3 Penny Stocks to Watch As October Comes to An End
With October moving by just as fast as it came, investors continue to search for the best penny stocks to buy. While September was a less-than-stellar month for the stock market, October has brought the Dow Jones to all-time highs alongside Bitcoin doing the same.
So, there is a lot of bullish momentum in the stock market right now, but it all comes down to knowing how to take advantage of it. While there are a lot of factors to keep track of in the stock market right now, we can look at each one individually to see how we can benefit.
For example, with Covid, we’ve seen an emphasis on biotech stocks, reopening stocks, and more. This makes sense given the pandemic’s effect on these industries. But, it’s worth considering how they could continue to be affected in the near future.
Next, we have to look at inflation which is nearing high levels right now. This has caused investors to look at more stable stocks, such as those in the mining industry. At the end of the day, investing is all about thinking outside of the box and considering all factors at once. With that in mind, let’s take a look at three penny stocks to watch before next month.
3 Hot Penny Stocks to Watch Right Now
- Sesen Bio Inc. (NASDAQ: SESN)
- New Oriental Education & Technology Group Inc. (NYSE: EDU)
- Ambev S.A. (NYSE: ABEV)
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock that has climbed by over 55% in the past month, with 10% in gains occurring during pre-market today. This is a company that offers targeted fusion protein therapeutics to treat cancer patients. Sesen is involved in the design, engineering, development, and commercialization of these products. Its lead product is Vicinium which is in Phase 3 clinical trials for bladder cancer. It also develops this product in combination with Durvalumab which is in Phase 1 clinical trials for use in BCG-unresponsive NMIBC.
On October 20th, it was announced that the FDA has accepted Sesen’s request for a Type A meeting to discuss the chemistry, manufacturing, and controls issues raised in the complete response letter for Vicineum for BCG-unresponsive non-muscle invasive bladder cancer. This Type A meeting will take place on October 29th. The company is also preparing for another Type A meeting to discuss recommendations specific to additional data and analyses raised in the complete response letter.
It expects the Clinical Type A Meeting to take place in the fourth quarter of 2021. On October 20th, SESN stock’s volume was around 207 million compared to an average of about 21 million. On the same day, SESN’s stock price increased substantially. The high volume is a clear indicator of the popularity of SESN stock right now. With this in mind, will SESN be on your list of penny stocks to watch in October?