3 Penny Stocks to Watch in the Second Half of the Month
With September already halfway done, there is a lot of movement with penny stocks to keep track of. Right now, the volatility of the stock market is highlighted by the large price swings we see daily. And as a result, it is extremely easy to both lose and make money with penny stocks. In order to stick to the latter, there are a few things that all investors should understand.
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For one, know what your investing style is and use that to your advantage. If you are more risk-averse, it may be best to stay away from highly volatile penny stocks. However, if you are inclined to invest in stocks with a higher probability of price fluctuations, then there are plenty to choose from. So, considering this high amount of momentum, let’s take a look at three penny stocks for your September watchlist.
3 Penny Stocks For Your Late September Watchlist
- Denison Mines Corp. (NYSE: DNN)
- Alset EHome International Inc. (NASDAQ: AEI)
- Safe Bulkers Inc. (NYSE: SB)
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a uranium exploration company that is based in Canada. Right now, there is a lot of bullish sentiment in the uranium industry. And we see this with shares of DNN stock pushing up by over 26% in the past five days. In the last month, DNN stock has climbed by over 70% bringing its twelve-month gain to over 295%. Part of this is due to the effects of retail investors, however, the price of uranium has also hit several yearly highs in the past few months.
The combination of discussions on Reddit and other social media sites and the rising price of uranium have both led to this overall bullishness in the uranium industry right now. And it’s worth noting that nuclear power, which primarily uses uranium, is one of the most renewable and cost-efficient methods of generating clean energy.
With the emphasis on clean power for the future, we see yet another reason why uranium stocks are shooting up. For some added context, Denison operates the Wheeler River uranium project which is located in the Athabasca Basin region in northern Saskatchewan. On August 5th reported its results from the second quarter of 2021.
“The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.”The President and CEO of Denison, David Cates
Keeping this new information in mind, will DNN be on your penny stocks watchlist as uranium stocks go up in price?
Alset EHome International Inc. (NASDAQ: AEI)
Alset EHome International Inc. is a holdings company with hands in everything property development to digital transformation technology and more. Alset also engages in biohealth activities, land development, sales and rentals, and several other industries. Currently, it is researching nutritional chemistry for creating a natural sugar alternative as one of its main projects. With all of this, we see that AEI is quite broad in how it operates. And in September 2021, investors continue to look for potentially diversified penny stocks to watch.
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On September 9th, Alset’s subsidiary American Pacific Bancorp Inc. received a $40 million investment from Document Security Systems (NYSE: DSS). APB will give 6,666,700 shares of its common stock at $6 per share to Document Security Systems. This is a subscription agreement and is great news for the company. DSS now owns more than 50% of APB’s outstanding shares of common stock. Deals like these can be common in the finance industry, however, they are always exciting for investors to consider.
“This investment represents a strong validation of APB’s business model, and this fresh injection of funds should significantly improve APB’s ability to execute its plans on an expedited basis.”The CEO of Alset EHome, Frank D. Heuszel
Over the past five days, shares of AEI stock have climbed by over 28% and in the past month by over 75%. These numbers are very solid and highlight the sizable growth that AEI stock is seeing right now. With this new info in mind, will AEI enter your list of penny stocks to watch?
Safe Bulkers Inc. (NYSE: SB)
Safe Bulkers Inc. is technically no longer a penny stock at around $5.20 per share. However, it was only a few days ago. Following a five-day gain of more than 29% and a one-month gain of almost 50%, SB stock has pushed up tremendously in only a short time frame.
If you haven’t heard of Safe Bulkers, it essentially owns and operates vessels for shipping services. There is a large variety of cargo that Safe Bulker’s ships can carry. Primarily, however, the company transports coal, grain, and iron ore. The company currently has 43 dry bulk vessels with an aggregate carrying capacity of 3,937,00 deadweight tons.
On August 2nd, the company entered a bareboat charter agreement with a purchase option for a capsize class dry bulk vessel. This is a 12-month bareboat charter agreement with a down payment of $4.5 million, $4.5 million on delivery of the vessel, and a daily charter rate of $14,500. Right now, the price of shipping dry bulk goods is increasing and has increased steadily in the past six months. And as a result, many investors are watching shipping stocks such as SB stock.
President of Safe Bulkers, Dr. Loukas Barmparis said, “Selective second-hand acquisitions and newbuild orders are within the context of our fleet renewal strategy.” As the company expands its fleet, it creates more room for positive performance. Over the past few trading days, SB stock’s upward momentum has brought a lot of attention to the company. Considering this, will it be on your watchlist in the second half of September?
Are Penny Stocks Worth Buying Right Now?
This is a question that investors often ask when considering whether to buy penny stocks or not. And the only real answer to this is that it is up to you and your trading strategy. Yes, penny stocks do present a lot of money-making opportunities.
However, if you don’t know how to trade or you are just starting, it is extremely easy to lose money with small caps. So, do the proper research and only invest what you are willing to lose. Considering this, do you think that penny stocks are worth buying right now?