Check These 3 Penny Stocks Out For Your List in February
After a wild day of trading penny stocks and blue chips, investors continue to search for the best stocks to buy. Now, while the trading day started off strong, it quickly devolved into another day of losses across the board. This involves shares of Tesla Inc. (NASDAQ: TSLA), shooting down by over 10% at midday among other sizable losers.
So, what is the main reason that the stock market took such a bearish turn by midday? Well, during midday trading, Federal Reserve Chairman Jerome Powell stated that the central bank could raise interest rates substantially. Specifically, he stated that there is “quite a bit of room” to push interest rates up before the economy would be truly affected.
[Read More] 4 ‘Must Watch’ Penny Stocks Making Big Moves After Latest News
Right now, inflation is above 2% and the labor market remains very strong. But, there is still a sizable amount of uncertainty and fear surrounding the future. So, whether that fear will be able to be curbed in the coming weeks or not remains to be seen.
What we do know however, is that we are likely to continue seeing the high rates of volatility that we’ve seen already. With all of this in mind, let’s take a look at three penny stocks that are climbing right now despite the overall market drop.
3 Penny Stocks to Add to Your Watchlist in February 2022
- VEON Ltd. (NASDAQ: VEON)
- Globalstar Inc. (NYSE: GSAT)
- Northwest Biotherapeutics Inc. (OTC: NWBO)
VEON Ltd. (NASDAQ: VEON)
One of the bigger gainers of the day by EOD on January 27th is VEON stock. With an almost 4% gain, VEON managed to climb consistently despite the rest of the market dropping during that time. While shares of VEON stock have fallen over there past twelve months, it does look like VEON Ltd. is making a small bullish turnaround. Now, it’s tough to say why shares of VEON stock are moving right now.
But, to understand this, we can look at some recent announcements from the company. At the start of the week, VEON stated that it will be releasing its quarterly results on February 28th. Only a few weeks prior to this, the company added Karen Lineman to its board as a non-executive director. Linehan is the former General Counsel of Sanofi, and could play an important role in the future of the company.
If you’re not familiar, VEON offers long range of connectivity and digital services. It provides this around the world in not only established but underserved markets as well. So, while it is difficult to say if VEON stock is worth buying right now, it could be worth adding to your list of penny stocks to watch.
Globalstar Inc. (NYSE: GSAT)
While GSAT stock managed to climb significantly today, it gave up the majority of those gains by EOD on January 27th. Despite this, shares of GSAT stock are still up by over 3.4% in the past five days. While there are no announcements specific to Globalstar that are causing movement right now, there are other reasons to explain its recent uptick. Similar to VEON, Globalstar has benefitted from the recent bullishness surrounding communication stocks.
[Read More] Best Penny Stocks to Watch As the Market Rebounds Today
For some context, Globalstar is a provider of IoT solutions for customers around the world. These solutions are used in a variety of industries including oil and gas, transport, emergency management, government, and much more. Because of this, the company acts as a very broad player in the communications industry.
Currently, it offers the SmartOne asset tracking line, Commercial IoTsatellite transmitters, and its range of SPOT Products for personal messaging and emergency response. It’s important to consider that GSAT stock trades highly off of speculation. Because of that, it is likely to see it move substantially in a short time frame. So, whether that makes GSAT stock worth buying or not is up to you.
Northwest Biotherapeutics Inc. (OTC: NWBO)
One of the more decent gainers of the day is NWBO stock. By EOD, shares of NWBO had climbed by over 5.5%. This brings it to north of $0.90 per share. In the past month, Northwest Biotherapeutics has seen its shares climb by over 26% despite a 40% drop over the past twelve months.
The most recent news from Northwest Biotherapeutics came last month when it announced the MHRA Approval of a license for GMP Manufacturing at its Sawston, U.K. facility. It stated that it will now be able to develop and manufacture products at this location, including its DCVax personalized immune therapy. This is a therapy used in the treatment of solid tumor cancer. Additionally, the company is working on a DCVax-L variation, for those who have been newly diagnosed with Glioblastoma multiforme.
This is one of the most aggressive and lethal forms of brain cancer, and has a highly unmet clinical need. With this license, the company should be able to continue growing this platform alongside the $15 million in financing it received only a month prior to this announcement. With all of that considered, do you think that NWBO is worth buying right now or not?
Which Penny Stocks Are on Your Watchlist Right Now?
Investing in penny stocks in 2022 is not for the faint of heart. However, for those who are willing to put in the time, it can be a profitable endeavor. Understanding how to trade small caps, is one of the keys to making money with penny stocks as a whole. And this process is two-fold. On one hand, traders need to have a thorough and well-thought out strategy. This strategy should be able to adapt to the ever changing conditions of the stock market.
[Read More] Trading Penny Stocks? Top Stock Market News for January 27th, 2022
On the other hand, investors need to know exactly what is going on in the stock market and how to take advantage. Because there are so many factors at play right now, knowing how to use them to your benefit is crucial. So, with all of that in mind, which penny stocks are on your watchlist right now?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!
