Top Penny Stocks To Watch Today If Tech Is Your Focus

Are These Tech Penny Stocks On Your February Watch List?

The markets are definitely showing signs of uncertainty early Monday morning. Yet penny stocks – stocks under $5 – are still showing promise. Ahead of this week’s Fed-related headlines, the S&P 500 and Nasdaq both opened on shaky ground. Much of this had to do with news from Europe that lockdown measures could be reinstituted.

Right now, the market is waiting to see what happens next in a country that’s been battered by Covid lockdowns. While Britain is expected to give its phased reopening plan, many countries feel the pressure from the pandemic. Germany has continued limiting non-essential store hours until at least next week.

Restaurants are take-out only, and places for larger gatherings are closed. France has also instituted a nationwide curfew. However, schools and shops remain open except for cafes, restaurants, and bars. Other countries like Italy are divided based on zone as we’ve seen in the U.S. Travel between regions is limited, and in Orange zones, people cannot leave their towns except for work or emergencies.

While the U.S. may appear to be opening back up, globally, the effects of the pandemic are still quite evident. Furthermore, we’ve got to acknowledge the fact that newer strains have begun popping up worldwide. This include the “U.K. strain” and the “South African strain,” which have also been seen in the U.S. recently.

Tech Penny Stocks Watch List

While biotechnology stocks are a clear candidate for traders, we’ve also seen a trend in several technology names this week. As we’ve discussed before, penny stocks, in general, tend to move no matter what the broader markets are doing. Here are a few of the top tech penny stocks to watch right now with this in mind.

  1. Trivago (NASDAQ: TRVG)
  2. MICT Inc. (NASDAQ: MICT)
  3. Rolls Royce Holdings (OTC: RYCEY)
  4. PAVmed Inc. (NASDAQ: PAVM)
Tech Penny Stocks To Watch #1: Trivago

While it isn’t creating a new application to address climate change or track the virus, Trivago has begun grabbing the attention of the market recently. Despite the dismal outlook in Europe, globally, there are still economies that are starting to reopen. With that, travel stocks have started to trend. We discussed this last week in the article “Looking For Penny Stocks To Buy Now? 5 Travel & Hotel Stocks To Watch.”

Trivago was highlighted as its technology allows customers to book hotels at discounted rates. The company has also taken it upon itself to leverage traffic on its site and conduct surveys to gauge interest in travel. In a recent survey, Trivago found that consumer responses showed a significant level of desire to travel. When asked what they would give up to travel again, 25% of both Britons and Americans say they’d give up all their savings to do it now. Roughly 40% say they’d give up sex for a year to get on the road right away. Nearly half would give up their job (the US, 48%; the UK, 41%).

In light of this, it’s no wonder why travel stocks have begun pushing higher. Monday saw shares of TRVG stock push higher, now putting in its second-highest high of 2021. Volume was also well-above-average during the session.

top penny stocks to watch today Trivago TRGV stock chart#2: MICT Inc.

This is another one of the penny stocks that we’ve discussed off and on over the last few months. The company is involved with the increasingly popular fintech space. With things like digital currency and blockchain technology spurring interest in financial technology, MICT Inc. has benefited, in part, from the latest hype. In particular, the company offers a range of trading, online brokerage, and wealth management services.

[Read More] 4 Cheap Penny Stocks To Buy For Under $5 Before March 2021

This month, the company signed a partnership deal with Shanghai Petroleum and Natural Gas Trading Center. It provides financial services supporting the platform’s corporate and government customers, who make up about 20% of participants in China’s oil and gas trade. MICT serves as a strategic third-party partner and provides margin financing, trade execution, and trade clearing capabilities. The initial focus will be on offering services to clients trading futures and commodities contracts in China’s oil and gas market.

With growing interest in fintech in general, names like MICT have continued gaining attention. Since the beginning of February, MICT stock has climbed more than 30%.

top penny stocks to watch today MICT Inc. MICT stock chart#3: Rolls Royce Holdings

While it isn’t a pure tech stock, Rolls Royce and its engineering division have been a big focus recently. In light of the latest concern on Boeing’s grounding of its 777s highlighted a potential opportunity for other engine manufacturers like Rolls. Over the weekend, Boeing grounded planes equipped with a particular Pratt & Whitney engine.

According to the New York Times, “Boeing has delivered more than 1,600 of the jets to customers around the world, roughly 200 of which are freighters. Only 174 of the 1,600 jets were equipped with Pratt & Whitney engines…More than 1,250 of the jets were equipped with engines made by GE Aviation, with the remaining using engines made by Rolls-Royce.”

While this may bring some respite in the short-term, Rolls has been grappling with financing troubles for quite some time. The company has even gone as far as saying it will pause jet-engine plants to save capital. Rolls-Royce plans to shut civil aerospace production for two weeks this summer. This will cut pay for 19,000 staff or 40% of the workforce. However, with the recent uptick in interest thanks to the Boeing fiasco, RYCEY could be on the list of penny stocks to watch, at least in the short-term.

top penny stocks to watch today Rolls Royce RYCEY stock chart#4: PAVMed Inc.

Finally, PAVMed has firmly recovered from an earlier sell-off on Monday (so far). It took shares to lows of $3.80 just before the opening bell. The medical device technology company has been gaining attention after the first patient in the U.S. underwent a carpal tunnel release using its CarpX device. It’s also a patented FDA 510(k) cleared single-use device that can mimic anatomic results of more invasive surgery.

Read More

This week the company gave a business update highlighting several key milestones and initiatives that have sparked interest in the market. Of note, PAVMed announced that its majority-owned subsidiary, Lucid Diagnostics, will end up spinning off into a separate public company. Lucid will launch a new commercialization initiative for its EsoGuard Esophageal DNA Test.

With PAVmed remaining Lucid’s largest shareholder following any spin-off transaction, this could be a big opportunity for the company. PAVmed explained in the update that it anticipates a return to accelerating EsoGuard testing volume growth in the coming quarter. All things considered, PAVM could be one of the top penny stocks to watch heading into the end of the month.

top penny stocks to watch today PAVmed PAVM stock chart
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