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3 Tech Penny Stocks to Watch During the Market Crash

Can These Tech Penny Stocks Gain Momentum While the Market Dips?

During a market dip, those who invest in penny stocks will often look for companies that could have gaining potential. And to do so, we have to first look at the underlying causes of the market crash, to identify which areas could be most resistant. 

Why is the Stock Market Down Today?

During pre-market, the Dow Jones Industrial average futures fell by around 650 points or almost 2%. The root cause of this is a major sell-off that occurred in equities in the Chinese property market. This put the major Chinese developer, Evergrande Group close to default, which is inspiring fear around world markets. However, if we look at trends, we see that September tends to be a month where losses are common. 

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The Stock Trader’s Almanac states that September averages a decline of around 0.4%. So, while today’s bearish trading may seem disheartening, we have to remember that both penny stocks and blue chips trade in periods of ebb and flow. This means that when there are downtrends, they are usually followed by uptrends and vice versa. And, if we consider the extraordinary times we’re living in, this makes even more sense. 

With Covid cases beginning to slow, however, we could start to see more confidence in the market moving forward. However, a lot will depend on what happens in the coming weeks. So, with all of this in mind, let’s take a look at three penny stocks to watch during the market crash today. 

3 Tech Penny Stocks To Watch During Today’s Crash 
  1. Sonim Technologies Inc. (NASDAQ: SONM)
  2. Advaxis Inc. (NASDAQ: ADXS
  3. BEST Inc. (NYSE: BEST
Sonim Technologies Inc. (NASDAQ: SONM)

Sonim Technologies Inc. is a tech company that sells rugged mobile phones and accessories. Its products include the Sonim XP8, Sonim XP5s, and Sonim XP3 which are based on the Android platform. It also provides speaker microphones, charging accessories, cloud-based software, and much more. All of this makes it out to be a mostly pure-play tech stock with exposure to the mobile market as well as the accessories industry. 

On September 14th, the company announced a reverse stock split. This reverse stock split took place on September 15th. This one-for-ten reverse stock split is now active and its volume is extremely high at the moment as a result. Often, split’s like these will take place to increase liquidity and raise capital for the company. However, it does usually take some time to see positive results from this. In other recent news, the company just launched its new XP3 plus ultra-rugged flip phone. This new phone is available at T-Mobile stores across the nation. The launch of new products is always exciting for the company involved and investors alike. 

“There’s a large base of frontline and field workers who need reliable, durable and simple communications, and for the last two years the XP3 rugged flip phone has met those needs to become Sonim’s highest volume product.”

Chief Marketing Officer of Sonim, John Graff

Overall, SONM stock is performing well in the market amid these announcements. So will you be adding SONM to your list of penny stocks to watch?

Penny_Stocks_to_Watch_Sonim_Technologies_Inc_SONM_Stock_ChartAdvaxis Inc. (NASDAQ: ADXS)

While ADXS is not a tech penny stock for the most part, it is working on groundbreaking technological advancements in the biotech field. Advaxis Inc. is a penny stock that has climbed by over 25% in the past month alone. This company discovers, develops, and commercializes biotech products. The U.S.-based company is currently developing ADXS-PSA which is in Phase 2 clinical trial to treat prostate cancer. It also offers ADXS-504 for treating prostate cancer which has a very large target market globally.

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On September 10th, the company reported its third-quarter financial results and business update. During this quarter, the company entered a definitive merger agreement with Biosight Ltd. to advance its pipeline of clinical-stage oncology programs for solid tumors and hematological malignancies. The company experienced a drop in research and development expenses because of a reduction in costs associated with winding down clinical studies.

“We expect that the coming months will provide data readouts from our expanded off-the-shelf neoantigen program in both NSCLC and prostate cancer which will build upon our strong foundation of data show consistent clinical benefit, the potential to enhance and/or restore responsiveness to checkpoint inhibitors and on-mechanism innate and adaptive immune system stimulation.”

President and CEO of Advaxis, Kenneth A. Berlin

If we consider the merger with Biosight and the potential that ADXS has as a leading biotech penny stock, it could be worth keeping in mind in the coming weeks. 

Penny_Stocks_to_Watch_Advaxis_Inc._(ADXS_Stock_Chart)BEST Inc. (NYSE: BEST)

BEST Inc. is a tech penny stock that has climbed by over 70% in the past month and 18% in morning trading today. If you’re unfamiliar, BEST Inc. is a smart supply chain service-providing company. Its BEST Cloud technology platform enables its customers to operate through various SaaS-based applications. The company applies its technology to network and route optimization applications as well as smart warehouses and store management. BEST additionally offers integrated services and solutions across the supply chain as well such as warehouse management and order fulfillment.

On August 17th, the company announced its unaudited second-quarter financial results for 2021. BEST’S revenue fell 5% year over year because of a decrease in average selling price for its express and freight business types. The company also experienced a net loss and gross loss as a result of this decrease. 

“Given the supportive industry regulatory environment and continued strong e-commerce growth, we are optimistic that our strategic refocusing plan will position us to deliver improved operating and financial results in the coming quarters.”

Founder, Chairman, and CEO of BEST Inc., Johnny Chou

This may seem bleak, but in the last month, BEST stock has performed well in the market as illustrated by the numbers. With this new info in mind, will BEST make your list of penny stocks to watch?

Penny_Stocks_to_Watch_BEST_Inc._(BEST_Stock_Chart)Which Penny Stocks Are You Watching During Today’s Market Crash?

While a market crash is not ideal for investors, it does present opportunities to take advantage of. On one hand, investors can look at the root cause of the crash to try and find alternative penny stocks that could benefit.

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And on the other hand, when stocks hit intraday lows, it could present buying opportunities in either the short or long term. With all of this in mind, which penny stocks are you watching during today’s market crash. 

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