3 Penny Stocks to Add to Your Watchlist For Next Month
There’s no easy answer when it comes to penny stocks and whether or not they’re a good investment. It depends on a number of factors, including the current state of the market, your financial goals, and your risk tolerance. That said, penny stocks can be a good way to grow your portfolio over time. While they do tend to be more risky than blue chip stocks, they also can offer the potential for greater returns.
So, if you’re comfortable with taking on a little more risk, penny stocks could be a good option for you. To get started, do your research and find the best penny stocks to invest in. There are a number of resources available at your disposal. However, because penny stocks are so speculative and reactive, looking at the news will always be the best way to stay ahead.
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When you find a penny stock that interests you, don’t put all of your eggs in one basket. Instead, start with a small position and and fully understand your investing strategy. This means knowing what your entrance and exit prices are, and what indicators will occur along the way.
If the stock does well, you can always add to your position. But if it doesn’t perform as expected, you can exit without taking too much of a loss. As stated earlier, penny stocks are extremely volatile, and this means that investors should only invest what they are willing to lose. For example, some big gainers today such as Alzamend Neuro Inc. (NASDAQ: ALZN) and Meten Holding Group Ltd. (NASDAQ: METX) may perform well right now. However, this may not always be the case. With this in mind, let’s take a look any three penny stocks to add to your watchlist for April 2022.
3 Penny Stocks For Your April 2022 Watchlist
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- TDH Holdings Inc. (NASDAQ: PETZ)
- New Oriental Education & Tech Group (NYSE: EDU)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the largest gainers of the day so far is AVCT stock. By midday, shares of AVCT had shot up by over 15% to more than $1.16 per share. This is a substantial gain and comes on the heels of a 60% gain in the past five days. So, why are shares of AVCT stock climbing right now?
The big news for American Virtual Cloud came yesterday as the company announced that its Kandy Communications business unit, would be presenting at the “Enterprise Connect 2022 Conference & Expo: Let’s Re-connect! Event.” Only a few days before this, the company announced the closing of its divestiture of Computer Technology Solutions to Calian Group Ltd.
“Our white-label relationships with key telecommunication companies and technology vendors, global carrier-grade connectivity, and proven SD-WAN integration position AVCT as a premier cloud communications provider poised to gain market share. We are pleased to have found an excellent home for Computex and are confident that it will thrive under Calian’s ownership.”
The CEO of American Virtual Cloud Technologies, Darrell J. Mays
This is great news for the company and should help it to continue growing in the near future. As a result of this and the recent moves for the tech industry, it’s clear that AVCT could be worth watching. Whether it deserves a spot on your penny stocks watchlist however, is up to you.
TDH Holdings Inc. (NASDAQ: PETZ)
PETZ stock is another penny stock that we have discussed numerous times. And today, shares of PETZ managed to climb by more than 5.5% to over $0.42 per share. This is a sizable uptick and is in addition to its 23% gain over the past five days. Despite a YTD drop of over 90%, we have begun to see some small bullish sentiment creep back into PETZ stock.
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Today, some of the momentum can be attributed to the rise of JX Luxventure Ltd. (NASDAQ: LLL), which shot up by over 200% at midday. This company signed a $60 million sales deal with Chongqing E-Pet. And due to TDH Holdings placement in the pet industry, this deal is making big noise for it as well. Although PETZ stock is highly volatile as we’ve seen in the past few months, there is a small bullish case for it. So, with this in mind, will it be on your list of penny stocks to watch or not?
New Oriental Education & Tech Group (NYSE: EDU)
Up by over 10% today are shares of EDU stock. While shares of EDU have dropped by over 30% in the past six months and more than 90% in the past year, it’s clear that we are beginning to see some signs of a bullish turnaround with it.
Now, the main reason for the major drop with EDU came last year when China put a ban on for-profit tutoring. Once this occurred, EDU and other Chinese education stocks all took major falls in value. Now, this left the industry completely beaten down, with companies looking for new ways to succeed amidst it.
The reason that they are moving right now however, seems to be due to investors looking to capitalize on its short term downfall. Many penny stocks traders look at these stocks as ways to make money off of short term swing trading. But because EDU stock is so volatile, it can also be an easy way to lose money. With this considered, do you think EDU stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. In 2022, there is a lot that is going on simultaneously that is impacting the stock market.
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And because of this, both penny stocks and blue chips are more volatile now than they have been in the past few months. Considering the sheer amount of movement, there is also a lot of opportunity to be had with penny stocks. So, with this in mind, which penny stocks are you watching right now?