Are These 3 Penny Stocks on Your November Watchlist?
If you’re making a penny stocks watchlist for November, there are a few things to keep in mind. Right now, there is a sizable amount of bullish momentum with both penny stocks and blue chips. This is the result of Covid cases slowing down, meme stock mania, and the sheer number of factors that are positively impacting the stock market right now.
As a result, there are plenty of opportunities to make money with penny stocks in 2021. To do so, investors need to take a few steps. The first step is identifying what type of trader you are. This is usually broken down into those that trade either in the short or long-term time frames. Understanding which you are will help to guide your watchlist in the right direction.
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The next step to take is to compile all the stocks you’re interested in and learn as much as you can about them. This is a step that many investors forget to take, and it can mean the difference between profits and losses.
While most stocks and penny stocks, in particular, trade more off of speculation than fundamentals, the two can work hand in hand. And because of this, it’s important to consider the speculative factors that are impacting a company alongside its fundamentals. All of this information is widely available online, and as a result, there’s no reason that investors should skip this step.
So, while this is not nearly a complete list of how to buy penny stocks, it should help to put you in the right direction. With that in mind, let’s take a look at three penny stocks to watch to start November strong.
3 Penny Stocks to Add to Your November Watchlist
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
- RISE Education Cayman Ltd. (NASDAQ: REDU)
- Exela Technologies Inc. (NASDAQ: XELA)
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Color Star Technology Co. Ltd. is a communications penny stock that we have discussed frequently in the past several months. If you’re unfamiliar, CSCW is a communications company that has climbed in the double-digit percentage points in just the last five days. Color Star offers music education services throughout the United States and China. The company’s Color World platform provides music, sports content, animation, film, and much more for children. It also offers celebrity lectures, concert videos, and artist interactive communication.
On October 12th, Color Star announced a collaborative event with musicians, music producers, and screenwriters to create a “virtual world” live musical. The theme of the musical led by Color Star is “Dream”. This event will bring in renowned artists to make a situational musical as a traditional theater-style performance. All of the background and fixed props were independently created in the form of non-fungible tokens (NFT). Because NFT’s are so popular right now, investors…