5 Penny Stocks To Buy (September 2024)

Summary

This video discusses the top five penny stocks poised for extreme growth in September 2024, each with potential catalysts like FDA approvals or product launches. The stocks include Red Cat Holdings in the drone sector, ReShape Life Sciences targeting obesity treatment, Lantern Pharma using AI for cancer therapies, Profase Labs with an antiviral drug in trials, and Veritone offering AI solutions across industries. The video emphasizes the importance of trading penny stocks for short-term gains and provides insights into upcoming catalysts that could drive their prices.

Takeaways

• 📈 The video discusses the top five penny stocks with potential for extreme growth in September 2024, each with a clear catalyst for price spikes.
• 🚀 Stocks with high volatility can experience significant price increases followed by sharp declines, which is why timing and trading strategy are crucial.
• 💡 The importance of conducting due diligence on penny stocks is emphasized, as they can be highly speculative and risky investments.
• 🔗 A recommendation is made for a trading platform, Mumu, which is offering up to 30 free stocks for new users, highlighting a special deal for viewers.
• 🔬 Red Cat Holdings (RCAT) is highlighted as a company in the drone and defense sector with potential for growth, focusing on drone hardware, software, and services.
• 🏥 ReShape Life Sciences (RSLS) is targeting the obesity treatment sector with its Lap Band system, aiming to capture a portion of a market projected to reach $27 billion by 2030.
• 🧬 Lantern Pharma (LTRN) uses AI to discover cancer therapies, with its lead compound entering clinical trials, offering a unique approach to drug development.
• 💊 Profase Labs (PRPH) is preparing for the commercialization of its antiviral drug, with final phase trial data expected, which could lead to significant price increases if successful.
• 💡 Veritone Inc. (VERI) is an AI technology company with solutions across media, advertising, government, and other sectors, looking to expand into energy optimization and AI adoption.
• ⏰ Upcoming catalysts for these stocks include new military contracts, regulatory approvals, clinical trial updates, new product launches, and strategic partnerships.

Q & A

What is the main focus of the video?

The main focus of the video is to discuss the top five penny stocks for potential extreme growth in September 2024, highlighting stocks with catalysts such as FDA approval dates, new product launches, or other predetermined events that could lead to significant price spikes.

What is meant by 'catalyst' in the context of the video?

In the context of the video, 'catalyst' refers to events or developments that can trigger a rapid increase in a stock's price, such as FDA approval dates, new product launches, or other significant company announcements.

Why is it suggested not to hold penny stocks for the long term?

It is suggested not to hold penny stocks for the long term because they are volatile and often experience a 'pump and dump' pattern, where the stock price spikes after a catalyst and then drops as investors lock in profits. Long-term holding without reacting to these market movements can lead to significant losses.

What is the significance of the broker recommendation in the video?

The video recommends Mumu as a broker for trading penny stocks, highlighting their offer of up to 30 free stocks to try out their platform. This is presented as a significant deal compared to other brokers and is intended to encourage viewers to consider using Mumu for their trading needs.

What is Red Cat Holdings and why is it highlighted in the video?

Red Cat Holdings is a company in the drone and defense sector, highlighted for its potential growth due to its focus on drone hardware, software, and services. It is seen as an emerging player with solid momentum and strategic partnerships, making it an interesting penny stock for investors looking for potential catalyst-driven growth.

What are the potential catalysts for Red Cat Holdings' stock price?

Potential catalysts for Red Cat Holdings' stock price include new military contracts, expansion into commercial markets, and new product launches. Each of these developments could lead to a significant spike in the stock price.

What is ReShape Life Sciences and how does it relate to penny stocks discussed in the video?

ReShape Life Sciences is a company targeting the obesity treatment sector with its minimally invasive weight loss surgery system. It is related to penny stocks in the video as it is presented as a stock with potential for significant price spikes due to its market segment and upcoming catalysts such as regulatory approvals and new product developments.

How does Lantern Pharma's AI technology contribute to its potential as a penny stock?

Lantern Pharma uses AI to analyze data and discover cancer therapies, which is a unique approach in the biotech sector. Its RADR platform's ability to predict patient responses to drug compounds can significantly speed up drug development, making it an attractive investment for those looking for penny stocks with innovative technology and potential for growth.

What is the significance of Profase Labs' final phase trial data expected in September?

The final phase trial data for Profase Labs' main drug, Equivir, is significant as it could lead to a 'sergy murgy' or a significant price spike if the trial results are positive. This is a key catalyst for the stock, as the success of the trial could pave the way for commercialization and potentially increase the company's revenue and stock value.

What are the key sectors Veritone Inc operates in and how do they contribute to its potential as a penny stock?

Veritone Inc operates in sectors such as media, advertising, government, and energy, offering AI-driven solutions. Its diversification and key partnerships with large corporations and government entities provide steady revenue streams and potential for growth, making it a penny stock with multiple catalysts for price spikes, such as expansion into new sectors and increased AI adoption.