Finest Penny Shares to Purchase Now? Three to Watch In Early August

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August 1, 2021 6 minutes to read

This story originally appeared on PennyStocks

3 penny stocks for your watchlist in early August

With a new month, now is the time to find the best penny stocks to buy. But it’s not that easy to make a watchlist and hope for profits. Rather, investors need to understand where the stock market is headed and which penny stocks can benefit from it. In 2021, the task is to consider how short-term trends in certain penny stocks can lead to increased popularity or higher volume.

And because so many events take place at the same time, it can be a lot to keep track of things. However, by paying attention to the news and fully understanding how it could affect different industries or companies, investors can work to stay one step ahead of the game. The best trader will always be the one with the most information at hand. And in 2021, information will be more accessible than ever.

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With Robinhood’s initial public offering only a few days ago, we see that trading is open to all. Because the stock market is so democratized at the moment, billions in capital have flowed in within a short period of time. So note that the volatility is high, but the chance of making a profit can be just as high if you know how to trade penny stocks. With all of that in mind, let’s take a look at three that we should check out in early August.

3 Hot Penny Stocks That You Should See Right Now

  1. New Oriental Education & Technology Group Inc. (NYSE: EDU)
  2. Ebang International Holdings Inc. (NASDAQ: EBON)
  3. Globalstar Inc. (NYSE: GSAT)

New Oriental Education & Technology Group Inc. (NYSE: EDU)

In the last few months the trend of educational penny stocks has increased sharply. And one of the most interesting companies in this field right now is New Oriental Education & Technology Group Inc. This company provides private K-12 educational test preparation services. As of May 1st, 2020, the company’s services and programs were offered in 104 schools, 1,361 learning centers, and 12 bookstores. This is considerable scope for the company that could prove beneficial in the long run.

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Only recently, the Chinese government banned for-profit tutoring. While this, as expected, led to a decline in the price of the EDU share, the shares experienced a small comeback shortly afterwards. In the past year, the EDU share lost over 85% of its value.

However, in the past few days, stocks have soared over 15%. In addition, the company’s volume has also increased significantly during this period. Needless to say, the situation in China still raises more questions than answers, so a more speculative mood has developed in the market. Based on this information, you can decide whether or not EDU stock is worth a look.

Ebang International Holdings Inc. (NASDAQ: EBON)

Ebang International Holdings Inc. is a blockchain penny stock that we have been discussing for a long time. The company makes a wide range of blockchain-related products. Because of this, its share price is usually highly correlated to that of certain cryptocurrencies.

Specifically, Ebang makes bitcoin mining machines for sale in the United States, China, and Hong Kong. The company also offers hosting services for mining machines for remote use. This has become a popular trend among Bitcoin miners as remote hosting is much more efficient than in-person operation.

With cryptocurrencies like Bitcoin and DogeCoin exploding in value at certain times in 2021, the company has also seen a lot of positive momentum. 2021 was a milestone for crypto due to its huge popularity and massive attention in the news. And as mentioned earlier, keeping up to date on the price of crypto is important as EBON stock often moves with the crypto industry as a whole. In addition, EBON has benefited from the severe microprocessor scarcity of the past few months.

As a provider of Bitcoin mining machines, Ebang has significantly increased the demand for its products during this time. In the past five days, EBON’s stock is up over 3.5%. While this may not seem like a huge win, it is substantial given how EBON has performed over the past six months or so. With this information, is EBON a contender for your penny stock watchlist?

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Globalstar Inc. (NYSE: GSAT)

Globalstar Inc. is a penny stock for communications that has moved in the market for the last year or so. YTD, GSAT stock is up a staggering 305% or so. And while prices have been falling over the past month, we can look at the future prospects Globalstar has to see where the journey could go.

In some contexts, Globalstar is a company that provides mobile satellite services such as GPS tracking for emergency locations, theft protection, asset tracking, and more. It also offers IoT tracking devices for freight, container and rail cars. With the increasing globalization of the world, such devices are essential to keep the transportation industry running. And it also works as a complement to Globalstar’s other assets.

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On July 1, Globalstar announced its partnership with FocusPoint International Inc. FocusPoint will provide crisis relief services to Globalstar customers under the Global Overwatch & Rescue Plan.

“We are very pleased to be able to offer this valuable service to Globalstar customers. Many of our users play extreme sports and travel more than average, making this a service that can help improve our customers’ safety. FocusPoint offers a comprehensive risk advisory service that is a great addition to the connectivity we offer our clients. ”

Globalstar CEO David Kagan

The security market is big and growing. With the pandemic returning for a fourth wave, many are foregoing large population vacations and choosing to stay outdoors instead. This means that if everything goes according to plan, the demand for GSATs products could increase. In light of this latest announcement, will GSAT stock be on your watchlist?

Penny_Stocks_to_Watch_Globalstar_Inc ._ (GSAT_Stock_Chart)

Which penny stocks do you invest in?

Finding the best penny stocks in 2021 can be a challenge. But by learning to trade penny stocks, investors can stay on top and feel confident in their future strategies. With this in mind, which penny stocks are you currently investing in?

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