3 Penny Stocks to Add to Your January 2022 Watchlist
As January 13th has become a volatile trading day for penny stocks and blue chips, many investors are looking for the best small-caps to buy. Now, it can be challenging to find penny stocks that are worth buying with so much going on in the stock market.
However, because there are so many factors to consider, there is also a sizable amount of momentum to take advantage of. Right now, the main contributing factor to market volatility is the pandemic. And today, that resulted in a record jump in the price of wholesale goods as well as an unexpected climb in jobless claims.
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While 230,000 unemployment filings were made last week, this remains right around pre-pandemic levels. An economist at DWS Group, Christian Sherrmann, stated that “Persistent high inflation rates together with the recent strong labor market data reinforce the hawkish narrative provided by the Fed.” So, with all of this in mind let’s take a look at three penny stocks that could be worth watching this month.
3 Penny Stocks to Add to Your Watchlist in January
- Rockwell Medical Inc. (NASDAQ: RMTI)
- Vinco Ventures Inc. (NASDAQ: BBIG)
- TDH Holdings Inc. (NASDAQ: PETZ)
Rockwell Medical Inc. (NASDAQ: RMTI)
One of the bigger gainers of the day so far is RMTI stock. By midday, shares of RMTI had pushed up by over 24% to almost $0.50 per share. While many penny stocks rise with no news behind it, Rockwell made a big announcement during premarket trading. Before we get into it, we have to take a look at what RMTI does.
If you’re not familiar, Rockwell is a biopharmaceutical company working on the development of its next-gen parenteral iron technology platform known as Ferric Pyrophosphate Citrate of FPC. The company states that this platform has the potential to treat iron deficiency as a result of several diseases. Currently, Rockwell has two FDA-approved compounds for those going through hemodialysis. Today, the company announced regulatory approval of its Triferic compound in South Korea. With more than 82,000 patients going through hemodialysis in South Korea, this could be a substantial addressable market for the company.
“The approval by MFDS is an important milestone for Rockwell Medical, but more importantly, for the more than 82,000 patients in South Korea undergoing hemodialysis. With its considerable development and commercialization capabilities and local market expertise, we believe Jeil is well-positioned to ensure that hemodialysis patients have access to our innovative therapeutic across South Korea.”
The CEO of Rockwell Medical, Russell Ellison, M.D.
With this big news in mind, does RMTI deserve a spot on your list of penny stocks to watch or not?
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures is a penny stock that we have covered numerous times in the past few months. And with a 13% gain today bringing its five-day gain to almost 40%, BBIG stock is once again seeing heightened popularity. Vinco Ventures is often referred to as a meme stock due to its consistent mentions on social media.
While this could be one of the main reasons for its movement today, investors are also hopeful for its Lomotif app which is a competitor of TikTok. Currently, Vinco has an 80% stake in Lomotif, which was purchased through a joint venture between it and Zash Global Media and Entertainment. While Lomotif is nowhere near as large as TikTok, the potential market size given the popularity of online video-sharing apps right now is major.
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The company states that the app has more than 31 million users per month that are active and on-platform. Additionally, the company is working to integrate Adrizer onto the platform which will hopefully bring in a greater chance of higher advertising revenue. While a lot is in the air for BBIG stock, there is also a lot to look forward to. Considering that, will BBIG be on your penny stocks watchlist?
TDH Holdings Inc. (NASDAQ: PETZ)
Another decent gainer of the day so far is PETZ stock. By midday, shares of PETZ had climbed by around 5% to over $0.60 per share. This comes after a five-day drop of more than 84% with the bulk of that occurring earlier in this week. While today’s gain may be the result of a positive correction, it’s worth taking a look at what the company does. In its most recent announcement, PETZ put out its first half of 2021 financial results.
In the results, the company posted a decrease in revenue of over 50% over the same period of the previous year. The company states that this was due to labor arbitration as well as the effects of the pandemic. With an operating loss of $1.17 million alongside a gross loss of $0.18 million, it’s clear that PETZ financial situation is nothing to write home about.
If you’re not familiar, TDH Holdings is a producer of a large range of pet food products. These products are sold across China, Asia and Europe, which has allowed it to vastly broaden its reach. So, while PETZ stock has had a less than stellar year so far, it looks like we could be seeing a small bullish turnaround for the company right now. Whether this makes it worth buying or not is up to you.
Which Penny Stocks Are You Buying in 2022?
With such a long list of penny stocks to buy, how can we pick the best ones for our portfolios? Well, the short answer is that it can be tricky. But, with a consistent understanding of what’s going on in the stock market and how to trade, it can be much easier than previously imagined. Right now, the main point of focus for all investors is the pandemic.
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However, we also have to contend with external factors such as the U.S. economy, jobs reports, inflation, and so on. So, while investing right now is not for the faint of heart, it can be profitable if done correctly. With that in mind, which penny stocks are you buying in 2022?
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