3 Top Penny Stocks to Watch As 2021 Comes to an End
As 2021 comes to an end, investors are searching for the best penny stocks to buy. While it may be difficult to pick penny stocks for your list given the sheer number of factors impacting the stock market, there are plenty of things to consider.
Right now, we’re seeing a bullish turnaround which could be blamed on both the corrections seen following Omicron-related fears and the Santa Claus rally. If you’re unfamiliar with the latter, it is a phenomenon seen during the last five days of the year when the stock market has historically climbed substantially.
“Whether optimism over a coming new year, holiday spending, traders on vacation, institutions squaring up their books — or the holiday spirit — the bottom line is that bulls tend to believe in Santa.”
Ryan Detrick, the Chief Market Strategist at LPL Financial
While this isn’t something to put all your eggs in, it can help to explain why we’re seeing such sizable bullish market sentiment right now. This includes the S&P 500 setting a new record at $4,767. If we consider all of the factors that are at play with both penny stocks and blue chips as 2021 comes to an end, we see the current situation that we’re in. With all of this in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
Pyro Genesis Canada Inc. (NASDAQ: PYR)
One of, if not the biggest gainer of the day so far is PYR stock, which climbed by over 67% by midday on December 27th. At one point in the day, shares of PYR stock had shot up by over 110% to $5.29 before correcting slightly.
While no news is sparking today’s gain for PYR stock, we can look at its industry placement and recent news from the company. A few weeks ago, the company stated that it will provide HPQ Silicon Resources Inc. the GEN3 PUREVAP QRR which will be completed during the first quarter of 2022. Prior to this, the company stated that the launch of its ZCE Hydrogen Production Process has commenced following the filing of several international patent applications.
“The conventional method to produce hydrogen is called “Steam Methane Reforming”, which produces GHGs as a result…PyroGenesis’ new technology is expected to combine the best of both worlds; it is expected to be cheaper than any existing hydrogen process while at the same time producing ZCE hydrogen.”
The CEO of PyroGenesis, P. Peter Pascali
This is big news for the company and shows that it is making significant progress on its business plan. With that in mind, will PYR stock be on your penny stocks watchlist following this significant gain?
Biolase Inc. (NASDAQ: BIOL)
Another big gainer of the day so far is BIOL stock, pushing up by over 11% at midday. While shares of BIOL stock are down by around 6% for the YTD period, it has seen significant gains during that period. Now, it’s worth noting that no news caused today’s gain for BIOL stock, however, we have seen this type of speculative move with the company previously.
And because of this, it is often classified as a Reddit penny stock and one that tends to trend heavily on social media. A few weeks ago, the company did announce that it had been granted a 180-day extension to meet the minimum bid requirement for the NASDAQ. In addition, it stated that it received a favorable credit agreement to help meet the requirement and move forward with its business.
If you’re not familiar, Biolase is a provider of laser systems for use in the dental industry. This includes over 300 patented and 35 patent-pending products that can provide better clinical outcomes and more favorable financial results for doctors and patients alike. So, as the biotech industry continues to make headway, does BIOL stock deserve a spot on your list of penny stocks to watch?
Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
While shares of PTPI stock were up by over 7% at one point in the trading day, they have since corrected to a 2% or so gain for the day. We’ve covered PTPI stock several times in the past few weeks for its sizable rises and intraday moves. In the past five days, shares of PTPI stock have shot up by over 13% with a six-month gain of around the same amount.
However, from November 22nd to today, shares of PTPI stock have shot up by a staggering 163%, which is no small feat. The majority of these gains stem from the company’s announcement a few weeks ago regarding it’s OTC erectile disfunction drug, STENDRA.
“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.”
The CEO of Petros Pharmaceuticals, Fady Boctor
While OTC access to the drug has not yet been accomplished, many investors are excited for what the future of PTPI stock could have. Aside from this, Petros has a large portfolio of men’s health-related compounds including those used in endothelial dysfunction, psychosexual and psychosocial ailments among more. Considering all of that, do you think PTPI stock is worth buying right now?
Which Penny Stocks Are on Your Watchlist Right Now?
With 2021 coming to an end just as quickly as it started, there are hundreds of penny stocks to choose from. While making money with penny stocks can be difficult, there are plenty of ways to do just that.
The best piece of advice is to have a consistent and well-thought-out trading strategy that aligns with what is going on in the present. With all of that in mind, which penny stocks are on your watchlist right now?
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