3 Penny Stocks to Watch in Mid-February 2022
As we get ready to start another week of trading penny stocks and blue chips, there is a lot for investors to consider. After yet another highly volatile week, traders are hopeful that February could be a bullish month overall. Now, in the past few months, we’ve seen major market fluctuations. This is the result of the pandemic, inflation, rising interest rates, and geopolitical tensions.
And because there is so much going on in the stock market right now, it can seem difficult to keep track. But, as always, having a trading strategy is the best way to make money with penny stocks. This strategy should account for the current state of the stock market and factors that may change in the near future. So, with all of this in mind, let’s take a look at three penny stocks to watch in mid-February 2022.
3 Penny Stocks For Your February 2022 Watchlist
Denison Mines Corp. (NYSE: DNN)
In the past few trading days, shares of DNN stock have climbed substantially. On February 9th, we witnessed DNN stock shoot up by over 10% by EOD, bringing it to more than $1.35 per share. While many stocks are down over the last twelve months, during that time, shares of DNN stock have climbed by more than 37%.
This signifies both the bullishness on Denison’s business model and the industry it works in as a whole. So, why are shares of DNN stock shooting up right now? Well, before we get into it, it’s worth looking into what Denison does. Denison Mines is a uranium exploration and development company.
It has operations in the Athabasca Basin region of Saskatchewan in Canada. And, its flagship holding right now is the Wheeler River Uranium Project, which it states is the largest undeveloped uranium project in the eastern part of the region. Through partnerships and its own holdings, Denison also has a range of other projects in its portfolio.
Only a few weeks ago, the company announced that it was granted approval to expand tailings at its 22.5% owned McClean Lake operation. And, this was exciting news and continues to be a strong point for investors right now. While it is hard to say what the future of Denison will look like, there’s no doubting the investor interest in it right now. With that in mind, will it be on your penny stocks watchlist?
Zomedica Corp. (NYSE: ZOM)
Zomedica Corp. is a penny stock that we have discussed relatively frequently over the past few months. And during that time, we’ve seen both major spikes and drops with ZOM stock. While its drop of around 88% in the past twelve months is nothing to write home about, we have seen a small bullish turnaround with ZOM in the past few trading days.
To understand what’s going on with Zomedica, we have to take a look at recent announcements and what the company does. On February 9th, Zomedica announced several updates to its management team. It announced that Tony Blair and Kristin Domanski had joined its team as Executive VP of Operations and VP of HR, in January, respectively.
In addition, it added a new VP of Marketing and a VP of Technology Innovation. All of this should help to point the company in an interesting direction moving forward. For those unfamiliar, Zomedica is a veterinary focused biotech company working on new diagnostic platforms. This includes its flagship, Truforma platform, which has been its staple product over the past few years.
The company states that it’s goal is to provide veterinarians with better diagnostic and therapeutic products to increase both patient outcomes and the the ability to grow revenue. Because ZOM stock is quite volatile, investors should take all of this with a grain of salt. But, with all of that considered, ZOM stock could be worth adding to your penny stocks watchlist.
TDH Holdings Inc. (NASDAQ: PETZ)
Another penny stock that investors are watching right now is PETZ stock. In the past few trading days, we’ve seen shares of PETZ shoot up in the double digits. This is a marked and bullish turnaround from its twelve month decline of over 79%. And, the majority of those losses occurred in the middle of January 2022. The most recent news from the company came in December when it announced its first half of 2021 financial results.
In the results, the company posted a revenue decrease of over 50% over the previous years same period to $0.13 million. The company states that this is due to several reasons. That includes suspension of its e-commerce business due to its gross loss, operational and production issues, Covid-19 and its effects on the company, and more.
So, while it is tough to say that PETZ stock is worth watching, many are looking at it as a volatility play. If you’re not familiar, TDH Holdings is a developer and distributor of pet food products. These are sold in China under a wide array of brand names. In addition, it sells these across different parts of Asia and Europe.
As stated earlier, the most recent results from PETZ stock are disheartening. And with an over 80% drop in one day back in January, it’s clear that PETZ stock is extremely speculative. So, with the information provided here, do you think that there are any opportunities with PETZ stock?
Which Penny Stocks Are You Watching This Month?
Finding the best penny stocks to buy in February is all about understanding where to look. Without a proper trading strategy and the ability to make a penny stocks watchlist, making money with small caps can seem impossible.
But, with a thorough consideration of what is going on in the stock market, investors can begin to have a better idea of how to make money with penny stocks right now. So, with all of that in mind, which penny stocks are you watching in February 2022?