3 Penny Stocks to Watch in the Second Half of January 2022
With another volatile day of trading penny stocks finished, many investors are looking for the best stocks to buy. Right now, there are several events that are in flux, resulting in massive market movements.
But, with the right strategy on hand, investors can take advantage of these movements to make money with penny stocks. Of course, the most obvious factor to consider right now is the pandemic and specifically the Omicron Variant. While investors are optimistic about this, it is still a cause for concern. As a side effect of this, we’ve witnessed inflation rates rise, unemployment numbers move, and so on.
So, to keep a firm grasp on your portfolio, all of these factors should be used as a part of your strategy. As we move into the rest of 2022, investors should also consider what could happen in that timeline. Having a consistent idea of the short and long-term factors that will impact your portfolio, is always a good idea. With this in mind, let’s take a look at three penny stocks to add to your watchlist as January comes to an end.
3 Penny Stocks For Your January Watchlist
Ambev ADR (NYSE: ABEV)
Ambev is a penny stock that we have covered numerous times in the past few months. And while not much news has out about the company in that time, it has made some significant strides in value. If you’re not familiar, Ambev is a Brazilian company that produces and distributed a large range of both alcoholic and non-alcoholic beverages. Its most notable products are its large range of beer brands.
At the end of last year, Ambev reported its Q3 2021 financial results. In the results, the company posted a YoY growth in profit of more than 57%. In addition, its net revenues pushed up by more than 18%. The majority of these gains are due to increased sales volume in Brazil, Central America, and Southern Latin America.
What we see is that during both times of economic turmoil and prosperity, sales for alcohol tend to trend upward. While it is hard to say with certainty whether this can continue at the current rate for ABEV, we do know that many are interested in the company. And with these stellar results, ABEV stock could be worth adding to your list of penny stocks to watch.
Evofem Biosciences Inc. (NASDAQ: EVFM)
On January 19th, shares of EVFM stock managed to shoot up by over 22%. This is a major gain that brings its one-month uptick to over 30%. While many large gains like this occur without news, Evofem made an exciting announcement during premarket trading today.
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It stated that in the fourth quarter of last year, it recorded net sales for Phexxi prescriptions. The company stated that it increased the number of units dispersed by over 80% with a 69% increase in the total prescriptions of the drug. On top of this, the company brought in more than double net product sales, coming out to $3.5 million with a reduced net cash burn.
“Strong demand for Phexxi and gross-to-net improvement in the fourth quarter enabled us to deliver over $3.5 million in net sales – more than twice Q3 levels, and ahead of the current consensus estimate. More than 55,000 women made the Phexxi choice in 2021 and our refill rate continues to rise, demonstrating high satisfaction amongst Phexxi users.”The CEO of Evofem, Saundra Pelletier
This is all highly exciting news for the women’s focused biotech penny stock. And with the sales of Phexxi beginning to increase and FDA approved, the company looks like it could be in a great position to keep growing. Whether this makes EVFM stock a worthwhile addition to your penny stocks watchlist or not is up to you.
New Gold Inc. (NYSE: NGD)
Today, shares of NGD stock managed to shoot up by over 10%, alongside several other gold stocks. Before we get into what New Gold does it’s worth looking into why it climbed today. The main reason behind the uptick in the gold industry comes as the price of gold has pushed up. This comes after yesterday’s major bear market which saw old drop to around $1,807 per ounce.
On January 19th, gold climbed to over $1,840 by EOD indicating a one-day rise of over 1.5%. If you’re not familiar, New Gold is a Canadian mining company with two assets producing gold in Canada. The company has a large stake in both the Rainy River and New Afton mines as well as a 5% stake in Artemis Gold Inc. Recently, the company announced the release of its fourth quarter financial results as well as its 2022 outlook.
“2021 was not without its challenges for New Gold, but we continued to execute on our plans, with the fourth quarter representing our strongest quarter of the year, allowing us to meet our updated consolidated gold equivalent production guidance. Rainy River’s fourth quarter production was up 16% compared to the third quarter, representing Rainy River’s strongest quarter over the last two years.”CEO of New Gold Inc., Renaud Adams
While this gain is major, it is not highly characteristic of the gold industry at large. So, keep the large speculation that is occurring right now in mind before deciding whether NGD stock is right for you.
Which Penny Stocks Are on Your Buy List Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. While it can be difficult to pick the best ones for your watchlist, using information as a guide is paramount.
If you have a proper trading strategy on hand and a commitment to understanding how to trade penny stocks, making money with small caps can be much easier than previously imagined. Considering all of this, do you think that penny stocks are worth buying right now or not?
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