There are many penny stocks to watch right now because there has been a surge in 2020. With the rise and fall of the market, some of the biggest names among multiple industries have found themselves trading below $5. What has been the main cause? The global coronavirus pandemic has wreaked havoc on large economies. However, it has also created new opportunities as well.
This week there’s much more hope in the air with regard to reopening the economy. It’s remained a hot topic of discussion across the globe. From Italy to the U.S., plans to “get back to the new normal” have begun to take shape. Needless to say, over the last few months, major innovation in the technology space has been evident.
The technology sector consists of businesses that develop, build, and market consumer electronics, electronic components, and software. Companies in the tech sector may also provide information technology services such as cloud hosting. While the best-known companies in the tech sector are giants like Apple Inc. (AAPL) and Microsoft Inc. (MSFT), there also are tech businesses that could be classified as penny stocks.
Penny Stocks To Watch In The Technology Industry
Here are four technology penny stocks to watch and possibly take action in during the times we live in:
- SeaChange International Inc.: SeaChange International develops software related to the management, storage, and distribution of digital video, particularly for telecommunications companies and television operators.
- Intellicheck Inc.: Intellicheck develops wireless technology and identity systems for various applications, including mobile and handheld access control, and security systems for the government, military, and commercial markets.
- Smith Micro Software Inc.: Smith Micro Software is a software company that specializes in wireless solutions for mobile systems, including connectivity and data traffic. The company announced in February that it has acquired the operator business of Circle Media Labs Inc.
- US Lighting Group: As a leading designer and manufacturer of electronics, the US Lighting Group has become widely known for its engineering of high-tech quality products, primarily in robotics using its own in-house artificial intelligence and commercial LED lighting including the new UV LED Light Bulb to help fight against viral agents.
Finding the right penny stock that fits your needs doesn’t have to be hard. Penny stocks are capable of growing much quicker than large-cap and can even double in a blink of an eye. It’s true that, mathematically, the gains from a solid penny stock pick can far exceed most other shares. If you were to buy a well-known company already worth tens of billions of dollars, it would take a while to double your money, let alone get a rocket shot. With a stock trading for a buck (penny stock), it’s much easier to visualize a path to $5 or $10.
Ready to invest?
As this overview of the tech sector makes it clear that this space is home to many exciting companies. Investors interested in buying tech penny stocks should take their time when considering their options. By gaining a research advantage, we can invest in companies before most big investors get on board. Take advantage of jumping on an opportunity before it becomes out of reach.