Top 3 Penny Stocks to Buy Right Now for Your 2021 Summer Watchlist

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Best Penny Stocks to Watch in Summer 2021

With Summer upon us, which penny stocks are investors buying right now? Well, there are quite a few answers to this question. The first thing to consider is the current trends in the market. While blue chips are often traded via fundamentals, penny stocks tend to trade more based on speculation. 

For this reason, understanding geopolitical, industry-specific, and company-specific events, will be a major benefit to your portfolio. Right now, we have the pandemic coming to a close, long-term fear of inflation, and the market influence that retail traders now have. These three factors alone are some of the largest contributors to movement in the stock market in June 2021.

Looking at the impact of retail traders, many believe that we could completely skip the so-called ‘Summer slump’. This is the typical low volume and sideways movement pattern that we often see during the summer months. But, with so many traders on Robinhood, and those in communities on Reddit, we could see more volume than usual in the coming two to three months. 

In the past few months, we’ve witnessed major movements with popular ‘meme stocks’ as they’re known. These are highly discussed companies on various social media. This includes companies such as AMC Entertainment Holdings Inc. AMC, GameStop Corp. GME, and more recently, BlackBerry Ltd. BB and Orphazyme ADR ORPH. It’s worth noting that ORPH stock is highly volatile, and could be considered riskier than most. These four stocks have climbed substantially in the past six months, for the reason of them being well-known across Reddit, Twitter, and other social media websites. So, keep this in mind when looking for penny stocks to watch.

Next, we have the pandemic and the massive vaccine efforts that are in play. While it’s difficult to say with certainty that Covid is almost over, declining case numbers globally mean that we could be near the end. For this reason, many investors are turning to reopening penny stocks as a way to play the mid-term in the market. Considering all of these events, here are three top penny stocks for your Summer 2021 watchlist. 

3 Penny Stock to Watch in Summer 2021

1. Vinco Ventures Inc. BBIG 
2. Citius Pharmaceuticals Inc. CTXR 
3. Seanergy Maritime Holdings Corp. SHIP 

Vinco Ventures Inc. BBIG 

Up by around 7% at midday on June 16th is a penny stock that we’ve discussed frequently in the past few months. It’s difficult to pinpoint just one industry that Vinco works in as its acquired companies are quite broad. However, it mostly invests in the areas of digital media and content tech. Its main strategy is what it called B.I.G. or Buy. Innovative. Grow. 

This involves finding undervalued media and media tech companies, where it can then scale up operations and grow the company overall. In recent news, Vinco Ventures has been working on a merger with its subsidiary ZASH Global Media and Lomotif Private Ltd. This will be completed through Vinco and ZASH’s joint venture known as ZVV Media Partners. 

Only a few weeks before this, the company also announced its entrance into the NFT industry, with an exclusive release from the music artist Tory Lanez. This will be completed through Vinco’s subsidiary, Emmersive Entertainment. 

Tory Lanez states that “countless people have attempted to enter the NFT space after my success with the format, but didn’t understand what it was. They treated it as a money grab instead of learning how best to utilize the technology. NFTs are not a here today, gone tomorrow trend, but rather represent the future of digital distribution and beyond.” Considering these two large advancements, (BBIG) continues to be a popular penny stock to watch. Whether it deserves a spot on your watchlist, however, is up to you. 

Citius Pharmaceuticals Inc. CTXR 

Citius Pharmaceuticals is another penny stock that is frequently talked about across social media. In the past month, shares of (CTXR) stock have shot up by a solid 60% or so and in the past six months, by over 190%. For some context, (CTXR) is a biotech penny stock working on anti-infective compounds. This includes its drug known as Mino-Lok, which is an antibiotic lock solution in use for the treatment of catheter-related bloodstream infections. 

According to data released a few weeks ago, (CTXR) has a planned interim analysis for the Phase 3 trial of Mino-Lok scheduled for the end of this month. With over 80% enrollment in the trial, this Phase 3 data will show how well the trial is designed and how efficacious Mino-Lok is at treating this ailment. And, the company expects to receive data from the Independent Data Monitoring Committee or DMC by its scheduled meeting date of June 29th. 

Myron Holubiak, CEO of Citius states that “we look forward to feedback from the DMC following their review of the trial data.” While catheter-related infections are not the most common illness around, the number of those affected by this is quite large. Considering its position in this unique market, (CTXR) could be worth keeping an eye on. 

Seanergy Maritime Holdings Corp. SHIP 

Up by almost 30% in the past month and over 145% YTD is Seanergy Maritime Holdings Corp. Seanergy is a pure-play Capesize ship-owner operating a modern fleet of vessels that provide dry-bulk transportation services. Its operating fleet has an average age of 11.8 years with an aggregate cargo-carrying capacity of around 2.82 million dwt. Big news came out last week when Seanergy announced that it had taken delivery of two Capesize vessels. These vessels will both be up and running within the very near future. 

Stamatis Tsantanis, the CEO of Seanergy states that “I am pleased to announce the timely delivery of our fourteenth and fifteenth Capesize vessels and the immediate commencement of their respective period employments. We are also excited to initiate business relationships with two additional reputable charterers. Including these deliveries, 87% of our operating fleet is employed under advantageous medium to long-term charters.” On top of this, the company has secured financing for these recent acquisitions, which should help both its balance sheet and liquidity in the long run. 

Tsantanis goes on to state that “we believe Seanergy is optimally positioned to take advantage of the rising market conditions.” With the pandemic coming to an end, many industries can resume full operations. This means that the need for raw goods and therefore dry bulk transport could increase substantially in the coming months. With this exciting update in mind, (SHIP) stock could be an interesting addition to your watchlist.

Which Penny Stocks Are You Watching Right Now?

While a lot is going on in the stock market right now, plenty of penny stocks and blue chips are showing strong momentum. This is characterized by high volumes and large intraday spikes in value. 

Finding the best penny stocks to buy all comes down to knowing where to look. But, with the internet at our fingertips, anyone can have access to the same information as pro trades. Considering this, which penny stocks are you watching right now?

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.