3 Penny Stocks to Add to Your March Watchlist
If you’re looking to find the best penny stocks to buy, there are hundreds of options to choose from. In 2022, there is also a large range of factors that are impacting the stock market. This has resulted in a level of volatility that we have not seen in many months.
While some shy away from volatility, others tend to use it as a way to make money with penny stocks. This is due to the low price of small caps, and the fact that most traders tend to use a swing trading method with them. If you’re not familiar, swing trading is a type of trading where you hold stocks for a period of hours, days or weeks, as opposed to months or years.
No matter what, if you are looking to invest in penny stocks, there are a few things you need to know. The first is that penny stocks or blue chip stocks are not guaranteed to make you money. In fact, investing in penny stocks without proper knowledge, is an easy way to lose your entire investment.
The second thing to understand is that the speculative nature of the stock market right now, means that investors need to pay attention to anything and everything that is going on. So, with all of that in mind, let’s take a look at three penny stocks that investors are watching right now.
3 Penny Stocks to Watch in March 2022
Jaguar Health Inc. (NASDAQ: JAGX)
Jaguar Health is a penny stock that we have covered numerous times in the past few months. And at EOD on March 31st, shares of JAGX stock managed to explode by over 32%. While we do see large gains like this with penny stocks without any news, Jaguar Health made an exciting announcement only hours before EOD.
The company stated that it has entered into an exclusive distribution and license agreement with Quadri Pharmaceuticals for multiple retarget indications for Middle Eastern markets. This concerns its Crofelemer product, which has a large range of potential treatment cases as is.
“We are very pleased to enter into this strategic transaction with Jaguar Health. We expect crofelemer to be an important treatment option for patients in need in Bahrain, Kuwait, Qatar, Saudi Arabia, the UAE, and Oman, and we have knowledge and experience in the distribution of pharmaceutical products throughout the Middle East, including the servicing of requests for a particular medicine in markets where that medicine does not have marketing approval.”The CEO of Quadri Pharma, Dr. Hesham Elbakr
This is a major deal for the company and should continue to play out as we move into the future. So, whether JAGX belongs on your list of penny stocks to watch or not is up to you.
Ambev ADR (NYSE: ABEV)
Another penny stock that investors are watching right now is Ambev ADR. We have covered ABEV stock numerous times since the start of the pandemic as it has continued to be a trending penny stock. With over 2.8% in gains at EOD on March 31st, it’s clear that investors are excited about ABEV stock right now. In the past five days, shares of ABEV have climbed by almost 10% and in the past month by almost 15%.
As a major producer and distributor of alcoholic beverage products, the demand for what Ambev is producing has continued to rise in the past year. Despite this, Ambev did see its profit drop as a result of the pandemic’s effects on production. While it’s tough to say why ABEV stock is climbing right now, there are a few reasons we can consider.
For one, during times of both economic turmoil and prosperity, we tend to see sales of alcoholic beverages rise. And, with travel resuming as the pandemic continues to slow in severity, Ambev could see increasing demand. While a lot of this is purely speculation right now, we are seeing sizable bullish sentiment with Ambev stock right now. Whether this makes worth adding to your penny stocks watchlist however, remains your choice.
Vinco Ventures Inc. (NASDAQ: BBIG)
Another penny stock that investors should be quite familiar with is Vinco Ventures. At EOD on March 31st, shares of BBIG stock managed to shoot up by more than 2.5%. This is a sizable gain and adds to a one month uptick of more than 30%. One thing to keep in mind is that BBIG stock is often discussed as a meme stock. These are stocks that tend to rise and fall based on social media sentiment.
Because of this, BBIG can see massive price swings depending on what is going on in the stock market and how much it is mentioned across platforms like Reddit and Twitter. While there hasn’t been any recent news for BBIG stock, we have continued to see shares climb in the past few trading days. But, this is a common occurrence with trending stocks, and something that we will likely continue to see in the coming days. With that in mind, is BBIG stock worth buying or not?
Which Penny Stocks Are on Your Buy List?
Are penny stocks worth investing in? That depends on a few things. Penny stocks can be a great way to make money, but they can also lead to major losses if you’re not careful. Before you invest in stocks, you need to understand what they are, how they work, and what your own trading strategy is.
All of this will help you to have the best chance of making money in the stock market whether that be with penny stocks, blue chips, or both. Considering all of this, which penny stocks are on your buy list right now?