3 Penny Stocks to Watch in December 2021
Making a penny stocks watchlist for December 2021? If you answered yes, there are plenty of options to choose from. But, before picking penny stocks for your watchlist, the best course of action is to have a thorough understanding of what’s going on in the market. Right now, the most pressing factor is inflation in the U.S.
While this may seem like a negative, because penny stocks are so speculative, factors such as inflation can present an opportunity to make money with small caps. In addition, understanding how to trade penny stocks will be a great asset in your toolbox. Considering all of this, let’s take a look at three penny stocks to add to your watchlist in December 2021.
3 Penny Stocks For Your December 2021 Watchlist
Enel Chile S.A. (NYSE: ENIC)
Enel Chile S.A. is a penny stock that has shot up by over 15% in the past five days, which is no small feat. If you’re not familiar, Enel Chile is a company that offers electricity utility services. These services include the generation, transmission, and distribution of electricity. As of December 31st, 2020, the company had 7,200 megawatts of installed capacity with 109 generation units. As of the same date, Enel distributed electricity to about 2 million customers.
On Sunday, Chile’s first round of presidential election voting ended. The result of the poll was more or less expected. After this took place, the Chilean peso increased by about 3.5% on November 22nd. This caused a lot of Chilean energy stocks, such as ENIC stock, to increase in value.
Enel Chile has not released any recent updates, yet its stock price has been increasing in the past few days as mentioned previously. Just five days ago, ENIC stock was at $2.07 per share and now it has reached $2.26 per share. Noting this new info, will ENIC make your penny stock watchlist before November ends?
Qualigen Therapeutics Inc. (NASDAQ: QLGN)
Qualigen Therapeutics Inc. is a biotech penny stock that just shot up by over 100% on November 23rd before dropping by around 40% only a day later. This is a major gain and one that shows both how speculative QLGN stock is and the potential that the company could have. If you’re not familiar, Qualigen develops novel therapeutic products for treating rare cancers. Additionally, Qualigen offers the FastPack diagnostic platform. This platform has been used in diagnostics for 20 years and is FDA-cleared and CE-marked. In its therapeutics pipeline, QN-247 and RAS-F are among its products.
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On November 15th, Qualigen Therapeutics released its third-quarter results for 2021. During this period, its quarterly revenue went up 38% year over year to $1.2 million compared to $0.8 million. In addition to this positive news, the company’s YTD revenues went up 30% year over year to $4.2 million. As of September 30th, 2021, Qualigen had $12.3 million in cash and cash equivalents. These numbers are very positive and show that the company is working hard to grow right now.
“As the country emerges from the pandemic and visits to medical offices are on the rise, we have experienced a corresponding recovery in our FastPack test kit sales. We continue to be encouraged by this increase. In the meantime, we continue efforts to develop our therapeutics business, which is focused on novel approaches to rare cancers.”
The Chairman, CEO, and President of Qualigen, Michael S. Poirier
The triple-digit percentage gain for QLGN stock is exciting, however, it should be taken with a grain of salt. With that in mind, whether QLGN stock deserves a spot on your penny stocks watchlist or not is up to you.
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Petros Pharmaceuticals Inc. is a penny stock that climbed by over 75% on November 23rd, before correcting only a day later. However, on November 24th, shares of PTPI stock ended the day with a 3% gain. Similar to Qualigen, Petros Pharmaceuticals is a biotech corporation that develops, acquires, and commercializes various therapeutics. Primarily, Petros develops therapeutics for men’s health issues. These health issues include erectile dysfunction, endothelial dysfunction, Peyronie’s disease, and more. One of its main products is STENDRA used for patients with erectile dysfunction.
On November 15th, Petros reported its third-quarter financial results for 2021. During this quarter, the company’s net sales totaled $2.2 million. This number is comprised of $1.4 million in net sales from prescription medicines and $0.8 million from medical devices. As a result, Petros’s net sales this year were lower than in 2020. This was the same case with the company’s gross profit, decreasing from $2.5 million to $1.8 million year over year.
While these results are not ideal, Petros is making positive progress in its pipeline. The company’s current goal is to get its STENDRA treatment labeled as an over-the-counter treatment by the U.S. Food and Drug Administration. The President and Chief Commercial Officer of the company, Fady Bocter said, “While we are still in the very early stages of this process, we believe the market opportunity is significant. Currently, there are no FDA-approved erectile dysfunction medications on the market that are available without a prescription.”
Although its results are nothing to write home about, the revenue that biotech companies see is fully dependent on commercialization. As a result, the company could work to move closer toward non-prescription FDA approval for its products. With that in mind, does PTPI stock deserve a spot on your list of penny stocks to buy?
Are These Penny Stocks on Your Watchlist Right Now?
If you’re looking for the best penny stocks to buy, there are plenty of options to choose from. As a result of the long list of penny stocks, the opportunities to make money with small caps in 2021 is palpable.
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But, as prudent investors, doing the research will always be your best chance at success. This means understanding exactly what the company does and how to take advantage of that. With this in mind, are any of these penny stocks on your watchlist right now?