3 Penny Stocks to Add to Your Watchlist As Ukraine-Russia Tensions Rise
With penny stocks and blue chips in a tough place right now, there is a lot for investors to consider. Now, understanding all of the details behind the Ukraine-Russia conflict is crucial to investing in penny stocks right now. And for that reason, let’s get into what you need to know.
Today, U.S. Secretary of State Antony Blinken, stated that Russian forces could attack Ukraine in the “coming days”. This is based on Russian claims that Ukraine is not following the rules of the Minsk Agreement, which was implemented back in 2015.
Under the agreement, Ukraine agreed to a ceasefire due to heavy fighting in certain areas along the border. So as tensions continue to rise, the stock market continues to see major volatility. Because of this, those investing in penny stocks need to have a proper strategy and solid understanding of what is going on. With that in mind, let’s take a look at three penny stocks to watch as geopolitical tensions continue to rise.
3 Penny Stocks to Watch With Geopolitical Tensions Rising
Zomedica Corp. (NYSE: ZOM)
With an over 10% gain at midday, ZOM stock is highly popular right now. And if that seems like a lot, in the past five days, shares of ZOM stock have shot up by over 41%. While there is no company specific news today that is driving ZOM stock, it did make an exciting announcement on February 15th.
On the 15th, the company stated that Adrian Lock, its current VP and General Manager, will lead its sales organization. This includes field sales personnel, sales management, and professional service vets. Previously, Adrian Lock was the CEO and founder of PulseVet, where he led the company for a decade into becoming a leader in equine medicine.
“I am very excited to lead and continue to build a world class veterinary sales organization in support of the growth of the Truforma in-clinic biosensor platform, PulseVet shock wave therapy, and other exceptional technologies that Zomedica may add in the animal health market.”Adrian Lock, VP And General Manager of Zomedica
The CEO of Zomedica, Larry Heaton, shared a similar excitement for this new appointment. He stated that Adrian has done a great job at leading sales for PulseVet and will be a natural fit for boosting sales of Zomedica’s Truforma platform. Right now, the company is relying heavily on the growth of Truforma in order to increase its revenue. While it is taking time to do so, the hope is that Mr. Lock can both shorten the timeline and increase the amount of when and how much revenue will be brought in.
Keep in mind that ZOM stock can be highly volatile. As a trending penny stock, it often moves up or down substantially in any given trading day. With that in mind, will it be on your penny stocks watchlist?
Exela Technologies Inc. (NASDAQ: XELA)
Another big gainer of the day so far is XELA stock. By midday, shares of XELA had shot up by over 11% to more than $0.81 per share. This brings its one month gain to over 60%, which is quite a lot considering its six month loss of over 65%. In the last few weeks, we’ve covered XELA stock extensively due to its sizable rise in value. And while it is difficult to fully understand it, there are a few reasons why this is occurring.
The most recent news from the company came on February 8th, when it announced the growth of its presence in Europe by way of a new headquarter purchase in Ireland. It states that this multi-level 25,000 square foot facility, will allow it to grow in Europe.
“For nearly ten years, Exela has offered a utility framework approach to the leading Irish banks by processing and clearing all domestic and cross border cheque payments. The service has grown to over 80% market share in Ireland with our close partnership with the Bank of Ireland, Allied Irish Bank, PTSB and Danske Bank and we aim to continue growing.”The President of EMEA, Vitalie Robu
As a major player in the Irish banking industry, this move by Exela makes plenty of sense. Considering that, does it deserve a spot on your list of penny stocks to buy?
Camber Energy Inc. (NYSE: CEI)
If you’ve traded penny stocks in the past few months, you’ve likely heard of CEI stock. Camber Energy has been at the forefront of the trending penny stocks and Reddit penny stocks movement for quite some time. And although the company has a lot to offer, the speculative component is always worth considering.
Today, shares of CEI managed to shoot up by over 2.5%. And in the past six months, we’ve seen CEI stock push up by almost 50%. The reason for today’s gain comes as the company was recognized as a leader in the industry for electric transmissions and open conductor detection systems. This is via its majority owned subsidiary, Viking energy, which owns the IP rights to several patent-pending and ready for market products.
If you’re not familiar, Camber works as an energy and power solutions company through both it and its majority owned subsidiary. Currently, it has an exclusive license to a patented carbon-capture system, and has a majority interest in several other burgeoning technologies. All of this has helped to bring CEI stock heavily into the public eye in the past year or so. And as a result, it remains highly popular right now. With all of this in mind, do you think that CEI is worth buying right now or not?
Are Penny Stocks Worth Buying?
If you’re looking to find penny stocks to buy, there are hundreds of options to choose from. As a result investors need to have a proper understanding of how to trade and which penny stocks are worth buying.
In 2022, it all comes down to considering exactly what is going on in the stock market and how to take advantage of that. With that in mind, do you think penny stocks are worth buying or not?