3 Penny Stocks That Retail Traders Are Watching in March 2022
With another day of trading penny stocks done, there is a lot for investors to consider. One of the most interesting trends happening in the stock market today with penny stocks is the increasing role of retail traders.
Retail traders are individual investors who trade stocks and other securities for their own account. In contrast, institutional investors are often trading on behalf of entities such as mutual funds, pension funds, and more. The rise of retail traders has been spurred by a number of factors, including the growth of online trading platforms and the availability of low-cost investment products.
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In addition, retail traders have benefitted from the bull market that has raged for the past few years. However, in the last couple of months, trading penny stocks and blue chips has been much more difficult. Because of this, retail traders are more picky than ever. And before even thinking about investing, it’s crucial to know what penny stocks are
What Are Penny Stocks?
Penny stocks are stocks that are bought and sold for less than $5 per share. Many times, they are not as well known or as liquid as stocks that trade on the bigger exchanges. For this reason, penny stocks can be more volatile and risky investments.
So, why invest in penny stocks? Well, some people invest in penny stocks because they believe that the companies are undervalued and have the potential to go up in price in the long run. Others invest in penny stocks because they believe the high volatility can inherently result in making a quick profit.
Some popular penny stocks right now include Hoth Therapeutics Inc. (NASDAQ: HOTH) and TMC the metals company Inc. (NASDAQ: TMC). Both of these have seen significant gains recently, and for that reason, are in focus. With this in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist This Month
- Ion Geophysical Corp. (NYSE: IO)
- Ageagle Aerial Systems Inc. (NYSE: UAVS)
- Eco Wave Power Global (NASDAQ: WAVE)
Ion Geophysical Corp. (NYSE: IO)
By EOD on March 10th, shares of IO stock had shot up by over 12.3%. This is a substantial increase, however, IO stock has exploded by over 114% in the past five days. And if that’s not enough, in the last month, IO stock has shot up by more than 135%.
The main reason for this gain comes as the company is in the energy industry. And as we’ve seen in the past few weeks, the price of oil and gas has shot up tremendously. So, what exactly what Ion do? Well, the company works on the production of innovative technologies for use in both offshore energy and maritime operations. This allows its clients to access high quality data, reporting, and analytics that can help them to run smoother.
The most recent news from the company came on March 9th. On the 9th, it announced that some holders of its second priority 2025 notes, have extended their forbearance. This is positive news for Ion’s fiscal situation, and could reflect well on it moving forward. With all of this in mind, do you think IO stock is worth buying right now or not?
Ageagle Aerial Systems Inc. (NYSE: UAVS)
During trading on March 10th, UAVS stock managed to climb by over 11%. While shares of UAVS stock have dropped by over 65% in the past six months, it’s cleat that we’re seeing a small bullish turnaround for the company right now. So, is UAVS stock worth buying right now or not?
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To understand this, we have to take a look at why it’s climbing and what its most recent news is. The big news for UAVS stock came during premarket trading today. It stated that it’s subsidiary, senseFly, has been selected as a Blue UAS approved drone supplier.
“The eBee TAC is ideally positioned to become an in-demand, mission critical tool for the U.S. military, government and civil agencies and our allies worldwide.
We expect this to be a major growth catalyst for AgEagle in 2022, positively impacting our financial performance in the years ahead as AgEagle solidifies itself as the go-to source for high performing, state-of-the-art full stack drone solutions that get the job done.”
The CEO and Chairman of Ageagle, Barrett Mooney
This is big news for the company and should result in continued attention to it moving forward. With this considered, will UAVS be on your penny stocks watchlist?
Eco Wave Power Global (NASDAQ: WAVE)
By EOD on Thursday, WAVE stock had traversed penny stocks territory, climbing by over 25% to more than $6.25 per share. This substantial gain caps off WAVE’s five day gain of more than 83%. So, why are shares of WAVE stock climbing right now? The biggest news from the company came around a week and a half ago when it announced its Q4 and full year 2021 financial results.
“Eco Wave Power enters 2022 poised for rapid and material progress. Installation of the floaters at the Port of Jaffa, Israel is underway, and we plan to connect our newest wave energy installation to Israel’s power grid in the coming months. In Portugal, we are advancing our largest and most significant deployment to date.”
CEO of Eco Wave Power, Inna Braverman
Financially, the company managed to decrease its net loss to SEK -4.6 million compared to SEK -6.7 million in the year period. With increased revenue as well, WAVE could be worth adding to your list of penny stocks to watch in March.
Which Penny Stocks Are You Watching?
There’s no doubt that investing in penny stocks can be lucrative. However, it’s also important to remember that there is risk involved in trading penny stocks, and that not everyone will make money in the stock market.
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Before deciding whether or not to invest in stocks, you should carefully weigh the risks and rewards and make sure you understand what you’re getting into. With that in mind, which penny stocks are you watching right now?
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