3 Hot Penny Stocks to Add to Your Watchlist Today
With another trading day here for penny stocks and blue chips, there is plenty for investors to keep track of. Right now, we’re seeing stock futures point to a lower open as a disappointing labor report ends the highly volatile week.
However, despite the less than stellar news regarding jobs available, the unemployment rate hit a pandemic low of around 3.9%. So, while many investors expect January to remain highly volatile for penny stocks, we could see bullish action begin to move in once again. A lot depends on what happens with Covid and the Omicron variant in the next few weeks.
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While case numbers are increasing rapidly, the Omicron variant has time and time again been proven to be less severe for low-risk groups than previous variants. This means that combined with its high infection rate, we could potentially see the pandemic become endemic if all settles in the next few months.
Now no one is waiting on the edge of their seats for that to occur, however, there is a sizable amount of hope for the future. Considering that there is so much to keep track of with penny stocks, investors need to stay on their toes. With all of that in mind, let’s take a look at three penny stocks to watch as the first week of trading comes to an end.
3 Penny Stocks to Add to Your Watchlist Right Now
- Phunware Inc. (NASDAQ: PHUN)
- China Hgs Real Estate Inc. (NASDAQ: HGSH)
- Marin Software Inc. (NASDAQ: MRIN)
Phunware Inc. (NASDAQ: PHUN)
While PHUN stock had a disappointing run during premarket, it is also highly trending right now. Following its end-of-day spike on January 6th, shares are up by over 12% in the past five days. In the past six months however, PHUN stock has pushed up by a very sizable 147% to its current price of just over $3 per share.
So, why has PHUN stock increased so much in that time? Well, the recent move from Phunware comes as the company made an exciting announcement yesterday. It stated that it has two new strategic supplier relationships as well as an optimized PC series to show at the Consumer Electronics Show or CES.
“With these new strategic supplier relationships, we took the guesswork out of selecting the right personal computer systems for power users’ needs. Phunware launched these four newly optimized personal computers designed specifically for high-end gamers, traders, streamers, and cryptocurrency miners in conjunction with CES in Las Vegas.”
The Vice President and General Manager of LYTE by Phunware, Caleb Borgstrom
This is great news for the company and should help to push it in the right direction for the near future. In addition to this, PHUN stock is often mentioned as a Reddit penny stock due to its highly trending nature. So, while PHUN can be quite volatile, it could be worth adding to your list of penny stocks to watch.
China Hgs Real Estate Inc. (NASDAQ: HGSH)
One of the largest gainers during premarket trading today is HGSH stock, pushing up by over 23% to just north of $2.21. While the company itself did not release any news, there are some speculative rumors surrounding it right now.
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Some traders believe that with Papa John’s new Chinese expansion plan, China Hgs could get a boost. Papa John’s released an announcement stating that it plans to increase its reach in China by over 1,350 stores. This is a major deal and as a real estate company, HGSH could be an obvious choice for investors to flock to. While there is no mention whatsoever that China Hgs will be working on this, with penny stocks, we often see rumors spark major gains (and losses).
The latest company-specific news came out back in August when China Hgs released its first nine months fiscal 2021 financial report. Revenue during the third quarter alone came into around $31.8 million. This was a major increase of over 944% over its $3 million in the same quarter of 2020. With net income coming in at $3.6 million compared to $2.6 million in Q3 2020, it is clear that HGSH was and could be growing right now. With all of that in mind, does HGSH stock deserve a spot on your penny stocks watchlist this month?
Marin Software Inc. (NASDAQ: MRIN)
Another major premarket gainer today is MRIN stock, shooting up by over 25%. The main reason for this gain comes as the company announced its integration with Amazon Ads platform known as DSP or demand-side platform.
The integration will offer Marin the ability to give its customers management, measurement, and optimization of their Amazon ads. This pertains to its MarinOne Platform which has become extremely popular in the field of marketing and advertising. Since 2007, Marin has managed over $40 billion in ad spend online. This includes those utilizing paid search, retail media, and much more.
“Amazon is great for the success of Retail brands. By integrating with Amazon DSP, we can now offer our customers access to a broad new set of formats, placements, and audiences to further their Amazon programs and deliver more return on investment within their eCommerce ad spend.”
The CEO of Marin Software, Chris Lien
This is great news for the company and should continue to play out into the future. Whether this makes MRIN stock worth buying, however, is up to you.
Are Penny Stocks Worth Buying Right Now?
The short answer to this question is that it completely depends on you and your trading method. While penny stocks are highly volatile, they also present plenty of opportunity to profit. And although making money with penny stocks can be challenging, with the right information on hand, it can be much easier than previously imagined.
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So, as we continue to barrel into 2022, there is plenty for investors to take note of. And, having a trading strategy that is malleable to what’s going on, continues to be the best way to minimize losses. Considering all of this, do you think that penny stocks are worth buying right now?
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