Are These 3 Penny Stocks Worth Watching Right Now?
After another interesting day of trading penny stocks, there is still money to be made. As we continue to see in the markets, there are plenty of penny stocks worth buying. And although volatility is at an all-time high, those with the right information on hand can have a much easier time profiting.
Right now, it is all about understanding what factors are at play and how to take advantage of them. And in May 2022, we have a few things that are impacting the market substantially. This includes rising inflation, climbing interest rates, Covid cases increasing, and news relating to Monkeypox. All of this has traders on their toes, but it also creates opportunities.
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As stated earlier, there are numerous ways to make money with penny stocks. But, without an understanding of what is going on in the stock market, it can be easy to get caught up in the frenzy and lose money.
So, before you start buying penny stocks, make sure you know what is going on in the market and ensure that you have a proper trading strategy. This will help you immensely when it comes to profiting from your investments. So, with all of this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks That Are Outperforming the Market Right Now
- Better Therapeutics Inc. (NASDAQ: BTTX)
- Zovio Inc. (NASDAQ: ZVO)
- Invesco Mortgage Capital Inc. (NYSE: IVR)
Better Therapeutics Inc. (NASDAQ: BTTX)
At EOD on May 24th, shares of BTTX stock had shot up by a staggering 69%. This major gain brings it to over $2.19 per share, which represents a one month gain of over 80%. To understand why shares of BTTX stock are climbing right now, we have to take a closer look at the company.
Despite there being no news to back this gain for the company today, we can look at its most recent financial report which came out around a week or so ago. In its Q1 2022 financials, the company posted several positive results regarding its pipeline such as those from BT-001, and more.
“Better Therapeutics has made significant progress in advancing the clinical development of its first-in-class digital therapeutic platform for the treatment of cardiometabolic diseases.
Our pivotal trial of BT-001, evaluating the use of nCBT for the treatment of patients with uncontrolled type 2 diabetes achieved its primary endpoint, supporting the filing of a de novo classification request with the FDA for potentially the first ever PDT in this widespread indication.”
The CEO and Co-Founder of Better Therapeutics, Kevin Appelbaum
This is all very exciting news and should bring in even more positivity for BTTX stock. Considering that, will it be on your list of penny stocks to watch or not?
Zovio Inc. (NASDAQ: ZVO)
Another decent gainer on May 24th is ZVO stock. At EOD, shares of ZVO managed to shoot up by over 5.3%, which is no small feat. And, in the past five days, we’ve seen shares of ZVO stock climb by more than 10.3%. The big news for the company came as it announced that it could be selling its TutorMe subsidiary for $55 million. The company states that the deal closed on May 23rd, and it immediately has access to capital from the sale.
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Back in 2019, Zovio purchased TutorMe for $2.8 million, which shows just how substantial this deal is for the company. And, with $7.4 million in losses in its annual revenue for the period ended March 31st, this deal is encouraging. With all of this in mind, do you think ZVO stock is worth adding to your penny stocks watchlist right now?
Invesco Mortgage Capital Inc. (NYSE: IVR)
IVR is a penny stock that we have discussed numerous times in the past few months. And today, we saw some slight bullish sentiment with the company, climbing by around 1.1% at EOD. With a 40% YTD drop, there is a lot left to be desired with IVR stock.
But, with this small bullish sentiment, it’s worth taking a closer look at the company. To understand whether IVR stock is worth buying, we have to look at the most recent news from the company. On May 4th, it announced its financial results for the quarter ended on March 31st. In the results, the company announced a net loss of $0.72 compared to $0.12 in the quarter prior.
“During the first quarter of 2022, earnings available for distribution increased to $0.12 per common share. Slower prepayment speeds on specified pool collateral, attractive returns in the dollar roll market, and attractive yields on new investments were all supportive of earnings available for distribution.”
The CEO of Invesco, John Anzalone
So, while IVR is highly volatile, it is an interesting penny stock to keep an eye on. With that considered, IVR could be worth keeping an eye on.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, there are plenty to choose from. But just because a stock is cheap, doesn’t mean it’s a good investment. In order to make money from penny stocks, you need to find the right ones to invest in. This process involves researching the company, its financials, and the overall market conditions.
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When it comes to penny stocks, there is a lot of misinformation out there. Some people will tell you that they’re a great investment, while others will say that they’re a huge gamble. So, always make sure that you yourself know the in-depth numbers that a company is putting out. With that in mind, which penny stocks are you watching right now?
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