Are These Top Penny Stocks on Your 2022 List?
As we inch closer to the end of the year, trading penny stocks remains extremely popular. And while there are a lot of penny stocks to watch, not all of them will offer the same value as others. To understand which penny stocks are worth buying, we first have to take a close look at what is going on in the stock market.
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Right now, the main contributor of market movement is the Omicron variant. In the past month or so, this new variant has wreaked havoc on world markets. While the past few trading days have been mostly bullish, this is potentially the result of the Santa Claus rally. For those unfamiliar, this is a phenomenon where during the last five days of the year, markets tend to increase as a result of overall bullish sentiment as the New Year comes.
As we move into 2022, there is also plenty to look forward to. In the next few months, we could begin to see Covid case numbers decline, as well as economic growth, continue. But, there is still a lot that is up in the air. Considering all of this, let’s take a look at three top penny stocks to add to your New Years watchlist.
3 Penny Stocks to Watch in January 2022
- Altamira Therapeutics Ltd. (NASDAQ: CYTO)
- Yamana Gold Inc. (NYSE: AUY)
- New Gold Inc. (NYSE: NGD)
Altamira Therapeutics Ltd. (NASDAQ: CYTO)
One of the larger gainers of the day so far is CYTO stock, shooting up by over 36% at midday. In the past five days, shares of CYTO stock have climbed by an even more impressive, 61% to its current price of just over $2 per share. The main reason for today’s gain with CYTO stock comes as the company provided an exciting update on its Bentrio program. But, before we go any further, it’s worth understanding exactly what Altamira does.
Altamira is a biotech company working on the development of RNA therapeutics for protection against airborne viruses and allergens. This includes compounds such as Bentrio, AM-125, Keyzilen, Sonsuvi, and more. Today, the company stated that Bentrio will soon be available through Amazon in the German market. The company also states that Bentrio could have potential in blocking the Covid virus (Delta/Omicron) from entering into the nasal passageway.
“We are pleased to report further progress with the international roll-out of Bentrio, as well as with the further preclinical and clinical evaluation of Bentrio’s protective effects against airborne viruses and allergens.”
The CEO and Founder of Altamira, Thomas Meyer
All of this is exciting news, and shows a strong commitment from CYTO for potential future growth. Whether this makes CYTO stock worth adding to your list of penny stocks to watch, however, is up to you.
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a penny stock that many investors have been watching over the past few months. As a gold stock, AUY has benefitted from market volatility as traders tend to turn toward precious metals in times of market instability. While AUY is not immune to upsets in the stock market, it can present an opportunity for stability.
In the past month, shares of AUY have climbed by a steady 3% or so with a 6-month loss of around 0.8%. And, the company plans to payout its latest dividend of $0.03 per share on January 14th. However, the most recent news from Yamana came on December 14th when it announced that its greenhouse gas abatement targets were consistent with its goal of a low-carbon future.
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And right before this, the company stated that it received a permit for its Jacobina mine, allowing it to move forward with Phase 2 of its expansion plan. Now, it states that it should be able to exceed 230,000 GEO (gold equivalent ounces) of production per year. All of this is encouraging news and shows that AUY stock could be worth keeping an eye on. Considering that, will it be on your penny stocks watchlist moving forward?
New Gold Inc. (NYSE: NGD)
NGD stock is another penny stock in a similar position to AUY. In the past month, shares of NGD stock have shot up by around 4.5%, which is quite substantial for a mining stock. The most recent news from New Gold came last week when it announced that it had closed the sale of the gold stream held on the Blackwater Project.
This deal, worth $300 million, should sufficiently capitalize the company to continue on its existing projects and move forward with new ones. If you’re not familiar with New Gold, it is a Canadian mining company with a large portfolio of assets domestically. The company has two main producing assets located in Canada which include the Rainy River Mine and the New Afton copper-gold mine. In addition to these, it has an equity stake in several other mines located throughout Canada.
While its performance over the past year is nothing to write home about, we have to consider the detrimental effects of the pandemic on businesses of all types. And as a result, NGD is seeing a bullish turnaround right now. While it is hard to predict what the future of the gold industry will look like, there’s no doubt that NGD is an exciting company to watch. With that in mind, does it have a place on your 2022 list of penny stocks to watch?
Which Penny Stocks Are on Your 2022 Watchlist?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, to have the best chance at making money with penny stocks, investors need to take the future into account. While most who invest in penny stocks do so with a short-term strategy, understanding how different factors will impact the stock market is crucial.
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Because of this, thinking ahead and looking at items such as the Omicron variant, inflation, and what could happen with the pandemic, are crucial. Considering all of this, which penny stocks are you watching in 2022?
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