3 Penny Stocks to Add to Your January 2022 Watchlist
As January 13th has become a volatile trading day for penny stocks and blue chips, many investors are looking for the best small-caps to buy. Now, it can be challenging to find penny stocks that are worth buying with so much going on in the stock market.
However, because there are so many factors to consider, there is also a sizable amount of momentum to take advantage of. Right now, the main contributing factor to market volatility is the pandemic. And today, that resulted in a record jump in the price of wholesale goods as well as an unexpected climb in jobless claims.
While 230,000 unemployment filings were made last week, this remains right around pre-pandemic levels. An economist at DWS Group, Christian Sherrmann, stated that “Persistent high inflation rates together with the recent strong labor market data reinforce the hawkish narrative provided by the Fed.” So, with all of this in mind let’s take a look at three penny stocks that could be worth watching this month.
3 Penny Stocks to Add to Your Watchlist in January
- Rockwell Medical Inc. (NASDAQ: RMTI)
- Vinco Ventures Inc. (NASDAQ: BBIG)
- TDH Holdings Inc. (NASDAQ: PETZ)
Rockwell Medical Inc. (NASDAQ: RMTI)
One of the bigger gainers of the day so far is RMTI stock. By midday, shares of RMTI had pushed up by over 24% to almost $0.50 per share. While many penny stocks rise with no news behind it, Rockwell made a big announcement during premarket trading. Before we get into it, we have to take a look at what RMTI does.
If you’re not familiar, Rockwell is a biopharmaceutical company working on the development of its next-gen parenteral iron technology platform known as Ferric Pyrophosphate Citrate of FPC. The company states that this platform has the potential to treat iron deficiency as a result of several diseases. Currently, Rockwell has two FDA-approved compounds for those going through hemodialysis. Today, the company announced regulatory approval of its Triferic compound in South Korea. With more than 82,000 patients going through hemodialysis in South Korea, this could be a substantial addressable market for the company.
“The approval by MFDS is an important milestone for Rockwell Medical, but more importantly, for the more than 82,000 patients in South Korea undergoing hemodialysis. With its considerable development and commercialization capabilities and local market expertise, we believe Jeil is well-positioned to ensure that hemodialysis patients have access to our innovative therapeutic across South Korea.”
The CEO of Rockwell Medical, Russell Ellison, M.D.
With this big news in mind, does RMTI deserve a spot on your list of penny stocks to watch or not?
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures is a penny stock that we have covered numerous times in the past few months….