3 Penny Stocks For Your Watchlist Next Year
As we move closer toward the end of the year, trading penny stocks and blue chips can be difficult. With the high level of volatility we’re witnessing in the stock market, there is a lot of factors that investors need to keep track of. For one, the recent rise of Omicron-related Covid cases has brought on major market fluctuations.
In addition, we have to contend with issues such as inflation, new monetary policy, and so on. While there is not one single factor that is responsible for the movement we’re witnessing, it seems to be an amalgam of everything at once. Because of this, knowing exactly how these factors will affect your portfolio, is the best way to stay ahead with penny stocks. In addition, having a consistent and well-defined trading strategy can easily mean the difference between profits and losses.
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If you’ve been trading penny stocks in the past year or so, you’re likely used to the large market fluctuations we’re witnessing right now. So, stay as up-to-date as you can and understand what is causing movements in both the broader stock market and your portfolio. Considering all of this, let’s take a look at three penny stocks to watch in January 2021.
3 Penny Stocks to Watch in January 2021
- Camber Energy Inc. (NYSE: CEI)
- Farmmi Inc. (NASDAQ: FAMI)
- Progenity Inc. (NASDAQ: PROG)
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is an oil and gas penny stock that we have highlighted in recent months due to its popularity in the market and trending nature. If you’re not familiar, Camber Energy develops and sells crude oil, natural gas, and natural gas liquids. The company’s total estimated proved reserves as of March 31, 2020, were 133,442 barrels of oil equivalent. In the past six months, shares of CEI stock have shot up by almost 50%. While it is no where near its September high of almost $4, shares have been climbing in recent months.
Camber’s majority-owned subsidiary Viking Energy Group Inc. recently inked a Membership Interest Purchase Agreement on December 2nd. This agreement asks for the purchase of 100% ownership in a group of companies working on a processing plant in Reno, Nevada. The group of companies is constructing, engineering, developing, and preparing to put the facility into commercial use.
Camber states that the plant’s production capacity is expected to be around 43 million gallons per year once it is operational. This plant will make renewable diesel, a biofuel that is chemically equivalent to petroleum diesel fuel. In the past few days, we’ve seen several signs of bullish price action with CEI stock. And as mentioned above, around six months ago, CEI stock price was around $0.75 per share. Now on the 16th, its stock price has reached $1.02. Noting this upwards trend and recent information, will CEI be on your list of penny stocks to watch?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. produces and sells edible fungi products in a number of countries. Shiitake mushrooms, bamboo fungus, and Mu Er mushrooms are among its many products. These commodities are sold to restaurants and wholesalers worldwide. In the past year or so, FAMI has not had an easy time with Covid hindering operations. However, in the last few weeks, we’ve seen much greater popularity with FAMI stock.
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As mentioned above, Farmmi has been working to sign several new export deals. The company continued this trend on December 13th, when it announced another one. The company’s subsidiary Zhejiang Farmmi Biotechnology Co. Ltd. won another order for its dried shiitake mushrooms. The customer who purchased these mushrooms is located in Dubai, where the products will be distributed to.
“Our team has done an excellent job this year overcoming adverse conditions as we further expand both domestically and internationally. We continue to meet increased demand levels from our customers for our high-quality agricultural products, and have successfully helped our customers by delivering our orders as promised.”
The CEO and Chairwoman of Farmmi Inc., Ms. Yefang Zhang
With sizable movements in the past few weeks, will FAMI be on your penny stocks watchlist before the year ends?
Progenity Inc. (NASDAQ: PROG)
Progenity Inc. is a biotech penny stock that has recently gained value. If you’re not familiar, PROG is a company that creates molecular testing equipment. Progenity recently received acclaim for their COVID-19 PCR testing services, which have been a popular product for the company so far. Progenity also supplies genetic testing products for disorders such as Lynch syndrome. Since the end of September, shares of PROG stock have climbed by a very sizable 184%, which is one of the main reasons that so many investors are watching it right now.
Progenity disclosed a new invention for a single-molecule detecting therapy on December 2nd. The title of this patent is “Methods, Systems, and Compositions for Counting Nucleic Acid Molecules,” and it was issued by the United States Patent and Trademark Office. This invention covers crucial methods for counting target molecules, which eliminates the requirement for sequencing. The company presently has a significant patent portfolio relating to its single-molecule detection platform.
“Our Single-Molecule Detection Platform is designed to enable tests such as noninvasive prenatal testing (NIPT) or liquid biopsy for cancer to be performed without the need for costly, complex sequencing, which would greatly reduce cost and simplify operational implementation. The platform also has potential applications beyond nucleic acids, such as proteins.”
General Manager of Diagnostics at Progenity, Matthew Cooper
With increased volume in the past few trading days, will PROG stock enter your watchlist this coming month?
Which Penny Stocks Are You Watching Next Year?
Although penny stocks have been highly volatile in the past year or so, there is plenty of momentum to take advantage now. While it can be difficult to make money with penny stocks given the frequent movements we’re seeing, having a strategy can help to encourage gains.
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At the end of the day, trading penny stocks is a very independent task. And for that reason, it all comes down to knowing what type of investor you are and how to use that to your advantage. With that in mind, which penny stocks are on your watchlist for 2022?
