3 Hot Penny Stocks to Watch in April 2022
If you’re thinking about buying penny stocks in April, you’ll want to be aware of the key factors that could affect your investment. The stock market is always changing, and it’s important to stay up to date on the latest news and trends. With penny stocks, we tend to see speculation as the main cause for movement.
So, if you’re thinking of buying stocks in April, it’s important to be aware of the latest rumors and news stories that could affect the market. Not only will these affect larger industries, but they will likely impact individual stocks as well. In the past week or so, we’ve seen a bullish turnaround from where penny stocks and blue chips were only a few days prior. And as a result, some investors are excited about what the future could hold.
Now, while the market will never be bearish or bullish forever, it all comes down to being able to benefit from either no matter the conditions. In addition to all of this, it’s crucial that investors understand what their own tolerance for risk is.
That will help to define which penny stocks you may want to add to your watchlist, and which may be worth avoiding. At the end of the day, buying stocks can be a great investment if you take all the proper steps. With that in mind, let’s take a look at three penny stocks that are climbing right now.
3 Penny Stocks to Add to Your Watchlist This Coming Month
- NanoVibronix Inc. (NASDAQ: NAOV)
- Imperial Petroleum Inc. (NASDAQ: IMPP)
- TMC The Metals Company Inc. (NASDAQ: TMC)
NanoVibronix Inc. (NASDAQ: NAOV)
One of the bigger gainers of the day so far is NAOV stock. At midday, shares of NAOV had shot up by more than 30%. This is a major gain and reflects big news that came from the company during morning trading. And before we get into it, it’s worth noting that NAOV stock has shot up by more than 63% in the past month.
Today, the company announced that its PainGuard and UroGuard products were approved by Health Canada as licensed medical devices. These Surface Acoustic Wave (SAW) portable ultrasonic therapeutic devices will be offered through Ideal Medical International Ltd.
“This license clears the way for our distribution partner, Ideal Medical, to accelerate distribution of our products in Canada, another catalyst for our potential future growth and international expansion. According to the Canadian Pain Task Force1, nearly eight million, or one in four Canadians aged 15 or older live with chronic pain.
Our pain management products are safe and effective alternative treatment to prescription opioids, which have been the root cause of a number of unintended consequences including overdose and death.”The CEO of NanoVibronix, Brian Murphy
This is all very exciting news for investors and the company alike. And as a result, it makes sense that shares of NAOV stock would climb substantially during trading today. So, whether NAOV stock is worth adding to your list of penny stocks to buy or not is up to you.
Imperial Petroleum Inc. (NASDAQ: IMPP)
Another big gainer of the day on March 30th is IMPP stock. By midday, shares of IMPP stock had shot up by around 4.2% to more than $1.60 per share. Despite some major gains in the past few weeks, we’ve seen a correction with shares of IMPP stock recently.
The latest news from the company came on March 27th. On the 29th, the company released its Q4 2021 and full year operating results. In the results, it posted Q4 revenue of $4 million which is a decrease of $1.6 million over the same quarter of the previous year. It states that this is due to both a decrease in time and charter rates during that time.
“Since becoming an independent public company, Imperial Petroleum has had an outstanding course. The daily share trading volume has stunned all of us and investors expressed their trust in our Company’s vision by helping us raise about $90 million of new equity.”The CEO of Imperial Petroleum, Harry Vafias
The big story here has to do with the company’s ability to raise significant funds recently. This is partly due to its own capital raises and partly due to the stock gains that it has seen as a result of its status as a trending penny stock. So, keeping all of this in mind, do you think that IMPP stock should be on your penny stocks watchlist or not?
TMC The Metals Company Inc. (NASDAQ: TMC)
Another major gainer of the day on March 30th is TMC stock. By EOD, shares of TMC had shot up by over 20% to more than $2.16 per share. This is a substantial gain that reflects speculation in the market right now. While there is no news that is specifically moving TMC stock, the company is gaining due to announcements from the Biden administration regarding the potential invoking of the Defense Production Act.
As a result, many investors have moved toward mining stocks in the past day or two. The goal with the Defense Production Act would be to produce more minerals that are used in the creation of electric batteries and their components. And as you may or may not know, The Metals Company is a big producer of lithium, cobalt, manganese, nickel and more. Because of this, many traders are watching TMC stock right now. But, whether this makes it worth adding to your penny stocks watchlist or not is up to you.
Can Penny Stocks Continue to Climb?
With so much movement occurring with penny stocks and blue chips right now, there is a lot for traders to keep track of. As a result of the sheer number of factors that are impacting the stock market, it is more prudent than ever to know how events may impact your portfolio. Considering all of this, do you think that penny stocks can continue to climb in the coming weeks or not?