3 Trending Penny Stocks to Watch Right Now
As we move further into another week of trading penny stocks and blue chips, there is a lot for investors to understand. For one, there is a sizable amount of volatility in the stock market right now that doesn’t look like it’s going anywhere anytime soon. As a result, investors need to stay on their toes and understand exactly what is going on and how to take advantage.
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With such a variety of factors impacting how penny stocks are trading, knowing what is occurring in both the short and long term will be a major advantage. Right now, this includes inflation, interest rates, geopolitical tensions, and so on. Because penny stocks are so speculative, all of these will likely cause large momentum in the near future.
So, with February hopefully showing more bullish movement than January, having a watchlist remains crucial. This watchlist should be fully in line with your risk tolerance and strategy. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks That Are Trending in 2022
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Progenity Inc. (NASDAQ: PROG)
- Meten Holding Group Ltd. (NASDAQ: METX)
Vinco Ventures Inc. (NASDAQ: BBIG)
One of the bigger gainers of the day so far is BBIG stock. By EOD, shares of BBIG had climbed by over 6%, which is no small feat. This brings BBIG stock’s one-month gain to over 34%. Considering this major bullish sentiment, it’s worth looking into why Vinco Ventures has been climbing so much in the past few trading sessions.
Now, the main reason that investors are watching BBIG stock right now seems to be its role in the cryptocurrency industry. But before we go further into this, it’s also worth considering Vinco’s moves in the media sector as well. Last January, Vinco made headlines when it and Zash Global Media and Entertainment announced a reverse merger. And since then, the new company which has temporarily kept the Vinco name, bought Lomotif. Lomotif is a video-sharing platform the company states could compete with TikTok.
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So, moving into the crypto sector, Vinco Ventures has worked to build its spinoff known as Cryptyde, which it plans to have trade on the NASDAQ under the symbol, TYDE. In the past few months, we’ve seen this come to fruition, and more recently, it entered into a definitive agreement to raise $42 million through debt and common equity.
“We are focused on executing on our vision to become a leader in the blockchain and web3 space. We are actively pursuing growth opportunities and looking to collaborate with partners who can enhance our future offerings, while striving to develop a world-class organization for our stakeholders.”
The CEO of Cryptyde, Brian McFadden
So, while it is tough to see what the long-term future of BBIG stock will look like, in the meantime, its movement is attractive. Considering this, will it be on your list of penny stocks to buy?
Progenity Inc. (NASDAQ: PROG)
Another decent gainer of the day so far is PROG stock. By EOD, PROG had climbed by over 8% despite a one year drop of over 75%. While no news is causing this gain today, we can look at the most recent announcement from Progenity to see why shares may be increasing.
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A week or so ago, the company announced the strengthening of its Intellectual Property with its single-molecule detection technology. It stated that with U.S. Patent No. 11,230,731, it should be able to further its research.
“We have added another important patent to our IP portfolio for the single-molecule detection platform, which is designed to enable sequence-free counting of target analytes including cell-free nucleic acids. We believe this approach may have important near-term impact in the fields of noninvasive prenatal testing (NIPT) and liquid biopsy.”
Matthew Cooper, the General Manager of Diagnostics at Progenity
This is great news for the company and continues to illustrate why shares are pushing up right now. Keep in mind that there is also a sizable amount of movement in the biotech sector at large. Because of this, many investors continue to look for biotech penny stocks that could be worth buying. With that in mind, is PROG stock worth adding to your penny stocks watchlist or not?
Meten Holding Group Ltd. (NASDAQ: METX)
Meten Holding is a penny stock that we’ve covered plenty of times in the past few months. And with a 2% gain today, shares of METX stock are once again in focus. While not much news has come out of Meten Holding recently, the company has made some big strides in the past few weeks. On January 26th, Meten announced that it has launched the trial of its new Metaverse educational courses. The company states that this course is for students who wish to gain a better understanding of the Metaverse.
“We are thrilled about launching the Courses, through which we hope to address the issue of talent shortage in Metaverse and blockchain industry, especially the shortage of Metaverse infrastructure staff, which was an issue we identified in the process of promoting the business.
Launching the Courses allows us to utilize our resources, knowledge and experience to cultivate talents for the Metaverse and blockchain track and make our contribution to Metaverse vocational education.”
CEO of Meten Holding, Alan Peng
This is all exciting news and should be considered for those interested in METX stock. With that in mind, will METX be on your list this month?
Which Penny Stocks Are You Buying Right Now?
If you’re looking for penny stocks to buy, there are plenty of options to choose from. Because of that, it’s crucial to have all the research available as well as a thorough and consistent trading strategy. With the market as volatile as it is right now, there is a lot for investors to understand. So, with all of that in mind, which penny stocks are on your buy list right now?
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