The Best Penny Stocks to Buy This Week? 3 to watch at the end of July
Are those Penny Stocks on your list for next week?
With another week upon us, the opportunity to find valuable penny stocks to watch is once again palpable. But, in order to do this, investors need to consider a few factors. On the one hand, what’s going on in the world right now and how is that going to shape the short-term or long-term future of the penny stocks you’re interested in? Right now, two main factors are at play: the pandemic and inflation.
On the one hand, about 48% of the public in the United States is fully vaccinated. While this is substantial, it is also less than the amount needed for herd immunity. For this reason and due to the high transmissibility of the Delta variant, we are seeing a further increase in cases. This raises concerns for many investors in the coming months. However, this fear seems to be based on the short term, and many believe the future could be much brighter.
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Second, in the wake of Covid, we have seen massive inflation in the United States. While this is not a major concern for some penny stocks, others such as retail or commodities are affected.
All in all, we are in an extraordinary situation right now, and this is playing out in the minds of many investors in 2021. We see it with many days of big ups and downs with penny stocks and blues. chips. So while we’re not out of the woods just yet, this might be a great time to find penny stocks that have long-term value. With all of that in mind, here are three penny stocks to add to your mid-July watch list.
3 Hot Penny Stocks To Watch Right Now
- NovaBay Pharmaceuticals Inc. (NYSE: NBY)
- Staffing 360 Solutions Inc. (NASDAQ: STAF)
- Exela Technologies Inc. (NASDAQ: XELA)
NovaBay Pharmaceuticals Inc. (NYSE: NBY)
NovaBay Pharmaceuticals Inc. is a biotech penny stock that we have discussed frequently over the past few months. In some contexts, this creates a wide range of medical devices related to eye care. Its product Avenova allows individuals to clean and eliminate foreign bodies from the eye area. The company also offers a variety of other products, including KN95 masks, which are in high demand as the pandemic continues to show its face.
NBY’s recent announcements include a host of presentations in the near future. On July 14, NovaBay presented at the Ladenburg Thalmann Virtual Healthcare conference. And, on the 29th, the company will host one-on-one investor meetings at AGP’s MedTech virtual summer conference.
âWe are addressing extremely large markets with our two differentiated products, Avenova and CelleRx, and we look forward to sharing the details of our growth strategy at these conferences. ”
NovaBay CEO Justin Hall
In the past three consecutive quarters, the company has set record unit sales for its Avenova product. This is a big deal and it shows that this product could be a major source of income for NovaBay in the future. While this is somewhat of a niche market, many investors believe it could benefit NBY’s top and bottom results. With these positive developments in mind, will NBY stocks be on your penny stock watch list?
Staffing 360 Solutions Inc. (NASDAQ: STAF)
Staffing 360 Solutions Inc. is a penny stock that is currently experiencing both high volume and an even greater amount of price movement. For those who do not know it, Staffing 360 engages in the acquisition of recruitment companies. He works with temporary contractors as well as individuals for permanent placement in a variety of jobs.
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Staffing 360 Solutions works primarily with people working in finance, engineering, administration and business activities. On June 30, the company announced a reverse stock split to maintain its listing on the NASDAQ.
âWe are carrying out this reverse stock split to increase the price of Staffing 360’s common shares in order to restore compliance with the NASDAQ Capital Market continuous listing requirement of $ 1.00 per share.
We believe that trading our stocks in a national market increases our visibility in the market, improves liquidity, broadens and diversifies our shareholder base and ultimately improves long-term shareholder value.
STAF CEO and President Brendan Flood
During the pandemic, employment reports were understandably low. With more people at home than ever before, many people also lost their jobs and struggled to find a new one. But, as the pandemic slows in severity, employment reports are showing new signs of positivity. And that’s great news for both the economy and Staffing 360 Solutions.
While it will be a while before we can get back to pre-covid numbers, in the meantime companies like STAF appear to be interesting reopening penny stocks. Taking this information into account, will STAF stock be on your list of penny stocks to watch?
Exela Technologies Inc. (NASDAQ: XELA)
Technology penny stocks have seen an unprecedented increase in interest over the past year. In this sector, Exela Technologies is no different. This company is a leader in business process automation (BPA). It focuses on digital transformation solutions by improving quality, productivity and end user experience.
One of the main attractions of XELA stock is its international presence, working with over 4,000 customers in 50 different countries. XELA mainly works on solutions concerning finance and accounting, human capital management, banking, health, insurance and certain public sectors. These industries represent some of the most important markets for a company like Exela. And, as the world becomes more and more digital every day, the XELA stock continues to show increased potential.
Recently, XELA extended its AI-based automation to the BPA space. This new technology uses Intelligent Document Processing (IDP) in conjunction with the Robotic Process Automation (EON) platform. It’s a big deal and it shows that Exela is innovating and continuing to reinvent its current products.
Because the demand for BPA solutions continues to grow in the digital age we live in, Exela seems well positioned to continue to take advantage of them. Over the past month, XELA shares have risen more than 168%, with 55% of those gains in the past five days. So, given this major bullish sentiment, is XELA stock worth watching at this time?
What Penny Stocks are you looking at this week?
Finding the best penny stocks to buy is a combination of understanding speculation and fundamentals. With speculation higher than ever and resulting in increased volatility, prices are moving faster than they have been in months.
However, many companies have recovered from previous lows caused by Covid, resulting in better-than-expected fundamentals. So while it may be difficult to invest in penny stocks, it could also be profitable if done correctly. Given this, what penny stocks are you looking at this week?