3 Penny Stocks to Add to Your Watchlist Right Now
With 2021 ending just as quickly as it started, penny stocks continue to show potential. Although the last few weeks have been quite up and down as a result of the Omicron variant, in the past day or two, we’ve seen renewed bullish sentiment for both penny stocks and blue chips.
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Now, to understand how to trade penny stocks, investors need to have a consistent strategy and bank of research to work off of. If you’ve bought or sold penny stocks in the past six months, you’re also likely used to the extremely high volatility that we’ve witnessed during that time. While volatility can be scary for those without the proper tools, for those that do know how to trade penny stocks, it can be a major benefit. As stated earlier, the major market catalyst right now is the pandemic, and specifically, the Omicron variant.
While this has been the case for the past two weeks, we are just beginning to see volatility and fear curtail. So, while we are no where near out of the woods just yet, there is a lot for investors to look forward to. Considering all of this, let’s take a look at three penny stocks to add to your watchlist as 2021 comes to an end.
3 Penny Stocks For Your End of 2021 Watchlist
- Sphere 3D Corp. (NASDAQ: ANY)
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Opko Health Inc. (NASDAQ: OPK)
Sphere 3D Corp. (NASDAQ: ANY)
One of the more notable penny stocks that we’ve seen in the past few months is ANY stock. With a 2.3% gain by EOD on December 23rd, shares of ANY have climbed by around 7% in the past five days and more than 121% in the past YTD period. These gains are quite substantial, and reflect the company’s positionally in the tech industry. For some context, Sphere 3D works on containerization, virtualization, and data management solutions via its broad range of tech offerings. This includes its large portfolio of brands consisting of names such as HVE ConneXions and UCX ConneXions among others. In its most recent Q3 report for 2021, the company reported a very promising quarter.
“It has been an eventful quarter and fiscal 2021 to date for the Company. We have successfully pivoted to the cryptocurrency mining industry with the purchase of our first 60,000 miners, capable of producing 6 exahash of capacity, with the company receiving confirmation that the first batch of machines will ship next week.
In addition, we have secured an agreement with Gryphon Digital Mining to have Core Scientific host and manage about 230 megawatts of bitcoin mining capacity, which covers over 71,000 bitcoin mining machines.”
The CEO of Sphere 3D, Peter Tassiopoulos
The company’s move into the cryptocurrency mining industry has helped to bring it into the forefront of the public eye. And with over $200 million in cash on its balance sheet, Sphere 3D looks well funded to take on the future. Considering this, will it be on your penny stocks watchlist moving forward?
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Another decent gainer today and a penny stock that we’ve covered numerous times recently, is PTPI stock. Today, shares of the biotech penny stock shot up by around 3% bringing its one-month gain to a staggering 89%. Despite a 12 month loss of around 20% of its value, it looks like we’re witnessing a strong bullish turnaround with the company.
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Recently, the company announced a sizable sale of over 2.1 million common shares. The goal is to raise roughly $7.5 million, which will be used to expand its offerings of men’s health products as well as for working and general corporate purposes. Only a week or two ago, the company announced positive data for its OTC label comprehension study of the erectile dysfunction drug, Stendra (avanafil).
“The label comprehension study is a key component of our plans to help expand access for STENDRA beyond the prescription model, and to make STENDRA potentially the first prescription-grade ED medication to become available over-the-counter in the United States.
While the process of gathering data to be shared with the U.S. Food and Drug Administration (FDA) continues, we are enthusiastic about our progress toward providing new hope for the millions of men suffering from this condition.”
The President of Petros, Fady Boctor
With all of this big news in mind, it’s no wonder that PTPI stock is climbing in recent trading sessions. So, whether this makes PTPI stock worth adding to your list of penny stocks to watch or not is up to you.
Opko Health Inc. (NASDAQ: OPK)
Continuing on the list of respectable gainers on December 23rd is OPK stock, which shot up by around 3.4% by EOD. This brings its five-day gain to a solid 20%. At just under $4.80 per share, OPK stock is clearly moving out of penny stocks territory. And to understand if it can, we have to take a closer look at the company. Today’s gain for OPK stock came as the company announced positive topline results from the Phase 2 trial of its RAYALDEE compound in treating symptomatic Covid-19 patients.
In the past year, biotech penny stocks with a role in treating Covid, have seen major increases in popularity. And, this seems to be the case with OPK stock right now. In the study, the company states that the repletion of vitamin D could lower the chances of infections in the upper respiratory tract, therefore, increasing the positive outcome potential for those with Covid-19. While it is hard to say what the next step will be and if/when this drug will be approved, this is an exciting prospect. So, do you think that OPK stock deserves a spot on your watchlist right now?
Which Penny Stocks Are You Watching in 2022?
With 2022 only days away, there is a lot for investors to look forward to. Now, it is difficult to assume where the future may be headed, however, many traders are excited about the next few months.
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In the past two days, we’ve seen a turnaround in the market as scientists learn more about the Omicron variant. And as a result, there is plenty of bullish momentum to take advantage of. Considering that, which penny stocks are you watching in 2022?
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