3 Penny Stocks to Add to Your Watchlist This Week
There are a number of ways to find penny stocks that may be worth investing in. Before going any further, it’s crucial to understand your own investing style and goals. Some people are willing to take on more risk for the potential of higher rewards, while others prefer a steadier approach with lower risks.
Once you know your investing style, you can start researching penny stocks. A good place to begin your search is through finding trending penny stocks. These stocks have become extremely popular among short term swing traders due to their frequent movements and large volume. To find these stocks, you can use a variety of financial resources including online brokerages, stock scanners, and news websites.
Another way to find penny stocks is to look for companies that have recently had positive news or events. This could be anything from a new product launch to an FDA approval and more. When a company has good news, it typically leads to an increase in their stock price. This is a great way to find companies that may be undervalued and have potential for growth. However, keep in mind that bad news can do the complete opposite. So, make sure you know exactly what you’re looking for when utilizing news and press releases to find penny stocks to buy.
Once you’ve found a few penny stocks that you’re interested in, it’s important to do your own due diligence before investing. This includes research on the company, their financials, and the overall market conditions. It’s also a good idea to read up on investing in penny stocks so you understand the risks involved. With all of this in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks For Your Watchlist Right Now
Exicure Inc. (NASDAQ: XCUR)
Up by over 2.4% at EOD are shares of XCUR stock. During trading today, we’ve seen a sizable amount of bullish sentiment with the biotech industry as a whole. Because every biotech stock is different, we have to take a closer look at XCUR and what the company is doing right now.
The most recent news from Exicure came on March 25th. On the 25th, it announced its full year 2021 financial results as well as certain corporate progress updates. In the announcement, it stated that it is advancing the preclinical discovery of its SCN9A program. And, it should have results from animal studies by the end of this year.
“This past year brought significant challenges to our organization that prompted strategic decisions at year-end to refocus our business strategy on our next generation pipeline and investments in neuroscience in order to be cash efficient.
Entering 2022, I believe we are off to a good start as we have now fully aligned our resources to support development of our preclinical programs targeting SCN9A for the treatment of pain and advancement of ongoing discovery associated with our Ipsen and AbbVie partner programs.”The CEO of Exicure, Matthias Schroff, Ph.D.
As stated earlier, the large bullish sentiment in the biotech industry seems to be driving price movement today. Because there is no company-specific news from XCUR stock, it’s clear that this is the case. With that in mind, will XCUR be on your penny stocks watchlist or not?
Sos Ltd. (NYSE: SOS)
Sos Ltd. is a penny stock that we have covered numerous times in the past few months. And today, shares of SOS stock managed to shoot up by more than 3%. While shares have fallen by over 90% in the past year, it does look like we are seeing a small bullish rebound in the past few trading days. One of the main drivers of SOS stock is the price of Bitcoin.
Because SOS is a provider of cryptocurrency mining solutions alongside other tech products, it has a major correlation to the cryptocurrency industry. The most recent news from the company came today as the company announced the launch of a North America operations and super-computing center in Wisconsin. In the past nine months, the company has worked to develop this joint venture which will host super-computing servers in containerized data centers.
“The initial launch of our mobile smart data hosting center solidifies our ongoing strategic transformation and our continued investment in North America. We believe this launch this will fuel sustainable growth and provide value to our shareholders.”The CEO of Sos, Mr. Yandai Wang
Whether this makes SOS stock worth adding to your list of penny stocks to buy, is up to you.
Transocean Ltd. (NYSE: RIG)
Another penny stock that is climbing during trading right now is Transocean Ltd. By EOD on April 12th, shares of RIG stock had shot up by more than 2.8%. This gain puts its one month and six month uptick at over 4.8% and more than 10%. And, in the past year, shares of RIG stock have exploded by more than 37%.
This is a mixture of bullishness on the energy industry and RIG stock itself. The most recent news from the company came on March 29th. On the 29th, the company announced its investment in Ocean Minerals Ltd. Ocean Minerals works in the exploration of seabed resources that could be used in the production of renewable energy sources.
“The technical challenges associated with the efficient recovery of deepsea polymetallic nodules represent an opportunity for Transocean to leverage our unique offshore expertise in support of the rapidly emerging energy storage market.”The CEO of Transocean, Jeremy Thigpen
With all of that in mind, do you think RIG is a penny stock to buy or not?
Are Penny Stocks Worth Investing In?
Because there is so much volatility in the stock market right now, investors need to understand exactly what is going on and how to take advantage. If you’ve traded penny stocks in the last few months, you’ve likely seen just how speculative they are.
Because of this, knowing how certain events will impact your portfolio is crucial to making money with penny stocks. While making money with small caps can be tough, it is more than possible. So, with all of this in mind, do you think penny stocks are worth investing in or not?