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Hot Penny Stocks to Add to Your Small Caps Watchlist Now

Which penny stocks are on your buy list for this week?

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3 Hot Penny Stocks to Watch in Late January 2022

As we get ready to start another week of trading penny stocks, there is a lot for investors to look forward to. Now, while it may seem difficult at first to understand exactly what is at play in the stock market, we can break it down to make it easier. 

Right now, the most pressing factor on the price of penny stocks is Covid and the Omicron variant. With the rapid rise in case numbers we’ve seen in the past few months, many investors are worried about the future. However, if we look at South Africa as an example (where the variant began), we see a steep drop in case numbers only a short time after it began. 

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For this reason, some investors believe that we could begin to see cases lesson in the near future, bringing the pandemic more toward an endemic state. As a result of this however, we also have to contend with the economic ramifications of the pandemic such as high inflation, large jumps in the CPI, and interest rate hikes as a result of stimulus given out over the past two years. 

So, while it may seem like a scary time to invest in either penny stocks or blue chips, it doesn’t have to be. With the right information on hand and a commitment to understanding how to trade penny stocks, making money with small caps in 2022 can be entirely possible. With this in mind, let’s take a look at three hot penny stocks to watch in late January 2022. 

3 Penny Stocks to Add to Your Watchlist Right Now 

  1. Denison Mines Corp. (NYSE: DNN
  2. Ideanomics Inc. (NASDAQ: IDEX
  3. Iamgold Corp. (NYSE: IAG

Denison Mines Corp. (NYSE: DNN)

In the past six months, shares of DNN stock have climbed by a very respectable 33% to its current price of just under $1.36 per share. And, in the past twelve months, that number jumps to over 74%, which is no small feat. If you’re not familiar, Denison is a uranium exploration and development company. Its assets are focused in the Athabasca Region in Canada, where its Wheeler River Uranium project is located. This is its flagship project in which it owns a 95% interest in.

The most recent news from the company came on January 13th when it announced the negotiation of repayment for its debt from Uranium Industry a.s. The two parties have agreed that Denison will receive $2 million from Uranium Industry following a months-long arbitration process. This is great news for Denison, and should be a positive cash infusion that the company could utilize.

Outside of this, there is a sizable amount of bullish sentiment on the uranium and renewable energy industry as a whole. So, with all of this in mind, will DNN be on your list of penny stocks to watch?

Ideanomics Inc. (NASDAQ: IDEX)

Ideanomics Inc. is a penny stock that we have covered multiple times in the past few months. If you’re not familiar, it operates in two distinct segments. On one hand, Ideanomics has its Mobility division. This division invests in new and groundbreaking mobility companies. That includes EV’s, batteries, and much more. Ideanomics Mobility has made major headlines for the company due to its potentially promising investments across the EV marketplace.

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On the other hand, Ideanomics invests in budding fintech solutions through its capital division. Right now, fintech is a major focus for investors, and has sizable long term implications. On January 14th, shares of IDEX stock managed to climb by over 4%. While no company specific news came out on that day, investors witnessed an overall bullish move in the EV sector. So, with all of this considered, do you think that IDEX stock is worth buying or not?

Iamgold Corp. (NYSE: IAG)

IAG is another popular penny stock to watch right now and one that has climbed by over 17% since September of last year. On January 13th, the company announced that its 2021 production is in line with guidance, although it is still a drop YoY.

The company states that it should be able to produce gold in the range of 570,000 to 640,000 ounces. At the end of 2021, the company announced that it held roughly $545 million in cash and cash equivalents. In addition, the company was able to produce roughly 153,000 ounces of gold during the fourth quarter alone.

In the past year or two, many investors have turned their eyes on the mining industry as a way to avoid the higher volatility of the larger stock market. While mining penny stocks can still be quite volatile, the outlook on the industry as a whole remains quite positive. And as a major producer of gold ore, Iamgold continues to be a popular choice for investors of all types. With that in mind, will it be on your penny stocks watchlist this month?

Are Penny Stocks Worth Buying Right Now?

The short answer to this question is that it completely depends on the individual. Because there is so much to contend with in 2022, traders need to understand two things. The first and most important is what their own trading strategy is. This means looking internally and uncovering what your tolerance for risk is and how to take advantage of that. Second, traders need to know exactly what is going on in the stock market. 

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Because penny stocks are so speculative, knowing what is going on and how to take advantage of those events are both crucial to making money with small caps. And right now, the heightened level of volatility that we’re witnessing can be used to profit. But again, know if you are more comfortable with riskier stocks or those that may be more stable in the long term. With all of this in mind, do you think that penny stocks are worth buying right now or not?

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By J. Phillip

I stay on the cutting edge of industry and enjoy finding out about new companies that major outlets and funds haven't heard of (yet). Most of the time you can find me deep in the corporate filings, focusing on fundamentals that could be behind the next big move in certain stock.

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