3 Hot Penny Stocks to Watch As The First Week of January Ends
Are These Penny Stocks on Your Watchlist This Week?
As we get rolling on another year of trading penny stocks, there is a lot for investors to understand. Although it can seem difficult to keep up with everything simultaneously, if we break it down one by one, it can be much easier to do. In the past two years, we’ve seen several major paradigm shifts with both penny stocks and blue chips.
For one, the influx of retail investors has resulted in higher volatility than in many years prior. Second, the influence of social media on investing has served to multiply that volatility and substantially increase speculation.
[Read More] These Penny Stocks Exploded Today, Here’s Why
Lastly, we have to consider the effects of the pandemic and resulting inflation. This is arguably the biggest mover and shaker we have to consider when investing in penny stocks in 2022. And now, with the rise of the Omicron variant and the U.S. hitting over 1 million cases per day, we are likely to see this volatility continue. In addition, many believe that cases could continue to rise into the next few weeks. For that reason, it’s crucial to understand exactly how the market is moving and how to take advantage.
But, with large market fluctuations comes the potential to make money with penny stocks. So, with all of this in mind, let’s take a look at three penny stocks to add to your watchlist in 2022.
3 Penny Stocks to Watch This Coming Week
- Invacare Corp. (NYSE: IVC)
- Ebang International Holdings Inc. (NASDAQ: EBON)
- Greenpro Capital Corp. (NASDAQ: GRNQ)
Invacare Corp. (NYSE: IVC)
On January 5th, shares of IVC stock managed to climb by over 2.8% at midday. And, in the past month, that number jumps to over 19%, which is no small feat. While in the past twelve months, IVC stock has dropped by almost 70%, we are seeing a small bullish turnaround for the company with now.
To understand why we have to take a closer look at it. While no news came out today, the company did make an exciting announcement only a few weeks ago. In early December, it stated that it would be realigning its Europe and Asia Pacific businesses to a single leader to help it run more efficiently. Geoff Purtil will now be the SVP and General Manager of EMEA and Asia Pacific.
“As we finish the second year in this challenging and dynamic pandemic environment, we continue to look for ways to satisfy our customers more efficiently and effectively to drive sustainable growth. As we extend our leadership in the markets we serve, we must also make bold changes to reduce complexity and simplify and integrate how we operate in order to ensure we can quickly evolve with the marketplace.”
The CEO of Invacare, Matt Monaghan
This is great news for the company and should help it to continue growing in the future. While it is hard to say what the long-term direction of IVC stock is, it’s clear that there is some bullish sentiment with it right now. Considering this, will it be on your list of penny stocks to watch?
Ebang International Holdings Inc. (NASDAQ: EBON)
In the past few days, EBON stock has seen sizable bullish sentiment. While it is hard to say with certainty how long this will continue, there’s no doubting that it is an exciting prospect right now. In the past five days, shares of EBON stock have jumped by over 16%. This is a substantial increase and one that is highlighted by social sentiment and speculation.
[Read More] Best Penny Stocks For January 2022 To Buy Under $5
It’s worth noting that Ebang is tied heavily to the cryptocurrency industry. And as a result, it tends to move when cryptocurrency moves. Despite Bitcoin being down in the last few days, EBON stock has been moving up. So to understand this, we have to take a look at its most recent announcements.
A few weeks ago, the company held its annual shareholder meeting. This comes on the heels of its annual report which was filed on April 30th, 2021. Aside from its ties to cryptocurrency, EBON works in the blockchain industry designing application-specific integrated circuits or ASICs.
These are used in a variety of Bitcoin mining machines, and therefore, have become very popular in the past few years. While EBON stock is highly volatile, the company does look like it could have a lot to offer the more speculative investors. With all of that in mind, do you think that EBON stock is worth buying or not?
Greenpro Capital Corp. (NASDAQ: GRNQ)
With a 3.5% gain at EOD on January 5th, GRNQ stock is once again in focus. It’s worth noting that we’ve covered GRNQ stock plenty of times in the past few weeks and over the last five days, shares have climbed by over 11%. This represents a clear bullish turnaround from its less-than-stellar twelve-month performance.
So, why are shares of GRNQ stock moving right now? Well, a few days ago, the company announced the establishment of a Shariah complaint ESGH Digital asset exchange and marketplace in Malaysia. The exchange will offer an NFT marketplace, a carbon credit exchange, cryptocurrency exchange, and more.
“Parallel to the rapid growth of the cryptocurrency industry is the rapid growth of cryptocurrency regulation, STO is considered to be a very efficient method of alternative financing. Due to the world’s trend moving towards ESG and decarbonization, and the successful track record in our CryptoSX Digital Exchange, we are expecting a large number of international issuers to list on our Shariah Compliant ESG Digital Asset Exchange.”
The CEO of Greenpro, Dr. Lee
Right now, there is a major amount of bullish sentiment with crypto and anything relating to blockchain. And, as a result, GRNQ stock could be worth adding to your list of penny stocks to watch.
Which Penny Stocks Are You Buying Next Week?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. But, because of the sheer number of penny stocks out there, investors need to be selective with the companies that they are watching. Right now, the largest impacting factor on the stock market continues to be the Omicron variant.
[Read More] Best Penny Stocks to Buy Today? 3 For Your Watchlist
With cases topping 1 million per day, we’re likely to see this massive volatility continue into the near future. Now in the long term, many investors expect that Covid cases will begin to decrease. This could eventually spark a bullish rally, however, it seems as though it is too soon to say. So, with all of this in mind, which penny stocks are you buying next week?
If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!