3 Penny Stocks to Add to Your Watchlist in February
If you’re making a list of penny stocks to buy, there are hundreds of options to choose from. But, because there are so many options, investors need to be picky and select the ones with the most potential. This means understanding exactly what is at play in the stock market and how to take advantage.
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Right now, the main contributing factor is geopolitical tensions between Russia and Ukraine. This has caused a major amount of volatility for both penny stocks and blue chips. And because it is likely that this will continue to be the case for some time, it is worth considering how to take advantage of the situation. With this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- Yamana Gold Inc. (NYSE: AUY)
- Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
- Alaunos Therapeutics Inc. (NASDAQ: TCRT)
Yamana Gold Inc. (NYSE: AUY)
At around $4.90 per share as of EOD on February 18th, AUY stock is in focus for many investors right now. In the past five day and one month periods, shares of AUY stock have shot up by over 11% and 15% respectively. However, the majority of those gains have come since the beginning of February, when the price of gold began to shoot up.
The most recent news from Yamana Gold came on February 17th when the company announced its 2022-2024 guidance and an update for its ten-year outlook. It stated that it is increasing its guidance to 1.03 million gold equivalent ounces from 1 million for 2022. And by 2024, it states that this number could hit more than 1.06 million GOE. While a ten-year outlook seems like a large range to offer to investors, it also shows confidence in the future of the company as a whole.
In addition to this, the company states that it is well positioned to continue exploring different properties and expanding its current ones. This will be done using its current cash flow and the cash flow from forward operations. In addition to all of this, the company posted a first quarter dividend of $0.03 per share, which is quite substantial. With recently released earnings, the company has been popular among investors.
“We were able to deliver this increased production at lower costs with total cost of sale, cash costs, and all-in sustaining costs all lower year over year. This strong operational performance is expected to continue into the future, as you can see from our guidance.”
CEO and President of Yamana Gold, Daniel Racine
Considering all of this exciting news, it looks like Yamana could be worth adding to your penny stocks watchlist.
Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
By EOD on February 18th, shares of Clear Channel Outdoor Holdings had shot up by over 2%. This brings it to more than $3.70 per share. In the past five days, CCO stock has climbed by around 10% and in the past month by over 16%. These are substantial gains and reflect advancements made by the company and the industry as a whole.
The most current news from the company is its upcoming earnings report which will be released on February 24th. Ahead of this, many analysts expect the company to increase its earnings YoY due to higher revenues. The Zacks consensus estimate states that it could post a quarterly earnings of $0.08 per share. This would be a more than 200% increase YoY, which is no small feat.
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While this is nothing more than an estimate, the hopes are that CCO will at least be able to beat its previous year. Now, as more people begin to travel again, CCO could see heightened demand for its services. And if you’re not familiar, Clear Channel offers a variety of physical advertising products. This includes bus bench ads, billboards and much more. So, with all of that considered, do you think CCO stock is a worthwhile addition to your list of penny stocks to watch?
Alaunos Therapeutics Inc. (NASDAQ: TCRT)
One of the bigger gainers of the day so far is TCRT stock. At EOD, shares of TCRT stock had shot up by over 5% to more than $0.85 per share. With a six month drop of more than 40%, is this a bullish turnaround for TCRT stock or simply a random spike? To understand this, it’s worth taking a closer look at what the company does and any recent announcements.
Alaunos Therapeutics is biopharmaceutical company working in several unique fields. The company states that it produces immune-oncology compounds that utilize cell and gene therapies for those with cancer. It does this through acquisitions, drug development, and eventually, commercialization.
Some of its most popular pipeline products include Sleeping Beauty TCR-T Targeting neoantigens, Ad-RTS-hlL-12 + veledimex, and much more. While there is no recent news from the company, we are seeing an overall bullish pattern form with biotech penny stocks in the past few trading days. And although it is difficult to characterize why TCRT stock is climbing right now, it could be due to a variety of factors.
With any biotech penny stock, it is crucial to consider what the company does, how far along its pipeline is, and what its financials are. These three factors will all contribute to being able to produce a broader picture of what a company does. With all of this in mind, the choice is yours whether TCRT stock is worth buying or not.
Can Penny Stocks Make a Comeback?
With so much bearish sentiment in the stock market right now, it is difficult to make money with penny stocks or blue chips. But, those who are able to read charts and find value despite the massive volatility, are at a major advantage.
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So, understand exactly what is going on in the stock market and learn how to use that to your benefit. Considering all of this, do you think that penny stocks can continue to climb despite the broader market dropping?
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