Are These Top Penny Stocks on Your Watchlist Right Now?
If you’re looking for good penny stocks to invest in, there are hundreds to choose from. But, in 2022, investors need to have a complete understanding of what is going on in the stock market in order to benefit. Right now, the major factors at play include the pandemic, inflation, interest rates, and rising geopolitical tensions. All of these are working in tandem to create a sizable amount of volatility in the stock market.
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While making money with penny stocks in 2022 is entirely possible, understanding how each of these factors will individually impact your watchlist, is crucial. In addition, all traders should have a well-thought-out and consistent trading strategy that can be used no matter the market conditions. This will help to avoid losses and keep profitability consistent. So, with all of this in mind, let’s take a look at three penny stocks that could be worth taking a look at right now.
3 Good Penny Stocks to Watch in 2022
- Ocugen Inc. (NASDAQ: OCGN)
- Transocean Ltd. (NYSE: RIG)
- Southwestern Energy Company (NYSE: SWN)
Ocugen Inc. (NASDAQ: OCGN)
On February 9th, shares of OCGN stock shot up by over 11.9% to almost $4 during trading. This is a sizable uptick and reflects solid bullish sentiment surrounding OCGN stock right now. So why is Ocugen stock pushing up on February 9th? Well, with a 68% drop in the past twelve months, it’s clear that OCGN performance has left a lot to be desired.
But, considering its recent bullish momentum, there is also reason to think that Ocugen could show better performance in the near future. One of those is Ocugen’s work on a Covid vaccine. While there are several vaccines that are popular and in circulation, the need for more is high. And, if it is able to get its vaccine, Covaxin, approved in North America, there’s no telling the potential that OCGN stock could have.
Of course, that is a long way away and purely speculation right now. But, that does seem to be a main driver of OCGN stock’s price. Investors should fully consider that OCGN stock is highly volatile and will likely remain this way for some time. But, there is also a major bullish interest in biotech right now. So, with all of this in mind, will OCGN be on your list of penny stocks to watch?
Transocean Ltd. (NYSE: RIG)
Another sizable gainer of the day is RIG stock. By EOD, shares of RIG had shot up by almost 4% to just over $3.60 per share. This brings its one month gain to almost 8% with a YTD uptick of over 15%. Now, it’s tough to fully understand why shares of RIG stock are climbing right now as no company-specific news has come out.
However, there are some announcements that we can take a look at to help understand this. The most recent news for Transocean came at the end of January when it announced that it would be reporting its Q4 earnings on February 22nd. With this date still a few weeks away, investors are hopefully optimistic about the future of the company.
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If you’re not familiar, Transocean is a provider of offshore drilling contract services. These services are used for oil and gas wells with a large focus on harsh and deepwater drilling. Right now, the company has a fleet of 37 mobile offshore drilling units. This includes 27 ultra-deepwater floaters and 10 harsh environment floaters. And, the company states that it has two more units that are currently under construction.
Right now, the oil and gas industry continues to see sizable bullish sentiment. With supply constraints and large demand around the world for fuel, companies involved in the energy sector are seeing heightened investor interest. So, whether this makes RIG stock worth adding to your penny stocks watchlist is up to you.
Southwestern Energy Company (NYSE: SWN)
Another energy penny stock that climbed during trading today is SWN stock. By EOD, shares of SWN had shot up by around 3%, which is quite substantial. The latest news for Southwestern Energy came yesterday on February 8th. On the 8th, the company announced that it would be expanding its Company-wide certification and monitoring to include the newly acquired Haynesville operations. This includes the independent certification of five times more data than before as well as consistent pad-level monitoring.
“Southwestern Energy’s commitment to obtain third-party certification for our entire portfolio across Appalachia and Haynesville allows our stakeholders to receive independent verification that all of SWN’s production meets and exceeds the highest and most rigorous RSG standards. The ability to monitor emissions from our operations at the pad level is a clear differentiator and will allow SWN to efficiently and effectively reduce emissions.”
The President and CEO of Southwestern Energy, Bill Way
While the energy sector as a whole is in focus right now, there is also a major emphasis on a cleaner future. This means that companies involved in lowering carbon output, are seeing more attention in 2022. While it’s hard to say what the long term future of SWN stock will be, there’s no doubting the interest that investors are showing in the company right now. As a result, SWN stock could be worth keeping an eye on this month.
Can You Make Money With Penny Stocks in 2022?
The short answer to this question is that it completely depends on you and your trading strategy. While making money with penny stocks is entirely possible, investors need to have a complete understanding of how to trade penny stocks and what is going on in the stock market.
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These two metrics will help to give you the best chance of profitability and to lower your chances of losing money. Because penny stocks move so quickly, understanding exactly how to take advantage of the current state of the stock market is crucial. With that in mind, which penny stocks are you watching in 2022?
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