Are These Penny Stocks on Your Watchlist After Today’s Session?
After a very positive day of trading penny stocks and blue chips, there is a lot for investors to understand right now. During trading, we saw the S&P 500 see its best-performing day in almost two years. And because of that, many are curious if penny stocks are worth buying or not. Penny stocks are not necessarily a bad investment, but there are some things that you need to be aware of before investing in penny stocks.
Are Penny Stocks Worth Buying?
Penny stocks are stocks that are traded for less than $5 per share. They are often considered to be high-risk investments because they are typically much more volatile than their blue chip counterparts. Now, it is definitely possible to make money trading penny stocks, but it is not easy. The key to making money trading penny stocks is to find the right penny stocks to invest in and to trade them correctly.
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There are a number of factors to consider when deciding whether penny stocks are worth buying. Some people believe that penny stocks are a good investment because they offer a high potential return on investment. Others believe that penny stocks are too risky and not worth investing in.
Ultimately, whether penny stocks are worth buying depends on the individual investor. If you are comfortable with the risks involved in penny stock investing and you have done your research, then penny stocks may be a good investment for you. With that in mind, let’s take a look at three penny stocks to watch after today’s stellar trading.
3 Penny Stocks to Watch Right Now
- Denison Mines Corp. (NYSE: DNN)
- BioNano Genomics Inc. (NASDAQ: BNGO)
- Arrival SA (NASDAQ: ARVL)
Denison Mines Corp. (NYSE: DNN)
During trading today, shares of DNN stock shot up by over 6.5%. This brings its one month gain to over 34%, which is no small feat. And, in the past twelve months, shares of DNN stock have climbed by over 74% to its current price of around $1.75 per share. While there is no company-specific news that is driving DNN stock right now, it did make an exciting announcement on March 3rd. On the 3rd, it reported its audited consolidated financial statements. In the statements, the company announced that it improved by quite a substantial amount over the previous year.
“Our results from 2021 reflect a significant improvement in the uranium market, as well as continued operational progress advancing Wheeler River’s Phoenix uranium deposit (‘Phoenix’) towards a development decision.
Our plans for 2022 are ambitious – with a primary focus on driving towards the completion of key technical and regulatory milestones for Wheeler River, while also supporting a secondary focus of unlocking value from Denison’s vast project portfolio.”
The CEO and President of Denison Mines, David Cates
Right now, there is a major emphasis on the uranium industry, and Denison is a sizable part of that. Considering this, will it be on your list of penny stocks to watch?
BioNano Genomics Inc. (NASDAQ: BNGO)
Another big gainer so far during trading today is BNGO stock. By EOD on March 9th, shares of BNGO had shot up by over 10% to more than $1.95 per share. This is a major gain and reflects both the biotech sector and the company as a whole. The most recent news from BNGO stock came on March 8th.
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On the 8th, it announced that it would be presenting at the 32nd Annual Oppenheimer Healthcare Conference on March 15th, 2022. At this conference, the company will present data on its corporate overview. Prior to this, the company announced its Q4 2021 results on March 1st. In the results, it posted full year 2021 revenue growth of more than 110% over the previous year. And, it ended the year with over $250 million in cash on hand.
“We believe 2021 was transformational for Bionano. Not only did we achieve our publicly announced anticipated milestones for 2021, we added a world-class software product through the acquisition of BioDiscovery and significantly enhanced our software development expertise.”
The CEO of BioNano, Eric Holmlin, PhD
While there is a long way to go for the company, all of this is exciting news. With that in mind, do you think BNGO is worth adding to your list of penny stocks to buy?
Arrival SA (NASDAQ: ARVL)
On March 9th, ARVL stock shot up by over 11% to more than $3.59 per share. Despite a more than 70% drop in value in the past six month period, ARVL stock has been moving upward in the last few trading sessions. The most recent announcement from the company came on March 2nd. On the 2nd, it reported its Q4 2021 financial results.
“2021 was a transformative year for Arrival where we saw our key technologies coming together in readiness for delivering vehicles to our first customers.
We have kicked off 2022 with a major achievement as our first Van skateboard structure was assembled robotically using both our technology cell and AMRs in our Bicester Microfactory – an important step towards full vehicle production.”
The CEO of Arrival, Denis Sverdlov
Despite its poor performance over the past year or so, it’s clear that investors are showing interest in ARVL stock. But, it’s high volatility could mean that it is worth keeping an eye on for the near future. With that in mind, will ARVL be on your penny stocks watchlist?
Which Penny Stocks Are You Watching?
Whether penny stocks are worth buying or not depends on your investment goals and risk tolerance. Now, penny stocks can be a great way to get started or to make money in the stock market if you’re willing to take on more risk.
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There are a number of penny stocks that are worth watching right now. Some of the best penny stocks are those that are growing quickly and have a solid track record. If you’re looking for stability, penny stocks may not be the best choice for you. However, if you’re willing to take on more risk, penny stocks can be a great way to grow your trading experience and portfolio.
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