Are These Penny Stocks Worth Buying Right Now?
3 Penny Stocks to Add to Your 2022 Small-Caps List
As we end the second full trading day of the new year for penny stocks and blue chips, there is a lot for investors to look forward to. Although 2021 was not an easy year for trading penny stocks, many believe that 2022 could help to bring in more bullish sentiment. But, right now this depends greatly on what happens in the next few months.
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With the U.S. surpassing one million daily cases of Covid, it is not an easy time to have a bright outlook. However, many also believe that the Omicron variant could help to make the pandemic, endemic. If enough people catch the variant, it could lead to herd immunity, thus improving the state of the economy in the long run. But it remains that there are a lot of unknowns. So, with 2022 well on the way, let’s take a look at three penny stocks that could be worth watching this month.
3 Penny Stocks to Watch in January 2022
- Southwestern Energy Company (NYSE: SWN)
- Alzamend Neuro Inc. (NASDAQ: ALZN)
- Uranium Energy Corp. (NYSE: UEC)
Southwestern Energy Company (NYSE: SWN)
Up by around 2.4%, today are shares of SWN stock. In the past twelve months, shares of Southwestern Energy have jumped by a sizable 52% to almost $5. To understand why SWN stock has seen so much bullish sentiment in that time, we have to take a closer look at what the company does. Southwestern Energy is a U.S.-based producer of natural gas and natural gas liquids.
The company is currently working on the development of several large-scale energy assets in the U.S. only a week or so ago, the company announced an exciting update. It stated that it had closed on the acquisition of GEP Haynesville, LLC. This transaction will add key inventory to the company as well as the potential for enhanced margins down the line. In December of 2021, the company completed a $1.15 billion offering of 4.75% senior notes due 2032. Additionally, it raised roughly $500 million through an institutional term loan. All of this shows that Southwestern Energy seems like it is in an advantageous cash position right now.
While it is hard to tell with certainty where the company will go in the future, the energy industry is on fire right now. And with rising prices for fuel and raw oil around the world, we could see SWN stock continue to receive heightened attention. With this in mind, will SWN be on your list of penny stocks to watch?
Alzamend Neuro Inc. (NASDAQ: ALZN)
Another popular penny stock to watch right now is Alzamend Neuro. In the past month, shares of ALZN stock have shot up by a respectable 12%, including a 2.4% gain on January 4th. Despite an 83% drop in the past twelve months, it seems as though ALZN stock is seeing a slight bullish turnaround right now.
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The most recent news from the company came in mid-December when it announced positive early-stage data from its Alzheimer’s drug candidate. It stated that its candidate known as AL001 posted positive topline data for the Phase 1 trial in those with Alzheimer’s.
“This is amazing news. We see the possibility of providing the benefits from lithium at up to 50% of the currently approved lithium carbonate dosage, with the potential for better outcomes and with elimination of the need for lithium therapeutic drug monitoring.
Moreover, the data confirms AL001’s potential as a replacement of the current lithium-based treatments and may provide a treatment to the over 40 million Americans suffering from Alzheimer’s and other neurodegenerative diseases and psychiatric disorders.”
The CEO of Alzamend, Stephan Jackman
While there is still a lot in the works as this is only a Phase 1 trial, it is without a doubt, exciting news. Considering that, does ALZN stock deserve a spot on your penny stocks watchlist in January 2022?
Uranium Energy Corp. (NYSE: UEC)
With an almost 3% gain on January 4th, UEC stock is once again in the public eye. And while many gains like this occur without news, a big announcement today sparked a sizable rally among many uranium stocks.
The announcement came as Europe stated its goal to go green by the year 2050. And, it stated that it will begin classifying nuclear energy as a form of green energy with billions in subsidies. This is a huge deal and could revamp the way that nuclear energy is used and seen globally. In the past, nuclear has gotten a bad rap despite its relatively high safety profile and incredible efficiency.
And while this is not a material game-changer for UEC stock alone, it could help to bolster green energy efforts in the long term. Aside from this, only a few weeks ago, the company completed the acquisition of Uranium One America to built out one of the largest uranium companies out there. The purchase worth $112 million, is a major deal and funded completely with UEC’s cash on hand. So, with all of this exciting news in mind, do you think that UEC stock is worth buying right now or not?
Can Penny Stocks Continue to Climb This Year?
While it’s hard to say with certainty whether penny stocks can continue to climb, 2022 already is showing sizable bullish sentiment. Now, there are a lot of unknowns that investors need to consider. First and foremost is the pandemic and the trajectory of the Omicron variant. With the U.S. hitting 1 million cases per day for the first time, many believe that the highly infectious variant could also lead to the end of the pandemic.
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But right now, it is likely that we will continue to see cases rise for some time. So, with this comes the potential to take advantage of certain events as well. With penny stocks, large industry movements can offer investors an opportunity to make money with fluctuations. Considering all of this, do you think that penny stocks can continue to climb this year?
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