Buying Penny Stocks on May 26th? Here’s What You Need to Know
If you’re looking for penny stocks to buy as May comes to an end, there are plenty of options to choose from. But, understanding exactly what is going on in the stock market and how to take advantage are both crucial steps.
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Recently, there has been an extreme level of volatility in the stock market that has created a very tough investing environment. So, with that in mind, let’s take a look at what you may have missed on May 25th, 2022.
Stock Market Recap, May 25th, 2022
On May 25th, stocks rose following minutes from the Federal Reserve’s latest meeting. The minutes showed that the Fed plans to raise interest rates in a method to fight inflation.
During trading, indexes like the S&P 500 and Dow Jones rose by 0.9% and 0.6% respectively. While this is a positive sign, this comes after the stock market has seen extremely high rates of bearish trading in the past few weeks. With that considered, here’s what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
After a positive trading day on May 25th, investors are excited about the potential of another bullish trading day. When the market closed on Wednesday, futures dropped slightly while International equities climbed.
This is once again, a continued example of the high rate of volatility we’re witnessing in the stock market right now. The main issues at play include rising inflation, and climbing interest rates as a result. Because of that, we will likely continue to see large fluctuations moving forward. With that in mind, let’s take a look at three penny stocks to watch today.
3 Penny Stocks to Watch Today
- FuelCell Energy Inc. (NASDAQ: FCEL)
- Core Scientific Inc. (NASDAQ: CORZ)
- AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
Fuel Cell Energy Inc. (NASDAQ: FCEL)
During trading on May 25th and into after-hours, shares of FCEL stock shot up by over 6.4% and 5.5% respectively. This is a sizable gain for the company and one that comes after hydrogen-based energy penny stocks are in popularity.
Recently, we’ve seen oil prices climb substantially, resulting in a focus on other and potentially more economic energy sources. For that reason, FCEL has seen a large amount of attention in the past few trading days. With that in mind, will FCEL be on your list of penny stocks to buy?
Core Scientific Inc. (NASDAQ: CORZ)
Another gainer on May 25th and in after-hours is CORZ stock. In those periods, CORZ pushed up by over 3.2% and more than 4.8% respectively. And after the past month drop of over 40%, this is a welcomed advancement for investors to consider.
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The most recent news from the company came as it announced its financial results for the period ending on March 31st. In the results, its revenue increased by 255% with gross profit pushing up by a staggering 382%. With these numbers in mind, does CORZ stock deserve a spot on your penny stocks watchlist?
AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
With over 5% in gains during after hours trading, ACRX is a biotech penny stock that many investors are watching right now. Despite a six month drop of over 64%, it’s clear that there is some bullish sentiment that is returning to ACRX stock. As a result, we’ve seen a slight turnaround in the last few trading days, resulting in ACRX being more popular recently.
If you’re not familiar, AcelRx is a specialty pharmaceutical company focusing on developing and commercializing therapies for use in issues such as pain management and more. While it is tough to say why ACRX is gaining right now, there’s no doubting that it is an encouraging uptick.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. With so many different penny stocks to choose from, investors have to be selective and understand exactly what is going on in the stock market.
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As stated earlier, the largest factors causing movement in the stock market are rising inflation, increasing interest rates and more. So, with all of this in mind, which penny stocks are you watching right now?
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