Are These Trending Penny Stocks Worth Watching Next Year?
Finding trending penny stocks is one of the best ways that investors can have a chance at making money with small caps. But, just because certain penny stocks are trending doesn’t mean that they are worth buying.
Now, as 2021 ends, there are plenty of ways to find penny stocks that are trending. This includes looking online at outlets such as Reddit, Twitter, and others. While social sentiment may not have been important only a year ago, now, it is a major cause behind movement with either penny stocks or blue chips. But, investors should keep in mind that when penny stocks are trending, they tend to move frequently, resulting in large intraday price swings. This means that traders can lose money just as quickly as they made it. So, keeping a close eye on what is going on in the stock market and how to take advantage, will be a major asset to your trading.
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In addition, understanding how certain factors will impact both the stocks on your watchlist and the industries you’re interested in, will also give you the best chance at making money with penny stocks. As we continue to barrel toward the end of the year, there are plenty of factors to keep track of with the stock market. With that in mind, let’s take a look at three trending penny stocks to add to your watchlist right now.
3 Trending Penny Stocks to Watch Right Now
- Inspira Technologies Oxy BHN Ltd. (NASDAQ: IINN)
- Reliance Global Group Inc. (NASDAQ: RELI)
- Gevo Inc. (NASDAQ: GEVO)
Inspira Technologies Oxy BHN Ltd. (NASDAQ: IINN)
While no news came out that is responsible for IINN’s 24% rise in the past five days, it’s clear there is a sizable amount of bullish sentiment behind the company. Before we go into the recent news surrounding IINN stock, it’s worth understanding what the company does. For starters, Inspira Technologies is a medical device company that is focused on respiratory care. Of course, there is a clear tie between this work and the pandemic.
Right now, the company is in development of an artificial lung device known as the ART, which is for use in those with deteriorating lungs. This could minimize the need for mechanical ventilation, which has become a major issue in the past two years. A few weeks ago, the company announced that it signed a strategic agreement with Innovimed for the deployment of 1,522 ART systems in several countries across Europe. The deal, which could be worth roughly $108 million over a 7-year period, is big news for investors and is likely causing the recent moves with IINN stock.
“Poland, Czech Republic and Slovakia are very interesting markets for Inspira’s ART device. The extracorporeal membrane oxygenation (ECMO) program for Greater Poland’ takes full advantage of the ECMO perfusion therapy opportunities to promote the health of citizens in the region.”
The CFO of Inspira, Joe Hayon
With this exciting news in mind, does IINN deserve a spot on your list of penny stocks to watch?
Reliance Global Group Inc. (NASDAQ: RELI)
One of the bigger gainers of the day so far is RELI stock, which managed to shoot up by over 20% at midday. If you think that is substantial, in the past five days, shares of RELI stock have climbed by more than 88%. This has brought it technically out of penny stocks territory if we consider today’s gain. So, why exactly is RELI stock moving right now?
Well, with no news coming out of the company today, we can look at an announcement made at the end of last week. The company stated that it engaged in a $20 million private placement with institutional investors. The agreement, which priced shares at around $4.09, should offer the company the capital to fund the recently announced acquisition of Medigap. In addition, it will be able to continue marketing activities related to its 5MinuteInsure.com company.
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Obviously, the funding itself is big news for the company, however, the acquisition is what investors seem to be interested in. And while it is too soon to say what the full outcome of this will be, it is an exciting prospect. Whether this makes RELI stock worth adding to your penny stocks watchlist or not is up to you.
Gevo Inc. (NASDAQ: GEVO)
At just under $5 per share, GEVO stock is teetering at the penny stock mark. And with a YTD gain of roughly 13.6%, investors are keeping a close eye on the company right now. If you’re not familiar with Gevo, it operates in the renewable energy sector.
The company focuses on turning carbon and renewable fuel sources into liquid hydrocarbons. These can then be used as normal fuel for vehicles such as cars and jets. In the past few weeks, Gevo has been focused on adding new personal such as Staci Bogue-Bucholz as its Site and Process Optimization leader and Lisa Walker as its new Assistant General Counsel.
Outside of this, we also have to consider that there is a major amount of emphasis on the renewable energy market right now. And, many investors are showing bullish interest in the long-term future of this market. So, this could help to explain the recent bullish sentiment with GEVO stock. And, the new additions to its team help to show that the company is working hard to continue growing. With all of that in mind, do you think that GEVO stock is worth buying right now or not?
Which Penny Stocks Are on Your Watchlist As 2021 Ends?
While finding trending penny stocks to buy can be challenging, there are plenty to choose from. As a result of the sheer amount of trending penny stocks out there, investors need to be sure to do the proper research into the stocks they are interested in.
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Right now, there are also a long list of factors that are impacting the stock market. And, all of these should be taken into account for investors. So, as we continue to barrel through 2021 and right into 2022, which penny stocks are on your watchlist right now?
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