Why These Penny Stocks Are Pushing Up While the Market Falls
After a disappointing day of trading for most penny stocks and blue chips, some still managed to climb by EOD. And, being able to find penny stocks that are worth buying, is crucial to making money in the stock market. Now, the main factor at play right now is the geopolitical conflict between Russia and Ukraine.
While things had seemed to be calming down yesterday, today, it appears as though they are heating back up. Now, nothing is definitive, but, we do know that tensions are high. And this has caused major volatility with penny stocks and the broader stock market in the past few trading days. So, with this in mind, let’s take a look at three penny stocks that climbed during today’s bear market.
3 Penny Stocks to Watch That Are Climbing Right Now
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Kosmos Energy Ltd. (NYSE: KOS)
- Gran Tierra Energy Inc. (NYSE: GTE)
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
With any over 13% gain during trading today, it’s no wonder that investors are paying attention to KAVL stock right now. While it is tough to say why shares of KAVL are seeing so much continuous bullish sentiment, there are a few reasons.
In the past five days, shares of KAVL stock have exploded by over 26% and if you think that is substantial, in the past month, that number jumps to almost 300%. During that time, we’ve covered Kaival Brands extensively. And while there’s no news causing its jump today, the company did make an announcement yesterday alongside an important update made two weeks ago.
Yesterday, the company reported its fiscal 2021 results. In the results, the company brought in revenue of $58.8 million, which is less than the previous fiscal year. However, the company states that this is due to the FDA issuing a marketing denial order for products made by Bidi Vapor. This brings us to the announcement made two weeks ago.
On February 3rd, the company reported that it won a judicial stay of the FDA’s marketing denial order. And as a result, the company will be able to market its products moving forward. This was a major loss for the company back when the FDA issued it, and now, it looks like it can finally move beyond this. So, while KAVL stock is highly volatile, investors seem extremely bullish on it right now. Whether this makes KAVL worth adding to your list of penny stocks to buy, is up to you.
Kosmos Energy Ltd. (NYSE: KOS)
Another big gaining penny stock that we have discussed multiple times in the past few weeks is KOS stock. Today, shares of KOS stock managed to climb by almost 4% by EOD. This brings its six month gain to a very respectable, 122%. Ahead of its February 28th Q4 2021 results release, let’s talk about why shares of KOS have climbed so much. One of the main reasons comes as there is an overall bullishness in the energy industry right now and over the past few months. And because of this, investors have been excited about the future of Kosmos Energy.
If you’re not familiar, Kosmos is a deepwater independent oil and gas exploration company. Its main focus is on the Atlantic Margins. This includes production assets located in Ghana, Equatorial Guinea, the U.S. Gulf of Mexico, Mauritania, and Senegal. Recently, the company achieved positive results from the appraisal of its Winterfell-area wells.
“The positive result from Winterfell-2 appraisal well demonstrates the greater potential in the Winterfell area. The well results are encouraging and provide the support needed to advance a low-cost, lower-carbon development scheme that could be brought online in around two years.”The CEO of Kosmos Energy, Andrew G. Inglis
This is great news for the company and shows just how hard it is working to continue growing right now. While a lot of the bullish momentum for KOS stock is based on what happens with the energy industry, Kosmos has a lot to offer independently. Considering that, will it be on your penny stocks watchlist or not?
Gran Tierra Energy Inc. (NYSE: GTE)
By EOD on February 17th, shares of GTE stock managed to climb by more than 3%. This brings it to over $1.31 per share. If that sounds like a substantial gain, in the past five days and one month, shares of GTE stock have exploded by over 16% and over 45% respectively and by more than 160% in the past six months. These major gains reflect both the bullishness of the energy industry and GTE as a company.
With Gran Tierra, it is a similar story to KOS stock. In the past few months, we’ve seen demand for oil and gas rise as case numbers for Covid drop. On February 15th, the company stated that it would be releasing its fourth quarter and full year financial results on February 22nd after the market closes. In its latest announcement, the company posted its production results for 2021.
“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
When it comes to GTE stock, again, it is crucial to pay attention to the energy industry as a whole. This is the best way to predict what could happen with price action. With that considered, do you think GTE stock is worth buying or not?
Are Penny Stocks Worth Buying in February?
When it comes to finding penny stocks to buy in February, there is a lot for investors to consider. Of course, the most pressing factor is what is going on in the stock market. This means looking at the news, current events, and so on.
In addition to this, having a consistent trading strategy will always be paramount to making money with penny stocks. With all of that in mind, do you think penny stocks are worth buying in February?