Color Star Technology Co. Ltd. (NASDAQ: CSCW)

Color Star Technology Co. Ltd. is a communications penny stock that we have discussed frequently in the past several months. If you’re unfamiliar, CSCW is a communications company that has climbed in the double-digit percentage points in just the last five days. Color Star offers music education services throughout the United States and China. The company’s Color World platform provides music, sports content, animation, film, and much more for children. It also offers celebrity lectures, concert videos, and artist interactive communication.

On October 12th, Color Star announced a collaborative event with musicians, music producers, and screenwriters to create a “virtual world” live musical. The theme of the musical led by Color Star is “Dream”. This event will bring in renowned artists to make a situational musical as a traditional theater-style performance. All of the background and fixed props were independently created in the form of non-fungible tokens (NFT). Because NFT’s are so popular right now, investors continue to search for the next big opportunity that relates to them.

On October 22nd, CSCW stock’s volume was over 33 million compared to an average of about 3.2 million. Its stock price also increased by more than 14% on the same day. This is a clear indicator that CSCW stock is very popular right now. Considering all of this solid momentum for Color Star, does it deserve a spot on your penny stocks watchlist? 

RISE Education Cayman Ltd. (NASDAQ: REDU) 

One of the biggest gainers of the day so far is RISE Education Cayman Ltd. By EOD, shares of REDU stock had shot up by over 85%, bringing its five-day gain to more than 125%. This is a major gain, and one that reflects both the bullish sentiment in the market right now and the company itself. Because there is no company-specific news causing this gain, we have to take a closer look at RISE to deduce why shares shot up so much during today’s trading.  

For starters, RISE Education is an education service provider utilizing the OMO or online-merge-offline teaching model. The company focuses on younger students in the age range of three to eight. With this, it offers products such as its WhySTEAM and RISE Study Tour. The latest update from the company came at the end of August. It announced that it had shifted its management following the resignation of the former CFO of the company. 

More recently, news came out regarding the company that it needed to bring its price up or else it would face potential delisting from the NASDAQ. However, with today’s gain, shares are well above the $1 minimum bid price compliance threshold. So, while REDU stock is highly volatile, investors do seem to be interested in the company. Whether this makes it worth adding to your list of penny stocks to watch or not is up to you. 

Exela Technologies Inc. (NASDAQ: XELA) 

Another major gainer of the day today is Exela Technologies Inc., pushing up by over 50% by EOD. This brings XELA stock’s YTD gain to over 90%, which is no small feat. Today, we saw several major tech companies push up alongside Tesla Inc.’s (NASDAQ: TSLA) 12% move. This also comes as several major FAANG stocks are set to report balance sheets as the week goes on. In addition to this, Exela announced today news surrounding its DMR or digital mailroom solution. 

This is big news for the company and is likely a major reason why shares of XELA stock pushed up during trading. If you’re not familiar, Exela is a BPA or business process automation leader working to provide its tech to companies around the world. This includes several major Fortune 100 businesses that are on its roster of over 4,000 customers. Considering its role as a leading tech company, XELA stock could be worth keeping an eye on moving forward. 

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