Here Are 3 Penny Stocks to Add to Your Watchlist Next Week
If you’re making a list of the best penny stocks to buy right now, there are hundreds of companies that could be worth watching. But, when it comes to finding penny stocks for your watchlist, it all comes down to knowing where to look.
Right now, the major movement is the result of the Covid pandemic and the Omicron variant. In the past few months, this has taken over and resulted in a sizable amount of volatility. While this can seem scary at first, it also presents an opportunity for investors to take advantage. Aside from this, investors need to understand what their trading strategy is.
On one hand, we have short-term trading or swing trading. This means buying and selling penny stocks in a short time frame to make a series of small gains. Swing trading is a very popular strategy with those who trade penny stocks as it is conducive to the rate at which small-caps move.
On the other hand, we have long-term trading. This is trading that involves picking penny stocks that could traverse penny stocks status. While this is less likely, it is also a popular strategy to use. Considering all of this, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch With Next Week in Mind
Phunware Inc. (NASDAQ: PHUN)
One of the biggest gaining penny stocks of the past few months is PHUN stock. In the last six months, shares of PHUN have shot up by a staggering 140% to over $2.85. One of the main reasons that shares of PHUN stock have climbed so heavily during that time is its relation to Trump stocks. This has to do with former President Donald Trump’s new social media platform.
While Phunware doesn’t have a major tie to this venture, it is related, and therefore has followed the meteoric rise of other similar stocks. But, to understand Phunware in greater depth, we have to look at what it does and its recent news. The most recent announcement from the company came a week or so ago. This is when it announced two new strategic supplier relationships as well as an optimized PC series via its LYTE Technology business unit.
“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 Phunware, Caleb Borgstrom
This is great news for the company and should help it to dive deeper into the tech industry. Considering all of this, does PHUN deserve a spot on your list of penny stocks to watch?
Vinco Ventures Inc. (NASDAQ: BBIG)
In the past few trading days, shares of BBIG stock have been making big headlines for rumors surrounding the upcoming launch of its Cryptyde platform. This led to a more than 20% gain on January 13th which brought its five day gain to over 49%.
The rumors surrounding this came out own January 13th and add to the list of hyped events for BBIG following its previous partnership with Zash Global Media. This partnership saw the addition of Vinco Ventures as a 50% owner of Lomotif, which the company aims to make a competitor of the famed video sharing app, Tiktok. Now, the company is working to build a potential IPO for its Cryptyde operation, effectively known as TYDE. Recently, the company Fintel, added a web page to track TYDE stock prior to its IPO.
This is big news considering not much has been said about the TYDE IPO in the past month or so. As a result, shares of BBIG stock have been pushing up. While this is exciting, it’s also crucial to separate rumors from facts. So, keep in mind that this is purely rumor based right now and that is what is driving the price of BBIG stock. With that in mind, will BBIG be on your penny stocks watchlist moving forward?
Ocugen Inc. (NASDAQ: OCGN)
Ocugen is a penny stock that we have covered numerous times in the past few months due to its placement in the industry and constant trending nature. In the past few trading days we’ve seen a small bullish turnaround for OCGN stock, bringing its one year gain to over 65%. The most recent news from the company came as it announced that its Covid-19 booster dose is effective against the Omicron variant.
Right now, anything having to do with Covid is extremely popular, and as a result, OCGN stock has seen heightened popularity in the past few weeks. The company stated that the neutralizing antibodies from its booster dose, were present in more than 90% of those who received it.
The vaccine, appropriately named Covaxin, is a joint development effort between it and Bharat Biotech. And with the Omicron variant continuing to rise in case numbers around the world, this is great news for the company and investors alike. So, do you think that OCGN stock is worth adding to your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy in 2022, there are hundreds of options to choose from. Because of the sheer amount of momentum in the stock market, there is also plenty to take advantage of.
The majority of movement right now involves Covid and the Omicron variant as well as what is going on economically. This concerns inflation, jobs reports, and what the Fed does in terms of interest rates moving forward. So, as you can see there is a lot to keep track of right now. But, with a proper grasp of that information, investors can have the best chance of making money with penny stocks. Considering all of this, which penny stocks are you buying right now?