Are These Under $1 Penny Stocks Worth Buying in January?
If you’re looking for cheap penny stocks to buy, there are hundreds of options to choose from. But, when we go under $1, investors should fully understand the level of volatility that they’re comfortable with. While all penny stocks or blue chips can be volatile, we tend to see a higher degree of fluctuations as the price of a stock gets cheaper.
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So, always have a thorough understanding of what your tolerance for risk is and what your investing goals are. In 2022, there is also a lot for traders to keep track of. This means staying up to date with the latest news and events as it pertains to penny stocks. Right now, the largest impacting factor as we all know is Covid and the Omicron variant.
While it is hard to say with certainty what will happen with this variant in the long term, we do know that right now, it is causing large fluctuations across the board. In addition to this, we’re also witnessing movement as a result of economic factors in the U.S.
This includes inflation, interest rates, employment, and more. But because of that, there are also a lot of opportunities to take advantage of right now. So, know exactly what you are looking for and always make sure to use your trading strategy. Considering this, let’s take a look at three penny stocks to watch under $1 right now.
3 Under $1 Penny Stocks to Watch in January 2022
- Jaguar Health Inc. (NASDAQ: JAGX)
- Sos Ltd. (NYSE: SOS)
- Zomedica Corp. (NYSE: ZOM)
Jaguar Health Inc. (NASDAQ: JAGX)
One of the bigger gainers of the day so far is JAGX stock, pushing up by around 7.5% at midday. While shares of JAGX stock are down by as much as 90% in the past twelve months, we have seen a small bullish turnaround recently. So, why exactly is JAGX stock moving up right now? Well, the company announced today during premarket that it will be hosting a treatment forum for veterinarians to discuss chemotherapy-induced diarrhea in dogs on January 16th.
This coincides with the announcement of its Canalevia compound which received conditional FDA approval on December 21st of last year. If you’re not familiar, Jaguar Health is a veterinary health-focused biotech penny stock. The company is working on a variety of plant-based, non-opioid pharmaceuticals for both people and animals with GI distress. In addition, its subsidiary Napo Pharmaceuticals is working on the same goal.
With more and more people adopting companion animals during the pandemic, Jaguar Health has seen vastly increased popularity as of late. So, while its stock performance is nothing to write home about, the company is working hard to continue growing. With all of this in mind, will it be on your list of penny stocks to watch?
Sos Ltd. (NYSE: SOS)
Another penny stock that investors are watching right now is SOS stock. With a 4.9% gain at EOD, shares of SOS stock have increased by over 7.7% in the past five days. Now, there are a few reasons why SOS stock could be increasing right now, although the company has not announced any specific news.
But, following the recent crypto crash which saw BTC dip below $40,000, most cryptocurrencies are pushing up once more. Because SOS has such a heavy hand in blockchain and Bitcoin, the company has a large amount of exposure to the industry as a whole. For some context, Sos operates as a blockchain-based tech penny stock. It offers big data, AI, satellite capabilities, 5G, and more. These products are used by financial institutions, medical industries, auto manufacturers, and much more.
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Back in November, SOS announced a securities purchase agreement with an accredited investors to purchase $90.1 million of its American Depository Shares. In this registered direct offering, the company plans to move forward with its North American business as well as general corporate needs and working capital. Considering this, does SOS have a place on your penny stocks watchlist?
Zomedica Corp. (NYSE: ZOM)
Another decent gainer of the day so far is ZOM stock which climbed by over 7% at EOD on January 12th. This brings its five-day gain to almost 10%, which is no small feat. The most recent news from Zomedica comes as the company announced a letter to its shareholders from the CEO.
“Our general strategy is to offer innovative diagnostic and therapeutic products to Veterinarians that provide a benefit to both them and the patients they serve. As you know, Zomedica launched the TRUFORMA® product line this past May, signaling a shift in the primary focus of the Company from development to commercialization.”
CEO of Zomedica, Larry Heaton
Now that the company is moving into the commercialization stage of this product, it should begin to work on building its revenue. And, this has been a major concern with investors as the company has not had the most striking balance sheet in the past few quarters. So, as a veterinary diagnostics company, Zomedica could have a lot to offer investors moving forward. With that considered, will it be on your list of penny stocks to watch under $1?
Are Cheap Penny Stocks Worth Buying?
When it comes to finding cheap penny stocks, investors need to do all the proper due diligence to make sure that the companies are worth it. This means looking at financial statements, upcoming announcements, and industry-wide events that are worth noting. Because there is so much going on in the stock market right now, these factors all can contribute greatly to your chance of making money with penny stocks. And because of the state of the U.S. economy, there is also a lot that is in flux right now.
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So, knowing what your trading strategy is and how to use that as an advantage, will both be crucial in making money with small caps in 2022. While it can be difficult considering the world we’re living in, there are plenty of opportunities to take advantage of. With that in mind, do you think that cheap penny stocks are worth buying in 2022?
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