3 Penny Stocks That Could Be Worth Watching in December
With December moving as fast as it came, there are plenty of penny stocks that could be worth watching. As we’ve stated numerous times in the past week or so, the main contributing factor to stock market volatility right now is the Omicron variant.
Although not much is known at this point, we do know that any news coming out regarding the variant, is having a major effect on how penny stocks are trading. And as a result, staying up to date with all the latest news surrounding the variant will give you the best chance at making money with penny stocks. Aside from this, we also have to consider factors such as inflation and other aspects that are impacting the stock market at large.
Because penny stocks are so volatile, any news or events that come out can have a major and material effect on how companies trade. With all of this in mind, let’s take a look at three penny stocks that could be worth watching in December 2021.
3 Penny Stocks to Add to Your December 2021 Watchlist
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Amarin Corporation plc (NASDAQ: AMRN)
- uCloudlink Group Inc. (NASDAQ: UCL)
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Petros Pharmaceuticals Inc. is a biotech business based in the United States that develops men’s health treatments. Petros is focused on the commercialization and development of Stendra. Stendra is a prescription drug used to treat erectile dysfunction. Furthermore, the company commercializes and develops H100 for the treatment of acute Peyronie’s disease. Right now, there is a sizable amount of momentum with biotech penny stocks. This is the result of a major focus on the industry due to the pandemic. While Petros does not manufacture a Covid-related treatment or cure, the company is a decent-sized player in the biotech market.
The corporation released its third-quarter financial results for 2021 on November 15th. STENDRA prescription and tablet sales reached new highs throughout this period. Its total STENDRA mg sales grew by 6% year on year in this quarter. Despite these encouraging results, Petros reported reduced net sales year over year.
“Petros continued its momentum during the third quarter with the number of prescriptions and tablets hitting record levels. The demand for STENDRA® continues to be strong with total milligrams sold (total milligrams of all tablets sold, including 50mg, 100mg, and 200mg) increasing 6% over the prior quarter.”President and CCO of Petros, Fady Boctor
In other recent news, the company just closed a $10 million offering. The proceeds of the net offering are expected to be used to expand its men’s health platform, and for working capital and corporate purposes. From November 22nd to November 29th, shares of PTPI stock skyrocketed by over 200%. Although it has corrected since then, there’s no doubting the popularity that the company received as a result. Noting these recent advancements, will PTPI be on your list of penny stocks to watch?
Amarin Corporation plc (NASDAQ: AMRN)
Amarin Corporation plc is a biotech company that creates therapeutics for treating various cardiovascular diseases. The company is currently developing VASCEPA, which is for treating people with severe hypertriglyceridemia. These products are sold to wholesalers and specialty pharmacy providers.
On November 16th, the company reported an overview of its latest clinical research. This report included research evaluating VASCEPA/VAZKEPA and eicosapentaenoic acid. The report was presented at the American Heart Association Scientific Sessions 2021. VASCEPA / VAZKEPA was found in prespecified and post hoc analyses to reduce total ischemic events by 32% in patients that had prior PAD. This is highly positive data and could be good news for the company moving forward.
“We are committed to serving patients with cardiovascular (CV) disease and the data presented at this year’s AHA annual meeting provide further evidence of the CV benefits of VASCEPA/ VAZKEPA in specified high-risk patients, potentially including those with peripheral artery disease”.The President and CEO of Amarin, Karim Mikhail
Based on this new report and the aforementioned bullishness on biotech right now, will AMRN be on your penny stock watchlist?
uCloudlink Group Inc. (NASDAQ: UCL)
uCloudlink Group Inc. is a communications penny stock up over 17% on December 3rd. This company operates a mobile data traffic sharing marketplace. Its uCloudlink 1.0 technology is focused on cross-border travelers seeking mobile data connectivity. It also operates portable Wi-Fi services under the Roamingman brand. More of its products include uCloudlink 3.0, GlocalMe, and uCloudlink 2.0.
On November 30th, uCloudlink released its third-quarter financial results for 2021. The company’s total revenue went up to $19.3 million compared to $18 million last year. This 7.4% increase was very good for uCloudlink’s business. uCloudlink Group also managed to lower its loss from operations year over year as well. Additionally, the company’s net loss was lower during this period too.
“We continued to demonstrate commercial resilience and business vitality in the third quarter of 2021 despite the ongoing impact of COVID-19, generating revenue of US$19.3 million, with a 7.4% increase from the third quarter of 2020. The increase in our total revenues is a strong indication that UCLOUDLINK is well-positioned to grow in the short-term due to our continuous efforts in expanding our platform-centric business, and in the long term as we believe that international travel restrictions will be lifted in the future.”CEO and Director of uCloudlink, Chaohui Chen
In addition to the heavy focus on biotech penny stocks, there is also a major emphasis on the tech industry as well. While this may not be the only reason that UCL is rising right now, it’s likely a contributing factor. Whether this makes UCL stock worth adding to your penny stocks watchlist or not is up to you.
Are Penny Stocks Worth it In December?
If you’re making a list of the best penny stocks to buy right now, there are hundreds of options to choose from. But, just because there is a long list of penny stocks out there, does not mean that all of them are worth it.
Rather, investors need to do their own due diligence and research to find penny stocks that align with their trading strategy and threshold for volatility. Considering all of this, do you think that penny stocks are worth it in December?