3 Penny Stocks That Are Trending in Late November 2021
Finding trending penny stocks can be a great way to get ahead and stay ahead in the stock market. To do so, investors need to first understand exactly what trends are at play with penny stocks, and how they could affect certain companies. This involves thinking outside of the box and staying up to date with all the latest news and events.
Right now, industries such as biotech, tech, esports, mining, and a few others are seeing more attention than usual. While no one can predict the future, for now, these industries continue to attract investors of all types. With that in mind, let’s take a look at three penny stocks that are trending right now.
3 Trending Penny Stocks to Watch Right Now
- Yatsen Holding Limited ( NYSE: YSG)
- TMC The Metals Company Inc. ( NASDAQ: TMC)
- Enthusiast Gaming Holdings Inc. ( NASDAQ: EGLX)
Yatsen Holding Limited (NYSE: YSG)
Yatsen Holding Limited is a company that offers a variety of beauty products. The company’s products are sold under the Little Ondine, Abby’s Choice, and Perfect Diary brands. Yatsen is involved in both the development and sale of these products. Primarily, Yatsen’s products are sold in China, which offers a major market for the company. Among its product lineups are brush sets, mirrors, makeup sponges, perfumes, and more. These products are sold via e-commerce and physical stores. Having both of these sales channels has helped to greatly increase YSG’s reach.
On November 18th, the company released its third-quarter financial results for 2021. The company’s total net revenues during this period went up 6% year over year. In addition to this positive news, its gross margin went up to 67.9% compared to 65.7% last year in the same period. Yatsen’s gross sales for the third quarter went up 8.3% in this period as well. These numbers are highly encouraging for investors and the company alike. They signal solid growth which has occurred despite the pandemic.
“Looking ahead, as we embark upon the next phase of our development, we expect to continue shifting our revenue mix towards higher-quality and more profitable growth, underpinned by sustained investments in our brand’s brand equities and R&D. We are confident that despite some short-term pain, our strategic initiatives will allow us to emerge stronger with a clear path to long-term sustainable growth.”The Chairman and CEO of Yatsen, Mr. Jinfeng Huang
Although shares of YSG stock are down by more than 80% YTD, it looks like it is witnessing a slight bullish turnaround right now. With this in mind, will YSG be on your list of penny stocks to watch?
TMC The Metals Company Inc. (NASDAQ: TMC)
TMC The Metals Company is a penny stock that has climbed by a very respectable 17% in the past five days. If you’re not familiar, TMC is a company that explores for battery-grade metals in Canada. These battery-grade metals include copper, nickel sulfate, cobalt sulfate, and manganese products. The Metals Company has various subsidiaries that hold the exploration rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone in the Pacific Ocean.
On November 16th, the company entered an agreement with Kongsberg Digital to develop a digital twin of its deep-sea operating environment. This news comes before a polymetallic nodule collection system test is due to take place. The companies plan to create the world’s first digital twin for the subsea nodule collection. This is a core component of a larger Adaptive Management System for enabling sub-sea operations in targeted environmental impact thresholds.
“Polymetallic nodules sit on the seafloor in complete darkness at 4-km depths but we plan to collect them in clear sight and in a manner that is accessible and accountable to the regulator and stakeholders from anywhere in the world.
The Digital Twin will give us visibility — that’s the first critical step. From there, we will keep gathering data, learning, predicting, and adapting our operations with environmental protection and operational efficiency in mind.”Chairman and CEO of The Metals Company, Gerard Barron
Right now, anything relating to electric vehicles is seeing increased attention. And while TMC’s role in this is removed slightly, it is still highly correlated to the EV industry. With solid gains in the past week, does TMC deserve a spot on your penny stocks watchlist moving forward?
Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX)
Enthusiast Gaming Holdings Inc. is an entertainment and gaming penny stock that has pushed up by a sizable 22% in the past five days. This company’s business expands across entertainment, media, esports, content, and more.
Currently, Enthusiast has about 100 gaming-related websites under its belt. It also operates the Enthusiast Gaming Live Expo which is a video-game-related expo. Enthusiast owns and manages esports teams in Call of Duty, Valorant, Overwatch, and more. If you’re not familiar, the Esports industry has taken off in the past few years. With several major players seeing heightened attention, EGLX is attracting more volume than its average.
On November 18th, the company announced that it has achieved record unique visitor traffic in the United States. In October 2021, its U.S. unique visitors grew to 47.8 million. Between Twitch and Roblox, Enthusiast was ranked second in overall Games. Since July, the company has gone up 5 spots on Comscore’s Top 100 Properties ranking the largest internet properties in the U.S. across all categories.
“This Comscore data shows the continued growth and attractiveness of our platforms to the coveted U.S. Gen Z and Millennial audience. Gaming continues to take a greater share of overall Internet traffic, and we are proud to be next to companies like Twitch and Roblox in taking a greater share of overall gaming traffic.”The CEO of Enthusiast Gaming, Adrian Montgomery
As gaming continues to grow in the U.S. and around the world, will EGLX stock be on your watchlist in the future?
Can Penny Stocks Continue to be Profitable in 2021?
With only a month and a half left to go in 2021, investors continue to search for the best penny stocks to buy. Although it can be challenging given the sheer number of penny stocks out there, using a proper trading strategy combined with research can be a great way to start.
If we consider what’s going on in the world, making a list of penny stocks to buy can be much easier than previously imagined. With all of that in mind, do you think that penny stocks can continue to be profitable in 2021?