3 Top Penny Stocks to Add to Your Watchlist Right Now
After a very bullish day of trading for penny stocks and blue chips, investors are now wondering what stocks to buy moving forward. Many penny stocks have seen their values increase in the last day or two, however, we should not take this as a sign that they will continue to do so in the coming weeks and months.
Rather, because there is so much volatility in the stock market right now, investors need to take every day as it comes and not get too caught up in the moment. With penny stocks, volatility can be used as an advantage. This comes into play when short-term investors buy stocks that they think will go up in value in the very near future and then sell them as soon as they reach their target price. This can be a very profitable strategy, but only if the investor is able to correctly predict which stocks will rise in value.
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For those looking for a long term investment, it is all about understanding which penny stocks have value now, and which could have more value in the long term. While this is nearly impossible to predict, it is still important to do your research on a stock before investing in it.
This means looking at the company’s financials, understanding their business model, and getting a general idea of where the company is headed. By taking all of this into consideration, you can make an informed decision about whether or not a penny stock is a good investment for you. With this in mind, let’s take a look at three top penny stocks to watch after a bullish trading day.
3 Top Penny Stocks to Watch as May Comes to an End
- Geovax Labs Inc. (NASDAQ: GOVX)
- Endo International Plc. (NASDAQ: ENDP)
- FuelCell Energy Inc. (NASDAQ: FCEL)
Geovax Labs Inc. (NASDAQ: GOVX)
One of the more bullishly traded penny stocks of the past few days is GOVX stock. And with over 23% in gains on May 26th, it’s clear that GOVX stock is in focus right now. During its five day uptick of over 155%, we’ve covered Geovax multiple times. But, if you’re not familiar, it’s worth taking a closer look.
The most recent news came on May 25th when the company announced a $20 million registered direct offering. This is clearly a play to take advantage of its recent trading patterns. The main news causing the company’s gains however, is its recent notice of allowance for its cancer vaccine patent in China.
While this is encouraging, we have also seen a major amount of bullish sentiment in the biotech industry at large. This has caused companies like GOVX and others to see major upticks in value. Now, keep in mind that GOVX stock is highly volatile. But, if you’re looking for a penny stock that is going to make large market fluctuations, GOVX stock could be for you. Considering this, will it be on your list of penny stocks to buy or not?
Endo International Plc. (NASDAQ: ENDP)
Another major gainer of the day on May 26th is ENDP stock. With over 18% in gains during trading and more than 6% during after hours, ENDP is clearly in focus. Just a few days ago, we saw shares of ENDP stock come crashing down as the company worked to restructure more than $8 billion worth of debt. And since then, it has been mostly a bearish case for Endo International.
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However, some investors looking to get into the company at a low price, are seeing value in it right now. It’s worth noting that its almost 80% drop in the past month is concerning. This means that if you’re not looking for a volatile penny stock to watch, ENDP may be worth avoiding. However, if you are, ENDP could be a worthwhile add to your penny stocks watchlist.
FuelCell Energy Inc. (NASDAQ: FCEL)
FCEL is another penny stock that we have covered multiple times in the past few months. And with over 9.5% in gains during trading on May 26th, it’s worth looking into it once more. Despite a six month drop of over 55%, the recent bullishness on the energy industry has offered positive trading sentiment to FCEL stock. And as a hydrogen-energy penny stock, FCEL is at the center of the renewables movement.
Recently, the rising price of oil and gas around the world has put a spotlight on clean energy and more affordable sources of power. And while hydrogen may not be the overall answer, it does present a case for clean power.
Now, as stated with the other penny stocks on this list, FCEL is highly volatile. This means that it could see major ups and downs during the trading day. However, we do continue to see solid sentiment overall for the energy industry. So, if you’re interested in large price fluctuations, FCEL could be worth watching right now.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy can be challenging. But, with so many options to choose from, there are penny stocks for investors of all types. In 2022, it all comes down to knowing what is going on in the stock market and how to take advantage.
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While it can be tough due to the high rate of volatility we’re witnessing, there are plenty of ways to profit with small caps right now. Considering this, which penny stocks are you watching right now?
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