4 Penny Stocks to Watch as January Comes to an End
As we come closer to the end of January, investors are hopeful that penny stocks can climb in 2022. But so far, the year has been highly volatile as many expected. Now, with the Omicron variant presenting a strange beacon of hope that Covid could become endemic, many investors are excited about the future. And while it may be too soon to tell, there are ways for investors to benefit in the meantime.
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With penny stocks, speculation is paramount and one of the main ways that investors can make money. But, speculation is driven by news and announcements, which means that traders have to stay as up-to-date as possible with the latest news and events. So, with all of that in mind, let’s take a look at four penny stocks to add to your watchlist right now.
4 Penny Stocks to Add to Your Watchlist Right Now
- Phunware Inc. (NASDAQ: PHUN)
- Pluristem Therapeutics Inc. (NASDAQ: PSTI)
- DiDi Global Inc. (NYSE: DIDI)
- Farmmi Inc. (NASDAQ: FAMI)
Phunware Inc. (NASDAQ: PHUN)
In the past six months, shares of PHUN stock have climbed by over 160%. This includes its recent bullish momentum, which has attracted a new slew of investors. After boarding on January 18th, many traders are wondering if PHUN stock is worth buying. And to understand that, we have to consider why shares are pushing up right now.
The main reason behind this comes alongside Donald Trump’s new social media platform and the SPAC that it is using to go public known as DWAC stock. In the past, Phunware created the mobile app for the Trump 2020 campaign as well as providing social media and data services for a similar purpose.
So, while there are no indications other than rumors that Phunware may be involved, many are speculating that it could be. As with all penny stocks, investors should be careful when it comes to the involvement of speculation. This can and will usually result in large price movements that can cause swift losses in your portfolio. So, with that in mind, do you think PHUN stock is worth adding to your penny stocks watchlist?
Pluristem Therapeutics Inc. (NASDAQ: PSTI)
Another penny stock that has been in the news frequently in the past few weeks is PSTI. From January 6th to the 18th, shares of PSTI stock managed to shoot up by over 50% before correcting slightly. This major bullish rise is indicative of a big announcement that the company made on January 10th.
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On the 10th, it stated that it has created a collaboration with Tnuva; Israel’s largest food conglomerate, to leverage Pluristem’s cell-based tech platforms. The goal is to develop and commercialize cultured meat products for sale in the food industry. The joint company will be known as NewCo, and Tnuva will invest $7.5 million in it as the result of a pre-money valuation of $40 million. Additionally, Tnuva has the option to invest another $7.5 million over the twelve months following the deal closing.
“Our collaboration with Pluristem is part of the execution of Tnuva Group’s strategy and vision. Tnuva strives to lead the alternative protein industry in Israel and to continue to expand in the industry on a global scale.”
The Chairman of Tnuva, Haim Gavrieli
This is a major deal, especially considering the rise of similar companies like Beyond Meat and Impossible foods. While there is a long way to go, there is no doubt that investors are excited about this prospect. Considering this, will PSTI be on your list of penny stocks to watch?
DiDi Global Inc. (NYSE: DIDI)
With a solid bullish turnaround during the past week, DIDI stock has continued to make headway in the stock market. Before we go any further, it’s worth noting that DIDI has had some issues with regulatory scrutiny. This has resulted in a drop from its IPO on the NYSE on June 30th at over $14 per share to its current price of just under $5.
The regulatory issues come as the Chinese government have worked to crack down on data security companies that are listed on U.S. exchanges. However, DiDi remains the largest provider of ride-hailing services in China, with almost 90% of the current market share.
Now, the company is working to expand into Europe and Britain, although these plans may be halted given the current regulatory upsets. So, with the ride-sharing market continuing to grow substantially, DIDI stock could be an interesting play. However, it’s worth considering all of these other aspects before investing any money into it.
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock that we have covered a handful of times in the past few years. And with some recent bullish trading days and high volume, Farmmi is once again in the news. On January 18th, the company announced that its subsidiary, Zhejiang Farmmi Biotechnology Co. Ltd. has signed a follow-on product order from a Vancouver-based company. This order is for dried Shiitake mushrooms and will be going to one of its long-term customers.
“We are seeing a higher level of customer activity than is typical for this time of year as positive demand tailwinds from last year continue into 2022. We continue to do a good job managing our supply chain to meet the increased demand, as we ensure high-quality agriculture products, and meet larger size, repeat orders.”
The CEO of Farmmi, Ms. Yefang Zhang
So, with this exciting news considered, does FAMI stock deserve a spot on your watchlist moving forward?
Which Penny Stocks Are You Watching in 2022?
With the first month of the year coming to a close, investors need to keep a consistent and well-thought-out trading strategy on hand. This involves knowing what your trading goals are, understanding which companies fit that profile, and considering how to meet those goals. With penny stocks, we see swift movements that occur regularly.
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And because of this, having a thorough understanding of exactly what is going on in the stock market, is key to making money with penny stocks. So, with all of that in mind, which penny stocks are you watching as 2022 gets further underway?
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