3 Penny Stocks to Add to Your Watchlist This Coming Week
Is investing in penny stocks worth doing right now? That’s a question that many people are asking, especially given the volatility of the stock market in recent months. The short answer is: it depends. There are pros and cons to investing in penny stocks, and it’s important to understand both before you make a decision.
When it comes to investing, there are several pros. This includes a high potential for returns, a great way to get started in the stock market, and a high amount of movement. On the flip side, investing can lead to quick and very sizable losses if not done correctly. So, is investing in penny stocks worth it? That depends on your individual circumstances and goals. If you’re comfortable with the risks, then it could be a good way to make some quick profits.
However, if you’re not comfortable with taking on more risk, then it may be best to stay away from penny stocks. The key is to focus on stocks that are trading for a low price per share, but have a good track record and strong fundamentals. And always remember to diversify your portfolio, so that you’re not risking too much money on any one stock.
3 Penny Stocks to Watch This Upcoming Week
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures is a penny stock that we have discussed numerous times in the past few months. And with some recent positive momentum, it’s clear that investors are interested in BBIG stock right now. One of the major benefits to investing in BBIG stock is its sizable volatility. With penny stocks, many choose to invest due to the swing trading potential.
And with BBIG, the large fluctuations means that the potential to make money in the short term can be quite high. Now, there are also a lot of downsides to that momentum. This includes losing money in a short time frame and all the usual issues with swing trading. In addition to this however, Vinco Ventures also does have a lot to offer individually. Several recent acquisitions made by the company including AdRizer, have brought new attention to BBIG stock.
While it is also known for being a Reddit penny stock, Vinco Ventures has worked to show investors that it has real value. With its past few months performance as nothing to write home about, it’s clear that investors should be cautious with BBIG stock. However, due to its large price movements, it could be worth adding to your penny stocks watchlist.
Camber Energy Inc. (NYSE: CEI)
Camber Energy is another popular penny stock that investors are constantly watching. Similarly to BBIG, CEI stock is often discussed on social media platforms such as Reddit and Twitter. And because of that, we have covered Camber Energy numerous times in the past few months. In the last month alone, shares of CEI stock have climbed by over 50%.
One of the main reasons for its recent gains comes alongside the crisis in Ukraine. With the price of oil and gas skyrocketing to high levels, corresponding energy stocks have also been on the rise. While CEI is not as pure play as some other energy stocks, it is a relatively sizable player in the industry. And due to its popularity, it has climbed because of this.
[Read More] How Today’s Fed Meeting Will Impact Penny Stocks
Now similar to Vinco Ventures, it’s important to understand that Camber Energy is highly volatile. This means that its price is likely to fluctuate substantially during any given trading day. But, with the recent momentum that CEI stock has been showing, it’s clear that investors are interested in the company. Considering all of this, do you think that CEI stock is a worthwhile addition to your list of penny stocks to buy?
Denison Mines Corp. (NYSE: DNN)
In the past one month and one year period, shares of DNN stock have climbed by over 19% and 24% respectively. While this is not as much as some other penny stocks, it is still substantial. So, to understand whether DNN stock is worth buying or not, let’s take a closer look at the company and what it does. A few weeks ago, Denison reported its consolidated financial statements for the year ended on December 31st. In the report, the company made large strides in its business.
“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. Less than twelve months ago, Denison completed a novel project financing initiative in support of the future development of the Wheeler River project.”The CEO and President of Denison Mines, David Cates
Cates also stated that the company has seen a $41.4 million gain in its physical uranium holdings. This is a substantial amount and does help to explain some of the recent momentum we’ve seen with Denison Mines. So, do will DNN be on your list of penny stocks to watch this coming week or not?
Which Penny Stocks Are You Watching Right Now?
There’s no doubt that penny stocks can make you money, but there’s also no guarantee. The best penny stocks to buy are those that have a history of steady growth and a strong balance sheet.
Always make sure to do as much research as possible before investing in any stock, and never invest more than you can afford to lose. With this in mind, which penny stocks are you watching right now?