Should you catch yourself looking for penny stocks to buy, you've probably got some criteria to go on. Even if it's simply looking for speculative momentum, you at least have some strategy in mind. It's what we've seen in the stock market today, thanks to the rise of Trump stocks like Digital World Acquisition Corp. (NASDAQ:DWAC). The SPAC plans to become TRUTH Social Media's new home and former President Donald Trump's new media company.
While the broader focus may be on stocks with some tie to the former President or new SPACs to buy, small-cap stocks are waking up as a result. It's not just about meme stocks or short squeeze penny stocks either. Now we see new trends emerge in things like technology and energy. Something else I've seen as an "emerging trend" of sorts relates to the prices of stocks themselves.
It's one thing to talk about penny stocks - stocks under $5 - but it's another thing to focus on the stocks trading for some of the lowest prices in the stock market today. When you're looking at stocks under $1, for instance, even the slightest change in price can equate to a dynamic shift in percentage gains (or losses). That's one of the biggest reasons day traders look for cheap stocks to buy. In this article, we'll look at a few of these low-priced stocks turning heads in the stock market right now.
Top Penny Stocks To Watch Under $1
- Alpha Esports Tech Inc. (OTC:APETF) (CSE:ALPA)
- Borqs Technologies Inc. (NASDAQ:BRQS)
- SuperCom Ltd (NASDAQ:SPCB)
- High Wire Networks (OTC:SGSI)
- Cyren Ltd (NASDAQ:CYRN)
Penny Stocks To Watch 1. Alpha Esports Tech Inc. (OTC:APETF) (CSE:ALPA)
If there's a list of "new hot industries" to take a closer look at, Esports is on it. It has gained popularity over the last few years, but the pandemic era in 2020 amplified that interest. Stay-at-home orders and lack of professional physical sports strengthened the spotlight on this industry in a big way. Now many are projecting this to become the next big billion-dollar industry. According to data from Statista,* global esports revenue will break the billion-dollar barrier this year and increase by nearly 50% more by 2024.
So it makes sense as to why companies like Alpha Esports Tech are vying for positions right now. Since its public debut earlier this year, the company has focused on one thing: growth. The cornerstone of its business is its GamerzArena platform offering novice and professional gamers esports experiences. It also fosters gamer development, offering players and professional scouts to interact with "tomorrow's pro" athletes. According to the company, the product boasts over 100,000 active users and a rapidly evolving ecosystem.
The last few updates from the company show how this growth initiative is getting quickly carried out right now. There is already a roster of companies that've partnered and worked with Alpha (see more here), and the company continues inking new deals. These include a partnership with Esports Entertainment Group (NASDAQ:GMBL)'s EEG Labs, the Nets Gaming Crew (the NBA 2K League affiliate of the Brooklyn Nets), and it even acquired Heavy Chips Casino and Sports Betting, which opens up entirely new opportunities for Alpha.
Alpha also has a leadership team with experience at Activision, Atari, Reel One Entertainment, The Golden State Warriors, and others. With this backdrop to an already active year, APETF/ALPA has been one of the penny stocks to watch under $1.
2. Borqs Technologies Inc. (NASDAQ:BRQS)
Another one of the technology penny stocks to watch is Borqs Technologies. The company provides software for the increasingly popular "Internet of Things" or IoT. Last week we highlighted the company as sympathy sentiment (unrelated to DWAC stock) helped give things a boost in the market (See: 4 Hot Penny Stocks To Watch After The 1,282% HX Stock Rally).
There are a few things to keep track of if BRQS stock is on your list right now. First, thanks to the excitement pushing crypto stocks, Borqs's strategic investment and collaboration with Zippie is a crucial item to note. Zippie is a blockchain application and payment platform. The two plan on developing solutions for IoT-related autonomous payments and service the growing demand for digital currency transactions. With that, BRQS could be in the spotlight thanks to a surge in recent bullish sentiment from Bitcoin prices spiking.
Then you've got the latest development that gets Borqs into the green energy niche. This is another red hot part of the stock market today, with solar power and alternative power supply options taking center stage. Borqs announced last week that it would acquire a controlling interest in solar energy and storage company Holu Hou Energy. So you've got another area where BRQS stock could benefit from optimistic industry sentiment.
In both instances, Zippie and Holu Hou expect to report strong figures in the near term. By the end of 2021, the Zippie payment system is expected to be connected to 1.3 billion mobile wallets and 3 billion bank accounts globally. Meanwhile, According to Borqs, this will add approximately $48M of Revenue in 2022 and $8.2M of EBITDA with projected 2025 revenue of $145 million.
Penny Stocks To Watch 3. SuperCom Ltd (NASDAQ:SPCB)
SuperCom is another tech company focused on IoT, among other things. It caught a nice surge in momentum thanks to underlying bullish sentiment stemming from the communications area of the market. News unrelated to SuperCom and other communications companies helped trigger a ripple effect across several small-cap stocks. AgEagle Aerial (NASDAQ:UAVS)'s subsidiary, MicaSense, tweeted out a save-the-date for October 26th. This is when the company is expected to launch a new sensor designed for agricultural crop management.
But it might've not been this tweet in particular that helped spark momentum for certain penny stocks. This comes just a few days after Apple (NASDAQ:AAPL) filed a patent for unmanned aerial systems in cellular networks. Components manufacturers and providers have been a focus since this came to light.
Supercom has a suite of monitoring service solutions spanning multiple industries. These include everything from government and law enforcement to building access and even livestock monitoring. With this latest sentiment-based move, traders seem to have added SPCB stock to their watch list for now.
4. High Wire Networks (OTC:SGSI)
High Wire has been one of the tech penny stocks we've discussed for weeks at this point. During that time, SGSI stock has also experienced a surge in momentum thanks to reaching new corporate milestones. These include a multi-million dollar contract win from a Tier 1 network services provider. In particular, High Wire will provide a fiber network across the country for an unnamed "national communication services provider."
Full production will be ramped up through November, with High Wire providing support for the new client's plan for extending its fiber network to new locations. "This is a testament to the hard work of our combined sales organization and our focus on profitable revenue growth," said Mark Porter, President, and CEO of High Wire. "As we continue to deliver unrivaled services in technology, managed cybersecurity, and commercial electrical, we see tremendous growth in every aspect of our business. We expect to get better and faster."
What may be a more significant focus for retail traders right now is the potential uplisting of the company to the Nasdaq exchange. At the end of September, the company announced hiring a new Executive Vice President of Finance to accelerate this process. For now, High Wire awaits its formal name (HWN Inc.) and symbol change as it continues walking down this path, and traders look for any further progress updates on the proposed Nasdaq uplisting.
5. Cyren Ltd (NASDAQ:CYRN)
Cyber security has become a more significant focus as the world becomes more in tune with virtual business. HP pointed out the situation that IT teams face when improving cybersecurity for the world's remote workforce. The study found that IT workers feel that there is no choice but to compromise cybersecurity to appease workers complaining about slower business processes. In essence, these cybersecurity methods are believed to "get in the way" of deadlines and time-sensitive projects.
Cyren specializes in digital threat intelligence solutions, and according to the company, more than 1.3 billion global users depend on its cloud security for cyber security and ransomware threat protection. What's more, CYRN stock has become a watch list name thanks to increased attention from global governments on ransomware activity. Earlier this year, the White House said will convene a 30-country meeting this month to speed up international efforts to address the threat of ransomware to economic and national security. With this backdrop, CYRN could be one of the penny stocks to watch as global ransomware safeguards become a focus for governments.
Are Penny Stocks Worth It?
When you look at cheap penny stocks under $1, there are many different things to keep track of, depending on your strategy. Are you simply looking to find stocks making volatile swings and benefit from the quick price movement? On the other hand, are you actually looking to find "early" opportunities to see emerging growth companies from their infancy. Risk and reward should always be weighed in either case because the ultimate goal is to make money with penny stocks.
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End Notes: Statista Esports Revenue Projections
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