3 Penny Stocks to Add to Your Watchlist in 2022
As 2021 comes to a close, there are plenty of factors for penny stocks investors to consider. At the top of the list right now and in the past two years, is the pandemic. This has been the main cause of movement in the stock market during that time. And with the Omicron variant continuing to wreak havoc on world markets, it doesn’t look like it will be changing anytime soon.
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But, some investors believe that this more contagious and less severe variant could be the way that the pandemic comes to an end. And while it is tough to say with certainty, there is a lot of hope regarding the future. With penny stocks, investors have to recognize that speculation is extremely high. While this is not a bad thing, it is a major factor to consider.
As a result of this high speculation, prices tend to fluctuate greatly in a given trading day or week. And because of this, staying up to date with what’s going on in the stock market is the best way to have a high chance of making money with penny stocks. So, considering all of this, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch Right Now
- Flotek Industries Inc. (NYSE: FTK)
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- Bright Health Group Inc. (NYSE: BHG)
Flotek Industries Inc. (NASDAQ: FTK)
Up by around 6.3%, today are shares of FTK stock. With a five-day gain of a staggering 103%, it seems as though shares of FTK stock are beginning to push up once again following a YTD drop of around 36%. While it’s hard to say why Flotek is seeing bullish momentum right now, we can look at its most recent announcements to try and determine a reason.
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The main reason for its gain today comes as news dropped regarding a potential buyout of part or all of the company. Flotek stated that it has now hired Piper Sandler to be its financial advisor during the process. While there is no definitive time as to when this will occur, the news has sparked major investor interest. This also comes only a few weeks after the NYSE notified the company of it not meeting listing requirements. Now, it needs to work to keep its price above $1 per share for over 30 consecutive trading days.
If you’re not familiar with Flotek, it creates a range of solutions for reducing the environmental impact of energy. This includes tech to maximize hydrocarbon streams as well as new green chemistry products. All of this has helped to bring heightened investor awareness to Flotek. Considering all of that, will FTK stock be on your penny stocks watchlist moving forward?
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
Another sizable gainer during trading today is AVCT stock, pushing up by almost 8% at midday. In the past month, shares of AVCT have shot up by a very solid 47%, indicating sizable bullish interest in it. Despite a 60% loss in the past six months, there is a clear turnaround for AVCT shares that has occurred in the last few weeks. If you’re wondering why, the company’s business unit, Kandy Communications, recently announced growth regarding its partnership with Etisalat, a large telecom company.
“It’s been a privilege to work so closely with the visionary team at Etisalat. Our platform is driving digital transformation for Etisalat’s business customers in the Middle East, providing easier, faster, and higher quality communication solutions that keep business moving forward.”
The President of Kandy, Chuck Canton
This is an exciting announcement, and shows just how hard AVCT is working to keep its business going. Aside from this, the company offers a wide array of IT solutions. This includes those who use in cybersecurity, connectivity, and much more. In the past year or so, the tech market has grown substantially. This could be another reason why AVCT stock is growing right now. So, as we move toward the new year, is AVCT stock worth adding to your list of penny stocks to buy right now?
Bright Health Group Inc. (NYSE: BHG)
Moving into the health industry, we see Bright Health Group, which has been moving up during several recent trading sessions. In the past month, shares of BHG stock have pushed up by over 4% despite an almost 80% loss in the YTD period. Recently, the company announced an updated guidance on its expected revenue for 2022.
The company stated that its NeueHealth segment alongside its Bright HealthCare, could see revenue of over $6.3 billion in 2022. This would represent a 54% increase in its expected revenue for this year. While profitability is not yet on the table, it plans to report $4.1 billion in revenue for 2021. Now, the company is focused on continuing to grow with 42 new markets expected to be a part of it by the end of 2022. And, only a few weeks ago, the company announced a $750 million capital investment from industry experts, Cigna Ventures, and others.
All of this is very positive news for the company, and considering it is down from its June high of almost $18, it could be worth looking into. While it is hard to deduce exactly what will happen with BHG stock in the next year, investors are excited about the future of the company. Considering this, will it be on your watchlist in the next few months?
Can Penny Stocks Continue to Be Profitable in 2022?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. And although it can be difficult to make money with penny stocks at times, the potential for profitability is high with the right strategy.
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Investing in penny stocks takes not only a dedicated trading strategy, but a strong understanding of how the market is moving and why. Because of this, staying up to date with all the latest news and events, will be a major benefit to you. Considering all of this, do you think that penny stocks can continue to be profitable in 2022?
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