3 Hot Penny Stocks to Add to Your May 2022 Watchlist
Right now, trading penny stocks and blue chips is difficult due to the high rate of volatility in the stock market. And while it is challenging, there are still ways to make money. The main factors at play in the stock market in May include rising interest rates, inflation, geopolitical tensions, and more. And because of this, volatility is extremely high right now. In addition to this, we are also seeing major bearish sentiment due to the future holding a great deal of unknowns.
Because penny stocks fluctuate so much, most investors tend to use the swing trading method. This involves buying stocks when they are low, then selling them before they lose value in a short time frame. That could be anywhere from a few hours to a few days. This strategy can be tricky to master although it can be profitable if done correctly.
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Keep in mind that while buying and selling penny stocks is easy enough, timing your buy and sell orders is the real challenge here. You have to do some serious research on each stock you want to buy. Some of the things you should be looking at are technical analysis charts and financial statements, but also taking a look at insider trading trends and news surrounding the company.
All these factors will help in finding penny stocks that can fluctuate enough for you to make money on them. With all of this in mind, let’s take a look at three hot penny stocks that investors are watching right now.
3 Penny Stocks to Watch in May 2022
- Gingko Bioworks Holdings Inc. (NYSE: DNA)
- Hycroft Mining Holding Corp. (NASDAQ: HYMC)
- Camber Energy Inc. (NYSE: CEI)
Gingko Bioworks Holdings Inc. (NYSE: DNA)
In the past few days, we’ve covered DNA stock several times. This is due to its consistent gains. And today, shares of DNA stock managed to shoot up by over 2.8%, which is no small feat. To understand why shares of DNA stock are climbing, we can look at its fundamentals. In its latest Q4 and full year 2021 report, the company announced total revenue for 2021 of $314 million. This represents an increase of over 309%, which is an incredible gain. In addition, the company implemented 31 new Cell programs for 2021 alongside more than $1.5 billion in cash on hand.
“I couldn’t be prouder of our team and the way they have shown up to build our platform and deliver cell programs for our partners over the past year. Some of the greatest challenges of our generation – including climate change and food security – are fundamentally biological.
Ginkgo is unique in our relative scale and our focus on the development of broad-based horizontal technologies to make biology easier to engineer – and on humankind’s ability to do so responsibly.”
The CEO of Gingko Bioworks, Jason Kelly
All of this exciting news shows why there has been so much bullish sentiment with DNA stock. Although it is highly volatile, the company does still look like it could have a lot to offer investors. With that considered, will it be on your list of penny stocks to watch or not?
Hycroft Mining Holding Corp. (NASDAQ: HYMC)
Another penny stock that saw sizable gains during trading on May 3rd is HYMC stock. On May 3rd, shares of HYMC stock managed to climb by more than 12%. This significant gain comes as shares of many mining stocks rose during trading today.
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As it relates to HYMC, the most recent news from the company came on April 26th when it announced preliminary Q1 2022 operating results. In the results, the company posted gold production of 5,258 ounces alongside silver production of 16,681 ounces. This is a sizable amount and adds to the company’s overall cash position of $172 million.
“Hycroft continues to be one of the largest gold and silver resources in the world located in the Tier 1 mining jurisdiction of Nevada, USA. We are working diligently to conclude our technical studies for the milling operation and fully understanding the potential to increase estimated silver in the resource model. In addition, we are very excited to be implementing an exploration and drill program for 2022.”
The President and CEO of Hycroft, Diane Garrett
This big news is one of the reasons that we have seen gains with HYMC stock in the past few weeks. And, HYMC is also a popular meme stock. So, does HYMC deserve a spot on your penny stocks watchlist this month?
Camber Energy Inc. (NYSE: CEI)
If you’ve been following penny stocks at all over the last year or so, you’re likely familiar with Camber Energy. If not, Camber is a leader as a trending penny stock, and one that we have discussed numerous times in the past few months. With a modest gain today and sizable volume, it is once again worth mentioning. Around a week ago, news came that the company did not meet the standards of the NYSE, and therefore could be delisted.
However, after receiving an extension through May 20th, the company has still yet to pass the $1 threshold. Right now, the company has still yet to post several 10-K filings. So, it appears as though there is a lot of worrisome news behind Camber Energy. With this volatile momentum in mind, it’s clear that CEI is making big waves, but whether it’s worth watching or not is up to you.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where the stock market is headed. While understanding the trajectory of penny stocks and blue chips can be difficult, with the right research on hand, it is much easier than previously imagined.
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Considering that there is so much going on in the world right now, we see just why stocks are volatile. And, if investors are able to take advantage of this volatility, investing in penny stocks in 2022 can be a profitable endeavor. Considering all of this, which penny stocks are you watching right now?
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