3 Penny Stocks That Are Popular With Investors Right Now
If you’re looking for popular penny stocks to add to your watchlist, there are hundreds to choose from. While it can be difficult to pick the best penny stocks for your watchlist, doing so can mean the difference between profits and losses.
Right now, there are several factors that are all contributing to movement in the stock market. This includes Covid, inflation, the U.S. economy, geopolitical troubles, jobs reports, and so on. And as a result of all of these factors being at play, investing in either penny stocks or blue chips, can be quite difficult. In addition, we’ve seen the stock market drop significantly in value in only a short time frame. This is a clear illustrator of market movement and what is going on in the stock market right now.
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While it is great to have a thorough and consistent understanding of the stock market, knowing your own trading strategy will also be a major benefit. This can mean the difference between profits and losses in a very quick time frame. So, with all of this in mind, let’s take a look at three popular penny stocks that you should know about as January ends.
3 Penny Stocks That Investors Are Watching in 2022
- American Battery Technology Co. (OTC: ABML)
- Gamida Cell Ltd. (NASDAQ: GMDA)
- ConforMIS Inc. (NASDAQ: CFMS)
American Battery Technology Co. (OTC: ABML)
Up by almost 10% today are shares of ABML stock. It’s worth noting that we’ve covered ABML plenty of times due to its consistent movement in the stock market. However, in the past twelve months, shares of ABML stock have dropped by over 68%. So, is today’s gain a sign that we could see a bullish turnaround for American Battery Technology? Well, to understand this, we have to take a closer look at what the company does and why it’s moving up. Only a week or so ago, the company announced the first delivery of its Tonopah Flats lithium samples for analysis.
“We’re proud of how quickly and efficiently our Resources team has been able to develop and execute this initial exploration drilling and sampling effort, and we’re excited to begin analyzing the characterization results from these initial samples.”
The CEO of American Battery Technology, Ryan Melsert
The company stated that the original 305 claims showed very promising results at this drilling location. And for that reason, this is an interesting piece of news to consider. For some added context, ABML provides low-cost and domestically sourced power supplies. This includes battery metals via recycling, extraction, and resource development. So, with all of this exciting news in mind, will ABML be on your list of penny stocks to watch?
Gamida Cell Ltd. (NASDAQ: GMDA)
Another big gainer of the day so far is GMDA stock. By midday, shares of GMDA stock had shot up by over 8% to north of $3.20. While this may seem like a lot, in the past five days, GMDA stock has pushed up by over 40%.
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The main culprit behind today’s gain comes as the company provided an update on the BLA submission of its Omidubicel compound. It states that this compound could be a potentially life-saving treatment for those with different types of blood cancers.
“We are very pleased that our productive interactions with the FDA have resulted in alignment on the Omidubicel manufacturing comparability analysis and agreement to initiate a rolling submission of our BLA application. Omidubicel is the first bone marrow transplant product to receive Breakthrough Therapy Designation from the FDA and has the potential to be the first FDA-approved advanced cell therapy for allogeneic bone marrow transplant.”
The CEO of Gamida Cell, Julian Adams, Ph.D.
With this great news in mind, it’s no wonder that shares of GMDA stock have been pushing up. But, whether it can keep this momentum into the future or not remains to be seen. Considering this, will GMDA be on your penny stocks watchlist?
ConforMIS Inc. (NASDAQ: CFMS)
One of the bigger gainers of the day by EOD on January 21st is CFMS stock. During intraday trading, shares of CFMS pushed up by over 13%, settling around $0.77 per share. And, in the past five days, shares have climbed by more than 14%.
So, why is CFMS stock moving so much right now? The short answer comes as the company announced yesterday, its plans to release its financial results on March 2nd. The results will be followed by a webcast hosted by the CEO and CFO Mark Augusti and Bob Howe, respectively. If you’re not familiar with ConforMIS, it produces a wide range of medical tech related products. This includes those aimed at helping joint pain and personalized treatment solutions.
In addition, it offers personalized implants and replacements for major joints. This is a major market, and combined with the large emphasis on biotech stocks right now, it makes sense that CFMS stock would be increasing in value. Considering all of that, do you think that CFMS is worth buying right now or not?
Which Penny Stocks Are on Your Watchlist Right Now?
With such a long list of penny stocks to watch right now, it can be difficult to find the best ones to buy. However, if we consider that there are so many options, the best choice can then be to uncover our own trading strategy. With a proper trading strategy comes the ability to find penny stocks that align with our long term goals. And, this is a crucial step to making money with penny stocks.
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While some choose to buy and hold penny stocks in the long term, most tend to do the opposite. This is due to the sheer speculative nature of penny stocks and the rate at which they move. But, it is crucial to know what type of trader you are and how to take advantage of that. Considering all of this, which penny stocks are on your watchlist right now?
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