Top Penny Stocks to Watch This Coming Week
With another week of trading almost here, investors continue to search for the best penny stocks to buy. Now, finding penny stocks that are worth it can be challenging without the right tools on hand. But, there are a few ways to make the search easier than previously imagined. For one, penny stocks are extremely speculative.
This means that any and every piece of news will likely have a sizable and material effect on how penny stocks trade. For this reason, it is paramount to pay attention to everything that is going on in the stock market, and aspects that are specific to certain industries.
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The next piece of advice and one that many investors fail to recognize, is having a consistent trading strategy. While many traders choose to blindly buy and sell penny stocks, it is always better to have a personal rulebook for how you wish to trade penny stocks. Because investing is a very individual task, knowing your own goals and risk tolerances will help you to make the best watchlist for you.
And, having a trading strategy that aligns with this, will also help you to maximize your potential profitability. While trading can seem difficult, there are plenty of ways to make it easier. Considering all of that, let’s take a look at three penny stocks that could be worth watching this week.
3 Penny Stocks to Add to Your Watchlist This Week
- Kosmos Energy Ltd. (NYSE: KOS)
- Globalstar Inc. (NYSE: GSAT)
- Amarin Corp. plc. (NASDAQ: AMRN)
Kosmos Energy Ltd. (NYSE: KOS)
One of the largest gainers of the day so far is KOS stock. By EOD, shares of KOS had jumped by over 11% to north of $4.74 per share. This is a surprising gain, and one that is not typical with energy penny stocks. For that reason, it’s worth looking into why shares of KOS stock shot up and what the company does as a whole.
In addition, investors should consider that KOS stock has increased by over 80% in the last twelve months. While it’s tough to say why Kosmos Energy is seeing so much bullish sentiment right now we can look at the industry as a whole. For some context, Kosmos is a deepwater independent oil and gas exploration company. It has several assets spread out in areas such as Ghana, Equatorial Guinea, the U.S. Gulf of Mexico and more.
And as a result, Kosmos is considered to be quite a large player in the energy industry right now. On top of this, Kosmos is often trending online, which adds to its large and frequent price moves. So, considering that, do you think that KOS stock is worth adding to your list of penny stocks to watch?
Globalstar Inc. (NYSE: GSAT)
In the past five days, shares of GSAT stock have shot up by around 2%. And despite a 8% or so drop in the past twelve months, we have begun to see a small bullish turnaround with GSAT stock in the past few trading days. Before we go any further, it’s important to understand that GSAT stock is highly volatile and tends to be swayed by speculation.
The biggest news with Globalstar in the past few months came when rumors surrounded the company regarding the iPhone 13. The rumors stated that Globalstar could potentially supply satellite connectivity products to Apple for the new iPhone. When the rumors were found to be false, shares of GSAT stock quickly dropped. While they have recovered slightly, GSAT stock is still down from its recent highs.
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Right now, the movement with GSAT relates to the larger communications industry momentum. If you’re not familiar, Globalstar offers satellite connectivity via its large variety of product offerings. And, this market has continued to grow substantially over the past few years. So, with all of that in mind, do you think that GSAT stock is worth adding to your list of penny stocks to watch or not?
Amarin Corp. plc. (NASDAQ: AMRN)
Another sizable recent mover is AMRN stock, which has seen high volume in the past few weeks. Recent news from Amarin came out on January 25th, stating that Sarissa Capital had increased its holding in the company. Sarissa added roughly 4% to their position, increasing its holding from 2.2% to around 6%.
Despite shares of AMRN stock dropping by around 54% in the past year, there are still a sizable number of Buy ratings from analysts. In its preliminary 2021 revenue and outlook for 2022 posted on January 10th, the company stated that it anticipates around $580 million in revenue for the full 2021 year.
In addition, it states that revenue for the fourth quarter alone should come in at roughly $140 million. And, the company managed to end the year with roughly $490 million in cash on hand. All of this news is highly encouraging, especially considering the recent approval of its flagship compound, VAZKEPA by the EMA.
Now, the company intends to move forward with its sizable commercialization plans in order to keep building out its revenue stream. With all of that considered, will AMRN be on your penny stocks watchlist or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. Because there are so many out there, it can often seem like a daunting task to pick just a handful for your watchlist. But, because there is such a wide variety of penny stocks to choose from, there are opportunities for everyone to make money with small caps. If we consider that investing in penny stocks is more volatile than ever, we see that it is crucial to understand exactly what is going on in the stock market.
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This can be done by researching and keeping up to date with the latest news and events. As stated earlier, having a consistent and well-thought-out trading strategy will also help to maximize your chance of profitability. So, with all of that in mind, which penny stocks are you watching right now?
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