Looking for penny stocks to buy? Whenever there’s a major climate event like Hurricane Dorian or Hurricane Irma a few years back, investors look to certain stocks. Albeit many penny stocks don’t necessarily depend on broader market events. Despite this, it doesn’t hurt these stocks either. So, right now as the South Eastern US is tracking Hurricane Dorian, we’re looking for penny stocks to watch after the dust settles.
In any event, keep your trading plan intact regardless of the hype around certain sectors. Start with your penny stocks watch list and from there, you can drill down to certain stocks. At the end of the day, it’s about managing risk. But with such a huge storm brewing, you can’t ignore certain sectors that could benefit from such an event. On the note, here is a look at 3 penny stocks to watch after the storm ends.
During times like this with Hurricane Dorian closing in on the US, shipping is important. Eagle Bulk Shipping (EGLE Stock Report) has started to see a new momentum trend build. The company is a shipowner-operator that focuses on global transport. Since early signs of the hurricane, EGLE stock began to steadily climb.
Earlier in August, the company established a new office in Copenhagen. The move relocates Eagle’s existing base in Hamburg. Gary Vogel, Eagle Bulk’s CEO, commented, “Given its significant concentration of dry bulk activity, we believe that Copenhagen is the ideal location for our European commercial operations. We are pleased to welcome Mathias to Eagle Bulk and believe his experience and network make him well-positioned to lead this new venture.”
You may not think that tech penny stocks to buy would be a hot ticket item from Hurricane Dorian. And, well, you probably are correct. But, in this event, Arlo Technologies (ARLO Stock Report) has caught attention in the market this week, which could be a sign for this penny stock next week. The company itself is an internet camera company that has been on a steady climb at the end of August.
RSI and MACD indicators have pulled up from bottom levels as well. When it comes to penny stock technical indicators like these, it’s important to monitor momentum. The stock dropped after reporting earnings.
So why has ARLO stock jumped? Though there hasn’t been recent news, a report from Raymond James citing positives of Sonos Inc. could have shed some light on the sector. Either way, it could be a penny stock to watch at the start of September.
What’s a hurricane penny stock watchlist without energy stocks? Bloom Energy (BE Stock Report) has caught a stride on August 30th. This comes just one day after hitting new 52-week lows of $4.02 on the 29th. With Hurricane Dorian looming, the need for power is obvious. Now for Bloom it focuses on making fuel cells for commercial backup power. When or if areas in Florida lose power, they may be getting backup power from Bloom brand cells.
Earlier this summer, Duke Energy inked a deal with the company. The specifics included Duke buying about 37 megawatts of Bloom Energy Servers. Duke already secured long-term power purchase agreements with creditworthy customers primarily located in California, Connecticut, Maryland, and New York. Duke also has customers in Florida, too.
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