3 Penny Stocks to Add to Your February 2022 Watchlist
With another day of volatile trading for penny stocks and blue chips underway, there is a lot for investors to consider. On Tuesday, most indexes were trading in a volatile pattern as numbers regarding manufacturing and unemployment hit the market.
Additionally, several major earnings reports are set to go live after the closing bell on February 1st. By midday however, markets began to take a positive turn with the Dow up by around 0.05% and other indexes in a similar spot. Despite this, there are numerous penny stocks that have seen sizable gains already today.
As a result, trading penny stocks remains incredibly popular right now. While it is a potentially scary time to invest in penny stocks, historically, major market downtrends have often led to large upswings after the fact. While no one can predict whether or not this will occur, we do know that there is bullish sentiment underneath the massive speculation right now.
What to Watch With Penny Stocks Now
Today, reports showed that U.S. manufacturing dropped to a 14-month low in January 2022. This is mostly due to the effects of the Omicron variant on industry and in-person work. Additionally, the labor market remained strong with solid job vacancies around the nation totaling around 10.925 million as of the end of 2021.
Additionally, we watched the two major meme penny stocks, AMC Entertainment Holdings Inc. (NYSE: AMC) and GameStop Corp. (NYSE: GME) both climb on fourth-quarter earnings beats. So, with all of this exciting news in mind, let’s take a look at three penny stocks that are climbing right now.
3 Penny Stocks to Watch in February 2022
- Creative Realities Inc. (NASDAQ: CREX)
- Exela Technologies Inc. (NASDAQ: XELA)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Creative Realities Inc. (NASDAQ: CREX)
One of the largest gainers of the day so far is CREX stock. By midday, shares of CREX had shot up by over 16% to north of $1.60 per share. While many large gains in the stock market occur without news, CREDX made an exciting announcement at market open. The company stated that it and Reflect Systems Inc. have won a project to offer digital experiences for retail customers at hundreds of areas around the country. It also stated that this contract value will be worth more than $10 million, which is very encouraging.
“This win is a validation of what we’ve been saying since Reflect and CRI first began discussing a merger: we believe our combined offerings are stronger than anything else in the industry. Winning a project of this value and prominence sends a powerful message to both existing and potential new customers – we have something new and exciting that they will want to consider.”The CEO of Creative Realities, Rick Mills
Right now, the tech industry is heating up, and continues to bring in new investors. And as a sizable player in several markets including providing SaaS to automotive, advertising, gaming and much more, CREX is an interesting play. With that in mind, will it be on your list of penny stocks to watch?
Exela Technologies Inc. (NASDAQ: XELA)
Another decent gainer of the day is XELA stock, which climbed by over 5.6% at midday. Despite a one year drop of over 65%, shares of XELA stock have been moving in a bullish direction in the last few trading sessions. Since January 25th, XELA has climbed by over 74%, which is no small feat.
The major reason behind XELA’s recent climb is its share buyback program. A week ago, it announced that it would be purchasing roughly 100 million shares of common stock at $1 per share. The deal states that shareholders will be able to exchange blocks of 25 shares of common stock for a note worth $25 that is due 2029 with an annual interest rate of 6%.
“After deploying more than $400 million of capital in 2021 to substantially reduce debt and extend maturities, we are now deploying capital to unlock shareholder value for our large and growing shareholder base.”The Executive Chairman off Exela, Par Chadha
While it’s tough to say what XELA’s performance will be moving forward, it could be an interesting company to keep an eye on. With that considered, does XELA stock deserve a spot on your penny stocks watchlist?
Ebang International Holdings Inc. (NASDAQ: EBON)
By midday, shares of EBON stock had climbed by over 24%. This is a substantial gain and brings EBON stock’s five day uptick to over 35%. So, why exactly are shares of EBON climbing right now? Well, it’s tough to say with certainty however, the price of EBON stock is typically tied to that of cryptocurrency as a whole. And, with cryptocurrency crashing several times in the past month, we are seeing renewed bullish sentiment with many major crypto’s. Today, Bitcoin rose to its highest level in two weeks, which is a great sign for investors.
Over the last month, we’ve seen BTC drop as low as $35,000, indicating its lowest level since July of last year. And, now that prices are climbing again, many crypto associated penny stocks are also understandably pushing up. So, while EBON stock is highly volatile, it’s important to look at what the crypto market is doing to understand its price movement. Whether this makes EBON stock worth buying or not however, is up to you.
Which Penny Stocks Are You Watching Right Now?
As we continue to barrel into 2022, there is a lot to keep track of with penny stocks. While it can be difficult to keep up given the sheer amount of momentum in the market, there are plenty of ways to make money with penny stocks right now. The best way to do so is to have a complete understanding of what is going on in the stock market and how to trade penny stocks at large.
These will work together to give you the best chance of profiting. Now, in 2022, the sizable amount of volatility means that investors also need to have a high tolerance for risk. So, with all of that in mind, which penny stocks are you watching right now?
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