3 Penny Stocks to Add to Your Watchlist Today
With another day of trading penny stocks and volatility in the market, there is plenty for investors to know. The largest impacting factors on the stock market today include the Russia-Ukraine tensions and rising interest rates. Both of these have caused sizable ups and downs and the Dow to drop by around 300 points at midday. In addition to this, recent inflation reports showing some of the biggest jumps since the 80s, has caused sizable concern for the future.
But, with all of this volatility has also come the potential to make money with penny stocks. Now, while it can be tough to do so given the sheer amount of ups and downs in the market, with the right information on hand, it can be much easier than previously imagined. But, having a strategy and using it will always be your biggest asset. Considering all of this, let’s take a look at three penny stocks that are climbing right now.
3 Penny Stocks to Watch Right Now
TC Biopharm Holdings Ltd. (NASDAQ: TCBP)
With an over 8% gain at midday on February 14th, TC Biopharm is in focus for many investors. Now, if you haven’t heard of TCBP stock yet, it’s probably because it was only listed on the NASDAQ exchange last Friday. Since then however, TCBP stock has been making some decent headway. For some context TC Biopharm works in the development of cost-effective cell therapies for cancer as well as viral infections. Its current lead product is known as OmnImmune, which is in late-stage trials for treating blood cancer. In regard to its recent listing, the CEO of the company made an exciting statement.
“Listing to the Nasdaq is an important milestone for TC BioPharm and serves as a testament to our ability to build a platform technology for universal off-the-shelf therapy using gamma-delta T Cells. Trading on the Nasdaq grants us access to one of the world’s largest capital markets and will enhance our visibility in the marketplace, and ultimately unlock shareholder value.”CEO of TC Biopharm, Bryan Kobel
Right now, there is a major emphasis on the biotech industry and biotech penny stocks as a whole. And because of this, TCBP stock could see more popularity moving forward. While it is tough to say how it will trade given how new it is to the market, it could be worth keeping an eye on. With that in mind, will TCBP stock be on your list of penny stocks to watch?
DiDi Global Inc. (NYSE: DIDI)
Another decent gainer of the day so far is DIDI stock. At midday, shares of DIDI had climbed by over 5% to more than $4.18 per share. It’s worth noting that we’ve covered DIDI stock several times in the past few months as a result of its sizable gains. In the last five days, shares of DIDI have shot up by over 18%, which is no small feat. During this time, we’ve seen major news impact the price of DiDi Global.
If you’re not familiar, a week or so ago, the Chinese conglomerate, Tencent Holdings Ltd. added an additional 1.8 million Class A ordinary shares of DIDI stock. This adds to its 78.85 million held at the end of 2021. In the past year however, DIDI stock has seen more than $40 billion of its market value lost due to legislation in China regarding data security. A few months ago, DIDI stated that it begin seeking out a listing on the Hong Kong exchange and potentially withdraw from U.S. stock exchanges.
All of this has made investors slightly uncomfortable with the future of the ride-hailing giant, however, it has also sparked sizable bullish interest in the company. In addition, we have continued to see major volatility with DIDI stock in the past few weeks. So, consider all of this when you’re deciding whether DIDI stock is worth adding to your penny stocks watchlist or not.
Progenity Inc. (NASDAQ: PROG)
Another penny stock that we have been covering extensively over the past few months is Progenity Inc. In the past five days, shares of PROG stock have shot up by over 16% which is quite substantial. If you don’t know much about Progenity, it is a biotech penny stock that works in several areas of the industry.
This includes women’s health, gastrointestinal health and oral biotherapeutics. Within these, it produces molecular testing products, ingestible devices, and much more. The company states that its goal is to produce personal and precise medical therapies. On January 25th, Progenity announced the strengthening of its IP via an additional patent for its single-molecule detection technology.
“This platform has the potential to greatly reduce operating costs and reduce turnaround times for genomic tests, with potential utility extending from nucleic acids to proteins. We are committed to maximizing the value of our patent portfolio and are actively assessing partnerships and other approaches that may expedite a path to market.”The GM of Diagnostics at Progenity, Matthew Cooper
It’s important to consider that PROG stock is highly volatile right now and it has been in the past month or so. But, with a sizable amount of bullish sentiment from investors, it could be worth keeping an eye on. With this considered, is PROG stock worth buying or not?
Which Penny Stocks Are on Your Watchlist Right Now?
As another week of volatile trading continues, there is a lot for investors to know. Trading penny stocks is all about understanding what’s going on in the world. This means looking at the news and considering how certain events will impact your portfolio and the penny stocks in the industry.
And, with the pandemic, geopolitical tensions, inflation, and rising interest rates all occurring, we don’t expect volatility to go anywhere anytime soon. So, considering all of this, which penny stocks are on your watchlist right now?