Are These 3 Penny Stocks on Your Watchlist Right Now?
\When looking for penny stocks to buy, there are a few key things to keep in mind. First, you should make sure that the penny stocks you are interested in investing in have solid market momentum and that they show potential for growth over time. While some investors choose penny stocks for the long term, most tend to buy penny stocks due to their short-term movement.
This allows for large gains in a short time frame. However, it also means that investors can lose money trading penny stocks just as easily. Regardless, knowing how to trade penny stocks and what your strategy is, is crucial to your success as an investor. Additionally, it is important to do your research and carefully consider the financial stability of each stock before making any investment decisions.
Because penny stocks are so speculative, it is important to be aware of the latest news and events both in the stock market at large and with the companies you’re investing in. This will allow you to continuously monitor stocks and stay up to date on any changes that could impact your investments.
If you are looking for stocks to buy, there are more than enough to choose from. And, with the high volatility that we continue to witness in the stock market, there is plenty of opportunity to make money in 2022. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist in 2022
- Nordic American Tanker Ltd. (NYSE: NAT)
- Transocean Ltd. (NYSE: RIG)
- Tempest Therapeutics Inc. (NASDAQ: TPST)
Nordic American Tanker Ltd. (NYSE: NAT)
By EOD on April 27th, shares of NAT stock had shot up by over 12.9% to more than $2.88. This is a substantial uptick and one that adds to a one month gain of more than 60%. Before we get into why shares of NAT stock are moving right now, it’s worth looking into what the company does. Nordic American is a provider of crude oil tankers for charter around the world. In its most recent announcement, the company announced that it would sell another vessel, adding to its accounting impairment charges for its 2021 annual report.
“No tanker company on Wall Street has the strategy of NAT. NAT does not buy and sell Suezmaxes as a business proposition – the policy is based on the premise to keep the vessels to the end of their lives. Recently prices are up and we have sold a few vessels.
In July 2021 we announced a plan to sell ships in combination with buying ships. We have sold four Suezmaxes now, generating a cash injection of about USD 60 million to NAT. Vessel number four was delivered to the new owners on April 12, 2022.”A Statement from Nordic American
While Nordic American is highly volatile, the company does look like it has a lot to offer. And with its sizable gain in mind, do you think it deserves a spot on your list of penny stocks to buy?
Transocean Ltd. (NYSE: RIG)
With a small gain today, RIG stock is on many investors minds following a recent drop. In the last month, shares of RIG stock have fallen by around 17%. However, YTD, shares of RIG stock have increased by around 23%. To understand whether or not it’s worth it, we have to take a closer look at the company and its recent announcements.
Only a few days ago, the company provided a quarterly fleet status. It stated that it’s Development Driller III was awarded a one-well contract in Colombia worth $331,000 per day. In addition, it has several other drillers that were awarded similar contracts.
At the end, the company stated that its aggregate incremental backlog for the ships in the update is $87.2 million. And, as of April 25th, the company has a total backlog of $6.1 billion. While the energy industry is not seeing as much hype as it did a few weeks ago, prices are still high and demand is climbing. So, whether this makes RIG stock worth adding to your penny stocks watchlist, is up to you.
Tempest Therapeutics Inc. (NASDAQ: TPST)
With over 30% in gains at EOD, TPST stock is another penny stock that investors are watching right now. This is a major gain that comes after a six month drop of over 74%. The big news for the company comes as it announced that it received a $15 million private investment in public equity financing.
This comes from the sale of shares and pre-funded warrants to EcoR1 Capital and Versant Venture Capital. In addition to this, the company will also be giving a presentation on TPST-1120 and TPST-1495 at the 2022 American Society of Clinical Oncology annual meeting. This meeting will take place in the beginning of June, and should bring in more attention to the work that Tempest is doing. Considering that, is TPST stock a buy this month or not?
Are Penny Stocks Worth Buying or Not?
The answer to whether penny stocks are worth buying or not is difficult as it is completely up to you and your investing strategy. While buying penny stocks can be profitable, it can also lead to major losses if one is not careful.
Considering that there is so much going on with penny stocks right now, investors need to look at the stock market at large to be able to decide how to make money and which penny stocks may offer that opportunity. So, with all of that in mind, do you think investing in penny stocks is worth it or not?