3 Penny Stocks to Watch on the Last Day of the Year
With the last day of trading penny stocks and blue chips here and in full effect, which companies are investors watching? Well, we have to take a look at the broader stock market to fully understand the answer to that question. And right now, stocks are trading mostly flat after a week or so of high bullish interest due to the Santa Claus rally. This is characteristic of the last day of the year and has been the case many times over the last few decades.
Is the Stock Market Open Today?
While the stock market would typically be closed on this day of the year, that is not the case today. Due to NYSE Rule 7.2, which states that “unusual business conditions such as the end of a monthly or yearly accounting period” will keep the market open. Typically, we would see trading closed on either Friday or Monday when a holiday falls on a weekend, but today is an exception.
So, with penny stocks and blue chips roaring toward the new year, now is the time to find the best ones to watch. Over the past year, we’ve seen major rallies alongside sizable bear runs. However, many investors believe in the future of the stock market and that Covid could begin to subside as the Omicron variant lessens in the coming months.
While it is hard to say with certainty, we have seen the S&P 500 hit 70 record closes this year, which is no small feat. So, with all of that in mind, let’s take a look at three penny stocks to watch on New Year’s Eve.
3 Penny Stocks For Your NYE Watchlist
- Xeris Biopharma Holdings Inc. (NASDAQ: XERS)
- Medalist Diversified REIT Inc. (NASDAQ: MDRR)
- Pop Culture Group Co. Ltd. (NASDAQ: CPOP)
Xeris Biopharma Holdings Inc. (NASDAQ: XERS)
One of the bigger gainers during the trading day on December 31st so far is XERS stock. By morning trading, shares of XERS had shot up by over 19% to just under $3. In the past month, shares of XERS have pushed up by a sizable 38%, adding more than $0.80 in value. The main reason for today’s gain comes as the company made an exciting announcement at EOD on December 30th. It stated that the FDA approved its compound, Recorlev for the treatment of Endogenous Hypercortisolemia in adults with Cushing’s syndrome.
“We are thrilled with the FDA’s approval of Recorlev as a safe and effective treatment option for patients with endogenous Cushing’s syndrome. With this approval, Xeris’ experienced endocrinology-focused commercial organization can begin rapidly working to help address the needs of Cushing’s syndrome patients in the U.S. who are treated with prescription therapy.”The CEO of Xeris Biopharma, Paul R. Edick
This is great news for the company and is a clear reason behind its gain today. Considering this, does XERS stock deserve a spot on your list of penny stocks to watch?
Medalist Diversified REIT Inc. (NASDAQ: MDRR)
Another big gainer so far during trading today is MDRR stock. By late morning, shares of the REIT had climbed by a staggering 35% to just under $1.40 per share. While many large gains like this occur without news, MDRR made an exciting announcement yesterday during premarket trading.
If you’re unfamiliar, Medalist is a Virginia-based REIT or real estate investment trust. It works in the acquisition and management of commercial real estate. The company stated that it has approved a program that will effectively allow management to purchase up to 500,000 shares of common stock at a max price of $4.80 per share.
“In addition to continuing to deploy capital for investment property acquisitions, we want to be able to buy back shares when our own financial position and market conditions permit. The Company’s decision to authorize a share repurchase program at this time should signal the conviction that our Board and management have in the Company’s strategy.”The CEO of MDRR, Thomas E. Messier
Now, despite MDRR’s less than stellar yearly performance, the company has seen bullish interest recently. With that in mind, will it be on your penny stocks watchlist moving into the new year?
Pop Culture Group Co. Ltd. (NASDAQ: CPOP)
Today, shares of CPOP stock shot up by around 9% to just over $3.15 per share. We’ve covered CPOP stock numerous times in the past month or so. And in the last five days, shares of CPOP stock have shot up by a very sizable 87%. A few weeks ago, the company announced the launch of a redesigned website featuring its branding elements, and much more.
“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, Mr. Zhuoqin Huang
If you’re not familiar, Pop Culture Group works in the promotion of hip-hop and cultural exchanges through events, corporate marketing services, and much more. While it is highly volatile, we are seeing large speculative gains with CPOP stock right now. Whether that’s enough to make it worth buying or not is up to you.
Which Penny Stocks Are on Your 2022 Watchlist?
If you’re looking for penny stocks to buy in 2022, there is a large range of options to choose from. But, because of the sheer number of penny stocks on the list, investors need to be picky, and understand exactly what is going on in the stock market.
Right now, this includes the Omicron variant first and foremost, as well as economic issues in the U.S. While the start of a new year is exciting, it is also a time to rethink our trading strategies and understand exactly how to make money with penny stocks in 2022. Considering all of this, which penny stocks are on your watchlist for the new year.
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