3 Penny Stocks That Investors Are Watching in April 2022
Investors are always looking for the best time to buy penny stocks, and there is no surefire answer. However, history shows that April can be a good month to buy penny stocks. When it comes to buying and selling penny stocks, however, the most important aspect is your own trading strategy and risk tolerance.
Penny stocks are notoriously volatile, so it is important to have a well-thought-out plan before investing. For example, some investors may want to set a limit on how much they are willing to lose per trade. Others may choose to only invest in companies that have positive earnings reports. Regardless, knowing what type of trader you are and how to use that as an advantage, will be a crucial step.
Recently, we’ve also seen a major amount of volatility as a result of conflict in Ukraine, rising oil prices, inflation, and interest rate hikes. So, make sure that you keep all of that in mind when investing this month. Considering this, let’s take a look at three penny stocks to add to your April watchlist.
3 Penny Stocks to Add to Your April 2022 Watchlist
- Denison Mines Corp. (NYSE: DNN)
- Guardforce AI Co. Ltd. (NASDAQ: GFAI)
- Harmony Gold Mining Co. (NYSE: HMY)
Denison Mines Corp. (NYSE: DNN)
By EOD, shares of DNN stock had shot up by more than 10.8%, which is quite substantial. While this is a big deal for any penny stock, we do not typically see moves this large in the mining industry. For that reason, it’s worth taking a closer look at why DNN stock is climbing right now. Looking at the news, it’s tough to say why shares of DNN are pushing up as no announcements have come out.
However, as a uranium mining stock, the company is a major player in the renewable energy industry. And because of this, it has received a sizable amount of attention in the last few weeks. The most recent announcement from Denison Mines came a week or so ago when the company announced there discovery of high-grade uranium mineralization. It found this at its 24.7% owned Waterfound River property.
“Denison is appreciative of the efforts of Orano Canada to breathe new life into Waterfound. Denison has a unique partnership with Orano – as joint owners of the McClean Lake mill and the nearby Midwest project. This discovery at Waterfound is well situated relative to the McClean Lake mill and has the potential to translate into a further important source of future mill feed for the McClean Lake joint venture.”The CEO of Denison Mines, David Cates
While DNN stock is quite volatile, the company has seen over 30% in gains in the past six months. Considering this exciting news, will DNN be on your penny stocks watchlist or not?
Guardforce AI Co. Ltd. (NASDAQ: GFAI)
Another sizable gainer and a penny stock that we have discussed numerous times is GFAI stock. By EOD, shares of GFAI stock have shot up by over 4.8%. If that doesn’t seem like a lot, in the past month shares of GFAI stock have exploded by more than 150%.
This is a very sizable amount and one of the main reasons that we have covered GFAI stock so many times in the past few weeks. The main news from the company recently came yesterday when it announced the pricing of its $10 million registered direct offering. The company stated that it will sell 8.7 million shares at a price of $1.15 per share. This will be used for corporate purposes and more likely to take advantage of its recent moves.
Around a week or so ago, the company also announced its year-end 2021 results. In the results, the company stated that it hit a milestone, deploying more than 1,400 robots in the Asia-Pacific region. For some context, Guardforce AI is a provider of robotic solutions and information security with more than 40 years of experience in the industry. While shares of GFAI stock have been volatile lately, it also is showing a lot of potential. With that in mind, will GFAI be on your list of penny stocks to buy?
Harmony Gold Mining Co. (NYSE: HMY)
While no news has come out from HMY stock in the past week or so, we have seen shares begin to climb. In the past six months, shares of HMY stock have shot up by over 35%. Considering this, we see how tough it is to understand why HMY is moving.
One of the main reasons comes as Harmony Gold is climbing is due to the price of gold and how investors are viewing the shiny substance. During times of both economic prosperity and instability, investors will often turn to gold as a way to safeguard their investments. This makes sense as gold does not tend to fluctuate greatly in value.
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And although we have seen major issues like Covid begin to calm down, there are still a variety of factors that are causing major instability in the market. One thing to consider is that if issues continue to arise, we may see the price of gold continue to move. However, we should also take a look at any news specific to the gold mining industry or Harmony Gold itself. With that considered, do you think HMY stock is worth buying or not?
Are Penny Stocks on Your Watchlist Right Now?
As we continue to move into the future, there is a lot for investors to understand about trading penny stocks. Now, it is complicated to make money with small caps, however, it can be much easier with the correct information on hand. With that in mind, which penny stocks are on your watchlist right now?