It’s a new year, and there are new penny stocks to watch! Some of these have spilled over from last year, and are still on the watchlist. Some are new. Penny stocks can make you rich. It’s possible, but not likely. But, it also depends on how good you are at choosing them. And long-term investing helps a lot, too. Unless you’re a professional stock trader.

Make sure your portfolio’s diversified. And only start with small amounts when first investing. It’s important to take emotion out of the picture completely. There are a few ways of doing this. And all of them involve altering your state of mind. The first is to only put money into penny stocks to watch that you are completely and entirely fine with losing.

It helps to understand that money is plentiful, and there’s always more to be made. You can also think of it as an investment in your education. But when you go that route, you need to make sure you learn your lesson and don’t repeat your mistake.

The second way to take emotion out of penny stock investing is to make a plan before you invest in the stock. Before you buy a stock, tell yourself how long you’re going to hold it.

The third thing is to research the company, what it does and if it’s profitable. Conducting thorough due diligence helps make sure the leaders know what they’re doing.

It’s still a risk, but it’s a calculated risk. The more due diligence you do, the better your chances are of success. And, when you find a company that doesn’t make the cut, move on.

Here are seven of the best penny stocks to watch and possibly buy into.

Best penny stocks to watch now.

Best Penny Stocks to Watch Right Now

  • Phunware (Nasdaq: PHUN)
  • Farmmi Inc. (Nasdaq: FAMI)
  • Gaotu Techedu Inc. (NYSE: GOTU)
  • Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
  • WiMi Hologram Cloud Inc. (Nasdaq: WIMI)
  • ObsEva (Nasdaq: OBSV)
  • Predictive Oncology Inc. (Nasdaq: POAI)

Best Penny Stocks to Watch

No. 7 Phunware

Phunware is on this penny stocks to watch list with a market cap sitting around $208 million. Plenty to have some experience under their belt, but still be considered small.

It focuses on helping Fortune 5,000 businesses succeed through mobile. And it’s apparently been doing a good job. Phunware has received many awards. Including one for being on Inc 500’s Honor Roll for five years in a row. Plus, one from Forbes, and another from USA Today.

No. 6 Farmmi Inc.

Farmmi is a company that grows and farms edible fungi. Not the “I’m seeing things, man” kind. Just yummy, culinary mushrooms. Some of the mushrooms they offer grow wild where I live.

Farmmi is also one of the best penny stocks to watch. It’s located in China, so it makes sense that they also farm Asian mushrooms. It does business all over the world, and is working on international growth.

Recently, they’ve been awarded a governmental honor that came with a cash prize. It’s the “Municipal Key Agricultural Leading Enterprises” award. It’s also begun initiates to rush orders. And the company is focusing on promoting development.

No. 5 Gaotu Techedu Inc.

Gaotu is a penny stock to watch with profit margins that are way down. But, its stock is beginning to pick up after a long time of falling.

This is a good one to keep your eye on because it doesn’t look that great right now. But, it’s a very scalable business model. So, it could turn into something big in the future.

No. 4 Clear Channel Outdoor Holdings Inc.

Clear Channel is one of the best penny stocks to watch on this list. It has a market cap over $1 billion. However, it’s been steadily declining over the past few years. But, it seems as though it’s trying to break out of its long-time bear.

They’re in the billboard and signage business. The company’s game is advertising and marketing. And it focuses on the outdoors to do that. In addition, Clear Channel offers marketing, advertising on buses, in airports and even on the sides of buildings. And those are just a few of the options they give companies.

No. 3 WiMi Hologram Cloud Inc.

WiMi offers holographic services. And it does this for Augmented Reality products and companies.

In fact, in December, the company announced the release of the WiMi HoloVR. This technology will be used for the Metaverse. In addition, they’ve recently been approved to enter the U.S. market, too. This is a great penny stock to watch if you’re interested in the tech industry.

Best Penny Stocks to Watch No. 2 ObsEva

ObsEva has a small market cap of $118 million. This penny stock to watch specializes in women’s reproductive health. They’re a biopharma company, and still in the clinical stage.

But, one of their products is almost to market. And it has three others that are still in the process of approval and clinical trials.

Best Penny Stocks to Watch No. 1 Predictive Oncology Inc.

This is one of the best penny stocks to watch because it mixes technology with cancer treatment. It holds several different sub-companies, each with its own niche purpose.

Predictive Oncology uses AI to help match patients with the best cancer drug treatment for them. The company recently added a new Senior Vice President to the team. And it recently reported positive results from the testing of its AI.