Best Penny Stocks reopening to watch as CA, NY lift restrictions
Today marks an exciting time for the reopening of penny stocks. This term refers to businesses that suffered during the pandemic due to quarantine regulations but are now benefiting from the economic reopening. These are businesses that depend on the incomes of in-person consumers such as food, retail and business or those that have seen their incomes increase directly as a result of the pandemic.
As of June 15, California and New York no longer require masks for people who have been vaccinated. This is a momentous opportunity, as many states generally consider California and New York to be two of the country’s largest economies. Additionally, these economies include industries such as technology, agriculture, finance, and more.
A reopening economy means a lot of things, but as investors it is an important time as there are now opportunities to seek potential future value. As more and more people are ready to come out without a mask, we were able to see the light at the end of the tunnel. There are a few things to keep in mind when it comes to invest in penny stocks for the reopening.
One of the most important aspects is that there is still a lot of unknowns about the future. While profit is possible with the reopening of penny stocks, it is impossible to predict how quickly and how far things will reopen. High volatility, along with high volumes, can cause stock prices to fluctuate during any given trading day. And although this is common with penny stocks, adding the reopening layer makes the volatility even higher. However, large swings are one of the main reasons investors tend to like stocks under $ 5.
The next aspect to consider when negotiating reopening of penny stocks is speculation. It is well known that the stock market fluctuates due to events, economic movements, global and industry specific news, etc. If investors think a penny stock will do well over the next year or so, sentiment can change very quickly.
If there isn’t much hope of future profitability, a business may see the opposite happen. While it shouldn’t scare you into investing in penny stocks, it should help show what you might get yourself into. With all of that in mind, here are four reopening penny stocks for your June 2021 watchlist.
4 reopening of Penny Stocks to watch out for right now
- Digital Brand Group Inc (NASDAQ: DBGI)
- Toughbuilt Industries Inc (NASDAQ: TBLT)
- Uranium Energy Corp. (NYSE: UEC)
- Dogness Corp (NASDAQ: DOGZ)
Digital Brands Group Inc (NASDAQ: DBGI)
Digital Brands Group is an apparel company that offers a wide variety of brands through direct-to-consumer and wholesale strategies. Its business model comes from its first digitally native vertical brand that is focused on e-commerce. E-commerce has occupied much of the past year as consumers have turned to the internet to purchase goods. With businesses closed to in-person purchases, many have had to rely on online sales. While this is still an important source of income, a large number of businesses still depend on in-person sales.
As a vertically integrated brand, it not only controls the distribution and sourcing of products from third party manufacturers, but it also sells directly to the end consumer. This is done by leveraging the data that DBGI owns and uses to target specific audiences. By becoming an omnichannel brand, DBGI can now offer its styles offline as well as in select retail stores and wholesalers. This gives it the widest range of options for its market.
Recently, Digital Brands announced its intention to acquire the Elevated Basics brand in the United States. This could help DBGI continue to grow in the online and offline markets. And it’s coming at the perfect time with a reopening of the economy on the horizon.
Hil Davis, CEO of DBGI, commented: “The acquisition of Stateside is a validation of our recent IPO and our vision and strategy to grow our brand portfolio, revenues and cash flow through acquisitions. . We believe the brand in the US will increase DBG’s revenue in 2021 while creating shareholder value in the short and long term. »Taking all this into account, will DBGI be on your penny stocks watch list?
Toughbuilt Industries Inc (NASDAQ: TBLT)
ToughBuilt Industries is a company that sells innovative products designed to help people “build faster, build harder, and work smarter”. Up more than 20% over the past month, TBLT stock shows strong bullish investor sentiment. Many investors are excited about this growth, as TBLT has outperformed some competitors this year.
And, this growth also reflects the hype around Toughbuilt Industries as a reopening penny stock. As of May 20, revenue was up 44% from analyst model forecast, reaching $ 12 million. This is important because many retailers have seen their revenues decline over the past year.
As a company, TBLT manufactures advanced construction related products with original designs and high quality workmanship. It operates in the field of hardware products, with a focus on new and improved tools. Precisely, TBLT specializes in the manufacture of tools and other accessories for professionals as well as DIY customers. Since its inception in 2013, the company has grown considerably and advanced its very solid product line.
This includes three categories such as soft goods and knee pads, easels and work products. TBLT is focused on its mission to provide top quality, state-of-the-art products. This makes the company innovative and competitive, building customer loyalty to the brand while improving the well-being of end users.
As a tools company, TBLT thrives on in-person sales as well as face-to-face interactions with customers. With the economy allowing in-person businesses to pick up and home improvement at record levels, TBLT could continue to exceed expectations. With that in mind, is TBLT worth keeping an eye on the near future?
Uranium Energy Corp. (NYSE: UEC)
Another penny stock to watch is Uranium Energy Corp. This company is a United States-based uranium company that operates in the mining and exploration industry. It is located in South Texas and works alongside many others to fully transform its raw materials. UEC is managed by a large group of experienced professionals, all well known in the industry. When it comes to uranium exploration, development and mining, practical experience is a requirement.
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UEC is a leader in the uranium mining industry and controls the largest database for uranium exploration. This gives the company an edge when it comes to exploring properties in the Southwestern United States. In addition, its well-funded positions allow it to pursue key development projects with perseverance.
Much of UEC’s business in the United States is focused on the acquisition of properties. Its properties are located primarily in Texas, New Mexico, Colorado, Arizona and Wyoming. Over the past year or so, the global focus on clean energy has put a major exclamation mark on uranium. As a clean energy source with unlimited potential, uranium could be the way of the future.
Looking to the future, the UEC is in a favorable position to move forward. Indeed, the global demand for uranium is increasing considerably. Not only does uranium offer clean energy solutions, it also provides much cheaper energy and a more efficient method of producing energy. Given all of this, what do you think of this choice for your reopening penny stock watch list?
Dogness Corp (NASDAQ: DOGZ)
The last reopening penny stock on this list is Dogness Corp. Founded in 2003, DOGZ grew from humble beginnings, where to this day the core belief is that dogs and cats are considered family. This company specializes in products for dogs and cats, in particular wellness and leash products.
The goal of its products is to enhance the relationship between an animal and its owner by offering unique and quality items. During the pandemic, the rate of pet adoption has increased dramatically. People finally have time to care for and be home with a pet. For this reason, DOGZ stock has risen by over 26% in the past year alone.
In terms of operations, DOGZ is now an industry leader and operates through a vertical supply chain and world-class research and development. This hard work has led to over 200 patents and patents pending. Holding so many patents is an extremely impressive achievement, especially now, given the pandemic and its effects on businesses. DOGZ is now a global operation, supplying global chains, stores and distributors.
Today, DOGZ announced that it has officially delivered over 3000 of its programmable dog and cat feeders. He also estimates that 1,000 more units should be delivered in the next two weeks.
“Our team continues to do a great job navigating the tough global supply chain and logistics. We work closely with our customers and partners to ensure that we have the right inventory availability to meet demand over multiple quarters.
Being able to meet the needs of a large customer like Petco underscores our commitment and ability to fill large-scale orders on time. This reliability is essential as we continue to drive growth in the short and long term. ”
Silong Chen, CEO of Dogness
As a reopening penny stock, what do you think of DOGZ for your June and July watchlist?
Penny Stocks reopening could show forward momentum
As June passes, investors are looking for best penny stocks to watch. This is not an easy task, as finding the best penny stocks to buy can be difficult. However, with the right research in hand and a commitment to learning how to trade, it can be much easier than previously imagined.
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With 2021 more than halfway over, now is the time to find reopening penny stocks that could be winners in the longer term. With that in mind, which penny stocks are on your watch list right now?