Check These 3 Penny Stocks Out For Your Watchlist 

As we end another week of trading penny stocks and blue chips, there is a lot for investors to keep in mind. Despite mostly positive sentiment as the week ended, penny stocks and blue chips have been in a blood bath in the past few months. 

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This means that many investors are looking for penny stocks to buy that could be immune to bear moves. While this is a tough ask, there are plenty of penny stocks that could be worth keeping an eye on. With that in mind, let’s take a look at three penny stocks to watch this coming week. 

3 Penny Stocks to Watch This Week

  1. Drive Shack Inc. (NYSE: DS
  2. Alzamend Neuro Inc. (NASDAQ: ALZN
  3. Zomedica Corp. (NYSE: ZOM

Drive Shack Inc. (NYSE: DS)

With consumer discretionary stocks taking a back seat, you may not think a mini-golf or driving range company would be on the list of penny stocks to watch. However, with the summer months beginning and school out of session, recreational activities are in focus. Drive Shack Inc. Is on the list of penny stocks to watch right now for this reason and the market has experienced a notable bounce over the last few sessions.

Drive Shack owns and operates golf-related leisure and entertainment businesses. In its latest round of earnings, the market caught a glimpse of just how strong the company has performed in the face of bearish conditions. Drive Shack posted revenues of $69 million during Q1 2022. This was a boost of 13% over its previous year’s first quarter. Meanwhile, Drive Shacks new pottery brand saw $4.4 million in total revenue during the period.

“2022 is off to an incredible start. Our  Drive Shack  and American Golf businesses continue to generate solid earnings and we are gaining a clear proof of concept with our two Puttery venues, both delivering sales results and profitability margins ahead of our expectations this quarter.”

Drive Shack Inc.’s President and Chief Executive Officer  Hana Khouri

Drive Shack is on pace to open seven more Puttery venues this year with the newest planned for Washington DC. Houston and Chicago are anticipated for opening next quarter and Drive Shack said it’s “aggressively” seeking new leases for additional openings in 2023. With this backdrop, DS stock could be one of the names to watch heading into summer 2022.

Penny_Stocks_to_Watch_Drive Shack (DS Stock Chart)

Alzamend Neuro Inc. (NASDAQ: ALZN)

Biotech stocks may have received the brunt of the stock market crash in 2022. But that doesn’t mean the daily trends aren’t worth paying attention to. Alzamend Neuro saw a strong boost in buying late in the afternoon on May 13th. Shares briefly surged above the $1 mark as traders circulated the name.

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Alzamend is a biotech company specializing in neurodegenerative diseases and psychiatric disorders. Earlier this month the company dosed the first patient in a Phase 2A study in treating Alzheimer’s disease with AL001. This is the company’s treatment candidate utilizing a lithium-delivery system as an oral therapy for patients with dementia related to impairment from Alzheimer’s. While topline data from this study isn’t expected until December, it hasn’t stopped traders from speculating on the company.

It’s also worth noting that 10% owner, Milton Ault III has been a buyer over the last few months. In April, Ault purchased over 2.6 million shares of ALZN stock. Earlier this month, he picked up an additional 100,000. Considering a recent bullish trend in small & micro-cap biotechs, ALZN could be one of the penny stocks to watch.

Penny_Stocks_to_Watch_Alzamend

Zomedica Corp. (NYSE: ZOM) 

At EOD on May 13th, shares of Zomedica stock managed to climb by over 10%. This is a substantial gain for the company, and one that comes after a one month drop of over 25%. In the past year, shares of ZOM stock have fallen by over 70%. However, today, the company announced its Q1 2022 financial results. In the results, it posted revenue of $3.8 million which is a 38% climb from where it was only a year ago. And, the company stated that it hold more than $192 million in cash on hand. 

“The first quarter of 2022 was an exciting one for Zomedica as we trained our full sales force to sell PulseVet® therapeutic shock wave therapy devices and launched the technology into the small animal market.

We are pleased with our overall progress in just the first quarter of the year and believe this market represents a significant growth opportunity for the Company. We have been particularly pleased with the sales of PulseVet products for small animal use, with 30 system sales to this customer segment during the quarter, an increase of 500% over PulseVet’s first quarter 2021 small animal sales”

The CEO of Zomedica, Larry Heaton

This is major news for the company and shows why it is growing so quickly. So, with that in mind, will ZOM be on your penny stocks watchlist or not?

Penny_Stocks_to_Watch_Zomedica

Which Penny Stocks Are You Watching Right Now?

If you’re looking for the best penny stocks to buy, there are hundreds to choose from. Because of the sheer number of small caps out there, investors need to be selective about the ones that they buy. 

[Read More] Penny Stocks To Buy In May? 3 To Watch Before Next Week

This means doing as much research as possible, and understanding exactly what is going on in the stock market. That is the best way to ensure the highest possibility of gains in the shortest time frame. So, with that considered, which penny stocks are you watching right now?

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