3 Hot Penny Stocks to Watch With 2022 Only Days Away
With a new year only a few days away, investors continue to search for the best penny stocks to buy. Right now, there is a sizable amount of bullish sentiment with penny stocks despite an overwhelming fear of the unknown. With the Omicron variant causing Covid case numbers to hit record highs, investors are hoping that the next few months could be better than the present. However, it is impossible to say what will happen in that time.
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But for now, the variant has created a sizable amount of market movement, and therefore, opportunity for profitability. As always, the best course of action is to thoroughly understand what is impacting the stock market and how to take advantage. With those two covered, traders can greatly improve their odds. With all of that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- Borqs Technologies Inc. (NASDAQ: BRQS)
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
- Pasithea Therapeutics Corp. (NASDAQ: KTTA)
Borqs Technologies Inc. (NASDAQ: BRQS)
One of the bigger gainers of the day on December 29th is BRQS stock, pushing up by over 7.4% at EOD. While shares of BRQS stock are down by around 60% YTD, it looks like we’re witnessing a small bullish turnaround for the company right now. While no news came out today that could help to explain this move, we can look at an announcement made last week on December 22nd.
On the 22nd, the company stated that it has entered into the automobile and EV smart cockpit market through a strategic agreement. This agreement concerns Cheyin Intelligent Technologies Co. Ltd., which is a provider of intelligent vehicle solutions for car manufacturers. The pair will begin working on a smart digital cockpit utilizing Qualcomm’s automotive solutions.
“We are very pleased to team up with Cheyin to leverage our deep expertise in the IoT and embedded software solutions. Borqs has developed software for In-Vehicle-Infotainment systems in the past several years which were installed in some of the China-made automobiles. Digital transformation in the automobile industry is accelerating in the coming years because of the robust growth of electric vehicles.”
Chairman and CEO of Borqs Technologies, Pat Chan
This is a big deal for the company and reflects its solid move into what could be a profitable market. Whether this makes BRQS stock worth buying or not is up to you. Considering that, will it be on your penny stocks watchlist moving forward?
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Another decent gainer of the day today is CSCW stock. By EOD, shares of CSCW stock had climbed by a solid 7.3%, which is no small feat. While some gains like this can occur without news, Color Star made an exciting announcement during premarket trading today. But, before we get into it, it’s worth discussing what Color Star does.
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For those unfamiliar, Color Star is a provider of entertainment and education services. It does this via its wholly-owned subsidiaries including Copper China Entertainment Ltd. and CACM Group NY Inc. Today, the company announced the invitation of Spanish football star, Iker Casillas Fernandez to its metaverse platform known as the Color Star App.
“Casillas’ collaboration with Color Star undoubtedly provides very strong support for our online celebrity interaction and offline related business sectors. Our presence of celebrity resources is increasing, and we continue to attract top artists and celebrities from around the world.”
The CEO of Color Star, Sir Lucas Capetian
While it may be too soon to deduce the full upside potential of this deal, there’s no doubting its placement as an exciting prospect. And with the market heavily focused on NFTs and anything relating to blockchain tech, CSCW is understandably popular right now. With this in mind, is CSCW worth adding to your list of penny stocks to watch next month?
Pasithea Therapeutics Corp. (NASDAQ: KTTA)
While KTTA stocks modest gain of around 3.2% today may not be something to write home about, the company could have a lot to offer. In the past five days, shares of KTTA stock have shot up a more respectable, 23%. Now, it’s difficult to identify why shares of Pasithea have been moving, although there are a few reasons we can look at.
For starters, KTTA is a biotech penny stock working on the treatment of different brain disorders. Only a week or so ago, the company announced the opening of its second Ketamine Therapy Clinic in the U.K. At these locations, it provides ketamine IV’s to those suffering from mental health issues that are untreatable with other compounds.
“Two decades of research supports the efficacy of ketamine in improving symptoms experienced in some mental health disorders. With the opening of our Marylebone location, we are expanding our footprint in the U.K. and will continue to work toward bringing this treatment option to patients nationwide.”
The Managing Director of Pasithea, Dr. Yassine Bendiabdallah
Although ketamine treatment is relatively taboo, it has become a common option in several areas of the world. And because of this, Pasithea has seen increased popularity over the past year or so. With that in mind, do you think KTTA stock is worth adding to your list or not?
Which Penny Stocks Are You Buying Right Now?
With so many penny stocks to choose from, finding the best ones for your watchlist can be tricky. However, if we take into account everything that is going on simultaneously, we can have a much easier time making money with penny stocks.
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This is due to how speculative small-caps are and the sheer amount of news impacting the stock market right now. While trading is not easy, it can be profitable for those with the right information and a proper strategy on hand. Considering this, which penny stocks are you buying right now?
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