3 Penny Stocks to Add to Your Watchlist Next Week
If you’ve invested in penny stocks in the past few months, you’re likely used to the high level of volatility that we’ve seen. And while large market fluctuations are characteristic of penny stocks, the degree at which they’ve occurred recently is almost unparalleled. As a result, some investors are on edge about the future and others are taking a cautious approach to the market.
But, to understand which you should be, let’s take a look at the current state of the stock market. One of the largest worries right now continues to be inflation. In November, the Consumer Price Index, which tracks the price of common consumer goods, rose by almost 7% as compared to November of 2020. This represents the quickest annual rise since June of 1982.
[Read More] Got $5 to Spend on Penny Stocks? Check These 4 OutLuke Tilley, the Chief Economist at Wilmington Trust, states that “What we’re looking for is a deceleration as we go forward over the course of 2022. That doesn’t mean prices are going to go down, it’s just a question of, are they going to go up as much in 2022 as in 2021 without the kind of fiscal stimulus we’ve had this year?”
While no one is doubting that inflation is a big deal, there are still plenty of ways to make money with penny stocks in 2021. With that in mind, let’s take a look at three that could be worth watching next week.
3 Penny Stocks For Your Watchlist This Week
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Camber Energy Inc. (NYSE: CEI)
- Yamana Gold Inc. (NYSE: AUY)
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Petros Pharmaceuticals is a biotech penny stock that specializes in men’s health. The company is focused on identifying, developing, acquiring, and commercializing innovative therapeutics for men’s a large variety of men’s health issues. These issues include erectile dysfunction, endothelial dysfunction, psychosexual and psychosocial ailments, Peyronie’s disease, hormone health, and substance use disorders.
On December 8th, Petros announced positive over-the-counter label comprehension study results. These study results were for its erectile dysfunction drug called STENDRA. Early indicators from the study show positive label comprehension outcomes, which is encouraging Petros to take the next steps. These next steps include a self-selection study as it continues to make a case for the FDA for OTC access to the drug.
”The label comprehension study is a key component of our plans to help expand access for STENDRA beyond the prescription model, and to make STENDRA potentially the first prescription-grade ED medication to become available over-the-counter in the United States.”
Fady Boctor, the CCO of Petros
Amid these positive recent developments, PTPI stock has been increasing in value. On December 10th, PTPI stock went up 14.4% as of the market close. Based on this recent momentum, will PTPI be on your list of penny stocks to watch?
Camber Energy Inc. (NYSE: CEI)
Camber Energy Inc. is a penny stock in the energy sector that has been discussed frequently due to its strong market momentum. If you’re not familiar, Camber is an oil and gas company that buys and develops energy-related properties. Crude oil, natural gas, and natural gas liquids are among the products that it sells. The company had total estimated proved reserves of 133,442 million barrels of oil equivalent as of March 31, 2020.
[Read More] These Penny Stocks Exploded Today, Here’s WhyAt the start of this month, Viking Energy Group Inc., Camber’s majority-owned subsidiary, signed a Membership Interest Purchase Agreement. In this deal, Viking will purchase 100 percent ownership in a group of companies working on a processing plant in Reno, Nevada. The group of enterprises is constructing, engineering, developing, and preparing the facility for commercial usage.
The plant’s annual production capacity is estimated to be at 43 million gallons. Renewable diesel, a biofuel that is chemically equivalent to petroleum diesel fuel, will be produced at this facility. CEI stock has continued to see solid momentum throughout the last five trading days with more than 8.9% in growth. This trend continued on December 10th, when its stock price increased by 2.8%. Additionally, there is a sizable amount of bullish interest in the energy industry right now that could be a contributing factor in CEI’s growth. With this to consider, will CEI be on your penny stocks watchlist?
Yamana Gold Inc. (NYSE: AUY)
Yamana Gold Inc. is a precious metals producer based in Canada with significant gold and silver production at its development stage properties, exploration properties, and land positions. These properties are located around the world in countries such as Canada, Brazil, Chile, and Argentina. Yamana intends to build on its business by expanding and optimizing existing operating mines, developing new mines, advancing its exploration properties, and, on occasion, pursuing additional consolidation possibilities.
On October 28th, the firm released its third-quarter results for 2021. Yamana stated that its objective of producing 1,000,000 gold equivalent ounces by the end of 2021 is currently on track. Yamana earned $27 million in the third quarter of this year, or $0.03 per basic and diluted share. The company’s mine operating earnings increased by 8% to $154 million in the third quarter.
Yamana Gold stated in its report, “Yamana believes that a strong financial position and financial resilience also requires a manageable debt maturity profile, and the Company has taken advantage of current market conditions to improve terms of its outstanding notes by increasing tenor and reducing carrying costs.” On December 10th, AUY stock is up 0.5% at EOD. With its recent results to note, will AUY stock be on your watchlist before this year ends?
Which Penny Stocks Are You Watching Right Now?
As we continue to barrel toward the end of the year, finding the best penny stocks to buy continues to be a task that many take on. And although high market volatility has incited fear, there are still plenty of ways to make money with penny stocks right now.
[Read More] 4 Penny Stocks To Buy For Under $5 Before 2022
The best way to have a high chance of profitability is to thoroughly understand what is going on in the stock market. Considering all of this, which penny stocks are you watching right now?
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source https://d0llars.com/best-penny-stocks-to-buy-this-coming-week-3-to-watch/
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