3 Penny Stocks to Watch in February 2022
As we continue to barrel through February, there is a lot for investors to understand about trading penny stocks. Right now, there are several factors that continue to impact the trajectory of the stock market. This includes Covid, inflation, interest rates, unemployment, and certain geopolitical tensions.
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As a result of the sheer number of factors impacting the stock market, investors need to be more careful than ever, and understand exactly how and why stocks are moving. With penny stocks, volatility continues to be extremely high. This can be a major benefit if it is part of your trading strategy. However, volatility can also lead to very swift and large losses if one is not careful.
So, make sure that you know your investing goals and your trading strategy by heart. This is the best way to have a heightened chance of making money with penny stocks in 2022. Considering that the large market fluctuations are likely to continue, it all comes down to understanding how to take advantage of the movement. 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
- Yamana Gold Inc. (NYSE: AUY)
- Senseonics Holdings Inc. (NYSE: SENS)
- DiDi Global Inc. (NYSE: DIDI)
Yamana Gold Inc. (NYSE: AUY)
With a 3% gain at EOD on February 7th, AUY stock is in focus for many investors right now. If you’re not familiar, as its name suggests, Yamana is a Canadian-based producer of precious metals. This includes gold and silver, which are produced at its large range of facilities.
Currently, Yamana has land positions in countries such as North/South America, Canada, Brazil, Chile and Argentina. And, the company states that its main goal right now is continued expansion. This will be done through both growth at its current mining operations and new opportunities around the world. The latest news from Yamana came last month when the company announced that it will be posting its Q4 and full year 2021 operating results. It will do these after the market closes on February 17th.
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This is exciting for investors to consider and should be kept in mind looking forward. In its preliminary report, the company stated that it expects Q4 production to come in around 280,000 gold equivalent ounces. And moving forward, gold production remains a key metric to look at Yamana Gold through. Considering this, do you think AUY belongs on your list of penny stocks to watch?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is another penny stock that climbed today. By EOD, shares of SENS stock pushed up by over 7.9%, which is no small feat. And, in the past five days, shares of SENS stock have climbed by more than 34%. The main reason for this gain comes as the company received positive news from the FDA regarding its glucose monitoring system or CGM. This news came in early January, and has continued to result in positive movement for SENS stock.
“We understand that the FDA is at full capacity managing the backlog of COVID-19 related filings creating longer than expected review timelines. We are confident a decision regarding approval of the 180-day system will be made in the coming weeks as the FDA continues to clear out the backlog.”
The CEO and President of Senseonics, Tim Goodnow
The company stated that it should begin to transition this product into its lineup by the second quarter of this year. And, it also announced that its financial outlook for the full year 2021, should be in between $12 and $15 million. All of this is highly positive and shows that SENS stock is growing right now. And, with such a high unmet clinical need for new and improved diabetes monitoring tools, Senseonics is in an advantageous market position. With all of this in mind, will SENS be on your penny stocks watchlist this month?
DiDi Global Inc. (NYSE: DIDI)
Another big gainer during trading today was DIDI stock. By EOD, shares of DIDI had climbed by over 4.5%. This is a sizable amount and brings a new bullish pattern into DIDI’s six month loss of over 60%. If you’re not familiar, DiDi is one of the largest ride-hailing platforms in China, and has been a highly volatile play for several months now.
When it was listed on the NYSE a few months ago, shares were trading around $14 per share. However, it is now thoroughly in penny stock territory at around $3.50 per share. As a result of issues with the Chinese government, the company is under a lot of pressure right now and has been recently. Because of this, some investors believe that DIDI could work to go private in the near future.
On the other side, the company could also move toward a potential public listing on a local exchange. So, as you can see, there is a lot to consider with DIDI stock. And because of this, it is tough to envision DIDI as a busy right now outside of its volatility potential. It is worth noting that the ride hailing business is major globally, and with DIDI’s large market share in China, this is its major product. So, whether DIDI stock is worth buying or not is up to you.
Which Penny Stocks Are You Watching in February?
As February gets rolling, there are hundreds of penny stocks to choose from. Now, the best way to make money with penny stocks in 2022 is to have a complete understanding of what is going on in the stock market. This means knowing what factors are impacting both the stock market at large, and the penny stocks on your list.
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As always, the best investor will always be the one with the most information on hand. And with the power of the internet, anyone can be as informed as the top traders. So, with all of this in mind, which penny stocks are you watching in February?
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