3 Penny Stocks to Add to Your Watchlist Right Now
If you’re making a penny stocks watchlist in January 2022, there are hundreds of options to choose from. However, right now and with penny stocks in general, we have to consider what is going on in the stock market. Today, we saw stellar reports from the largest banks in the country with JP Morgan and Wells Fargo beating earnings.
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In addition, we’ve seen DOGE Coin shoot up by over 20% in the past week, indicating a potential return of the crypto bulls. However, we also have an overwhelming fear in the stock market that is causing a sizable amount of volatility right now. And in the past day or two, we’ve witnessed major market upsets lead to large drops across the board. Despite this, hope is high that the future will be bullish for both penny stocks and blue chips. However, this depends greatly on what happens in the next few months concerning Covid.
While the pandemic has had less of an impact on how stocks trade in the last few weeks, the after-effects such as inflation and unemployment, continue to have a large effect. So, understand exactly what is going on and how to take advantage. With that in mind, let’s take a look at three penny stocks to watch in January 2022.
3 Penny Stocks to Watch in January 2022
- ATI Physical Therapy Inc. (NYSE: ATIP)
- Lloyds Banking Group Plc. (NYSE: LYG)
- Camber Energy Inc. (NYSE: CEI)
ATI Physical Therapy Inc. (NYSE: ATIP)
With a 23% gain at midday, ATIP stock is one of the largest gainers so far. Despite a one year loss of around 60%, we are seeing a slight bullish turnaround for the company right now. The main reason for today’s gain comes as analysts at Jefferies upgraded the stock from Hold to Buy and gave it a $5 price target from its initial $3.50 target. While analyst ratings are nothing to live or die by, they can be worth considering in your decision.
If you’re not familiar with ATI Physical Therapy, the company has over 900 clinics across the U.S. These clinics service more than 2.5 million unique patients, where it offers a large range of physical therapy related services. Additionally, the company offers its online platform known as CONNECT, which allows it to conduct virtual physical therapy appointments. The most recent news from the company came last month when it announced the addition of healthcare executive, Teresa Spark to its board of directors.
“Teresa is a trusted and valued executive with an established track record in healthcare industry finance. We welcome her wealth of experience and knowledge in this space as we continue to hone the right path to success for the company and leadership of ATI.”
The Executive Chairman of ATI, John Larsen
So, with all of this exciting news in mind, do you think that ATIP stock is worth adding to your list of penny stocks to watch?
Lloyds Banking Group Plc. (NYSE: LYG)
Another sizable gainer of the day with above average volume is LYG stock. Over the past twelve months, shares of the financial institution have risen by a staggering 51%. This includes more than 27% of those gains which have occurred in the last month period.
One of the main reasons behind its recent bullish moves comes as the British banking industry has seen positive sentiment as of late. In addition, the company has made several updates including bringing back dividends, which investors are excited about. From a financial perspective, the company is still working to improve its capital position. The main worry with LYG stock and any financial services or financial institution stock right now is the pandemic.
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While the major fears surrounding Omicron have somewhat dissipated, the after effects of the pandemic will likely continue to be widespread. So, while it is hard to say with any certainty what performance we can expect with LYG stock, there’s no doubting its recent popularity. Considering this, will it be on your penny stocks watchlist moving forward?
Camber Energy Inc. (NYSE: CEI)
One of the most popular penny stocks of the past year or so has been Camber Energy Inc. In the last six months, shares of CEI stock have shot up by over 30%. However, from August 31st to September 30th, shares of CEI stock climbed by more than 600%. This staggering gain is a reflection of CEI’s placement as both a meme stock and a Reddit penny stock.
While it did reach almost $5 per share in that time, we’ve seen Camber Energy fall back down to a much more reasonable price. If you’re not familiar, Camber is an independent oil and gas exploration company. It also has a majority-stake in Viking Energy as well as Simson-Maxwell Ltd. And more recently, the company licensed a carbon-capture technology from ESG Clean Energy.
So, it’s clear that CEI is making major headway in the stock market right now. And while it is difficult to say whether it can keep gaining or not moving forward, there’s no doubting its popularity right now. Keep in mind that CEI stock is highly volatile. And because of this, it’s likely to see it move frequently and in large amounts. So, whether this makes CEI stock worth buying or not is up to you.
Can Penny Stocks Make Gains Throughout January?
If you’re looking for the best penny stocks to buy right now, it all depends on what is going on in the stock market. While it can seem difficult to make money with penny stocks given the sheer amount of events occurring simultaneously, there are plenty of ways to do so.
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The best method is to have a consistent trading strategy that can adapt to the shifting tides of the market. In addition, knowing how to take advantage of the current state of the economy and stock market, will be a major benefit to how you trade. Considering all of this, do you think that penny stocks can continue to make gains in January 2022?
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