3 Penny Stocks to Watch in Mid-January 2022
With penny stocks and blue chips continuing to navigate the volatile waters of 2022, there is a lot for investors to understand. When it comes to penny stocks specifically, we see that speculation is extremely high. This means that knowing exactly what is going on in the world is crucial to making money with penny stocks.
Right now, the major contributing factor to stock market movement is the Omicron variant. By now, the market is more comfortable with Omicron as a factor, however, rising case numbers around the world continue to cause volatility. In addition to this, there is high inflation, economic uncertainty, and more that are adding to the large fluctuations we’re witnessing.
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As always, it is crucial to have a thorough understanding of how to trade penny stocks. This means understanding what your tolerance for risk is and how to take advantage of that. Considering that the stock market is likely to only get more volatile, all of this is important to consider. With that in mind, let’s take a look at three penny stocks for your January watchlist.
3 Penny Stocks to Add to Your Watchlist Right Now
- Reviva Pharmaceuticals Holdings Inc. (NASDAQ: RVPH)
- Dogness Corp. (NASDAQ: DOGZ)
- Pluristem Therapeutics Inc. (NASDAQ: PSTI)
Reviva Pharmaceuticals Holdings Inc. (NASDAQ: RVPH)
Up by around 10% during early trading are shares of RVPH stock. While many large gains like this can occur without news, an exciting announcement came out regarding the company earlier in the trading day. Before we get into why it’s worth discussing what the company does. Reviva is a biopharmaceutical company working on the discovery and development of next-generation therapies.
It’s goal is to treat diseases with high unmet needs such as those affecting the CNS, respiratory and metabolic systems. Today, the company stated that the FDA has noticed it that it can continue with its Phase 3 clinical investigation of brilaroxazine, which is its lead product candidate. This compound could have potential indications in treating schizophrenia.
“We believe that FDA clearance to proceed with initiation of a pivotal Phase 3 trial, as well as an additional Phase 3 trial focused on long-term safety, represents a transformative milestone that may support the filing and approval of a new drug application for our lead candidate brilaroxazine in patients with schizophrenia.
Both Phase 3 trials will be initiated simultaneously, with the long-term safety study designed to supplement efficacy and safety data from the pivotal trial.”
The CEO of Reviva, Laxminarayan Bhat, Ph.D.
This is great news for the company and should bring it one step closer to the eventual commercialization of the drug. While its gains today are highly speculative, it’s clear that investors are interested in RVPH stock. Considering that, is it worth adding to your list of penny stocks to watch?
Dogness Corp. (NASDAQ: DOGZ)
DOGZ stock is a popular penny stock that we’ve covered a few times in the past couple of weeks. The most recent news from the company came when it announced that its products would be available at a top pet store.
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Although shares of DOGZ stock were not highly affected by the announcement, the next day, shares dropped significantly. But as is characteristic with penny stocks, we then saw movement with Dogness the following day bringing its six month gain to roughly 56%. On January 5th, shares of DOGZ stock were sitting comfortably at just under $9 before an over 60% drop just a day or two later. So, while many have confidence in the future of DOGZ stock, it’s hard to look beyond this extremely volatile move.
But, with extremely high volume, DOGZ is showing more popularity than usual alongside lots of chatter online. So, while it is difficult to tell is Dogness Corp. is worth buying right now, it could be worth looking into for some. Considering all of this, will DOGZ be on your penny stocks watchlist?
Pluristem Therapeutics Inc. (NASDAQ: PSTI)
One of the largest gainers of the day so far is PSTI stock, shooting up by over 22%. This is a substantial gain and reflects big news that came out earlier in the day. This morning, the company announced a collaboration with Tnuva Group to produce cultured food. Tnuva is the largest food producer in Israel, and Pluristem has a sizable amount of experience in the cell production industry. The collaboration will form an entity known as NewCo, which Tnuva will invest $7.5 million in initially.
“Both Parties are leading companies in their fields, each with proven experience and tremendous capabilities, and the collaboration between us holds vast potential to lead towards a better future for the food industry.
The collaboration with Tnuva supports Pluristem’s strategy to establish partnerships that leverage its cell-based technology platform. As we embark on this collaboration with Tnuva, Pluristem is still dedicated to its core business of developing cell therapy products.”
The CEO of Pluristem, Zami Aberman
This news is very exciting, especially as other players in the cultured food segment continue to see heightened popularity. While it is too soon to say what this deal will look like in the long run, it is worth considering for now. With that in mind, does PSTI deserve a spot on your list of penny stocks to buy?
Are Penny Stocks Worth Buying Right Now?
If you’re looking for the best penny stocks to buy in 2022, there are hundreds of options to choose from. Because of the sheer number of events impacting that are impacting the stock market right now it is more important than ever to understand what is going on in the world. In addition, knowing how these events will impact the stocks on your watchlist is important.
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With the New Year now in full effect, it’s also pertinent to look out for new and potentially lasting trends. With penny stocks, trends can mean the difference between profits and losses in a very short time frame. So, as we move further into January, which penny stocks are you watching right now?
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