Are These Penny Stocks on Your Watchlist Right Now
With an interesting day of trading penny stocks and blue chips here, there are a few things that all investors should know right now. Today, major Wall Street indexes began to rise in hopes of recovering some of the major losses witnessed yesterday.
What to Watch With Penny Stocks Today
After the Dow dropped by hundreds of points on January 18th, it seems as though there is a renewed sense of confidence for penny stocks and blue chips right now. But, to understand how to make money with penny stocks, we need to be able to take advantage of these factors and use them as a benefit.
[Read More] 4 Penny Stocks To Buy For Under $4 Right Now
For example, today we’re seeing a rise among tech penny stocks, with the Methttps://pennystocks.com/ticker/?symbol=WIMIaverse in focus. This is something we’ve witnessed many times over the past few months, and again today. Additionally, in the past few trading sessions, we’ve seen biotech penny stocks rise in value. One of, if not the largest contributing factor to how penny stocks are trading right now is the pandemic.
While many believe that the Omicron variant could lead to Covid becoming endemic, it may also be too soon to tell. So, consider everything wholly, and understand how this may cause certain penny stocks to gain and others to do the opposite. With that in mind, let’s take a look at three penny stocks to watch that are climbing during today’s trading session.
3 Penny Stocks to Add to Your Watchlist Today
WiMi Hologram Cloud Inc. (NASDAQ: WIMI)
One of the bigger gainers of the day so far is WIMI stock, which climbed by over 18% at midday. This is a sizable uptick and one that represents a solid bullish turnaround from its 55% drop in the past year period. While there is no company-specific news that is sparking today’s gain, there is one industry-wide event that could be responsible.
Yesterday, news dropped about Microsoft acquiring Activision Blizzard in the former’s largest acquisition to date. This sparked major positive sentiment for Metaverse stocks, which includes WIMI. So, how exactly does WiMi tie into this? Well, last month, the company announced the release of its WiMi HoloVR head-mounted display. The company states that it is the first VR device to support double-clicking see-through in China. Outside of this, WiMi, offers holographic equipment, AR/VR tools, Metaverse software, and much more.
Right now, there is a very strong emphasis on anything relating to Metaverse tech and AR/VR. And, many investors believe that this notion will only continue to increase in the near future. So, with that in mind, do you think that WIMI stock is worth adding to your list of penny stocks to buy?
Yamana Gold Inc. (NYSE: AUY)
Another big gainer of the day so far is AUY stock, pushing up by over 7% at midday. While this may not seem like a lot, it is quite substantial for a mining stock and a gold stock specifically. The main reason for today’s big move with AUY also has to do with larger industry momentum. After the price of gold dropped in the past few days, it has quickly rebounded, pushing many gold stocks up with it.
Outside of this, only a week ago, the company announced that it would report its fourth quarter and full year 2021 financial results on Thursday, February 17th. This is great news for investors, and should be on your calendar if you’re interested in AUY stock. For some context, Yamana Gold is a pure-play Canadian-based precious metals producer with a large number of development and exploration stage properties throughout the world.
It holds these properties in countries such as the Americas and specifically, Brazil, Chile, Argentina, and Canada. With several large plans for the company’s future, Yamana remains a favorite among a large number of investors of all types. Considering all of this, is AUY stock worth adding to your penny stocks watchlist this month or not?
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT)
With a 13% gain today, shares of BHAT stock are in focus as Metaverse stocks push up. Yesterday, the company announced that it has expanded its cooperation with JD Cloud, which is a brand under the JD Technology Group.
“We are pleased to have received this additional vote of confidence from JD Cloud and look forward to expanding our cooperation with them as one of their core channel partners. Xunpusen intends to continue focusing on developing its core technologies and platforms.
We believe our partnerships within the industry are critical to continuing the growth trajectory of our IDC business, and we continue to explore new cooperation opportunities and ways to deepen existing relationships such as this one.”
The CEO of Blue Hat, Mr. Xiaodong Chen
If you’re not familiar, Blue Hat operates in the communication services sector. It also offers a large range of AR focused interactive games, toys, and more in China. Despite a more than 60% drop in value in the past year, we’ve seen shares of BHAT stock present a small bullish turnaround today. So, do you think that this bullish move can continue in the next few trading days or not?
Can These Penny Stocks Continue to Make Gains This Month?
If you’re making a list of the best penny stocks to buy, there are hundreds of options to choose from. Now, understanding how to trade penny stocks in 2022 can be complicated. But, with the right information by your side and a consistent understanding of how to trade them, it can be much easier than previously imagined.
As we’ve mentioned numerous times, Covid continues to be the main factor when it comes to trading stocks in January. And while this may remain true for some time, it’s important to stay as up-to-date as possible with everything that is going on. Considering this, do you think that penny stocks can continue to make gains this month?
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