3 Penny Stocks to Add to Your Watchlist This Coming Week
There’s a lot of debate surrounding penny stocks – are they worth investing in? Some people believe that penny stocks are a huge gamble, while others view them as a great way to make money. So, what’s the truth? Are penny stocks worth it?
The truth is that penny stocks are worth it for some and not for others. Before moving forward with buying penny stocks, you should understand both the risks and rewards involved. In addition, investors need to consider their own investing style and what their goals are.
While penny stocks can be highly volatile, there are a lot of positives. On the plus side, penny stocks offer investors a high degree of liquidity. This means that you can buy and sell them quickly and easily. That is the result of extremely high volume with some, however, this is not the case with all. In addition, because penny stocks are under $5, they are very accessible to investors of all types.
However, because of the low price, penny stocks are also subject to a very high degree of speculation. This means that they will move frequently based on news and events. While this can be scary for some investors, others may find this to be a useful tool for making money. So, with all of this considered, let’s take a look at three penny stocks to add to your watchlist.
3 Penny Stocks to Watch This Week
- Polarityte Inc. (NASDAQ: PTE)
- Lixte Biotechnology Holdings Inc. (NASDAQ: LIXT)
- RLX Technology Inc. (NYSE: RLX)
Polarityte Inc. (NASDAQ: PTE)
Polarityte Inc. is a penny stock that we have covered multiple times in the past few months. And with a five-day uptick of more than 30%, it’s clear that there is a sizable bullish interest in PTE stock right now. While PTE is highly volatile, the company does look like it has a lot to offer. And with the rise in bullish momentum for the biotech industry as of late, Polarityte is worth taking a closer look at.
Now, one of the reasons that Polarityte has been gaining in recent sessions is due to its position as a meme stock. These are penny stocks that are trending online and rise or fall as a result. However, PTE has a lot to offer investors as it is working on the production of SkinTE, which recently received FDA approval for a Phase 3 study. The company states that this product could be a game changer when it comes to addressing cutaneous ulcers in diabetic patients. So, with all of this in mind, will PTE be on your penny stocks watchlist or not?
Lixte Biotechnology Holdings Inc. (NASDAQ: LIXT)
Another penny stock that investors have been watching recently is LIXT. While it did fall by almost 20% in value on Thursday, April 14th, we have seen over 38% in gains in the past five day period for LIXT stock. The majority of this came on April 12th when shares of Lixte Biotech exploded by almost 300% during midday trading.
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The big news came as the company announced a $5.8 million registered direct offing priced at-the-market during that time. With these, the company plans to move forward with working capital and general expenses for the development of LB-100. LB-100 is its leading clinical compound, and it states that it is tolerated at doses showing large anti-cancer properties.
This is a major breakthrough and it states that this drug could be used for patients going through chemotherapy or immunotherapy treatments. In addition, there are no known competitors that are approaching this in the same way as LIXT, adding to the potential that investors see in the company. While LIXT stock is extremely volatile, it could be worth adding to your list of penny stocks to watch.
RLX Technology Inc. (NYSE: RLX)
Keeping with the theme of large-moving stocks, we see RLX Technology. In the past five days, shares of RLX stock have shot up by more than 13%. This is no small feat and comes after a YTD drop of more than 49%. The most recent news from the company came on April 9th. On the 9th, it states that Ms. Ying Wang, has signed as a member of its compensation committee.
And now, the company will appoint Mr. Youmin Xi as its new chairperson of the nominating committee and of the compensation committee. For those unfamiliar, RLX is a producer of branded e-vapor products in China. The company has a long list of in-house tech and products and has been able to become a mainstay in the vaporizer market in China. With the growth of vaporizer usage in the last few years, it’s clear that RLX could be here to stay. Considering that, will it be on your penny stocks buy list or not?
Are Penny Stocks Worth Buying?
Finding the best penny stocks to buy can be a challenge without the right tools. But, with the best right information on hand, finding penny stocks that are worth buying in 2022 can be much easier than previously imagined.
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When investing, it is crucial to understand exactly what your trading strategy is and how to use that to your advantage. So, with all of that in mind, do you think that penny stocks are worth buying or not?