4 Hot Penny Stocks For March 2021
MarketBeat.com | Mar 02, 2021 01:40AM ET
There are lots of reasons to invest in penny stocks and few definitions of what, exactly, makes a penny stock. Regardless of your reason or how you classify penny stocks the lineup we have for you today is one that any investor may find interesting. In all cases, the stocks are supported by secular trends and no few the aid of government support be it regulatory or otherwise. The bottom line, if you are looking for some cheap stocks with a high potential for growth, the kind of growth that can really leverage your capital, these stocks may be what you are looking for.
h2 Zomedica, Another Hot Name In Pet Care/h2Zomedica Pharmaceuticals Corp (NYSE:ZOM) is a development-stage diagnostic and pharmaceutical company with a focus on pets. That may seem odd but the pet care industry is worth upwards of $100 billion annually in the U.S. alone and growing at a mid-to-high-single-digit CAGR. Names like Chewy (NYSE:CHWY) and Freshpet (NASDAQ:FRPT) have seen their growth go off the charts and we expect the same for this company. Within the pet care industry, veterinarian and related services are the #2 category accounting for a third of all spending. The stock has seen some recent action due to events that 1) greatly improve the company’s liquidity position and 2) have it on track to begin sales of its first product this quarter. And then there is the Robin Hood factor. Investors (traders) at Robin Hood have been helping to pump this one higher so be sure to wait for pullbacks before making entries.
Meten Edtechx Education (NASDAQ:METX) is a Chinese-based education company specializing in English-language programs for business and industry. The stock, along with most others in the broader education group, has been trading near a post-COVID low in recent months but might be putting in a bottom. The recent price action suggests that a reversal is in play and the fundamental story matches up with that outlook. A recent uptick in billings and enrollment to the tune of 238% and 192% is the reason. The uptick suggests not only is the Chinese economy coming back but demand for English suggests optimism for renewed trade with the U.S. now that a China-friendly administration is in place. Regardless, with enrollment and billings on the rise the outlook for revenue growth and positive EBITDA is vastly improved.
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Vislink Technologies (NASDAQ:VISL) manufactures and markets a wide array of wireless communication equipment, devices, and services worldwide putting it in a great position for today’s market. The company’s products can be found in broadcast, radio, cellular, IoT, and 5G devices which set it up for steady if not steadily growing demand over the coming years. The most recent development is the first shipment of the new DVE 6100 encoder. The encoder is for use in satellite technology and has the capability to encode all video quality from SD to the 4K High Dynamic Range. With shares down from the post-release high the stock is set up for another move higher that could take it above $5 before midyear.
While the American coal industry is on its way out there is still a high-demand for metallurgical quality coking coal. According to the IEA, the 2021 demand is expected to rebound by 7% from the 2020 period and regain pre-COVID levels in early 2022. Based on our forecasts for the global rebound, the IEA estimates are very conservative and mean this American Resources (NASDAQ:AREC) will see accelerating revenue and earnings in its core business. And there is more. This company is expanding its reach into rare earth metals and the market likes what it is seeing. To start, the company licensed technology that will aid it in recovery and then compounded the good news by launching a SPAC. The SPAC is looking for a target in the land-holdings and resource industry, a perfect match for its rare-earth ambitions.
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