5 Penny Stocks to Watch in 2022
Are you looking for cheap stocks to watch?
I made this list with you in mind, hopefully you’ll find it helpful.
Without further ado, let’s get to it.
1- Transocean Ltd. (NYSE: RIG)
Transocean Ltd is one of the penny stocks to watch this year. It’s an offshore drilling company that has been around for decades.
It’s a leading international provider of drilling services for oil and gas wells.
particularly, the company focuses on ultra-deepwater and harsh environment drilling services.
They also believe that they operate one of the most versatile offshore drilling fleets in the world.
“For generations Transocean and its legacy companies have led the offshore drilling industry with the most innovative and sophisticated technology.” (Transocean)
Last year they’ve released a newsletter stating they have secured the maiden contract for Deepwater Atlas.
It’s a $252 million firm contract.
Prior to that announcement, they have had already signed two contracts with two different companies to drill in the Gulf of Mexico and US.
These jobs should start this year during the first quarter.
Since investors have been watching and waiting, we started seeing movement in their stock this year.
It’s remain to be seen how well it will perform this year.
Therefore, it’s a stock that you should have in your penny stocks watch list.
2- Denison Mines Corp. (DNN)
“Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan.” (Denison Mines)
DNN is up 105% over the past year and it does look like this the trend will continue throughout this year.
As governments trying to curtail fossil fuel usage, the demand for nuclear energy will increase.
The company has seen some very good numbers in its last financial report, it’s a suggestion that things is going on the right way for them.
This stock may be beneficial from government changes, it definitely should be in your penny stocks watch list if you’re creating one right now.
3- Sundial Growers (NASDAQ: SNDL)
Sundial Growers is a company based in Canada that sales cannabis products.
Unlike in the US, where many states legalized the purchase and usage of cannabis products, Canada has very strict laws against it.
However, the company is not going to do business only in Canada as their management plans to have products selling worldwide.
Last October, the company acquired the beer, spirit, and wine retailer Alcanna to add a cannabis-based line of drinks.
It’s an under a dollar stock, it’s currently selling at $0.59.
As the US is working toward legalizing cannabis on a federal level, Sundial Growers will be one of the benefited companies.
Their actions so far tell us their striving for the future.
4- Flotek Industries, Inc. (FTK)
This company involves in oil & gas related equipment and services.
The most important thing about them is that they’re a technology-driven, specialty green chemistry and data company.
With global warming taking effect, governments around the world start to notice that changes are needed.
For the moment, Flotek Industries Inc. stays very attractive to investors due their plans for the future.
We can assume that many things we’re using today will be eco-friendly in the future.
Flotek Industries is a company that’s able to help in some ways.
5- Energy Focus Inc. (NASDAQ: EFOI)
Last but not least, Energy Focus Inc. is picked as a buy by financial analysts.
Energy Focus is an industry-leading innovator of sustainable LED lighting and lighting control technologies.
Three weeks ago, the company raised $4.5 million via equity offering.
The net proceeds are intended to be used for general corporate purposes.
The market didn’t receive the news well because their stock price plummeted afterwards.
Analysts believe it’s a good stock to watch this year given that it’s trading very cheap.
The company is working, hopefully this year the price can get back up to its usual state.
Having a penny stock watch list ready at your disposal is something that will always come in handy to you.
Since the market is so unpredictable, buying and selling can occur without a concrete plan.
Meaning that you may own a stock, you gain your profit and move on to the next one.
Therefore, your penny stocks watch list will always be your pool to pick your next play.
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