3 Penny Stocks to Watch Right Now With Russia’s Invasion Moving Forward
With so much going on in the stock market right now, finding penny stocks to buy is a crucial step to profitability. While it may seem easier said than done, doing so involves understanding exactly where to look. Right now, the largest impacting factor on penny stocks and blue chips, is the invasion of Ukraine by Russia. In the past few weeks, this has resulted in major drops in the stock market on a regular basis.
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So now, investors are using this as a consistent factor in their stock trading decisions. As always, thinking outside of the box can help traders to see which penny stocks could be worth buying and which might be worth avoiding. And, as we continue to see the stock market move in a highly volatile pattern, this is paramount to making money with small caps. With that in mind, here are three penny stocks to watch as the Russia-Ukraine conflict continues to unfold.
3 Penny Stocks For Your Watchlist Right Now
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Microvision Inc. (NASDAQ: MVIS)
- GoHealth Inc. (NASDAQ: GOCO)
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
One of the bigger gainers of the day is KAVL stock. By EOD, shares of Kaival Brands shot up by over 5%, bringing its five day gain to over 21%. And, in the past month, shares have exploded by more than 169% with a YTD gain of over 290%. The latest update from the company came on February 16th, when it announced its fiscal 2021 year end results. In the results, the company stated that it ended the 52-week period on January 29th, 2022, as number one in the disposable ENDS market.
“Fiscal year 2021 was a very challenging year, especially because of FDA’s marketing denial order, or MDO, for Bidi Vapor’s non-tobacco flavored BIDI® Stick ENDS, which caused irreparable harm to both Bidi Vapor and Kaival Brands. However, we were pleased that the court ultimately agreed to stay the MDO, and that we were able to make key strategic decisions.”
The CEO of Kaival Brands, Niraj Patel
Financially, the company reported revenue of $58.8 million which is slightly lower than the previous quarter. Additionally, it stated that it completed a public offering and uplisting onto the NASDAQ. And, with a global market for ENDS products potentially hitting $36.7 billion this year, Kaival has a lot of potential on the horizon. With all of that considered, do you think that KAVL stock is worth adding on to your penny stocks watchlist?
Microvision Inc. (NASDAQ: MVIS)
Another penny stock that is climbing right now is MVIS stock. By EOD on March 4th, shares of MVIS stock had shot up by over 6.5% to more than $4.31 per share. This is a sizable uptick and gives it a five day and one month gain of over 17% and 36% respectively.
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Now, the most likely reason behind these gains is MVIS’s fourth quarter and full year results which were reported on February 24th. In the results, the company stated that it made significant progress. It increased its cash position by more than $100 million, ending the year with over $115 million in cash. With revenue climbing slightly to $0.6 million, the company did increase its net loss slightly to $12.5 million.
“MicroVision made significant progress in 2021, delivering our 1st generation Long Range Lidar sensor early in the year, demonstrating its best-in-class cost advantages and key features, and receiving positive feedback and continued interest from automotive OEMs and Tier 1 suppliers. We look forward to track testing our high-speed Highway Pilot system in the U.S. and Germany in Q2 2022.”
The CEO of Microvision, Sumit Sharma
If you’re not familiar, Microvision works in the field of MEMS based laser beam scanning. This allows it to produce advanced LIDAR sensors for everything from assisted driving to micro-display engines for augmented reality. And, in the past few months, the company has continued to garner popularity in the stock market. So, with all of this exciting news in mind, will MVIS be on your list of penny stocks to watch or not?
GoHealth Inc. (NASDAQ: GOCO)
During trading on March 4th, shares of GOCO stock shot up by over 3.3%. In the past few months, we’ve covered GOCO stock numerous times. And after a 51% loss in the past month, investors are hopeful that GOCO stock could see a bullish turnaround in the near future. Now, while that remains to be seen, it’s worth looking into why shares of GOCO stock are climbing right now after falling substantially.
A few days ago, the company reported preliminary fourth quarter and full year 2021 results. In the results, the company stated that it expects its net revenue to be around $425-$470 million with a net loss in the range of $38.8 million to $52.7 million. These numbers are disappointing for investors as its EBITDA is expected to be below $8.5 million compared with $169 million in the prior year.
So, while these results are not ideal, it looks like we have seen the brunt of the bearish sentiment with GoHealth recently. Right now, there is also a sizable amount of volatility in the stock market, and especially in the biotech industry. And as a popular penny stock, GOCO is subject to a high degree of this volatility. So, with all of that considered, do you think GOCO stock is worth buying this month?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. While it is highly challenging to do so, having the right amount of information on hand and a thorough understanding of how to trade penny stocks, can help with this task greatly.
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And, knowing what your tolerance for risk is, will help you to narrow down which penny stocks are worth investing in and which are not. So, with all of that in mind, which penny stocks are you watching right now?
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