3 Top Penny Stocks to Add to Your Watchlist This Coming Week
After another volatile day of trading for penny stocks and blue chips, there is a lot that investors need to know. On May 20th, the S&P 500 finished the week down, although it did recover slightly from its earlier drop. Investors define a bear market as a drop of over 20% from recent highs. And with the S&P 500 near that threshold, investors are worried.
To take advantage of this, penny stocks traders have to consider exactly what is going on in the stock market. With rising inflation, climbing interest rates, today’s news about Monkeypox, and more, there is a lot to digest. And, it makes sense that we would see this heightened volatility as a symptom of the sheer number of events at play.
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For traders making money with penny stocks all comes down to timing. The key to success in penny stocks trading is all about timing your trades correctly. When there is a lot of news and events happening, it can be hard to know when to buy or sell.
However, if you can take the time to understand what is going on, you can find opportunities to make money. While it may seem difficult, it is possible to make money in a bear market by trading penny stocks. To do this, you need to have a solid understanding of the market and be able to act quickly on opportunities. So, with this in mind, let’s take a look at three penny stocks to watch.
3 Top Penny Stocks to Watch This Week
Camber Energy Inc. (NYSE: CEI)
Camber Energy is a penny stock that we have covered numerous times in the past few months. And with a 3% gain on May 20th, CEI stock is once again in focus. While it is a highly volatile penny stock, there is a lot that Camber could have to offer. Most investors are watching the company right now due to its placement in the clean energy sector. But, before going any further it’s worth noting that the company does have exposure to both renewables and fossil fuels. In the past five days, shares of CEI stock have climbed by more than 9%.
And, the big news from the company today came as it announced an update on its public fillings. The company posted that it has filed its Form 10-Q for the first three quarters of 2021 as well as a 10-k for the year ended on December 31st, 2021. This is big news for the company investors alike as a lot of unknowns have floated around surrounding its filings. So, with this big news in mind, will CEI be on your penny stocks watchlist or not?
Nokia Oyj (NYSE: NOK)
Another decent gainer on May 20th is NOK stock. While shares started the day strong, they did finish only 0.4% up. Despite a one year drop, we are seeing some exciting news with the company right now. Today, it announced the purchase of more shares of its own stock via a share buyback program. Now, the company states that it will end the first phase of this process on December 22nd of this year with a maximum aggregate purchase price of EUR 300 million.
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If you’re not familiar, Nokia is a tech penny stock that produces a wide range of products. This includes mobile devices as well as cloud network options and much more. With this share buyback program, it’s clear that Nokia is working hard to continue growing. And while it may take some time to do so, NOK could be worth adding to your list of penny stocks to watch in May.
Tencent Music Entertainment Group (NYSE: TME)
Another penny stock that saw some volatile trading on May 20th is TME stock. Now, TME has been at the center of attention in the past few months due to major regulatory shifts in China. And since then, TME has seen an incredible amount of volatility. Despite a six month drop of over 45%, it’s clear that we are seeing some bullish sentiment for the company, while albeit, is quite small.
The most recent news from the company came a day or so ago, when it announced the first digital commemorative trophy in the history of the Chinese music industry. It states that this will offer gratitude and encouragement to music creators, those who make content, and more.
And, with 11 trophies in the first part of the offering, TME continues to make headlines domestically. Now, it’s worth understanding that TME is highly volatile. And while it is moving frequently, it could be an interesting candidate if you’re trading strategy is based on large fluctuations. With that, do you think TME stock is worth buying or not?
Are Penny Stocks Worth Buying Right Now or Not?
Finding penny stocks that are worth buying in 2022 can be tricky. With so much going on in the stock market, it all comes down to knowing where to look. Right now, there are several factors to keep track of that will likely impact your portfolio.
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This includes rising inflation, subsequent climbs in interest rates, and geopolitical tensions. All of this has led the stock market and penny stocks in particular, to be more volatile than they have been in many months. With this in mind, do you think penny stocks are worth buying right now or not?
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