But, with the right research and a commitment to understanding the current state of the market, it can be possible. Considering all of this, which penny stocks are you watching in 2021?

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