3 Penny Stocks That You Should Add to Your Watchlist in April
If you’re thinking about investing in penny stocks, you’re definitely not alone. A lot of people invest in penny stocks because they believe it’s a good way to make money. And, for the most part, that’s true – penny stocks can be a great investment. However, there are also a lot of risks associated with penny stocks and investing in general.
Are Penny Stocks Worth It?
Because penny stocks are both speculative and reactive, they can be incredibly volatile and unpredictable. So, if you’re thinking about investing in penny stocks, it’s important to do your research first and understand the risks involved. That said, there are also a lot of great stocks out there that can provide you with a good return on investment in a more stable manor.
[Read More] 5 Penny Stocks For Your Energy Watch List This Week
If you’re looking for penny stocks that will make you money in a short time frame however, volatility will be your best friend. This is a metric used by swing traders to time their entries and exits. And, swing trading is geared heavily toward penny stocks due to their large and frequent movements.
But keep in mind that this trading style can also lead to swift losses if one is not careful. For example, two big gaining penny stocks today include Imperial Petroleum Inc. (NASDAQ: IMPP) and New Oriental Education & Tech Group (NYSE: EDU). This is a great show of how quickly and by how much we see small caps move.
In the end, it’s up to you to decide whether or not penny stocks are a good investment for you. But, with a little bit of research and understanding of the risks involved, penny stocks can be a great way to make money.
3 Penny Stocks For Your April 2022 Watchlist
- DiDi Global Inc. (NYSE: DIDI)
- Cenntro Electric Group Ltd. (NASDAQ: CENN)
- Progenity Inc. (NASDAQ: PROG)
DiDi Global Inc. (NYSE: DIDI)
DIDI is a penny stock that we have discussed frequently over the past few weeks. And today, shares of DIDI stock have shot up by over 1%. If that doesn’t sound like a lot, in the past five days, shares have climbed by over 65%.
During that time, we’ve seen shares of DIDI move in both directions, which illustrates its volatility. Over the past few weeks, a lot has happened with DiDi Global Inc. One of the biggest catalysts with DiDi came as China worked to regulate the tech sector heavily. This came shortly after DIDI IPO’d on the U.S. market with a more than $4.4 billion valuation.
[Read More] 3 Hot Reddit Penny Stocks to Add to Your Watchlist Right Now
If you’re not sure about what DIDI is, it is one of the largest ride-hailing companies in China. Because of this crackdown in the Chinese economy, DiDi has had some major issues with shareholder confidence. But, now that the company is seeing these small gains, some investors are excited about the future of the company. Considering this, will DIDI be on your list of penny stocks to watch or not?
Cenntro Electric Group Ltd. (NASDAQ: CENN)
One of the larger gainers of the day so far is CENN stock. Similarly to DIDI, we’ve covered CENN stock plenty in the past few weeks. And today, shares managed to climb by over 20% at midday. This brings its five day gain to a very sizable, 99% with its one month gain at more than 130%. The most recent news from Cenntro came on March 7th. On the 7th, the company announced the acquisition of a majority interest in Tropos Motors Europe. It states that this will expand the capability of its assembly and distribution networks in Europe.
“This acquisition will accelerate Cenntro’s expansion within EMEA (Europe, Middle East and Africa) and represents a significant step in the Company’s growth strategy to be a leading provider of electric commercial mobility.
Through this acquisition, we gain a significant geographical advantage and the addition of key management personnel within the European region, unlocking significant global growth opportunities for the Company.”
The CEO of Cenntro Electric, Peter Wang
Right now, there is a major emphasis on electric vehicles, and as an EV tech company, Cenntro is well positioned. Whether this makes it worth adding to your penny stocks watchlist is up to you.
Progenity Inc. (NASDAQ: PROG)
By midday, PROG stock had shot up by over 6%, bringing its five day gain to more than 34%. In the past six months, PROG has had a very solid trajectory with over 75% in gains. The most recent news from Progenity came on March 16th when it announced the date of its fourth quarter and full year 2021 financial results release.
It stated that these results will come out on March 28th after market close. Financial results are crucial to pay attention to if you’re interested in a company, and this date should definitely be on your calendar. If you’re not familiar, Progenity Inc. is a biotech company working on oral biotherapeutics, gastrointestinal health and women’s health products. All of this has helped to make a big name for itself in the biotech industry.
Only a few weeks ago, the company announced progress regarding its drug delivery system for patients with ulcerative colitis. This DDS or drug devilry system capsule, will hopefully allow patients to get medicine into their bodies more effectively. While the studies are still ongoing, the company states that it is so far safe and well tolerated. Considering all of this, do you think PROG is a penny stock to buy in April or not?
Which Penny Stocks Are You Watching Right Now?
Can you make money with penny stocks? It’s a question that many people ask, especially in light of the recent stock market crash. The answer is yes, you can make money with penny stocks, but it takes careful planning and strategy.
[Read More] Best Penny Stocks to Buy in April 2022? 3 to Watch Next Month
Given the massive amount of movement we’ve seen in both directions over the past few weeks, it’s clear that there is a lot going on in the stock market. And while this is not a bad thing, it is something to keep in mind. With that considered, which penny stocks are you watching right now?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!
