3 Penny Stocks For Your Watchlist This Week
Buying penny stocks or blue chips right now is not for the faint of heart. While there are a lot of opportunities to make money with penny stocks right now, investors have to have a complete understanding of the current market. For that reason, let’s take a look at what is going on in the stock market right now.
What is Going On in the Stock Market Right Now?
Right now, there are two main factors at play that investors have to consider. This includes the geopolitical tension with Russia and Ukraine as well as inflation/rising interest rates. All of these together have resulted in a more volatile stock market than we’ve seen in many months.
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On Friday, February 18th, we also saw the NASDAQ approach the dreaded death cross pattern. This is when the 50-day moving average moves below the 200-day moving average. While it did not quite hit it, many investors feared that it would. And, we saw BTC trade near the $40k psychological threshold. So, all of this is contributing to an extremely volatile stock market.
In regard to Russia, the U.S. stated that the country has nearly 190,000 personnel in and around Ukraine right now. This is a major move and has set a very tense tone for the stock market in the past few weeks.
“While there have been some reports of de-escalation in tensions, nothing has changed fundamentally to prevent investors from remaining fearful about a possible Russian invasion. Beyond this, investor sentiment is likely to remain downbeat anyway given concerns about surging inflationary pressures around the world and policy tightening from the Fed.”
Fawad Razaqzada, an analyst at ThinkMarkets
So, all of these factors are worth considering when making a penny stocks watchlist right now. And while these are challenging time, with the right insight into the stock market, it can be much easier than previously imagined. Considering that, let’s take a look at three penny stocks to add to your list this week.
3 Penny Stocks to Add to Your List This Week
- Express Inc. (NYSE: EXPR)
- Camber Energy Inc. (NYSE: CEI)
- vTv Therapeutics Inc. (NASDAQ: VTVT)
Express Inc. (NYSE: EXPR)
On Friday, February 18th, shares of EXPR stock shot up by over 3.3% , ending the day at more than $4.30 per share. This gives it a one month gain of more than 40%, which is no small feat. So, why are shares of the clothing retailer climbing right now?
Well, first and foremost, many investors consider EXPR stock to be a meme stock. These are stocks that are frequently mentioned on social media sites such as Reddit and Twitter. While this can contribute highly to gains, it can also lead to majorly speculative losses.
In terms of company specifics, EXPR posted solid Q3 2021 earnings. In the report, it managed to grow its sales by 47% over the same quarter of the previous year. So, while it’s tough to see why EXPR stock is growing right now, we do know that in the past, it has shown strength in its business. Considering that, do you think EXPR stock is worth adding to your list of penny stocks to buy or not?
Camber Energy Inc. (NYSE: CEI)
Camber Energy is a penny stock that we have covered extensively in the past few months. And with several recent bullish moves including a six month climb of more than 47%, investors continue to show interest in the company. The most recent news from the company came as its subsidiary, Viking Energy, closed on an acquisition.
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The acquisition of 51% of two entities that own the IP to fully developed and ready-for-market Electric Transmission and Distribution Open Conductor Detection systems, came in at a price of $21 million total. This is a big deal and offers Viking and subsequently, Camber, a new channel for business growth.
“This technology is extremely important. It truly is difficult to put a monetary value on a solution that can sense a broken power line and cut the electricity flowing through the line before the wire hits the ground. Arcing and sparking energized power lines are hazardous, and difficult to detect using traditional concepts.”
The President and CEO of Camber Energy, James Doris
Considering this exciting news, will CEI be on your penny stocks watchlist this coming week?
vTv Therapeutics Inc. (NASDAQ: VTVT)
Another recently popular penny stock is VTVT stock. On Friday, February 18th, shares of VTVT stock managed to shoot up by over 19% by EOD. The main reason behind this gain came as Cantor Fitzgerald analysts initiated coverage on the company with an Overweight rating alongside a $5 price target. At its current price of around $0.84, we see why this is such a big deal. While analyst price targets are just that, they can be important to gauge what a company could look like in the near or distant future.
For some context, vTv is a clinical stage biopharmaceutical company working on diabetes-related drug candidates. The goal is to improve the lives of patients by offering drug candidates for different ailments that are the result of diabetes. In addition, vTv has several development partners that are working on issues such as pulmonary disease, renal disease and much more. With this in mind, is VTVT stock worth buying or not?
Are These Penny Stocks on Your Watchlist Right Now?
As stated earlier, the stock market is in a highly volatile place right now. And as a result, investors continue to look for both penny stocks and blue chips that could be profitable. While it is challenging, it is completely doable. In order to make money with penny stocks, investors need to have two things on hand.
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First, traders need to do a significant amount of research to find penny stocks to buy that are worth it. This means looking into a company’s balance sheet, upcoming announcements and rumors. Second, traders need to have a consistent and well-thought out trading strategy on hand. With all of this in mind, which penny stocks are on your watchlist right now?
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