3 Under $4 Penny Stocks to Add to Your Watchlist This Week
After an incredibly shaky week of trading penny stocks and blue chips, investors are excited about a new week. While it is challenging to find the best penny stocks to buy ahead of time, investors can consider what has happened in the previous week, to understand where momentum may be headed.
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Last week, we saw issues surrounding the U.S. economy, as well as certain geopolitical upsets, lead to major declines in the stock market. In addition, many large blue chips reported less than stellar balance sheets. Because of this, the market dropped well into correction territory. And, while there is still a whole year left to go in 2022, there’s no doubting that trading is not the easiest right now.
As a result, having a prudent and consistent trading strategy, will always be the best way to increase your chances of profitability. And with such a high level of volatility in the market right now, increasing your chances of gains will always be desired. So, with all of this in mind, are these three penny stocks on your watchlist for this coming week?
Are These 3 Penny Stocks on Your Watchlist This Coming Week?
- Gaotu Techedu Inc. (NYSE: GOTU)
- Venator Materials Plc. (NYSE: VNTR)
- Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
Gaotu Techedu Inc. (NYSE: GOTU)
GOTU stock is a penny stock that we’ve covered numerous times in the past few days. And with an over 4.6% gain on January 21st, it is once again heavily in the news. In the past five days, shares of GOTU stock have climbed by over 30% which is no small feat. And despite a one year drop of more than 95%, we are seeing a small bullish turnaround with GOTU stock.
So, whether this bullish move can continue or not remains to be seen. But, to understand this further, we can take a closer look at the company. The main issue that GOTU and other Chinese education stocks have faced is the crackdown on the for-profit tutoring industry by the Chinese government. This occurred months ago, and has resulted in most similar businesses dropping substantially in value.
Now, Yu Minhong, the founder of Gaotu, has stated that he plans to begin selling agricultural products online. In addition he will work toward live streaming e-commerce. The goal is to avoid shutting the company down as it has more than 50,000 employees remaining. So, with all of this in mind, will GOTU be on your penny stocks watchlist or not?
Venator Materials Plc. (NYSE: VNTR)
Another penny stock that climbed on January 21st is VNTR stock. By EOD, shares had pushed up by over 13.4%, which is quite substantial. Despite a twelve month drop of around 35%, we have seen a slight bullish switch for VNTR stock in the past few trading days. Now, it is tough to say why VNTR is growing right now as no company-specific news came out.
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However, we did see an analyst rating a few weeks ago that could be responsible. On January 4th, analysts polled by Capital IQ gave the company price targets ranging from $2.20 to $5. Additionally, they gave it a hold rating on average. In its Q3 2021 results, the company managed to bring in a net loss of $47 million with an adjusted EBITDA of $48 million compared to $17 million in the previous year.
“Our businesses performed well during the third quarter. Functional TiO2 demand remains robust across all sectors and demand for our specialty TiO2 products is improving. These improved conditions have enabled TiO2 margin expansion within the third quarter through pricing actions.”
The CEO of Venator, Simon Turner
With all of this information, it seems tough to peg VNTR as a buy or not a buy. For that reason, it could be worth looking into in greater depth to try and deduce an answer. With that considered, will VNTR be on your list of penny stocks to watch?
Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
Clear Channel Holdings is a penny stock that we have discussed many times in the past few months. And although shares are down in the past few trading days, they have climbed by over 76% in the past twelve months. This is a significant move for the company and one that reflects its momentum during that time.
The most recent announcement from Clear Channel came on January 14th. This is when the company announced that it would release its Q4 2021 financial results on February 24th. Additionally, it will host a conference call to discuss the results shortly after. While the financial results are important, the release of this data is also equally consequential. Because penny stocks are so speculative, these can have a major impact on how they trade. If you’re not familiar with Clear Channel, it is one of the largest advertising companies in the world.
It has a portfolio of over 500,000 print and digital displays in over 26 countries around the world. And, because of that, the company has been able to vastly grow its reach in the past few years. So, with more people traveling now than over the last two years, we could see CCO’s audience begin to grow once again. With all of that in mind, will CCO be on your penny stocks buy list or not?
Can Penny Stocks Be Profitable This Week?
With such a wide variety of penny stocks to buy, finding the best ones for your list can be challenging. However, because there are so many different penny stocks to choose from, the options are plenty. Now, the best course of action will always be to have a full and complete understanding of how to trade.
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While it may seem difficult to do so, knowing what your investing strategy is, is paramount to knowing how to trade. With all of this in mind, do you think that penny stocks can be profitable this coming week?
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