3 Penny Stocks For Your Watchlist As the Bull Run Continues
With penny stocks and blue chips seeing another bull run today, investors are excited about what the future could hold. Despite fears surrounding the Omicron variant, the Dow managed to jump to near-record highs, up 225 points or so at midday.
In addition, the Labor Department released data showing that jobless claims hit their lowest in over 52 years to around 205,000. As stated earlier, the largest impacting factor for penny stocks right now is the Omicron variant. While fears were high in the past two to three weeks, they have since calmed. This is especially true considering Merck & Co Inc. (NYSE: MRK), announcing that the FDA had approved its Covid-19 pill.
So, all of this has led to increased confidence in the stock market surrounding what the next few months could look like. In addition, however, we do have to consider that there are a lot of factors that are at play that could continue to highlight market volatility moving forward. This includes yes, the pandemic, but also high inflation and general uncertainty for the next few months. So, with all of this in mind, let’s take a look at three penny stocks to add to your watchlist as the bull run continues.
3 Penny Stocks to Add to Your Watchlist Right Now
- Pasithea Therapeutics Corp. (NASDAQ: KTTA)
- Camber Energy Inc. (NYSE: CEI)
- Aditxt Inc. (NASDAQ: ADTX)
Pasithea Therapeutics Corp. (NASDAQ: KTTA)
One of the largest gainers of the day so far is Pasithea Therapeutics Corp. By midday, shares of KTTA stock had shot up by around 36%, which is quite substantial. While no news came out today to explain this gain, the company did make an exciting announcement on Tuesday, December 21st. On Tuesday, the company stated that it has opened its second ketamine therapy clinic in the U.K.
“Through our second London clinic, we are pleased to increase access to this important therapy for patients in the U.K. with treatment-resistant mental health disorders. More than ever, new treatment therapies are urgently needed for these patients and by broadening our coverage, we can work to close the treatment gap.”The CEO of Pasithea Therapeutics, Dr. Tiago Reis Marques
This is an exciting update for the company and shows that it is working hard to continue growing. For some context, Pasithea is a biotech company working on R&D related to new treatments for a broad range of psychological and neurodegenerative disorders. This includes new molecule development and IV infusions of ketamine in both clinical and in-home settings. While this is a relatively niche market, the need for new forms of mental health treatments has continued to increase. With all of this in mind, will ADTX be on your penny stocks watchlist?
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is a penny stock that we have covered numerous times over the past few months. And as a result of its 14% gain today and major spikes throughout the past year, it remains on many investors’ radars. Today, the company announced that its shareholders had voted in favor of an increase in authorized common shares.
The increase from 250,000,000 to 1,000,000,000 will likely give the company a significant amount of capital to work with. While this is big news, we also have to consider that the oil and gas industry is heating up right now. As of midday, crude oil pushed up by around 4% to $71 per barrel.
If you’re not familiar, Camber Energy is a diversified energy penny stock that provides custom energy and power solutions. These solutions are offered to both industrial and commercial clients throughout North America. In addition, Camber reportedly has natural gas assets across the U.S. as well as an exclusive license to a patented carbon capture system.
All of this has helped to put CEI stock in front of the public eye. If all of that isn’t enough, the company is also touted as a meme stock. This means that it is popular on social media and can rise and fall as a result. Whether this makes CEI worth adding to your list of penny stocks or not is up to you.
Aditxt Inc. (NASDAQ: ADTX)
Another solid midday gainer today is ADTX stock, which climbed by over 8% before falling to a 4% or so gains by 1 PM EST. Now, it’s worth noting that we’ve covered ADTX stock plenty of times in the past few months. While no news came out today explaining this gain, there was news around a week ago that we should look into. On December 13th, the company stated that it signed into a non-binding letter of intent to acquire Point-of-Care Diagnostic Technology Development Company. This company has an exclusive license for an at-home and in-office rapid antigen test for Covid-19. Additionally, the target company has a large range of other diagnostic products that could add value to CEI in the long run.
“The potential acquisition is complementary to AditxtScore technologically and commercially, and is one of the main components to executing our growth plans in 2022. We believe that Point-of-Care rapid testing combined with our current capabilities is key to driving the transformation from reactive care to precision-driven, proactive care delivery.”The Co-Founder and CEO of Aditxt, Amro Albanna
This is big news for the company and shows that Aditxt could have a bright future if all goes according to plan. And, with Covid cases increasing once again, we see that ADTX stock is seeing a boost from the potential of this deal. With that in mind, do you think that ADTX stock is worth buying right now or not?
Are Penny Stocks Worth Buying in 2021?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from.
As a result of the sheer number of factors impacting the stock market right now, it’s likely that the sizable movement we’re seeing will continue. Considering all of this, do you think that penny stocks are worth buying in 2021 and as the year comes to an end?
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