Are you looking for penny stocks to buy right now? I’m sure you’re not alone, and the action in the stock market today has offered much more opportunity for day traders than most who are looking to invest. Thanks to the stock market crash in 2022, it has become more of a stock-picker’s market.

It has emphasized the reason to learn how to manage risk and know the ins and outs of trading for income. Penny stocks are already known for their short-term potential for gains, and with that has come much more attention, thanks to the current market climate.

Assuming you already know the basics of trading, it’s time to take the next step. Learning how to put together a list of penny stocks to watch will help cut through the noise. On any given day, dozens of cheap stocks usually make market-beating moves.

These moves are fleeting for the most part. But it doesn’t make them any less meaningful. If anything, it justifies traders learning how to make money from volatility. There are plenty of risks involved, but where’s the fun if there weren’t any at all, right?

Nevertheless, the goal is simple: make money with penny stocks and repeat the process. Today we look at a handful of low-priced public companies turning heads for one reason or another. Then we see if there’s anything else to keep track of, and it may be worth noting if they’re on your penny stocks watch list right now.

hot penny stocks to watch

Penny Stocks To Watch This Week

Mesa Air Group Inc. (MESA)

Airline stocks haven’t been the high fliers they may have been in years past. However, with the global economy returning to normalcy, travel is becoming more frequent. Related stocks, including airline stocks, have slowly come back into focus.

Mesa Air Group is one of the lowest-priced in the airlines basket that has just begun coming off of its 52-week lows. The company is set to deliver earnings next week, and some are looking to this next round of financial data to dictate the pace of things heading into 2023. In its last earnings update, the company said that it continued experiencing an impact by industry-wide, elevated pilot attrition.

Jonathan Ornstein, Chairman and CEO said, “While demand remained resilient for the quarter, our financial results continue to be impacted by industry-wide, elevated pilot attrition and the significant reduction in the commercial pilot pipeline, exacerbated by the 1,500-hour rule. Looking forward, we intend to take dramatic action to address the pilot shortage through increased recruiting, additional simulator capacity, and expansion of our pilot pipeline. We are also pleased that United Airlines has expanded the Aviate program to include all of our pilots.”

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Even in light of this, Mesa still beat EPS and sales estimates for the quarter. As the market awaits the next round of financial results, MESA stock has seen an uptick over the last few sessions.

Tuya Inc. (TUYA)

Another one of the beaten-down penny stocks turning heads in the stock market today is Tuya. The company provides cloud technology services and posted its latest financial results in November. EPS came in line with estimates while beating sales expectations. Tuya reported over $45 million in revenue for the quarter on a loss per share of 3 cents.

Yao (Jessie) Liu, Director and Chief Financial Officer of Tuya explained, “During the third quarter, we continued to proactively respond to market conditions, stabilize gross margins, and significantly reduce operating expenses. Most importantly, Tuya has the staying power that many competitors lack. We implemented a series of control measures to enhance our operating efficiency, resulting in a narrowed loss and improved cash flow.”

As far as outlook is concerned, Tuya said it remains “confident in its long-term growth prospects” and is committed to “iterating its products and services, further enhancing its software and embedded hardware capabilities, expanding its customer base, diversifying revenue streams, and further optimizing operating efficiency.” Things have also been helped by a $50 million buyback program announced on November 9th.

On the heels of one of its most active days in weeks, TUYA could be on the list of penny stocks to watch this week.

Ardelyx Inc. (ARDX)

One of the best-performing penny stocks on this list is Ardelyx. Since hitting 52-week lows in June, ARDX stock has been on the grind higher. In fact, a few weeks ago, shares tapped 52-week highs of $2.19 on the back of the company’s latest headlines.

Ardelyx said that an FDA committee backed its kidney disease drug candidate and recommended its approval. The panel also voted 10:2 in favor of combining the drug with phosphate binders. Ardelyx’s Xphozah is a standalone therapy for controlling serum phosphorus in chronic kidney disease patients on dialysis.

As pointed out in the article Penny Stocks To Buy: 7 Insider Picks For November 2022, following the decision, insiders picked up shares of ARDX stock. In particular, Director David Mott snagged 567,000 shares. His average prices ranged from $1.65 to $1.78, bringing his direct holdings to more than 1.16 million shares. The purchases totaled more than $1 million and became one of the reasons for turning a few heads.

AeroClean Technologies (AERC)

One stock that is no stranger to aggressive breakouts is AeroClean. Shares exploded from under $2 to highs of over $23 earlier this year as short-squeeze stocks took center stage. Now that the dust has settled, the company could be back on the radar of retail traders thanks to a mix of recent events and, yes, a touch of short interest.

AERC stock has climbed considerably since the company reported Q3 earnings last month. AeroClean, which specializes in hygiene technology, reported strong earnings per share growth and year-over-year sales. Jason DiBona, Chief Executive Officer of AeroClean, explained, “We believe this merger with Molekule will substantially increase revenues, distribution, and selling capability, while also expanding our product lines, adding sensor technology, and creating the potential to launch a recurring, software-as-a-service revenue model…the Company continues to evaluate a wide range of strategic opportunities, including additional acquisitions to effect transactions the Company believes would substantially increase revenues, distribution and selling capability, and expand IoT sensor and IAQ monitoring technologies to accelerate our recurring revenue Safe Air as a Service model.”

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Short interest isn’t as extreme as other companies. But with a short float percentage of around 7%, it isn’t entirely absent. Since it is a previous short-squeeze stock, AERC seems to be back on the radar during the final month of 2022.

List Of Penny Stocks To Watch


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