3 Hot Penny Stocks to Watch in May 2022
Finding hot penny stocks to buy can be tricky. But if you put in the work, it can be very rewarding. One of the biggest factors to understand is researching the penny stocks on your list. This will give you a good idea of the companies you are investing in and what to expect. When it comes to finding penny stocks to buy, the best place to start your search is with trending small caps.
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Most who invest in penny stocks, tend to do so due to their high volatility. And, because penny stocks fluctuate greatly, it all comes down to having a well-thought-out trading strategy. Right now, there is a lot of bearish movement in the stock market. This is the result of issues regarding high inflation, climbing interest rates and more of the like. And because of that, it is a tough time to be investing. But, if you are patient and do your research, you can find some good penny stocks to buy that could offer sizable returns.
In addition to having a trading strategy, knowing what your investing goals are and what your risk tolerance is, will both play a big role in finding penny stocks to buy. If you’re looking for quick, short-term gains then there are plenty of penny stocks to choose from. However, if you are looking for long term and stable gains, penny stocks may be too risky. So, with all of that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks That Are Trending Right Now
- Moneylion Inc. (NYSE: ML)
- Bolt Biotherapeutics Inc. (NASDAQ: BOLT)
- Clean Energy Fuels Corp. (NASDAQ: CLNE)
Moneylion Inc. (NYSE: ML)
During trading and after hours, shares of ML stock exploded by over 35% and 9.5% respectively. These major gains come alongside the company’s latest earnings report. In its earnings, Moneylion announced quarterly revenue growth of 105% YoY. In addition, its total customers grew by 117%, which is no small feat.
“We entered 2022 with strong momentum, we delivered our fifth consecutive quarter of triple-digit Adjusted Revenue growth and improved our operating leverage as we progress on our path to profitability.
Adjusted Revenue increased 105% year-over-year in the first quarter, and we ended the quarter with 3.9 million Total Customers, up 117% year-over-year. These results reflect our durability through economic cycles with a unique ability to efficiently grow users and revenue while improving our strong unit economics.”The CEO and co-founder of Moneylion, Dee Choubey
This is great news for the company, especially at a time when profitability is difficult to attain. And, with that in mind, we see just why shares of ML stock are climbing so much right now. So, whether this makes ML worth adding to your penny stocks watchlist or not, is up to you.
Bolt Biotherapeutics Inc. (NASDAQ: BOLT)
While BOLT stock’s intraday gain on May 12th of 5.4% is exciting, during after-hours, shares of BOLT stock pushed up by another 8.9%. This exciting gain follows a one month drop of over 40%, which highlights just how important today’s bullish move is.
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While we do see large gains with little to no news, during trading, the company announced its Q1 2022 financial results as well as some business highlights. In the results, the company posted a cash balance of over $246 million, which is a large amount of cash on hand. And, the company stated that this cash should be able to fund its key milestone and operations for the next two years.
“Our lead program, BDC-1001, for patients with HER2-expressing solid tumors is on track and we expect to complete both our monotherapy and combination dose-escalation arms and select a recommended Phase 2 dose in the second half of 2022. We continue to apply our expertise in myeloid biology to advance our diversified pipeline of novel Boltbody ISACs and our first-in-class Dectin-2 agonist antibody program.The CEO of Bolt Biotherapeutics, Randall C. Schatzman, Ph.D.
Right now, there is a sizable amount of bullish momentum for biotech penny stocks. And, with this exciting business update, we see that BOLT could be worth adding to your list of penny stocks to watch.
Clean Energy Fuels Corp. (NASDAQ: CLNE)
With over 5.5% in gains at EOD on May 12th, CLNE is an energy penny stock that investors are watching right now. Although we have seen a major pullback with CLNE stock similar to the rest of the market, the company has seen gains in the long term. The most recent news from the company came on May 5th. This is when it announced its latest Q1 2022 financial report.
In the report, the company posted that it delivered 95.8 million gallons of fuel, with revenue of $83.5 million. These represent a 3.7% and 8.2% increase YoY, which is no small feat. And if we consider that Clean Energy Fuels is growing at a time when the stock market is consistently falling, we see that this data is even more impressive. So, whether CLNE is a buy or not, is up to you.
Are Penny Stocks Worth Buying?
Finding penny stocks that are worth buying can be tricky. However, with the right research on hand, it can be much easier than previously imagined. Because there is so much going on in the stock market right now, making money with penny stocks all comes down to knowing where to look.
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And, because volatility is higher than it has been in months, staying up to date with the latest news and events, is also crucial. With that in mind, do you think that penny stocks are worth buying or not?