3 Penny Stocks to Watch Right Now With the Stock Market Climbing
If you’re like most people, you’re always on the lookout for penny stocks that are primed to take off. Unfortunately, finding the best penny stocks to buy can be difficult, particularly if you don’t have a lot of experience in the stock market.
One great way to find stocks that are trending is to look at penny stocks. Penny stocks are stocks that are trading for less than $5 per share. Because they are so cheap, they tend to be more volatile than other stocks. This means that they can go up or down in value very quickly.
If you’re looking for penny stocks that are trending, one great place to start is with a stock screener. A stock screener is a tool that allows you to find stocks that meet certain criteria. For example, you can use a stock screener to find stocks that are trading for less than $5 per share, or stocks that have been increasing in value over the past week.
Right now, some popular penny stocks that investors are watching include Vinco Ventures Inc. (NASDAQ: BBIG) and Gaotu Techedu Inc. (NYSE: GOTU). But, understanding exactly what your tolerance for risk will help you to know which penny stocks are right for you. With that in mind, here are three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- DiDi Global Inc. (NYSE: DIDI)
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Kingsoft Cloud Holdings Ltd. (NASDAQ: KC)
DiDi Global Inc. (NYSE: DIDI)
Up by over 3.4% at midday are shares of DIDI stock. We’ve discussed DIDI numerous times in the past few weeks due to its consistent market movement. Now, over the last six months, shares of DIDI stock have dropped by over 75% in value.
However, since its major drop around a week ago, many investors have been interested in the company. To understand why, we have to take a closer look at why shares of DIDI stock have dropped recently. On March 11th, news dropped that the company would be halting its prep for a listing on the Hong Kong Stock Exchange.
While the company listed on the NYSE despite Chinese regulators desire for it to do so, the company has since faced backlash. A few months back, it stated that it would be delisting from the NYSE due to privacy concerns, but, this latest news shows that it is not doing so. Because of this, shares of DIDI stock dropped substantially.
Last year, the Chinese government began to regulate the tech industry heavily, with DiDi being a main prospect for it. However, since then, shares had been climbing prior to this recent announcement. Considering that, will DIDI be on your list of penny stocks to buy or not?
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
Another penny stock that we’ve been discussing frequently over the past few months is KAVL stock. With a 26% gain during trading today, shares of KAVL stock are up by over 140% YTD. The most recent news from Kaival Brands came on February 16th, when the company announced its 2021 year end results. In the results, the company posted that it was the number 1 disposable ENDS device for the 52-week period ending on January 29th, 2022.
“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 to stay in business and continue maturation of the Company in 2021, including uplisting to Nasdaq and completing our first underwritten public offering.”The CEO of Kaival Brands, Niraj Patel
With over $58.8 million in revenue for the full year, its clear that KAVL stock is making progress. Considering this, will KAVL stock be on your penny stocks watchlist this month?
Kingsoft Cloud Holdings Ltd. (NASDAQ: KC)
By midday, KC stock had climbed over 25%despite a six month drop of almost 90%. As a result, many investors believe that this could be a bullish turnaround for KC stock. To understand why shares of KC stock are climbing, we can look at some recent announcements from the company. One of the main reasons comes as Chinese stocks saw a major decline during trading yesterday on March 14th.
Only recently, J.P. Morgan stated that Chinese tech stocks are ‘uninvestible’, which was not an ideal sentiment for investors to discover. And, it among other factors resulted in a major selloff of Chinese stocks of all types. Right now, there is also a major threat of many of these companies being delisted from U.S. exchanges. Because of this, investors are fearful, however, they are also betting on the high volatility of these companies.
Because many choose to swing trade penny stocks, large price fluctuations can offer the opportunity to make money in the short term. So, while KC stock should be avoided for those with a lower risk tolerance, it could be worth watching for others. With that in mind, do you think KC stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now
If you’re looking for stocks to buy, it’s important to consider all of your options. And in 2022, the sheer amount of volatility means that making money with penny stocks is challenging.
But, with the right information on hand, making a decision as to which penny stocks are worth it can be much easier than previously imagined. Considering all of this, which penny stocks are you watching right now?