Hot Penny Stocks to Buy Under $4? Check These 3 Out For Your Watchlist

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Jul 16, 2021 (Penny Stocks via COMTEX) — 3 Hot Penny Stocks to Watch Under $4 Right Now

If you’re looking for penny stocks to buy under $4, there are plenty of options to choose from. And, in July 2021, there is also a great deal of potential for both penny stocks as a whole, and blue chips.

While in the past few months, trading has been mostly sideways, many investors are hoping for a large economic rebound in the near future. If you’ve been trading penny stocks or any stocks for the matter over the last year and a half, you likely know that the pandemic is the largest impacting factor on the market. And, this sentiment holds true to this day. But, if you know how to trade penny stocks, then this can be used as an advantage.

Additionally, we have to consider the short and long term potential of inflation in the U.S. This is the result of billions in stimulus being given out and a great deal of money being printed in the past year or so. As a result of this, inflation is at some of the highest levels it has seen since 2008 or so.

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While neither the pandemic nor inflation should scare you out of investing, they should help to show what could impact your portfolio in both the short and long term. And, they are also the cause for many price fluctuations we see daily. So, with all of this in mind, let’s take a look at three hot penny stocks under $4 for your watchlist right now.

3 Hot Penny Stocks to Watch Under $4

  1. Staffing 360 Solutions Inc. (NASDAQ: STAF)
  2. Transocean Ltd. (NYSE: RIG)
  3. Farmmi Inc. (NASDAQ: FAMI)

Staffing 360 Solutions Inc. (NASDAQ: STAF)

Staffing 360 Solutions Inc. is a penny stock that offers a large range of staffing services. The U.S. and U.K.-based Company consists of temporary contractors and works to recruit permanent employees as well. The company’s staffing services serve the financial, accounting, engineering, administration, and many other sectors.

During the pandemic and now as the pandemic lessens in severity, the need for solutions like those that STAF offers is in high demand. With more people looking for jobs than in many years prior, it’s clear that Staffing 360 could have a large opportunity in the coming months.

On June 30th, Staffing 360 Solutions announced a reverse stock split in order to keep its NASDAQ listing. This reverse stock split took place on the same day of the announcement. At the time of the split, every 6 shares of the company was converted into one. This event caused STAF stock to skyrocket, but it quickly corrected a few days later.

With all of this in mind, will STAF make your list of penny stocks to watch this week?

Transocean Ltd. (NYSE: RIG)

Transocean Ltd. is an oil and gas penny stock that provides offshore contract drilling services. Its drilling rigs and other equipment are rented out via contract to those operating offshore drilling operations. The company also offers work crews to drill oil and gas wells.

Currently, Transocean owns or has ownership in 37 mobile offshore drilling units. The companies that use Transocean’s services are primarily government-owned oil companies, independent companies, and other various types of fossil-fuel based corporations. As the pandemic comes to an end, many believe that the energy industry could begin to bounce back. This is where the potential for RIG stock could be.

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Recently, Transocean unveiled its plans to raise as much as $400 million through a large share sale. This is due to rising oil prices, and the fact that RIG has become a “meme stock”. Meme stocks are companies that increase in value due to large conversations surrounding a business on social media. This has sent RIG stock up drastically since the year began. And, as a result, Transocean is working to take advantage of this through the aforementioned share sale.

The company also recently secured drilling rig contracts worth $116 million for two of its semisubmersibles. At the start of 2021, RIG stock was at $2.32 per share on average. Now on July 15th, shares of RIG sit at $3.72 per share on average. Considering the above information, is RIG a contender for your penny stock watchlist?

Farmmi Inc. (NASDAQ: FAMI)

Farmmi Inc. is a penny stock that processes and sells agricultural products globally. It’s worth noting that it is also a company that we have discussed frequently in the past few months. The company offers edible fungi products such as bamboo fungi, shiitake, grifola frondosa, and more. Its Farmmi Jicai online store sells similar products under the Forasen and Farmmi Liangpin brands. Farmmi’s products are mainly purchased by restaurants, stores, and distributors.

On June 25th, Farmmi received a new product export order from Vancouver. This export order was given to Farmmi’s subsidiary Zhejiang Forest Food Co. Ltd. The Vancouver deal is for Farmmi’s dried black fungus. The CEO Yefang Zhang said, “Our level of customer engagements continues to expand as we add further value with our leading packaging and logistics to ensure product quality, flavor, and minimize costly waste.”

This adds to the list of product orders the company has received in the last few months. On July 15th, FAMI stock shot up by around 5.6% in the market. Noting this info, will you add FAMI stock to your watchlist?

Which Penny Stocks Are on Your Buy List?

Finding the best penny stocks to buy is all about understanding how the market moves. With so much momentum in the stock market right now, there are plenty of penny stocks to buy. However, not all have value, and not all will have value in the long term.

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So, with every penny stock on your list, it is extremely important to do the research and understand exactly what you’re getting into. This is the best way to both secure your investment and be confident that a trade could be a win. Considering all of this, which penny stocks are on your buy list?

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