Hot Penny Stocks To Buy Next Week? 3 Tech Stocks For Your Watch List

by | Apr 17, 2021 | Outside Takes, Penny Stocks, Tech Stocks

Penny Stocks Jumping After Cryptocurrency Boom In Dogecoin & Bitcoin

Penny stocks are trending hot right now as high-risk trading trends emerged in the stock market this week. The big story on Friday was all about cryptocurrency, cryptocurrency stocks, and Dogecoin. The meme-based crypto surged in early trading on April 16th. Speculation has fueled the cryptocurrency marketplace as everyone from Redditors to TikTokers touted the potential of the Shiba Inu-theme token.

Dogecoin price has jumped from under a penny to nearly 50 cents this year. Similar to penny stocks, volatility has played a massive role. Shortly after reaching those near-50 cent highs, the Dogecoin price dropped. Since cryptocurrencies trade 24/7, the price of Doge on Saturday was back down under $0.30 per coin.

What do cryptocurrency and penny stocks have to do with one another? Risk, speculation, and volatility are factors playing a leading role for both asset classes. Does this mean one is better than the other? No, and they can coexist in the trading ecosystem just fine. One of the bigger differences is where to look for catalysts.

Penny stocks have underlying companies that also offer up fundamental as well as technical triggers. Things like earnings updates, phase trial data, conferences, new product launches, and the like are things outside of typical market technicals adding fuel to the fire.

Penny Stocks To Buy [or avoid] Next Week

Much to the benefit of certain industries, the breakout in cryptocurrencies this week has placed a bright light on a few different market areas. Tech and financials were in focus last week. Based on Friday’s action, that could be the case next week if crypto remains a speculative catalyst over the weekend. In that case, there are a few names that could be favored on watch lists. The biggest question for you to answer is will they be the best penny stocks to buy next week?

  1. Greenpro Capital Corp. (NASDAQ: GRNQ)
  2. Liquid Media Group Ltd. (NASDAQ: YVR)
  3. Hudson Capital Inc. (NASDAQ: HUSN)

Penny Stocks To Buy [or avoid] #1: Greenpro Capital Corp. (NASDAQ: GRNQ)

Billed as a “business incubator,” Greenpro has a diverse portfolio of businesses centered around financial technology or “fintech.” The company focuses on extracting value from emerging businesses and, in many cases, helping in going public. One of the things that have traders looking at GRNQ stock right now is its exposure to cryptocurrencies. Specifically, its CryptoSX is a licensed crypto exchange for Securitized Token Offerings or “STOs.”

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In addition to STOs, the exchange also focuses on fine art. As we all know too well, NFTs have become a big “thing” in the stock market today. If you’re one of the few that haven’t heard of NFTs, let me break down the basics. NFTs or “non-fungible tokens” are digital “things.” An NFT can be a digital work of art, a video clip, a gif, a tweet, or even a digital trading card. An elementary example is to think of it as a 1 of 1 digital item. Once it is created, it gets uploaded to an NFT marketplace. Its unique identity and ownership are then verified on a proof-of-work blockchain.

Considering the company’s relationship to both NFTs and cryptocurrency, you can start to connect the dots on what may be driving momentum in the stock recently. Though GRNQ shares have pulled back over the last few days, the penny stock is still trading over 10% higher than it began in 2021.

cryptocurrency penny stocks to buy Greenpro Capital Corp. GRNQ stock chart

2. Liquid Media Group Ltd. (NASDAQ: YVR)

Another one of the NFT penny stocks we’ve discussed in the past is Liquid Media Group. Since these tokenized assets are being folded into the digital currency ecosystem, related stocks are some of the most volatile to watch. Shares of YVR stock are included in this mix. The source of NFT speculation arose when Liquid inked a deal with Atari (OTC: PONGF).

The distribution agreement with Atari was for Liquid’s SlipStream video-on-demand distribution platform to be available for download on Atari’s VCS™ PC/console hybrid. This was seemingly unrelated to anything NFT-focused. But since Atari had already been exploring NFTs for video game-related offerings, a tie-in was made, and YVR became one of the NFT penny stocks to watch in 2021.

Fast-forward a few more weeks, and Liquid Media has officially gotten into the digital asset game. Last month, the company announced partnership talks with CurrencyWorks to launch a multi-token intellectual property platform. This “Liquid Media Token Platform” is planning to support film, entertainment, and gaming industry professional in creating and monetizing content.

We’ve seen similar speculative hype result in actual, confirmed business expansion into NFTs from companies like Hall Of Fame Resort & Entertainment (NASDAQ: HOFV). This year, traders circulated speculative ideas that HOFV could get involved since it has assets that could be potentially monetized. Shortly after, Hall Of Fame signed an NFT deal and became one of the hottest names on the list of penny stocks to buy at the time. Shares have since dropped hard from their late March high.

cryptocurrency penny stocks to buy Liquid Media Group Ltd. YVR stock chart

3. Hudson Capital Inc. (NASDAQ: HUSN)

While GRNQ and YVR were directly tied to digital assets and cryptocurrency, Hudson is a bit different. It doesn’t have a hot NFT angle, nor does it provide anything related to Dogecoin. But recent merger progress could have it involved in the Internet of Things in a big way. Late last year, the finance company entered into a merger deal with FreightHub Inc. (Fr8Hub). This would see the two companies combine with Fr8Hub becoming a wholly-owned subsidiary of Hudson.

Fr8Hub specializes in logistics but in a very tech-heavy way. The company offers a North American transportation logistics platform company focused on United States-Mexico cross-border shipping. Fr8Hub provides a digital freight marketplace, which brokers and provides transportation management systems focused on truckload freight. Its cloud-based digital freight marketplace matches cross-border shippers throughout Mexico and the domestic U.S. (to and from border cities) with available carriers and drivers for their loads.

Cloud technology, IoT, AI, and AR have all become hot topics among investors. Emphasizing the potential of this pending merger, this month, Hudson announced that FreightHub reported preliminary Q1 revenue of $4.8M. This was a year-over-year increase of 216% and a quarterly record for the company.

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“We have started 2021 off strong, with enhancements to our technology platform and increased sales force driving the record sales for 1Q21 and the launch of our Fr8Hub University,” FreightHub CEO Javier Selgas commented. Furthermore, with digital technology as a backbone to the Fr8Hub platform, the HUSN stock price saw a strong spark at the end of the week last week. This was a warm welcome after months of trending lower. It will be interesting to see if that momentum carries over into next week.

cryptocurrency penny stocks to buy Hudson Capital Inc. HUSN stock chart

The post Hot Penny Stocks To Buy Next Week? 3 Tech Stocks For Your Watch List appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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