Are These Trending Penny Stocks On Your Watchlist Right Now?
If you’re looking for trending penny stocks to buy, there are hundreds to choose from. In the last year or two, we’ve seen the phenomenon of trending stocks result in large double or even triple-digit percentage gains. While this is not an everyday occurrence, we do see gains like these often.
As a result, finding and investing in trending penny stocks can be a great way to make money with small caps. It’s worth understanding, however, that trending penny stocks are typically, highly volatile. Because of this, staying up to date with the latest news and events as it related to investing, will be a major benefit. In addition, one of the most important steps to making money with penny stocks is having a proper and well-thought-out trading strategy.
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Usually, this falls into one of two categories; short or long term. But, knowing your threshold for risk and what type of investor you are will ultimately be a major asset to your investing. Right now, we have to also consider that the pandemic is not over. While we could be moving in a positive direction, the Omicron variant is still wreaking havoc. So, with this wide breadth of information to take in, let’s take a look at three trending penny stocks to watch in January 2022.
3 Trending Penny Stocks to Watch Right Now
- Farmmi Inc. (NASDAQ: FAMI)
- Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI)
- Denison Mines Corp. (NYSE: DNN)
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a company that we have covered numerous times in the past few months. And, there are a few good reasons for that. For one, shares of FAMI stock have been increasing during several recent trading sessions. This includes a more than 8% gain on January 4th. And while FAMI stock is highly speculative, at its current price, many investors believe that the company could have forward value.
At the end of December, the company announced continued sales growth for its subsidiary, Zhejiang Farmmi Biotechnology Co. Ltd. The company stated that this subsidiary received a repeat product order for dried mushroom slices to Southampton, England.
“This is another important win for us. It continues the meaningful sales growth trajectory we have been building all year as we leverage our increased investments in sales and marketing to build our global brand, and it also benefited from our consistent product availability due to our strong supply chain relationships.”Ms. Yefang Zhang, the CEO and Chairwoman of Farmmi
While it is hard to say with certainty what the long term effect of this will be, we know that there is a lot of positivity with FAMI stock right now. Considering all of that, does it deserve a place on your list of penny stocks to watch?
Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI)
Spectrum Pharmaceuticals is another penny stock that has been on many investors radars in the past few months. While shares of SPPI stock have dropped by over 58% in the past year, were are seeing a slight bullish turnaround right now. On January 4th, the company announced an exciting update. It stated that Hanmi Pharmaceuticals invested roughly $20 million in the company in an equity purchase agreement for $1.60 per share.
“Following a recent meeting in Korea with Spectrum management, we wanted to make this investment as a symbol of our confidence in their strategic direction moving forward. We view our collaboration with Spectrum as a key driver of our future growth and an integral part of bringing Hanmi’s novel molecules to the U.S. market.”The CEO of Hami Pharmaceuticals, Se-Chang Kwon, Ph.D.
This is highly positive news for both companies and could add a substantial amount of capital into Spectrum’s pipeline. While it is hard to say whether this will result in bullish sentiment in the long term, we are seeing heightened popularity for SPPI stock right now. Whether this makes it worth adding to your penny stocks watchlist or not is up to you.
Denison Mines Corp. (NYSE: DNN)
Denison Mines Corp. is a uranium mining company that has been extremely popular with traders in the past year or so. It currently operates in both the exploration and development of uranium mines in the Athabasca Region in northern Saskatchewan, Canada.
The company states that it has a 95% interest in the Wheeler River Uranium Project, which is its main asset right now. However, it is also working on the McClean Lake joint venture and several others. In addition to this, the company has a 50% ownership of JCU which gives it more exposure to the uranium industry as a whole. A few weeks ago, the company announced that it had approved the adoption of an Indigenous People’s Policy.
“I believe Industry has an important role to play in acknowledging, and building awareness of, the history of Indigenous people in Canada and the critical importance of pursuing the objectives of reconciliation. As such, the adoption of an Indigenous Peoples Policy is a notable step in our Company’s journey to bring reconciliation to the forefront of what we do and how we do it.”The CEO of Denison, David Cates
With all of this excitement in mind and the positivity surrounding uranium right now, DNN stock could be worth keeping an eye on moving forward.
Which Penny Stocks Are on Your Watchlist Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, because of the sheer number of small-caps out there, it can be difficult to pick just a handful for your watchlist. At the end of the day, it all comes down to what type of investor you are and what your tolerance for risk is.
Additionally, if we consider the large amount of movement in the stock market right now, we also can see how to take advantage of the high volatility we’re witnessing. But again, this takes a strong commitment to knowing how to trade. Considering all of this, which penny stocks are on your watchlist right now?
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