4 Penny Stocks to Watch With June on the Horizon
As we fast approach June, penny stocks are in highly volatile territory. This makes sense given the confusing and complicated times that we are living in. But, with so many penny stocks to watch right now, how can investors pick the best ones to buy?
Well, the first step is identifying what type of investor you are. Are you looking for a list of penny stocks to buy in the short term? Or, are you more of a long-term trader? The two categories alone are enough to dwindle the list down to a few hundred penny stocks as opposed to the thousands that exist.
Right now, we also have to consider aspects such as the effect of Reddit penny stocks and social media in general on the market. While this wasn’t an issue even a year ago, now, investors are getting together on these sites and investing in companies in a big way.
So, because there are so many aspects to consider, it can be confusing for some. But, if you have a trading education and a dedication to finding as much information as you can about a given company, buying and selling penny stocks in 2021 can be easy.
So, considering all of this, June is only a few weeks away. And with that comes the opportunity to make a new watchlist. Because of this, let’s take a look at four penny stocks to watch with June on the horizon.
4 Penny Stocks For Your June Watchlist
- Phunware Inc. (NASDAQ: PHUN)
- Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX)
- IZEA Worldwide (NASDAQ: IZEA)
- Sesen Bio Inc. (NASDAQ: SESN)
Phunware Inc. (NASDAQ: PHUN)
Phunware is a company operating an integrated software platform that gives companies the tools to manage mobile application portfolios. It offers products, solutions, and services to these businesses. Included is its cloud-based mobile software that offers software development kits for mobile applications. Tech penny stocks have been very popular in 2021, and PHUN is among them.
Phunware has also been involved with blockchain technology. It plans to implement this technology into a range of its services. The company recently commenced the full rollout of its blockchain-enabled Mobile Loyalty Ecosystem.
This includes PhunToken, PhunCoin, and PhunWallet. It also has a global distribution agreement to expand its reach with this technology.The company recently reported its first-quarter financial results for 2021 on May 13th.
“The completion of Q1 constitutes a positive operational inflection point for our business as we have quickly made our Multiscreen-as-a-Service (MaaS) platform vision become reality across a number of key fronts.”
President, CEO, and Co-Founder Alan S. Knitowski
Ending the quarter with $23.5 million in cash, Phunware performed well during this period. Many companies that are getting involved with blockchain technology are seeing higher performance in the market. This is a large contributor to Phunware’s success.
With cryptos like Bitcoin and DogeCoin often going up in value tremendously, it shows the power that blockchain has in the market. This leads to many blockchain penny stocks emerging as companies begin to implement the technology. With this in mind, will you add PHUN stock to your watchlist?
Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX)
As mentioned before, tech penny stocks have been high performing this year, and Foresight Autonomous Holdings Ltd. is another one to watch. This is a tech penny stock that designs, develops, and commercializes sensor systems in the automotive industry. Its in-line-of-sight and beyond-line-of-site cellular applications are used in electric and autonomous vehicles.
Its product QuadSight is a multi-spectral vision system for these vehicles. It also has V2X, an accident prevention solution among many other products. One of Foresight’s affiliates is Rail Vision Ltd. Foresight owns 19.36% of Rail Vision’s outstanding share capital. Rail Vision recently signed an agreement with Hitachi Rail STS Australia Pty Ltd. to give equipment, services, and personnel to Rio Tinto Railway Network. The revenue is expected to total $265,000 for this deal.
Since the company owns a large portion of Rail Vision, its advancements often affect FRSX stock. Currently, Rail Vision is filing for a nonpublic draft prospectus for an IPO and registration for trade on the Tel Aviv Stock Exchange Ltd. In the last 5 days, FRSX stock price has gone up more than 30%. Its volume is also much higher than its average.
FRSX stock will often perform well when the rest of the EV market is. As other players like Tesla go up in value, smaller electric vehicle stocks tend to as well. Since Foresight’s technology is used in electric vehicles, it is very essential to the EV industry.
The market for these automobiles is not slowing down, as production and sales increase every single year. This is the largest growing automotive trend at the moment. Noting all of this, will FRSX make your list of penny stocks to watch?
IZEA Worldwide (NASDAQ: IZEA)
IZEA Worldwide is a tech penny stock we have discussed frequently on pennystocks.com. But what does IZEA do for those unfamiliar? IZEA Worldwide is a company that creates and operates online marketplaces to connect marketers and content creators. It allows for content management, creator searching and targeting, bidding, analytics, and payments. One of its main selling points is influencer marketing and content campaigns.
On May 13th, IZEA released its first-quarter financial results. Its total revenue increased by 13% from $4.8 million to $5.4 million. Additionally, managed services revenue grew 18% year over year with its net loss significantly decreasing as well. IZEA’s adjusted EBITDA did decrease, and so did its total costs and expenses.
“As we look to Q2, we are off to a phenomenal start. Managed Services bookings have topped $7M for the quarter, already making Q2 the best quarter we have ever had – and we have half the quarter remaining. SaaS customer counts hit another record in April, and we are on the cusp of releasing meaningful improvements to our software platforms this quarter which should positively impact the acquisition of additional customers moving forward.”
Chairman and CEO of IZEA Worldwide, Ted Murphy
Some investors expected these results to be better, so IZEA stock fell as a result. Quickly though, IZEA was able to make a recovery in the market. On May 17th, bullish sentiment for this penny stock picked up as it went up by 25% and saw nearly double its regular trading volume. With all of this in mind, will IZEA make it onto your list of penny stocks to watch?
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock focused on creating targeted fusion protein therapeutics for cancer patients. It takes care of every step of this process by designing, engineering, developing, and commercializing. Its lead product is Vicinium, which is a targeted fusion protein in Phase III clinical trials for the treatment of non-muscle-invasive bladder cancer.
Another one of its products is VB6-845d is in use for the treatment of tumors. After the company’s first-quarter results were released on May 10th, it experienced positive momentum in the market. Sesen strengthened its balance sheet with $110 million in cash and cash equivalents. The company is on track to get potential U.S. approval of Vicineum and Europe in early 2022.
Dr. Thomas Cannell, President, and CEO said, “In the US, we continue to work with the FDA as we approach our target PDUFA date, and we are making substantial progress toward launch readiness. We are laser-focused on bringing a product to market that we believe will improve patient outcomes while reducing overall healthcare costs to patients globally, and we expect to continue to make progress around the world in the coming months.”
In February the company received notice from the FDA that the BLA for Vicineum was accepted for filing. As you may know, if you follow biotech penny stocks, updates like this can drive share prices up significantly. Sesen Bio shares are up 8% on May 17th, and more than 11% in the last week.
Keep in mind the company did report a net loss of $55.5 million compared to a net income of $41.6 million last year. With all of these financials and recent updates, will SESN stock be on your watchlist this month?
Which Penny Stocks Will You Watch in June?
While these are only a few options for penny stocks to watch, they do present a broad range of potential watchlist companies. In May, there are plenty of trends to keep investors busy, but we are grappling with some less than stellar trading days right now.
So while the bear market we’re witnessing may not turn around immediately, a new month is always a clean slate for investors and the market as a whole. Considering this, which penny stocks will you watch in June?