As investors return to work following the long weekend, which penny stocks are showing momentum right now? Well, there are quite a few industries that are in mind in early July 2021. And to understand which, traders need to take a deep dive into the current state of the economy. The most pressing factor right now is the pandemic and the effects of the Delta variant.
With higher case numbers occurring globally, many investors are turning to penny stocks that benefitted from the pandemic early on. This includes mining stocks, tech stocks, and biotech stocks. However, there are plenty of others that are showing bullish interest. And, we also have to account for the fears of long-term inflationary effects as a result of the billions in stimulus given out in the past year and a half. So, with all of this in mind, let’s take a look at eight penny stocks to watch this week.5 Penny Stocks to Watch Right Now
- Yamana Gold Inc. (NYSE: AUY)
- B2Gold Corp. (NYSE: BTG)
- Marin Software Inc. (NASDAQ: MRIN)
- Farmmi Inc. (NASDAQ: FAMI)
- Harmony Gold Mining Co. Ltd. (NYSE: HMY)
Yamana Gold is a precious metal producer that explores, produces, and sells gold and silver ores from its mines. Its mines are actively operated in Canada, Brazil, and Chile. Back in September, Freeman Gold issued the company more than 4 million common shares for a back in right of its Lemhi Project. This is a common occurrence, and one that boosts collaboration in the mining industry.
On June 29th, Yamana Gold provided notice of second-quarter results, and a notice relating to updates on Phase 2 expansion at its Jacobina mine. It also will provide updates on the construction of the Odyssey Project and Wasamac Project after market close on July 29th, 2021. Announcements like these are important for investors as they allow insight into what the company is doing right now. AUY stock moved up 3% on July 5th, which is quite substantial, and could be a reflection of overall bullish sentiment in the mining industry right now. Considering this, will AUY stock be on your watchlist?B2Gold Corp. (NYSE: BTG)
B2Gold Corp. is a gold mining stock that operates numerous mines in Mali, the Philippines, and Namibia. It also produces various precious metals, while albeit, gold is its primary resource. Some of its mines include the Fekola mine, Masbate mine, and Otjikoto mines. B2Gold also has an 81% interest in the Kiaka Project in Burkina Faso.
B2Gold began its arbitration against Mali over a mining permit on June 24th. This is the latest update that has come from B2Gold Corp. In June the company also released its annual responsible mining report. The CEO and President Clive Johnson said that “for B2Gold and the world, 2020 was an unprecedented year. The outbreak of the COVID-19 pandemic has altered the way we all live and work, and I could not be more proud of the way that our teams across the globe were able to meet and exceed all expectations and deliver another successful year.”
Despite some less than stellar momentum in the past year, the mining industry has picked back up in bullish interest. This company’s share prices will often move with the price of gold itself due to its pure-play nature. So as gold has had a rather stagnant year in the market so far, BTG stock has not had the best performance. But, with fears of inflation abound, many could turn to gold as a safeguard investment in the future. Whether this makes BTG worth adding to your watchlist is up to you.Marin Software Inc. (NASDAQ: MRIN)
Marin Software Inc. is a tech penny stock that is trending in the market right now. The company focuses on providing enterprise marketing software to advertisers and agencies. Its MarinOne product is a search, social, and e-commerce advertising platform.
Additionally, Marin Search is another product it offers, that allows agencies and advertisers to manage advertising campaigns. It also has Marin Social for advertisers to manage Facebook, Instagram, and Twitter ads. On June 23rd, Marin announced that it now supports Instacart ads on its cross-channel ad platform MarinOne.
“Customer habits shifted during the pandemic and online grocery delivery was a big beneficiary. As the leading online grocery platform in North America, Instacart is a must-have part of digital marketing strategies. We are delighted to give advertisers on Instacart the power of MarinOne to maximize return on their investment.”The CEO and Chairman of MRIN, Chris Lien
On the day of that announcement, MRIN was a penny stock at $1.67 per share on average. In the weeks following this announcement, MRIN stock has skyrocketed past penny stock status. Now on July 2nd, MRIN stock closed at $20.29 per share. The company’s volume is also much higher than its average. With all of this in mind, will MRIN stock make it onto your watchlist right now?Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock we have mentioned frequently on this site before. This is a company that processes and sells agricultural products. It offers shiitake and Mu Er mushrooms, as well as other edible fungi products. These include bamboo fungi, Coprinus comatus, and much more. Its Farmmi Jicai online store sells edible fungi products under the Forasen and Farmmi Liangpin brands.
The company has been receiving a lot of product orders recently, adding to the overall positivity surrounding FAMI stock right now. One of these took place on June 25th when Farmmi received an export order for dried black fungus from a long-term customer. These mushrooms are used in traditional Chinese medicine and have been for centuries, to help prevent heart disease among other benefits.
The company’s CEO Yefang Zhang said, “Our level of customer engagements continues to expand as we add further value with our leading packaging and logistics to ensure product quality, flavor, and minimize costly waste.” With this recent advancement in mind and FAMI stock increasing in the market, is it worth keeping an eye on?Harmony Gold Mining Company Ltd. (NYSE: HMY)
Harmony Gold Mining Company Ltd. is a mining stock that explores, extracts, and processes a variety of precious metals. Harmony’s main focus is on gold, however, it also mines silver, copper, and uranium. Additionally, it is actively exploring new deposits in South Africa and Papua New Guinea. The company has had some interesting performance in 2021 so far, and a lot of this can be attributed to the momentum associated with the metals it mines.
Harmony Gold Mining Company Limited has not released any company-specific news recently. This company’s stock price as mentioned previously tends to move with the price of gold. On July 5th, HMY stock increased by 1.58% in the market.
The company has experienced a fair share of ups and downs in the last year and a half. And as stated earlier, many investors are looking for mining stocks as a way to hedge bets against long-term economic inflation. For this reason, HMY stock could be worth keeping an eye on.3 More Penny Stocks to Watch
- Unity Biotechnology Inc. (NASDAQ: UBX)
- BSQUARE Corp. (NASDAQ: BSQR)
- Exela Technologies Inc. (NASDAQ: XELA)
As we move further into July, investors continue to search for the best penny stocks to buy. And while this may seem like a difficult task, there are plenty of resources out there to make it simpler.
Considering that there is so much going on in the world that is affecting penny stocks right now, momentum remains very high. Knowing how to take advantage of this, however, is the key to making a profit with penny stocks. With all of this in mind, which penny stocks are you watching right now?