3 Penny Stocks for Your Late-April 2022 Watchlist
What are the best penny stocks to buy in 2022? This is a question that many investors are asking as we continue to barrel through an extremely volatile period in the stock market. And while there are many factors to consider when trying to buy penny stocks, there are a few that are more important than others.
The first aspect to consider is the overall market conditions. What is going on in the stock market that is affecting penny stocks? And on a more micro level, what is impacting certain industries or penny stocks specifically? These are important factors to consider because they can have a direct impact on the penny stocks you’re considering buying.
Another important factor to consider is the company’s financial situation. This information is important because it can give you an idea of how the company is likely to perform in the coming weeks to months. And with earnings season upon us right now, getting a broad sense of how earnings are going in the market can be a major benefit.
The next factor to consider is the technical analysis of the penny stock. This includes aspects like looking at charts and trying to identify patterns that could indicate where the stock is headed. This can be a tricky task, but it’s one that experienced investors are often able to do with relative ease. So, with all of this in mind, let’s take a look at three penny stocks to add to your late-April 2022 watchlist.
3 Penny Stocks to Watch as April Comes to an End
- Medavail Holdings Inc. (NASDAQ: MDVL)
- Leap Therapeutics Inc. (NASDAQ: LPTX)
- Baosheng Media Group Holdings Ltd. (NASDAQ: BAOS)
Medavail Holdings Inc. (NASDAQ: MDVL)
At EOD on April 19th, shares of MDVL stock managed to shoot up by more than 26%. This is a substantial gain for the company, and adds to its one-month jump of more than 170%. YTD, shares of MDVL stock have pushed up by over 89%. And this is the main reason that we have covered it extensively during that period. So, why are we seeing such big gains with Medavail Holdings?
Well, it’s tough to say why MDVL stock is climbing right now as there is no news from the company. However, as a popular penny stock, it’s clear that investors are trading MDVL in April. The latest news from the company came on April 4th when it announced the first closing of a private placement. This involved 37.6 million shares of common stock at a price of $1.0625 per share. The offering effectively raised roughly $40 million.
For some context, Medavail is a pharmacy organization that operates through robotic dispensing platforms, home delivery, and other groundbreaking tech solutions. With its high volatility, investors should understand that MDVL stock is going to continue fluctuating. So, with that in mind, will it be on your penny stocks watchlist or not?
Leap Therapeutics Inc. (NASDAQ: LPTX)
Another penny stock that we have covered numerous times in the past few weeks is LPTX stock. And today, shares of LPTX stock managed to shoot up by more than 15%, which is quite substantial. The most recent news from the company came on March 11th when it announced its Q4 and full year 2021 results. In the results, the company announced that it completed a $103.6 million public offering of common stock resulting in net-proceeds of $96.8 million.
“2021 was year of substantial clinical accomplishments for Leap as we presented positive data from our DisTinGuish clinical trial, which demonstrated compelling efficacy driven by enhanced clinical responses and survival benefit associated with high tumoral DKK1 expression that is independent of PD-L1 expression in patients with first-line gastroesophageal junction (G/GEJ) cancer.”The President and CEO of Leap Therapeutics, Douglas E. Onsi
While this is big news, it will be interesting to see what the long term results will be. Considering that, does LPTX deserve a spot on your list of penny stocks to buy this month?
Baosheng Media Group Holdings Ltd. (NASDAQ: BAOS)
During trading today, shares of BAOS stock managed to push up by more than 33% at EOD. At $0.78 BAOS stock has seen more than 40% in gains in the last five day period. Similarly to what we’ve seen with other penny stocks today, BAOS did not make any announcement to warrant this large gain. For that reason, it’s worth looking into what the company does.
Baosheng is a provider of online marketing solutions. This includes advertising optimization, online ads, social media ads, and much more. With the rise of online shopping occurring in the last year or two, it’s clear that BAOS’s services are in demand. But, with its high volatility and low price, investors should be wary of investing in BAOS stock in the long term. With that in mind, is BAOS stock worth watching or not?
Is Investing in Penny Stocks Worth it or Not?
There’s no easy answer to this question, as there are a lot of factors to consider when making a decision whether to buy penny stocks or not. However, if you’re thinking about buying stocks, it’s important to do your research and understand the risks involved.
In addition, knowing your own investing style is key to making a decision that is right for you. Penny stocks are generally considered to be high risk investments, and they are very volatile. This means that the price of penny stocks can go up or down very quickly, and it can be difficult to predict what the market will do. However, if you’re comfortable with taking risks, buying penny stocks can be a great option for you.