3 Penny Stocks That Investors Are Watching This Week
With another week of trading penny stocks set to begin, there is a lot that investors are looking forward to. After a less than stellar few weeks of trading, investors are hopeful that the future could be more bullish than the present.
Now, to understand whether or not this is true, we have to take a look at what is going on in the stock market. In 2022, this includes inflation, the pandemic, interest rates, and geopolitical tensions to name a few. While this may seem like a lot, when we break it down individually, we can find ways to use these to make money with penny stocks.
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When it comes to small-caps, we see that both speculation and volatility are high. This is the result of the low price and high volume that are characteristic of stocks under $5. And for this reason, most investors choose to utilize a swing trading method. This means buying and selling in short increments of time.
So, having a keen and thorough understanding of what is going on in the stock market is and will always be crucial. In 2022, investing in penny stocks is not easy, nor is it for the faint of heart. Always have a trading strategy on hand and use it daily. With this in mind, let’s take a look at three penny stocks to add to your watchlist this week.
3 Penny Stocks to Add to Your Watchlist This Week
- Phunware Inc. (NASDAQ: PHUN)
- Zomedica Corp. (NYSE: ZOM)
- Tellurian Inc. (NYSE: TELL)
Phunware Inc. (NASDAQ: PHUN)
One of the bigger gainers of the day on Friday, February 4th was PHUN stock. In the past week or so, shares of PHUN managed to climb by over 20% to north of $2.50 per share. One of the main reasons that Phunware has been moving up is rumors surrounding its role in Trump’s new social media app.
When these rumors were found to be false, shares quickly dipped. And since then, we have seen a sizable amount of volatility with PHUN stock, that is likely to continue. However, there are some reasons that PHUN could be worth watching. One reason is its potential as a short squeeze stock. These are penny stocks that have major short positions held against them, such as GME and AMC stock in the past.
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In addition to this, PHUN has a large amount of exposure to the crypto world via its dual-token ecosystem. And as a result, some investors are interested in it for this reason. Now, because PHUN stock is so volatile, it can be tough to see it as a longer term play. However, with its decent prospects, PHUN could be worth adding to your penny stocks watchlist.
Zomedica Corp. (NYSE: ZOM)
Zomedica Corp. is a penny stock that we have covered numerous times in the past few months. And, there are several reasons for this. With a 5% gain on February 4th, we have also begun to see a sizable bullish turnaround for the vet-focused biotech company. Just one week ago, the company announced an update on sales and marketing related to PulseVet. This has to do with the acquisition of PulseVet which was only announced recently.
“We are excited about the opportunity to build on our momentum by leveraging the fully trained Zomedica field sales force to continue to grow the business.”
The VP and General Manager of Zomedica, Adrian Lock
Additionally, the CEO of Zomedica, Larry Heaton stated “It’s all in the waves’ was our theme for the meeting – Bulk Acoustic Waves provide the reference lab quality accuracy for the TRUFORMA diagnostic platform, and the PulseVet products utilize hydraulic shock/sound waves to provide a therapeutic benefit for animal patients.”
If you’re not familiar Zomedica is a provider of veterinary health products including the Truforma diagnostic platform and more. It works on both therapeutic and diagnostic technologies to help make the lives of patients and veterinarians easier at large. With all of this considered, do you think that ZOM stock is worth adding to your list of penny stocks to buy or not?
Tellurian Inc. (NYSE: TELL)
Another penny stock that managed to climb heavily on February 4th is Tellurian Inc. On Friday, shares of the natural gas company shot up by over 5.3% to around $2.40 per share. The big news with Tellurian comes as it announced it would begin construction at its $16.8 billion Driftwood LNG plant in Louisiana.
The company states that construction could begin as early as April, and the first phase will allow it to process 11 million tons per year when at capacity. Additionally, the company stated that it will be paid for via a mixture of two thirds debt and one third equity.
Right now, there is a major emphasis on the energy industry. And with heightened demand and supply constraints, new methods of extracting and producing energy are in need. So, the company continues to see a large demand for this plant to get up and running as soon as possible. While it may take some time to do so, this is big news right now and could continue to bring popularity to TELL stock. Whether this makes it worth buying or not however, is up to you.
Which Penny Stocks Are on Your Watchlist Right Now?
If you’re looking to find the best penny stocks to buy, there are hundreds of options to choose from. While it can be difficult given the sheer number of small-caps out there, having a trading strategy and understanding the market are both crucial. Additionally, because penny stocks are inherently risky, knowing your tolerance for volatility is key to meeting your investment goals.
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And, with 2022 already shaping up to be an extremely volatile year, having strong trading goals and using your strategy to get there, will help you to make money with penny stocks. So, considering that February is a new month that hopefully will be more bullish than January, there is a lot to take in. With all of that in mind, which penny stocks are on your watchlist right now?
