3 Hot Penny Stocks For Your Watchlist Right Now
While penny stocks have remained highly volatile over the past few months, we are seeing some days of bullish sentiment. Now, it is tough to see what direction the stock market will go in in the near future, however, we do know that there is a lot to be excited about. When looking for penny stocks to buy, we have to consider the current state of the stock market. And right now, the largest impacting factor outside of the pandemic is inflation.
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Yesterday, the CPI data came out showing some of the fastest rising inflation in forty years. The surge of 7.5% YoY in January is quite high, and was well outside what analysts had expected. While markets are stable right now, there is also a lot that could change in the near future. So, keeping all of this in mind, let’s take a look at three penny stocks for your watchlist right now.
3 Penny Stocks That Investors Are Watching Right Now
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Meten Holding Group Ltd. (NASDAQ: METX)
- Gran Tierra Energy Inc. (NYSE: GTE)
Kaival Brands Group Inc. (NYSE: KAVL)
One of the largest gainers of the day is Kaival Brands Group, which climbed by 41% at midday. This is a major gain and caps KAVL stock’s five day uptick of over 135%. And if you think that is a lot, in the past month shares have shot up by over 235%, which is no small feat whatsoever. The main news for KAVL stock came on February 3rd, when it announced a judicial stay of a previous denial from the FDA. In the announcement, the company stated that the U.S. Circuit Court decided to allow the company to continue selling its 11 flavored vapor devices under its Bidi Vapor brand name.
“We expect this judicial stay will result in a rebounding of BIDI® Stick sales. Many wholesale and retail partners had discontinued or slowed purchases of the BIDI® Stick, until we heard back from the courts on the likelihood of our merits case succeeding. This is what our wholesale and retail partners have been waiting for.
The CEO of Kaival Brands and Bidi Vapor, Niraj Patel
While it’s tough to say what the long-term impact of this will be, there’s no doubting that right now it is exciting news. But, it’s important to consider that KAVL stock is highly volatile right now. And as a result, it is easy to see prices fluctuate in the double digits in both directions daily. So, with that in mind, does KAVL deserve a spot on your list of penny stocks to watch?
Meten Holding Group Inc. (NASDAQ: METX)
Meten Holding Group is another penny stop that we have covered extensively in the past few months. And, in the past five days, shares of the company have climbed by a staggering 25.4%. Despite a one year loss of around 90%, we are seeing a recent bullish turnaround for the company. And to understand why, we have to take a closer look. A few months ago, China announced a ban on for-profit tutoring. This resulted in billions of dollars in market cap for many Chinese education companies, lost in a matter of a few days. And since, these companies have worked to find a way to recover the losses.
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The most recent news for Meten Holding came on January 26th when it announced the trial of its new vocation education courses on the Metaverse. The course covers a variety of topics including post-production, interior design, architectural visualization and much more. It states that its students should be able to have an easier time finding employment and learning about this cutting edge field.
“We are thrilled about launching the Courses, through which we hope to address the issue of talent shortage in Metaverse and blockchain industry, especially the shortage of Metaverse infrastructure staff, which was an issue we identified in the process of promoting the business.
Launching the Courses allows us to utilize our resources, knowledge and experience to cultivate talents for the Metaverse and blockchain track and make our contribution to Metaverse vocational education. “
The CEO of Meten Holding, Alan Peng
This is a big move for the company and one that could help to start its rise from the dead. And while it will likely take some time for this program to grow, it is exciting in the meantime. Considering this, will METX be on your penny stocks watchlist or not?
Gran Tierra Energy Inc. (NYSE: GTE)
Gran Tierra Energy is another major gaining penny stock of the day. By midday on February 11th, shares of GTE stock had shot up by over 10.4% to more than $1.22 per share. In the past five days, GTE stock has climbed by over 12.5%, which is quite substantial. While there is no news today that is sparking its gain, it did make an announcement only a few weeks ago. On January 25th, Gran Tierra announced its 2021 year-end reserves. In the report, it posted a 148% PDP reserves replacement as well as other major progress.
“During 2021, Gran Tierra achieved strong 148% PDP and 123% 1P reserves replacement through our successful results from our development drilling, waterflooding programs and field performance.
We completed our 2021 development plan on budget including waterflooding efforts and development drilling in the Acordionero and Costayaco oil fields, as well as workover activities in the Moqueta oil field.”
The CEO and President of Gran Tierra, Gary Guidry
Right now, there is a sizable amount of emphasis on the energy industry. And as a result, companies like Gran Tierra have continued to see bullish momentum. With travel beginning to occur at high levels once more and people going back to work, we could continue to see bullish sentiment in the industry. With this in mind, does GTE deserve a spot on your watchlist this month?
Which Penny Stocks Are You Watching in February 2022?
Making a list of the best penny stocks in February can be challenging. But, it can be made much easier by having a concrete list of what is going on in the market and how to trade, by your side.
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Considering that there is so much movement occurring right now, we have to take advantage of the volatility by using it as part of our strategies. With that in mind, which penny stocks are you watching in 2022.
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