Can You Make Money on Penny Stocks? 3 to Watch Right Now

When it comes to investing in penny stocks, there are a lot of questions that investors have. Can I make money with penny stocks? Are penny stocks worth buying? What are the risks of trading penny stocks? And, all of these questions are valid, and can be broken down individually. But before doing so, it’s worth taking a look at what penny stocks are. 

For those unfamiliar, penny stocks are any security trading under $5 per share. While many believe that penny stocks have to be under $1, the real definition puts them under the $5 mark. But, with this low price comes both the potential to see major volatility and a large amount of reactivity as well. 

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So, can you make money with penny stocks? Well, the short answer is yes. But, just like anything else, there is no way to get rich quickly with penny stocks. Rather a combination of trading experience, a strategy and a consistent understanding of the current state of the market, will all work in tandem to give you the best chance of profitability. With that in mind, let’s take a look at whether penny stocks are worth it or not.

Are Penny Stocks Worth it or Not?

To understand if penny stocks are worth it or not, investors have to consider what type of trader they are. This means looking at your investing goals, strategy, and what your short and long term plan is. Because penny stocks are highly speculative and volatile, it can be very easy to lose money trading them. However, it is also completely possible to make money with penny stocks. 

But, if you’re looking for a long term stable investment, it may be best to find a blue chips that you can hold and forget. However, if you want to take an active role in managing your portfolio, penny stocks could be for you. But as stated earlier, investing is and will always be an individual task. And because of that, it is up to you whether penny stocks are worth it or not.

3 Penny Stocks to Add to Your Watchlist Right Now 

  1. DiDi Global Inc. (NYSE: DIDI
  2. Zomedica Corp. (NYSE: ZOM
  3. Tellurian Inc. (NYSE: TELL

DiDi Global Inc. (NYSE: DIDI) 

Up by around 5% today are shares of DIDI stock. In the past few weeks, we’ve covered DIDI stock numerous times. This is the result of its consistent momentum and popularity in the stock market. Since February 4th, shares of DIDI stock have exploded by over 24% to its current price of just under $4.30 per share. In the past few weeks, the company has faced scrutiny as it prepares to delist from the NYSE. 

As one of the largest ride-hailing services in China, the company has chosen to list on a Hong Kong exchange instead of the NYSE. This is the result of a large crackdown from the Chinese government on the company and similar businesses in that time. So, if you’re considering buying shares in DIDI, understand that we will likely continue to see high volatility for some time. But, if that is something you’re comfortable with, DIDI stock could be worth adding to your penny stocks watchlist

Penny_Stocks_to_Watch_DiDi

Zomedica Corp. (NYSE: ZOM) 

Another penny stock that we have covered numerous times is ZOM stock. With more than 25% in gains in the past five days, we are beginning to see a bullish turnaround for the veterinary health company. Before we get into why shares of Zomedica Corp. are moving, it’s worth looking into what the company does. Zomedica is a provider of diagnostic and therapeutic products for the veterinary health industry. 

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These products are used to ease the lives of pets and the veterinarians that look after them. Its flagship product right now is known as Truforma, which is a diagnostic platform that the company has been commercializing heavily over the past few years. More recently, the company announced the appointment of Adrian Lock to lead its sales organization. 

“Adrian has been doing an outstanding job of building PulseVet sales in the equine market, and is a natural fit for him to lead the growing sales team as we launch shock wave therapy into the much larger, small animal market and continue to commercialize our TRUFORMA® platform.”

Larry Heaton, the CEO of Zomedica

Whether this exciting news makes ZOM stock worth adding to your list of penny stocks to watch or not is up to you. 

Penny_Stocks_to_Watch_Zomedica

Tellurian Inc. (NYSE: TELL) 

One of the larger gainers of the day on February 22nd is TELL stock. By EOD, shares of TELL had shot up by over 7%. And, since February 3rd, shares of TELL have shot up by over 17%, which is no small feat. 

While there is no company-specific news that is driving the price of Tellurian right now, there is a reason stemming from the oil and gas industry. Today, we witnessed the price of oil hit its highest levels since 2014. This is a big deal and sparked major gains around the energy industry during trading. 

And, with the shutdown of a major pipeline in Germany as a Russian sanction, we could continue to see the price of oil climb. So, while it is hard to say if TELL stock is worth buying or not, we do know that investors are showing bullish interest in the company. Considering that, will TELL be on your watchlist this week?

Penny_Stocks_to_Watch_Tellurian

Which Penny Stocks Are You Watching?

If you’re looking for penny stocks to buy, the best advice is to understand what is going on in the market. Right now, this includes Covid, tensions between Ukraine and Russia, inflation, and rising interest rates. All of this has made the stock market more volatile than it has been in years. Because of this, it is crucial to understand exactly what your strategy is and use it daily. 

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In addition, traders need to have a thorough understanding of their tolerance for risk. Because of the high rate of market fluctuations right now, we are likely to see prices continue to shoot up and down daily. So, with all of that in mind, which penny stocks are you watching right now?

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  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

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