3 Penny Stocks For Your May 2022 Watchlist
Finding the best penny stocks to buy in 2022 can be a daunting task for even the most experienced investors. With so many penny stocks to choose from and new companies emerging every day, it can be difficult to know where to start. To have the best chance of succeeding at making money with penny stocks, investors can do a few things.
First, traders should have a thorough understanding of what is going on in the market. This means looking at factors such as the overall market trends, global news, and company-specific news. Second, it is important to have an investing strategy in place. This means knowing when to buy penny stocks and when to sell them.
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Third, penny stock investors need to be diligent in their research. This goes hand in hand with your investing strategy, and should be thorough enough to have a complete understanding of the penny stocks on your list.
While there are many ways to make money in the stock market, penny stocks offer investors a unique opportunity to potentially make large profits in a short period of time. When done correctly, investing in penny stocks can be a great way to grow your portfolio and make some quick profits. Keep in mind that penny stocks are quite volatile, and therefore come with a higher risk. But, with that considered, let’s take a look at three hot penny stocks to watch next month.
3 Penny Stocks to Watch in May 2022
- Rubius Therapeutics Inc. (NASDAQ: RUBY)
- Dogness Corp. (NASDAQ: DOGZ)
- Aterian Inc. (NASDAQ: ATER)
Rubius Therapeutics Inc. (NASDAQ: RUBY)
One of the biggest gainers of the day is RUBY stock, which managed to climb by over 40%. While there is no news today that can justify this major gain, we can look at recent announcements from Rubius to try and find a reason.
Before we go any further, it’s worth noting that it is quite common to see penny stocks climb with no news to back it. This is due to the nature of speculation with small caps. The most recent news from RUBY stock came on April 8th when it announced updated clinical data at AACR for its mono therapy Phase 1 Arm of its Phase 1/2 trial of RTX-240. This drug will be used in the treatment of advanced solid tumors, and has shown promising safety profiles to date.
“Recent advances in immuno-oncology have transformed the treatment of cancer and improved outcomes for certain patients. Yet, of the estimated 40 percent of patients eligible for immunotherapy, the majority do not have durable responses. In addition, combinations of immune checkpoint inhibitors have higher toxicity, underscoring the need for safer and more effective immunotherapy combination treatments.”
The Director of the Virginia Cancer Specialists Research Institute, Alexander I. Spira, M.D., Ph.D., FACP,
This is very exciting news for the company and comes at a time when biotech penny stocks are in focus. So, while it is very volatile, it could have a lot to offer investors. With that in mind, will RUBY be on your penny stocks watchlist or not?
Dogness Corp. (NASDAQ: DOGZ)
Another big gainer at EOD on April 25th is DOGZ stock. By the end of the day, shares of DOGZ stock had climbed by more than 15% to over $4.04 per share. This comes after a five day drop of more than 34%, which is quite substantial.
Similarly to the other stocks on this list, there is no news that seems to be causing DOGZ climb today. However, it did lose around 10% in value last Friday, which could be the reason behind its uptick today. And during trading, we also saw shares of Dogness stock reach over 10 million in volume compared to its two month average of around 2 million.
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The most recent update regarding the company came on April 22nd, when Argus Research, which is an investment research firm, initiated an update on its coverage of DOGZ. It’s important to consider that this is a sponsored research agreement which means that it is inherently biased. And as we’d expect, the report highlighted Dogness’ 27% revenue growth in fiscal 2021.
Keep in mind that DOGZ stock is extremely volatile and is at the mercy of any regulatory measures that occur in China. But, with today’s move, it’s clear that there is at least some bullish sentiment regarding DOGZ stock right now. Considering this, does it deserve a spot on your list of penny stocks to buy?
Aterian Inc. (NASDAQ: ATER)
With over 16% in gains on April 25th, ATER is another penny stock that investors are avidly watching right now. And what’s more is that in the past month, shares of ATER stock have exploded by more than 99%. So, why is ATER stock climbing so much right now and in the past few weeks?
Well, aside from adding several new executives to its board including a new COO, the company is often discussed as a short squeeze stock. These stocks have seen incredible movements in the past two years, beginning with GME and AMC stock. Now, it’s worth understanding that ATER’s fundamentals are actually quite good. In its latest Q4 and full year 2021 report, the company announced quarterly net revenue growth of 52.6% YoY to over $63.3 million.
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And, the company also posted full year net revenue growth of 33.4% to more than $247 million. With a cash balance of over $30 million, it’s clear that ATER is in an advantageous position right now. And while it is trending and therefore very volatile, ATER does have a lot to back its recent price moves. So, whether this is enough to consider it worth buying or not, is up to you.
Buying Penny Stocks in May
If you’re thinking about investing in penny stocks, there’s no better time than the present. With high volatility in the stock market, there is also a lot that traders need to keep track of.
But, with a proper trading strategy and a consistent understanding of what is going on in the stock market, buying and selling penny stocks can be much easier than previously imagined. With that in mind, do you think buying penny stocks in May is worth it or not?
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