"We are disappointed with our third-quarter results driven by the macroeconomic headwinds that are influencing the spending of our core demographic…While we could not have anticipated the rapidly evolving nature of this impact on our consumer, we have responded quickly to focus our marketing on helping support them during this time, while we also move upstream with higher income demographics through the Challenger Campaign and investments in our Dental Partner Network."
With another round of earnings on the way, this household name is likely one that will be watched closely for any sign of a turnaround story in 2022.
Clear Channel Outdoor Holdings Inc. /zigman2/quotes/202242861/composite CCO -3.42%
If you drive on most major highways, you're probably familiar with Clear Channel Outdoor in some form. The company's model focuses on outdoor advertising using billboards, bus stops, and wallscapes.
Unlike the others on this list, Clear Channel has made a solid move since the depths of the 2020 pandemic. CCO stock rose from under $0.50 in 2020 to as high as $3.70 last year. The resurgence of retail and other public gatherings breathed life back in the advertising industry. Clear Channel was a clear beneficiary.
CCO stock has weathered the storm better than many other companies despite the recent market sell-off. With a new CEO in place, Scott Wells wants to "accelerate momentum and new growth" Clear Channel aims to pursue. Furthermore, earnings are coming on February 24th, which should give some deeper insight into just how well Clear Channel Outdoor could turn things around in 2021 vs. 2020.
Express Inc. /zigman2/quotes/210459169/composite EXPR -3.67%
Clothing and accessory retailer Express Inc. is also on this list of penny stocks . It had a brief stint as one of the 2021 meme stocks to watch . Then the market reset, and investors focused specifically on the growth and recovery plans of the company as economies reopened.
Express ultimately saw a robust first half of the year last year. But since then, EXPR stock's performance has been less than stellar. Like Party City and others on this list, Express has fallen short of expectations into the new year. For instance, third-quarter results showed the company missed sales estimates even after beating on EPS by a wide margin. Same-store sales also surged during the quarter. Tim Baxter, Chief Executive Officer, explained in a December update, "Our results provide tangible evidence that the versatility, quality, and value of our product is resonating with consumers. I am confident that we will continue to deliver positive comparable sales and gross margin expansion versus 2019 in the fourth quarter."
Indeed, the next round of Q4 and full-year financials will give the market a better idea of what to expect in early 2022.
Penny Stocks & Household Names
Investing in what you know isn't the end-all for making money in the stock market. It's also essential to understand specific trends that are in place that could impact certain stocks. In the case of these household penny stocks, there are many other instances to factor into an investment thesis. The biggest question is will they be able to recover in 2022 or not? With earnings season in full swing, guidance could be something to pay close attention to if any of these are on your list right now.
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