Are These Tech Penny Stocks Worth Buying Right Now?
Tech penny stocks have remained some of the most popular penny stocks for investors to watch over the past year and a half. And, there are a few reasons for that. To understand why, we have to first consider that the tech industry is constantly changing.
As a result of the high speculation that penny stocks tend to see, this means that tech stocks can shift rapidly in price in any given trading day. While some investors like to hold penny stocks in the long term, most tend to swing trade or short-term trade them. This means that large price movements are not only good but highly desirable.
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When it comes to tech, we can separate companies into three categories. First, we have companies that produce physical tech hardware. Second, we have companies that produce software. And lastly, we have those that work in both sectors.
While one is not more valuable than another, they can have differing levels of volatility. This means that investors should thoroughly understand their own investing style and find the penny stocks that fit best. Considering all of this, let’s take a look at three tech penny stocks to watch at the end of November 2021.
3 Tech Penny Stocks to Add to Your Watchlist in November
- Phunware Inc. (NASDAQ: PHUN)
- Luokung Technology Corp. (NASDAQ: LKCO)
- Cloopen Group Holding Limited (NYSE: RAAS)
Phunware Inc. (NASDAQ: PHUN)
Phunware Inc. is a technology company that develops software to help businesses manage their mobile app libraries. Among its software and products are cloud-based mobile software for licensing as well as software development kits. These items are sold to healthcare, retail, real estate, education, and a variety of other businesses. Because of the broadness of the business, PHUN stock has been a popular choice among investors over the past year or so. And, in the past six months, shares of PHUN stock have shot up by over 165% which is no small feat.
In addition to the above offerings, Phunware works with the AWS Marketplace which is a digital catalog with thousands of software listings. This service makes it easy to find, test, buy, and deploy software that runs on Amazon Web Services Inc. AWS Marketplace makes allows for independent software vendors, such as Phunware, to offer products. On November 23rd, the company announced that its Multiscreen-as-a-Service (MaaS) platform is immediately available in the AWS Marketplace.
The COO of Phunware, Randall Crowder said, “We are thrilled to work with AWS and leverage over a decade of industry experience in order to help enterprises drive digital transformation in a mobile-first world. By adding our MaaS Platform to AWS Marketplace, customers around the world can more easily access mobile software that can tech-enable not only critical operations but also customer and workforce engagement.”