Are These Top Penny Stocks on Your Watchlist Right Now?
With the first week of December coming to a close, penny stocks continue to see high potential. Although the Omicron variant of Covid-19 has clouded the gains that we were seeing last month, many investors are excited about the future. To understand the potential that penny stocks can have, investors need to have a thorough understanding of what’s going on in the stock market and how to use that as an advantage.
With that, those who trade penny stocks can begin to form an idea of which industries may be worth investing in, and which are not. In additions having a thought-out trading strategy will be a major benefit to your profitability as an investor. And with so much going on in the stock market, consistency is key to seeing gains. Considering all of this, let’s take a look at three penny stocks to watch in early December.
3 Penny Stocks to Watch In Early December
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Denison Mines Corp. (NYSE: DNN)
- Ault Global Holdings Inc. (NYSE: DPW)
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Petros Pharmaceuticals Inc. is a biotech penny stock that’s gained more than 30% in value in the past five days or so. After a major spike, shares quickly corrected on December 1st. If you’re not familiar, this company primarily creates men’s health therapeutics in the United States. Currently, Petros is working on the commercialization and development of Stendra. Stendra is a prescription medication for treating erectile dysfunction. Additionally, the company commercializes and develops H100 for treating acute Peyronie’s disease.
On November 15th, the company reported its third-quarter financial results for 2021. During this period, its prescription and tablet sales reached new record highs for STENDRA. Its total STENDRA mg sold in this quarter increased 6% quarter over quarter. Although these results are positive, Petros reported lower net sales overall year over year. Its STENDRA net sales went down 47% year over year in this quarter because of higher sales allowances and higher discounts.
Overall, its prescription medications segment gross sales went up 46% quarter over quarter. Despite this, there is a major amount of bullish sentiment in the biotech industry right now. While this is not the main reason for PTPI stocks growth in the last few trading days, it could be a contributing factor.
“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 Chief Commercial Officer of Petros, Fady Boctor
With major price movement continuing to occur with Petrios, will PTPI be on your list of penny stocks to watch?
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a mining penny stock that has climbed by more than 120% and almost 300% in the past YTD and one year periods. These are substantial gains and reflect both the bullishness on mining and Denison’s work as a company. For some context, Denison is a uranium exploration company established in Canada. The corporation is involved in the development of uranium assets in the Athabasca Basin region of northern Saskatchewan. This is the location of the Wheeler River uranium project, of which Denison controls 95%.
Denison released its third-quarter 2021 results on November 4th. The business concluded its 2021 ISR field test program at the Phoenix uranium mine successfully. Phoenix has now moved to the feasibility study stage, and Wood PLC will be the study’s primary author. Denison also finalized the acquisition of 50% of JCU from UEX Corporation in August for a cash consideration of $20.5 million.
“With increased interest in the uranium market and a recent lift in both spot and long-term uranium prices, we are encouraged that future utility customers are returning to the market and looking at Denison’s Wheeler River project as a potentially viable source of reliable and low-cost future supply.”The President and CEO of Denison, David Cates
In 2021 so far, DNN stock has gone from under $0.80 per share to over $1.50 per share as of the beginning of December. Keeping this in mind, will DNN be on your penny stocks watchlist?
Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings Inc. is a holdings company that is involved in the acquisition of a range of businesses in different industries. This includes those in power system solutions design, Bitcoin mining and everything in between. The company works in broader industries such as medical and military, industrial, aerospace, defense, and more. Ault currently offers power supply, power conversion, and distribution equipment. These items are available for purchase both directly and through distributors. In addition to this, Ault owns and operates a data center that mines Bitcoin and provides mission-critical products.
On November 29th, the company’s subsidiary TurnOnGreen announced that it has achieved a new partnership. TurnOnGreen partnered with The Alisal Guest Ranch and Resort to expand its commercial EV charging capabilities for resort guests and visitors. The company will start a multi-phase electric vehicle charger installation plan this December. This will begin with the installation of EVP700G level 2 EV charging stations in the resort’s guest parking area.
“We are excited to be integrated into the Alisal resort and provide their guests and visitors access to simple EV charging solutions that will help promote zero-emission travel to the property. As we expand our commercial charging programs throughout North America, TurnOnGreen will continue to facilitate the rapid adoption of zero-emission vehicles, helping to create a brighter future for the planet.”The Chief Revenue Officer of TurnOnGreen, Marcus Charuvastra
While DPW stock has not been performing too well, updates like these show that the company still has a lot in its pipeline. Noting this new advancement, will DPW stock be on your December watchlist?
Are Penny Stocks Worth Buying Right Now?
While it is difficult to answer this question with certainty, there are plenty of penny stocks out there for investors of all types. Because of this, it all comes down to understanding where to look, and what type of trader you are. With all of this in mind, do you think that penny stocks are worth buying right now?
Read More On PennyStocks.com