3 Penny Stocks to Add to Your 2022 Watchlist
If you’re making a penny stocks watchlist for 2022, you’re right on time. As a result of the popularity of trading penny stocks and the sheer number of factors impacting the market, there is a lot to keep track of.
But, by breaking down every individual factor at hand, traders can have a much easier time understanding how to make money with penny stocks. The most obvious impacting factor on penny stocks right now is the Omicron variant. While this has been the case for the past month or so, it doesn’t look like it will be changing anytime soon.
With case numbers continuing to skyrocket globally, Omicron continues to be a major driver of movement in the stock market. Aside from this, we also have to consider the economic effects of the pandemic. Despite being in the Santa Claus rally right now, there are some concerning aspects to understand. This includes inflation and the long term economic ramifications of the pandemic at large.
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While we don’t know what will happen in 2022, investors are hopeful that it could be better than 2021. So, have a trading strategy that is able to cope with the changing tides of the market. Considering all of this, let’s take a look at three penny stocks that investors are watching in 2022.
3 Penny Stocks That Investors Are Watching Right Now
- Senseonics Holdings Inc. (NYSE: SENS)
- Opko Health Inc. (NASDAQ: OPK)
- Palatin Technologies Inc. (NYSE: PTN)
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings is a penny stock that we’ve covered numerous times over the past few months. And with a staggering YTD gain of over 195%, it makes sense that SENS stock is extremely popular right now. While performance over the last few weeks has been nothing to write home about, we are seeing a more recent bullish shift with SENS stock right now.
Before we get into why shares of SENS stock have been moving we have to talk about what Senseonics does. Senseonics is a biotech penny stock working on the development of continuous glucose monitoring devices. This includes its Eversense CGM System for continuous glucose monitoring in those with diabetes. Last week, the company announced that its Eversense NOW iOS platform will be available in Europe.
“We’re pleased to offer yet another tool for our Eversense users in Europe, now enabling access to this important feature for all our customers. With the Eversense NOW app, Eversense users can enjoy the added peace of mind that comes with knowing friends and family can remotely view real-time glucose data, see trend graphs, and receive real-time glucose alerts from anywhere.”
The CEO of Senseonics, Tim Goodnow, Ph.D.
This is great news for the company and shows that it is working hard to continue growing. Considering this, will SENS be on your penny stocks watchlist moving forward?
Opko Health Inc. (NASDAQ: OPK)
Another penny stock that we have covered multiple times this year is Opko Health Inc. In the past month, shares of OPK stock have shot up by around 24%, which is quite substantial considering the rest of the market’s movement during that time. And, one of the main reasons behind this gain comes as the company announced favorable data regarding its RAYALDEE trial for Covid patients. The company stated that the results were highly positive, showing that all safety endpoints were met.
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In addition to this, the company recently received approval from the FDA for its 4Kscore Test, which can be used in men over the age of 45 that are biopsy negative for prostate cancer. All of this is positive news and helps to reflect the recent bull moves made by OPK stock.
While Opko can be quite volatile at times, this seems characteristic of the overall biotech market right now. It’s also worth noting that any company working on a treatment or cure for Covid, is seeing heightened attention right now. And, this seems to be the case with OPK stock. Whether it’s worth adding to your list of penny stocks to watch or not however, remains up to you.
Palatin Technologies Inc. (NYSE: PTN)
Palatin Technologies is another penny stock that has been making significant headway in the market in the past few weeks. One of the main pieces of news from the company comes as it announced the initiation of its pivotal Phase 3 PL9643 MELODY-1 Clinical Trial. This trial is for those suffering from dry eye disease and will enroll 400 patients at several sites throughout the U.S.
“We are excited to initiate the MELODY-1 study of PL9643 in patients suffering from dry eye disease. This is the second melanocortin peptide Palatin has advanced into Phase 3, demonstrating Palatin’s expertise and efficiency in melanocortin peptide development for indications with unmet medical need.”
The CEO of Palatin, Carl Spana, Ph.D.
This is big news for the company and should help to bring in more attention to it moving forward. While it is hard to say what the long-term impacts of this will be, it is exciting nevertheless. With that in mind do you think that PTN stock is worth buying right now or not?
Are Penny Stocks Worth Buying This Year?
The short answer is that it is completely up to you and your trading style. While buying and selling penny stocks is not for everyone, it can be a great way to make money if done correctly. But, the best chance of making money with penny stocks comes with knowing how to trade and what is going on in the stock market.
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These two factors alone can vastly increase your odds of profitability. But, always keep in mind that penny stocks are very risky and can lead to large losses just as quickly as large gains. Because of this, investors should fully understand all of the stocks on their lists. With that in mind, do you think that penny stocks are worth buying this year?
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