What Are The Best Penny Stocks To Watch Today? 3 For Your List

3 Penny Stocks To Watch Today

Big news is already fueling momentum in the stock market today and a number of penny stocks are following with it. Over the weekend, Regeneron’s (REGN Stock Report) experimental drug to treat COVID-19 and used by President Trump received emergency use authorization by the FDA. As we’ve seen for the last few weeks, positive vaccine news tends to boost markets.

In light of the latest from Regeneron & on the heels of Pfizer (PFE Stock Report) & Moderna (MRNA Stock Report), this trend continues at the top of the week. What’s more, is that biotech developments remain a key focus. Merck (MRK Stock Report) closed a deal acquiring Oncolmmune for a cool $425 million. The drugmaker bought the company to gain exposure to a potential medication for critically ill COVID-19 patients.

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With all of these coronavirus headlines, we can’t forget that cases hav continued surging. More than 140,000 new cases were reported in the U.S. on Sunday. This comes from data collected by Johns Hopkins. However, this could also be driving the bullish tone in light of vaccine and drug headlines reported this morning.

Penny Stocks & Thanksgiving Week

Keep in mind that this is a short week in the stock market. Thursday the market’s closed for the Thanksgiving holiday with Friday being a half-day. We’re likely to see how retail spending translates into Black Friday this year with social distancing rules being a factor. Needless to say, Cyber Monday could round things out a bit better for eCommerce retail sales.

Furthermore, this marks the start of the holiday season in general. Will we see the same trend as usual during the end of the year? Some analysts expect a strong finish to 2020. Jim Cramer of Mad Money, for instance, believes this to be the case. He says, “If you believe history will repeat itself this year, as it often does, then you might want to get long the whole market on Tuesday.”

Now, this is quite a different year. However, the market has remained in recovery mode for the last 8 months. That’s even with the economy not exactly reflecting the same tone. No matter the case, there are plenty of penny stocks to watch right now. Are any of these names on your list today?

Penny Stocks To Watch #1: Marathon Patent Group

Shares of Marathon Patent Group (MARA Stock Report) have surged in November. Thanks to the boom that bitcoin prices have experienced, cryptocurrency and blockchain stocks are in focus. Marathon, being one of the bitcoin mining stocks to watch, has gained attention for its plan of expanding operations in 2021.

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By the second quarter of next year, the company expects to have over 23,500 miners deployed equating to a 1,100% boost in mining capacity. In addition, Marathon is planning on $8.8 million in revenue per month and $6.7 million gross profit per month. The company also expects production potential of 15 to 20 Bitcoins per day.

Given the state of cryptocurrency prices and the fervent nature of traders flocking to the space, stocks like MARA could be on the radar right now. Evidently so, it’s understable that Marathon stock has climbed nearly 100% this quarter alone. Year-to-date, MARA stock is up over 340%.

penny stocks to watch Marathon Patent Group (MARA stock chart)

Penny Stocks To Watch #2: Gevo Inc.

Gevo Inc. (GEVO Stock Report) is another one of the names we’ve followed this quarter. Since the start of October, GEVO stock has managed to climb more than 40%. The second half of the year has been positive for the company. Gevo announced in August that its long-term revenue contracts exceeded $1.5 billion. With energy stocks, specifically alternative energy stocks gaining ground this year, Gevo became part of the bigger conversation.

The company focuses on net zero carbon emissions fuels. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials to do so. With president-elect Joe Biden focuses on energy alternatives, companies like Gevo have stood out a bit more in recent weeks. In its latest earnings update, company CEO Dr. Patrick R. Gruber explained the focus for Gevo moving forward. Furthermore, Gruber highlighted the company’s cash position and its ability to finance projet development well-into next year.

“With customers pinned down and enough money in the bank to complete the engineering and project development work needed to bring projects to financial close next year, and because we have several interested project equity investors engaged in detailed due diligence, I believe that our project financing activity with Citigroup is going well, so far.”

penny stocks to watch Gevo Inc. (GEVO stock chart)

Penny Stocks To Watch #3: The9 Ltd.

The9 Ltd. (NCTY Stock Report) has been somewhat of an ambiguous name in the market this year. The company rarely puts out press and when it has, it usually pertained to capital raising efforts. The9 defines itself as “an internet company” however, there is a bit more to consider than just the vague “about”.

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But rest assured, there are a few things to point to consider. Earlier this year, the company signed an agreement with Voodoo, a French game developer and publisher. The9 and Voodoo will collaborate on the publishing and operation of casual games in mainland China.

Voodoo is one of the world’s largest developers and publishers of casual games and hyper-casual games. These games have been downloaded 3.7 billion times on iOS and Android phones cumulatively up-to-date, with monthly active users of 300 million.

Chris Shen, the President of The9 commented, “With the expansion of the game user base, casual games have shown rapid development prospects in China and worldwide. Through our strategic cooperation with Voodoo to jointly publish and operate a variety of casual games in China, we can leverage the popularity of high-profile game IPs in the Chinese market to grow our casual game market share.”

penny stocks to watch The9 Ltd. (NCTY stock chart)

The post What Are The Best Penny Stocks To Watch Today? 3 For Your List appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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