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Best Penny Stocks to Buy Today? 3 For Your Watchlist Right Now

Which penny stocks are you watching right now?
The post Best Penny Stocks to Buy Today? 3 For Your Watchlist Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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3 Penny Stocks to Watch Right Now 

As another week of trading comes to an end, plenty of penny stocks are showing momentum. While some fear both penny stocks and blue chips to have a massive crash following the sizable bullish movement we’ve seen, others say that is unlikely. 

“Counter to the intuition of many investors, the stellar 26% YTD return is not a good reason in itself to expect a weak return in 2022.” 

David Kostin, the Chief U.S. Equities Strategist at Goldman Sachs

This is a positive sign and many investors hope that this growth can continue. The largest fear for those who trade penny stocks right now is inflation. With billions of dollars given out in economic stimulus and the new $1 trillion infrastructure bill being passed, some believe that inflation will only continue to rise.

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And yes, this fear is warranted, however, it doesn’t mean that there will be a crash with certainty. So, considering all of this, let’s take a look at three penny stocks to watch right now. 

3 Penny Stocks to Add to Your Watchlist in November 

  1. Digital Ally Inc. (NASDAQ: DGLY
  2. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP
  3. Precipio Inc. (NASDAQ: PRPO)

Digital Ally Inc. (NASDAQ: DGLY)

Digital Ally Inc. is a manufacturing and distribution company that specializes in digital video imaging, storage, disinfectants, and other safety items. In the United States, these items are employed in law enforcement, security, and commercial applications. One of its products is a police enforcement in-car digital video mirror system. And, its other products work similarly and are used for purposes relating to this.

On November 18th, the company announced its revenue guidance for the fourth quarter of 2021 and the fiscal year 2022. Digital Ally stated that it expects its fourth-quarter revenues for 2021 to be more than $9 million. Overall, the company’s 2021 fiscal year revenue expectation is at about $18 million. Now Digital Ally expects its 2022 fiscal year revenues to be about $50 million.

“We are pleased with our third-quarter financial results and more specifically our recently acquired operating companies. Both TicketSmarter and Digital Ally Healthcare are already impacting our financial metrics and we are confident that through organizational synergies and solid leadership vision, the best is yet to come.”

The CEO of Digital Ally, Stan Ross

In the past five days, shares of DGLY stock have shot up by around 14%, which is no small feat. Despite less than stellar performance in the first half of the year, it looks like DGLY stock is making a bullish comeback right now. Based on this new information, will DGLY be on your penny stock watchlist?

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)

Seanergy Maritime Holdings Corp. is a shipping and transport company that has pulled in more than 84% in gains in the past YTD period and over 110% in the past twelve months. Specifically, this company ships dry bulk goods around the world by sea. Seanergy’s vessels mostly deliver iron ore and coal, however, it ships a large range of other goods as well. Seanergy currently operates a fleet of 17 Capesize boats with an average cargo-carrying capacity of about 3,011,045 deadweight tons.

On November 2nd, the company reported its financial results for the third quarter and nine-month period ended September 30th, 2021. Let’s start by talking about Seanergy’s third quarter of 2021. During this period, its gross revenues grew 146% to a total of $50 million. Seanergy’s net income increased 459% year over year during this period as well.

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In the nine-month period, the company’s gross revenues and EBITDA went up 130% and 307% respectively. These numbers are very solid and show a sizable amount of growth for Seanergy. While this is a reflection of SHIP stock’s commitment to growing, it is also a sign that the shipping industry at large is performing above expectations.

“I am very excited to announce our financial results for the third quarter and nine-month period that ended on September 30, 2021, marking a record profit for Seanergy since we started acquiring our current fleet in 2015. The exceptional financial performance of our Company is attributed to the combination of the well-timed acquisitions that we executed in the past year, as well as the highest dry bulk market of the last decade.”

The Chairman and CEO of Seanergy, Stamatis Tsantanis

Using this new information as a resource, will SHIP stock make your watchlist in mid-November?

Penny_Stocks_to_Watch_Seanergy_Maritime_Holdings_Corp_SHIP_Stock

Precipio Inc. (NASDAQ: PRPO)

Precipio Inc. is a biotech penny stock that showed high volume on November 18th. This is a company that develops a large range of cancer diagnosis technologies. It offers oncology products such as clinical diagnostic services for blood-related cancers. Last year, the company began producing COVID-19 antibody tests, which drew a lot of additional interest from investors. Currently, it sells ICE-COLD-PCR tech kits for detecting abnormalities in blood samples to bio-pharma customers for clinical research and as COVID-19 antibody tests.

On November 18th, New York State’s Department of Health approved Precipio’s HemeScreen RUO assay for physician-owned laboratory use. New York State’s DOH is one of the stricter regulatory groups in the United States. This means that this was a positive piece of news for Precipio to deliver.

“The combination of the determination of a formidable practice such as NYC&B to onboard HemeScreen, and the receipt of approval from a regulatory body such as NY DOH, is yet another testament to both the clinical utility, and the business value proposition of the HemeScreen assay to the POL market”.

The CEO of Precipio, Ilan Danieli

Noting this new advancement and its role in diagnosing Covid, will PRPO be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Precipio_Inc

Are These Penny Stocks on Your Watchlist Right Now?

While 2021 has not been a banner year for stability amongst penny stocks, plenty of investors have made money trading small caps. And with only a few months left to go, there is a lot to look forward to.

[Read More] Do These Top Penny Stocks Have Upside Potential in November?

Considering that there is so much movement in the stock market, there are plenty of fluctuations for investors to take advantage of. With that in mind, which penny stocks are on your watchlist right now?

The post Best Penny Stocks to Buy Today? 3 For Your Watchlist Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Economics

FT-IGM US Macroeconomists Survey for December

The FT-IGM US Macroeconomists survey is out (it was conducted over the weekend). The results are summarized here, and an FT article here (gated). Here’s some of the results. For GDP, assuming Q4 is as predicted in the November Survey of Professional…

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The FT-IGM US Macroeconomists survey is out (it was conducted over the weekend). The results are summarized here, and an FT article here (gated). Here’s some of the results.

For GDP, assuming Q4 is as predicted in the November Survey of Professional Forecasters, we have the following picture.

Figure 1: GDP (black), potential GDP (gray), November Survey of Professional Forecasters (red), November SPF subtracting 1.5ppts in Q1, 05ppts in Q2 (blue), FT-IGM December survey (sky blue squares), all on log scale. FT-IGM GDP level assumes 2021Q4 growth rate equals SPF November forecast. NBER defined recession dates peak-to-trough shaded gray. Source: BEA 2021Q3 2nd release, Philadelphia Fed November SPF, FT-IGM December survey, and author’s calculations.

In the figure above, I’ve used the SPF forecast of 4.6% SAAR in 2021Q4; the Atlanta Fed’s nowcast as of yesterday (12/7) was 8.6% SAAR. A new nowcast comes out tomorrow.

Interestingly, q4/q4 median forecasted growth equals that implied by the Survey of Professional Forecasters November survey (which was taken nearly a month before news of the omicron variant came out).

The q4/q4 forecast distribution for 2022 is skewed, with the 90th percentile at 5% growth, the 10th percentile at 2.5%, and median at 3.5%. I show the corresponding implied levels of GDP (once again assuming 2021Q4 growth equals the SPF ).

Figure 2: GDP (black), November Survey of Professional Forecasters (red), FT-IGM December survey (sky blue squares), 90th percentile and 10th percentile implied levels (light blue +), my median forecast (green triangle), all on log scale. FT-IGM GDP level assumes 2021Q4 growth rate equals SPF November forecast. NBER defined recession dates peak-to-trough shaded gray. Source: BEA 2021Q3 2nd release, Philadelphia Fed November SPF, FT-IGM December survey, and author’s calculations.

On unemployment, the median forecast is for a deceleration in recovery,

Figure 3: Unemployment rate (black), November Survey of Professional Forecasters (red), FT-IGM December survey (sky blue square), 90th percentile and 10th percentile implied levels (light blue +), my median forecast (green triangle). NBER defined recession dates peak-to-trough shaded gray. Source: BEA 2021Q3 2nd release, Philadelphia Fed November SPF, FT-IGM December survey, and author’s calculations.

The survey respondents also think that the participation rate will take a long time to return to pre-pandemic levels.

Source: FT-IGM, December 2021 survey.

On inflation, the median is higher than the November SPF mean estimate for 2022 of 2.3% (and Goldman Sachs’ current estimate).

Source: FT-IGM, December 2021 survey.

The entire survey results are here.

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Government

Over 170 companies delisted from major U.S. stock exchanges in 12 months

  Over the years, United States-based exchanges have remained an attractive destination for most companies aiming to go public. With businesses jostling to join the trading platforms, the exchanges have also delisted a significant number of companies….

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Over the years, United States-based exchanges have remained an attractive destination for most companies aiming to go public. With businesses jostling to join the trading platforms, the exchanges have also delisted a significant number of companies.

According to data acquired by Finbold, a total of 179 companies have been delisted from the major United States exchanges between 2020 and 2021. In 2021, the number of companies on Nasdaq and the New York Stock Exchange (NYSE) stands at 6,000, dropping 2.89% from last year’s figure of 6,179. In 2019, the listed companies stood at 5,454.

NYSE recorded the highest delisting with companies on the platform, dropping 15.28% year-over-year from 2,873 to 2,434. Elsewhere, Nasdaq listed companies grew 7.86% from 3,306 to 3,566. Data on the number of listed companies on NASDAQ and NYSE is provided by The World Federation of Exchanges.

The delisting of the companies is potentially guided by basic factors such as violating listing regulations and failing to meet minimum financial standards like the inability to maintain a minimum share price, financial ratios, and sales levels. Additionally, some companies might opt for voluntary delisting motivated by the desire to trade on other exchanges.

Furthermore, the delisting on U.S. major exchanges might be due to the emergence of new alternative markets, especially in Asia. China and Hong Kong markets have become more appealing, with regulators making local listings more attractive. Over the years, exchanges in the region have strived to emerge as key players amid dominance by U.S. equity markets. As per a previous report, the U.S. controls 56% of the global stock market value.

A significant portion of the delisted companies also stems from the regulatory perspective pitting U.S. agencies and their Chinese counterparts. For instance, China Mobile Ltd, China Unicom, and China Telecom Corp announced their delisting from NYSE, citing investment restrictions dating from 2020.

Worth noting is that the delisting of firms was initiated due to strict measures put in place by the Trump administration. The current administration has left the regulations in place while proposing additional regulations. For instance, a recent regulation update by the Securities Exchange Commission requiring US-listed Chinese companies to disclose their ownership structure has led to the exit of cab-hailing company Didi from the NYSE.

Impact of pandemic on the listing of companies

The delisting also comes in the wake of the Covid-19 pandemic that resulted in economic turmoil. With the shutdown of the economy, most companies entered into bankruptcies as the stock market crashed to historical lows.

Lower stock prices translate to less wealth for businesses, pension funds, and individual investors, and listed companies could not get the much-needed funding for their normal operations.

At the same time, the focus on more companies going public over the last year can be highlighted by firms on the Nasdaq exchange. Worth noting is that in 2020, there was tremendous growth in special purpose acquisition companies (SPACs), mainly driven by the impact of the coronavirus pandemic. With the uncertainty of raising money through the traditional means, SPACs found a perfect role to inject more funds into capital-starving companies to go public.

From the data, foreign companies listing in the United States have grown steadily, with the business aiming to leverage the benefits of operating in the country. Notably, listing on U.S. exchanges guarantees companies liquidity and high potential to raise capital. Furthermore, listing on either NYSE or Nasdaq comes with the needed credibility to attract more investors. The companies are generally viewed as a home for established, respected, and successful global companies.

In general, over the past year, factors like the pandemic have altered the face of stock exchanges to some point threatening the continued dominance of major U.S. exchanges. Tensions between the US and China are contributing to the crisis which will eventually impact the number of listed companies.

 

Courtesy of Finbold.

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Economics

Stock futures open flat as Omicron concerns ease

Dow futures edged up 0.02%, while contracts on the Nasdaq Composite inched up 0.10%…
The post Stock futures open flat as Omicron concerns ease first appeared on Trading and Investment News.

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Dow futures edged up 0.02%, while contracts on the Nasdaq Composite inched up 0.10%

Stock futures opened relatively flat on Wednesday evening, though sustaining gains posted by a three-day recovery rally that was led by cooled investor concerns around the Omicron variant of the coronavirus.

Dow futures edged up 0.02%, while contracts on the tech-focused Nasdaq Composite inched up 0.10%. All major indexes closed up, with the S&P 500 adding 14.46 points to end the session at 4,701.21, just 0.5% short of the trading session on Nov. 24, a day before the latest COVID-19 variant was announced by the World Health Organization (WHO).

The moves were supported by eased virus fears after Pfizer Inc. and BioNTech reported that early lab studies show a third dose of their coronavirus vaccine mitigates the Omicron variant.

The vaccine makers had indicated the initial two doses may not be enough to protect against infection from Omicron. Shares of Pfizer (PFE) traded 0.62% lower on Wednesday, closing at $51.40.

With virus concerns diminishing, investors are pivoting their attention back to economic data, awaiting Consumer Price Index (CPI) figures on Friday to assess the extent inflationary pressures will persist.

If the Omicron variant was to lead to a resurgence in goods spending at the expense of services or to further complicate supply disruptions, there could be a clear inflationary impact, too, HSBC economist James Pomeroy wrote earlier this week in a research note to clients.

He stated: The inflation news in the past few weeks has been decidedly mixed — with upside surprises in both the U.S. and eurozone being offset by the possibility of some of the supply chain issues starting to alleviate, while energy prices have fallen sharply in recent days.

The post Stock futures open flat as Omicron concerns ease first appeared on Trading and Investment News.

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