3 Reopening Penny Stocks to Watch As Covid Cases Hit New Lows

(Penny Stocks via Comtex)

Reopening Penny Stocks to Watch in June 2021

Over the past year and a half, investors have bet on the future of reopening penny stocks. If you're unfamiliar with this term, it means any penny stock that is benefitting or could benefit from economic reopening. While this is a global phenomenon, we will mostly focus on how U.S. reopening could impact these penny stocks.

Right now, case numbers for Covid are hitting the lowest numbers in months. Combine that with many states loosening restrictions and we see that many reopening penny stocks are rebounding in a big way. Some examples of this include entertainment penny stocks, tech penny stocks, energy penny stocks, and more.

It's difficult to pin a concrete list of penny stocks that will benefit from this because each company tends to operate differently. For this reason, thinking outside the box will always be your best chance at staying ahead of the game. In the past few months, we've witnessed a rather slow trading period. This is marked by lower than average volume and stocks trading mostly sideways in that time.

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But, with the influence of Reddit and hundreds of thousands of investors on Robinhood, we could see momentum begin to pick back up soon. With that in mind, now may be the time to find the best reopening penny stocks to watch. All things considered, here are three to keep an eye on as Covid cases hit new lows.

3 Reopening Penny Stocks to Watch Right Now

  1. Torchlight Energy Resources Inc. (NASDAQ: TRCH)
  2. Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
  3. Senseonics Holdings Inc. (NYSE: SENS)

Torchlight Energy Resources Inc. (NASDAQ: TRCH)

Oil and gas penny stocks like Torchlight Energy Resources Inc. have been in focus recently. Torchlight is a company that acquires, explores, and develops oil and natural gas properties. All of Torchlight's assets are located in the United States in Texas and Oklahoma. These are incredibly oil-rich areas of the country and include the Permian Basin. The Permian Basin is one of the densest oil landmasses in the nation and is a very popular site for drilling and exploration.

Today, Torchlight announced results from its special meeting of stockholders which has been a long-awaited event for investors. The virtual meeting was held in connection with its previously announced business combination transaction with Metamaterial Inc. Stockholders approval was required for the business combination transaction, and it was successful.

In the past few months, investors have waited on more information from this business combination. While TRCH has a lot to offer on its own, the combination with Metamaterial could add a new layer to its business. Considering that the meeting was successful, we could continue to see momentum with TRCH stock.

On the day of this news being released, TRCH stock has gone up by more than 3% in the market. Its trading volume is also very close to its average, but slightly lower. One month ago TRCH stock was under $2 per share. Now in June 2021, TRCH stock has reached above $3.10 per share on average. With this in mind, is TRCH on your penny stock watchlist this week?

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Clear Channel Outdoor Holdings Inc. (NYSE: CCO)

Clear Channel Outdoor Holdings Inc. is a communications penny stock operating primarily in the United States. Clear Channel offers advertising services via billboards, posters, transit displays, and more. If you are driving around town and you see a billboard, it is very common to see the Clear Channel name or logo in small print under the advertisement itself. This corporation also provides street furniture equipment, cleaning services, production, bicycle rental services, and so much more.

Because of this, many consider it to be a reopening penny stock. As more people begin to travel once again, we could see a heightened emphasis on advertising companies, including CCO stock.

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One big announcement that this company made recently is the pricing of a $1,050,000,000 offering of senior notes due 2029. This sale was completed on June 1st. The proceeds from the Notes are expected to be used for transaction fees and expenses. It will also be used to redeem all of the outstanding $961,525,000 aggregate principal amounts of its 9.25% Senior Notes due 2024. This is a large amount, yes, but it could reflect positively on the company's next balance sheet.

In other recent news, the company had a presentation at the Cowen Technology, Media & Telecom Conference on June 3rd in which it held a question and answer session. These are always important for investors as they give insight into what a company is doing.

On June 9th, CCO stock was at about $2.40 a share on average. Now on June 11th, the company's stock price has reached past $3 per share. With all of these recent strides from Clear Channel and its large stock price increase recently, will it make your list of penny stocks to watch?

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Senseonics Holdings Inc. (NYSE: SENS)

Biotech penny stocks like Senseonics Holdings Inc. have been in market focus recently. Senseonics is a company that produces medical technology, and specifically develops and commercializes continuous glucose monitoring systems for those with diabetes. Its products include Eversense and Eversense XL among others; which are both implantable continuous glucose monitoring systems.

These systems work via an under the skin sensor and a removable rechargeable smart transmitter. Additionally, the device can offer information to a user's smartphone, making the day-to-day tracking of diabetes-related information, easy and accessible.

A lot of its recent momentum is due to a press release put out on June 3rd. This is when Senseonics announced the results of its PROMISE Study for its CGM sensor. These results are very positive for the company and could be part of the reason we're seeing momentum with SENS stock.

"The value of CGM for patients with diabetes, especially those requiring insulin, is unquestioned. To enable more patients to utilize CGM, there needs to be choices in product features. The accuracy profile demonstrated by Eversense in the PROMISE Study validates the role that long-term implantable CGM systems can play in helping people manage their glucose levels."

Dr. Satish Garg, the Principle Investigator in the Study

Just one week ago SENS stock traded under $3. Now as of June 11th, SENS stock is at $4 a share on average. So with this in mind, is SENS a contender for your biotech penny stock watchlist this month?

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Are Reopening Penny Stocks Worth It?

Finding the best reopening penny stocks to buy is all about understanding just what reopening is. Additionally, how will the reopening of the economy play into the future of certain companies and industries.

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While the term itself has a very loose definition, thinking outside of the box can help to form a specific penny stocks watchlist. Because the stock market moves so quickly, having a list of penny stocks on hand is the best way to stay ahead of the game. Considering all of this, are reopening penny stocks worth it?

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