Are These 3 Penny Stocks on Your Watchlist Right Now?
So far, February has been a kinder month to those trading penny stocks then January. While 2022 as a whole has been wickedly volatile, we have also begun to see small glimpses of continued bullish sentiment.
In the past few months, the bulk of the instability in the stock market has been driven by a few factors in particular. This includes, rising interest rates, inflation, geopolitical tensions, and of course, the pandemic. All of this has made the stock market more volatile than in many months.
And while this has made investing difficult, it has also presented plenty of opportunity to make money with penny stocks. Now, in order to take advantage of this, investors need to understand every aspect of what is impacting the market. This means reading the news and considering how it may affect the penny stocks on your list and the stock market as a whole.
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While all stocks are speculative to some degree, penny stocks tend to be more so. This is due to the under $5 price point and the sheer amount of news that comes out regularly. Because of this, knowing what the next announcement will be and when, can help to give you a heightened chance of making money with small caps.
As always, the best trader is the one with the most information on hand. And for that reason, being informed will give you the greatest chance of profitability. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch in February 2022
- New Gold Inc. (NYSE: NGD)
- Senseonics Holdings Inc. (NYSE: SENS)
- Gevo Inc. (NASDAQ: GEVO)
New Gold Inc. (NYSE: NGD)
In the past week or so, we’ve seen a sizable amount of bullish sentiment with NGD stock. Over the last month alone, shares of NGD have rocketed higher by around 13%. While this may not seem like a lot, it is quite substantial for a gold stock. And, what’s interesting is that despite the overall market trajectory during that time, shares of NGD stock have shot up by over 20% in the last month.
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So, why is New Gold Inc. climbing right now? Well, one of the big reasons came on February 7th, when it announced a strategic investment into Ximen Mining. On Monday, it stated that it had acquired a 9.9% interest in Ximen worth $2.5 million.
“Building strategic relationships with active partners in our community and jurisdiction is essential to Ximen’s long-term goals. Ximen is looking forward to enhancing its relationship with New Gold. Their initial decision to invest in Ximen projects and development plans is an excellent starting point.”
The CEO of Ximen, Christopher R. Anderson
This is great news for the company and should help to grow New Gold’s reach. During the pandemic, many investors turned to gold stocks as a way to hedge bets against the volatility of the larger market. And as a result, companies like NGD have become extremely popular. So, with all of this in mind, will NGD be on your list of penny stocks to watch?
Senseonics Holdings Inc. (NYSE: SENS)
Another sizable recent gainer is SENS stock. In the past month, shares of SENS have shot up by over 40%. This is quite substantial gain and reflects a major bullish turnaround following less than stellar trading in the last twelve months. Now, it’s worth noting that we have covered SENS stock several times in the past few weeks. And during that time, the main news has concerned its 180-day CGM system. This CGM or continuous glucose monitoring system known as the Eversense, will operate much longer than previous models.
On January 5th, the company announced that the FDA is almost finished with its review of its PMA supplement for the Eversense 180-day system. Senseonics stated that all questions have been answered, and that it expects to begin transitioning the product into use by Q2 2022. As a result, it also reiterated its financial outlook of between $12-15 million for the full year 2021 period.
“We understand that the FDA is at full capacity managing the backlog of COVID-19 related filings creating longer than expected review timelines. We are confident a decision regarding approval of the 180-day system will be made in the coming weeks as the FDA continues to clear out the backlog.”
The CEO of Senseonics, Tim Goodnow
With this considered, will SENS be on your penny stocks watchlist moving forward?
Gevo Inc. (NASDAQ: GEVO)
While GEVO stocks performance over the last few months is nothing to write home about, we have begun to see a small bullish turnaround with the company in the last few days. If you’re not familiar, Gevo Inc. turns renewable energy and carbon into hydrocarbons that can be used for a variety of fuel need. This includes jet fuel, diesel, and more, which could have the potential to have zero-greenhouse emissions. Recently, the company announced that it has started its renewable natural project in Northwest Iowa on schedule.
“We’re excited to get NW Iowa RNG online, right on schedule. Our team here has done a terrific job, creating a facility that will become an example of how renewable energy can work for years to come, and we’re excited to bring our partnership with area farmers to the next stage.”
The COO of Gevo, Dr. Chris Ryan
This is an exciting update for the company and one that investors should keep in mind. Whether this makes GEVO stock worth watching or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re making a list of the best penny stocks to buy in 2022, there are hundreds of options to choose from. But, as you may know, trading penny stocks is extremely volatile. For that reason, having a thorough understanding of how to trade and what your investing goals are, is crucial.
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This will help you to avoid taking in losses with penny stocks, and it will help you to make money in the long run. In addition to this, knowing exactly what is going on in the stock market including news both specific and non-specific to the stocks on your watchlist, is paramount. So, with all of this in mind, which penny stocks are you watching right now?
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