List Of Penny Stocks to Buy This Week? 7 to Watch Right Now

July 2, 2021 5:05 PM EDT

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7 Penny Stocks That You Need to Take a Look At

Finding the best penny stocks to watch in 2021 is a challenge. With so many factors shifting the fundamentals of how penny stocks trade, there are plenty of things to keep track of right now. When it comes to trading penny stocks in July, there are three distinct things to keep in mind. First, the pandemic and the continued effects of the Delta variant are offering continued volatility that investors can take advantage of.

Second, we have long-term inflation to consider in our portfolios. This is something that will happen and is not speculation per se. However, the matter of how much and when is still on the table. If you're wondering why this is inevitable, there are two clear reasons. On one hand, we have the trillions of dollars that have been printed in the past year. And on the other hand, we have the billions that have been given out to the public and to companies in desperate need throughout the pandemic.

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While this should not serve to incite fear, it should become a part of your trading strategy. The last factor to keep in mind is the reopening of the economy. Again, it is difficult to say when this will happen and to what extent it will occur, but as case numbers decline (despite the variant), many believe that this will happen soon. Considering all of this, here are seven penny stocks to watch right now.

3 Penny Stocks for Your Watchlist Right Now

  1. Auddia Inc. (NASDAQ: AUUD)
  2. Farmmi Inc. (NASDAQ: FAMI)
  3. VEON Ltd. (NASDAQ: VEON)

1. Auddia Inc. (NASDAQ: AUUD)

It's worth noting off the bat that AUUD stock is no longer a penny stock as of this week. However, it was under the $5 mark on Monday, June 28th, and since then we've discussed it several times. For this reason, it's worth mentioning it as news continues to come out of Auddia.

For those unfamiliar, Auddia Inc. is a media company working in the audio development area of the radio industry. It offers a proprietary AI platform that can personalize radio content with no commercials. This platform was recently announced, and is the first of its kind, sparking AUUD's move out of penny stock territory. Only a few days after this announcement, Auddia stated that it will be releasing its Audio App on the AppStore ahead of schedule.

"Launch of the Auddia App represents the culmination of an incredible amount of vision, innovation, dedication, and persistence across the entire Auddia team. Courage never quits, and I could not be prouder of the steadfast resilience our team displayed in achieving this remarkable milestone."

Jeff Thramann, CEO of Auddia

While many believe radio could be on the way out, the increased attention to podcasts has brought it into a new era. So, whether AUUD stock is worth watching or not is up to you.

Penny_Stocks_to_Watch_Auddia INc. (AUUD Stock Chart)

2. Farmmi Inc. (NASDAQ: FAMI)

Another penny stock that we've discussed frequently in the past few weeks is Farmmi Inc. Since the end of April, shares of FAMI stock have increased by a respectable 25% or so, putting it at its July 2nd price of just under $0.50 per share. One of the interesting factors about Farmmi Inc. is that there aren't many other penny stocks like it.

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Farmmi is a China-based producer and supplier of various edible fungi products. This includes Mu Er mushrooms, Shiitake mushrooms, and other similar offerings. The company has seen the demand for its mushrooms skyrocket during the pandemic, securing new export orders and other potential contracts along the way. At the end of June, Farmmi announced that it had won a new product order from a long-term customer for its dried fungus product.

"Our level of customer engagements continues to expand were add further value with our leading packaging and logistics to ensure product quality, flavor and minimize costly waste.

We are focused on accelerating Farmmi's revenue growth and overall expansion as we leverage our large scale to serve higher demand levels worldwide.

We expect our accelerated growth will continue, led by catalysts from health and wellness, professional and aspiring cooks, and an expansion of the overall consumption of mushrooms."

Ms. Yefang Zhang, CEO of Farmmi

While this contract alone is not a major deal, it is reason to show that Farmmi is seeing increased demand. Considering this, will FAMI stock be on your watchlist moving forward?

Penny_Stocks_to_Watch_Farmmi Inc. (FAMI Stock Chart)

3. VEON Ltd. (NASDAQ: VEON)

VEON Ltd. is a tech penny stock working to provide connectivity and services to nine countries around the world. It states that the countries it operates in represent almost 10% of the global population, adding a great deal of potential market size to its operation.

At the end of June, VEON announced a new 10-year syndicated credit facility worth $360 million. Serkan Okandan, CFO of VEON states that "this facility is a further milestone in our ongoing efforts to improve the Group's capital structure by increasing local borrowing to match our local currency revenues while extending the mature of our debt portfolio."

Credit is always a major positive for investors to consider as it allows for both short and in this case, long-term growth. With any company, capital is the key to securing advancements in a business model, and this is a major debt facility to consider. This is also the first of its kind to be extended to the telecom sector in Pakistan, which could supply years of market value to VEON's business overall. While this will take some time to play out, for now, is VEON stock worth keeping an eye on?

Penny_Stocks_to_Watch_VEON

4 More Penny Stocks to Watch

  1. Enzolytics Inc. (OTC: ENZC)
  2. Denison Mines Corp. (NYSE: DNN)
  3. B2Gold Corp. (NYSE: BTG)
  4. Iamgold Corp. (NYSE: IAG)

What Does Your Penny Stocks Watchlist Look Like?

Making a penny stocks watchlist is not easy and it never will be. But, with the vast amount of resources available online, it can be much easier than previously imagined. Investors need to consider what is going on in the world and how that may affect a given company or industry at large.

[Read More] 8 Penny Stocks to Watch Right Now As June Comes to an End

Because penny stocks are so speculative, world events will always have a major impact on price movement and momentum. So considering all of this, what does your penny stocks watchlist look like right now?

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