3 Top Penny Stocks to Watch Under $3 Right Now
As the year comes to an end, we are still in the midst of a Santa Claus rally for penny stocks and blue chips. While the rally has calmed down with the stock market flat during today’s trading so far, the end of the year has been a stellar time for investors. When it comes to penny stocks, there are a few things that all traders should keep in mind. For starters, we have to consider the trajectory of the pandemic and the Omicron variant.
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While cases are still rising globally, it appears as though we have a better understanding of the variant than we did only a month ago. And this has resulted in fear in the market subsiding to a degree. With the severity of Omicron less than previous variants, many believe that this is the way that Covid could become endemic. So, there is some bright news among the otherwise bad news surrounding the pandemic.
With penny stocks, we tend to see any and all news have a material effect on trading. This means that if you wish to make money with penny stocks, you need to stay as up-to-date as possible on all the latest news and events. With all of that in mind, let’s take a look at three penny stocks to watch under $3 right now.
3 Under $3 Penny Stocks to Watch in 2022
- Pop Culture Group Co. Ltd. (NASDAQ: CPOP)
- SeaChange International Inc. (NASDAQ: SEAC)
- Orchard Therapeutics plc (NASDAQ: ORTX)
Pop Culture Group Co. Ltd. (NASDAQ: CPOP)
One of the bigger gainers of the day so far is CPOP stock, pushing up by over 17% during morning trading. This brings its five-day gain to a staggering 69%, which is no small feat. Despite a YTD drop of over 90% in value, right now, we’re witnessing a sizable bullish turnaround. While it’s difficult to say how long this bull run will last, right now, it’s worth looking into. So, what does Pop Culture Group do?
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Well, the China-based company works to promote hip-hop culture via entertainment events, online programs, event planning, and marketing services. In the past few years, the company has also begun to produce its own hip-hop events. While no news is sparking CPOP’s gain today or yesterday, we can look at what the company has announced recently. A few weeks ago. CPOP announced the launch of its new and redesigned website.
“The new website will update more detailed information about our company, including our key intellectual properties, operating data that highlight our key achievements over the years, and the three core business groups following our structure upgrade as well as our latest news, allowing visitors to understand our company more intuitively.”
The CEO of Pop Culture Group, Mr. Zhuoqin Huang
So, while CPOP stocks recent gains are highly speculative, it is still worth taking a closer look at. With that in mind, will CPOP stock be on your penny stocks watchlist?
SeaChange International Inc. (NASDAQ: SEAC)
SeaChange International is a penny stock that has shot up by over 100% in the past month. This brings its one-year gain to a sizable 62% or so. While SeaChange has had a rough year prior to the past month or so, recent announcements have helped to usher in a new era of popularity for the company. A few weeks ago, news came out showing that the short video app known as Triller, would go public through a reverse merger with SeaChange. Early estimates value the new entity at close to $5 billion. After the merger is complete, the new company will be known as TrillerVerz Corp.
“We believe TrillerVerz is becoming the voice of youth culture, a brand that sits at the nexus of content, creator, commerce, and culture in the digital world. Our strategy is to continue to build the world’s largest stage for creators to distribute and monetize viral and engaging content with experiences that elevate culture.
We believe that combining with SeaChange accelerates our advertising and marketing capabilities by extending our reach to cable, satellite, and OTT media.”
The CEO of Triller’s Parent Company, Mahi de Silva
This is big news especially as competitors like TikTok continue to see record growth and adoption by the public. Considering all of this, does SEAC stock deserve a spot on your list of penny stocks to watch?
Orchard Therapeutics plc (NASDAQ: ORTX)
Another big gainer of the day so far is ORTX stock, pushing up by over 11% during morning trading. Before we get into what ORTX does, it’s worth looking into why shares of the company jumped today.
The main reason comes as Cantor Fitzgerald analyst, Pete Stavropoulos, covered the company with an Overweight rating and a price target of $9. While this is down from the previous target of $12, the analyst still believes that the company has a lot to offer. In the gene-therapy industry, Orchard offers a potentially de-risked pipeline that could add value in the coming year. While regulatory road blocks continue to be the main source of risk with ORTX stock, this is common amongst all biotech stocks.
Last month, the company announced its proof-of-concept study for OTL-203 in those with Hurler Syndrome. The study data was encouraging and while it is early on, the compound still met primary endpoints. While ORTX stock is highly volatile, it does look like the company could have a lot to offer. Whether this makes it worth watching or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for 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, there is also a lot to keep track of for investors of all types.
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As stated earlier, penny stocks tend to be highly volatile. Because of this, staying up to date with all the latest news and events is crucial. With that in mind, which penny stocks are you watching right now?
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