3 Top Penny Stocks to Watch as June Starts Strong
With June off to an interesting start, investors continue to search for ways to profit with penny stocks. When it comes to penny stocks, we know that they can be volatile. But, with the right penny stocks trading strategy, you can take advantage of this volatility to make money. Right now, there are numerous factors at play in the stock market. This includes rising inflation, climbing interest rates, geopolitical tension and more.
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All of this has created a volatile stock market. But, as we know, with volatility can come opportunity if it is taken advantage of properly. If you’re new to penny stocks, or even if you’re a seasoned investor, it’s important to have a strategy in place before you start trading. A penny stocks trading strategy will help you find the best penny stocks to buy, when to buy them and when to sell them. By following a penny stocks trading strategy, you can minimize your risk and maximize your profits.
There are a few things to consider when creating a penny stocks trading strategy. The first is to find penny stocks that are volatile. Volatile penny stocks are more likely to make big moves, which means they have the potential to generate more profits.
However, volatile penny stocks are also more risky. This is why it’s important to find the right balance of risk and reward when creating your penny stocks trading strategy. So, while there is no one foolproof penny stocks trading strategy, there are a few things you can do to increase your chances of success. With this in mind, let’s take a look at three to watch in early June.
3 Penny Stocks to Add to Your June Watchlist
- Camber Energy Inc. (NYSE: CEI)
- Imperial Petroleum Inc. (NASDAQ: IMPP)
- Gingko Bioworks Holdings Inc. (NYSE: DNA)
Camber Energy Inc. (NYSE: CEI)
A penny stock that investors are watching right now is Camber Energy. For some context, Camber Energy is an energy penny stock that has become extremely popular in the past year or so. Camber is also a trending penny stock that has been discussed frequently on Reddit, Twitter, and other social media platforms.
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And as a result, CEI can see large moves on a regular basis. While we have seen some major ups and downs with CEI stock in the past few months, it remains a staple in the energy industry. And with its Viking Energy subsidiary, the company also has hands in the clean energy sector. So, with all of this in mind, will CEI be on your penny stocks watchlist or not?
Imperial Petroleum Inc. (NASDAQ: IMPP)
Another energy penny stock that investors have been watching recently is Imperial Petroleum Inc. Imperial Petroleum has also seen some sizable gains in the past few weeks, with a 7.4% uptick on June 2nd. So, why are we seeing big moves with IMPP stock right now? Well, the latest news for the company came on May 27th when it announced the acquisition of two Suezmax tankers.
This deal worth $46.8 million, should help to sufficiently expand IMPP’s fuel delivery capabilities. While it is tough to say how this will affect it in the short term, in the long term, it’s clear that this could be a win for IMPP. Considering that, do you think IMPP is worth adding to your list of penny stocks to buy or not?
Gingko Bioworks Holdings Inc. (NYSE: DNA)
With over 16% in gains on June 2nd, DNA is a penny stock that is highly popular with investors right now. In the past five day period, we’ve seen double digit upticks with DNA, further illustrating its gaining potential. Now, in the past six months, DNA stock has fallen by over 59%. And, this could be a major part of why investors are buying DNA stock right now.
Often, we will see shares go up after falling significantly. This occurs as traders attempt to find value with beaten down stocks. The latest news from Gingko Bioworks comes as the company will be presenting at William Blair’s 42nd Annual Growth Stock Conference.
But, besides this, there has not been much noise from DNA. It’s worth noting that news did come out showing famed investor Cathie Woods purchased over 4 million shares of the company. With this in mind, will DNA be on your watchlist this month?
Which Penny Stocks Are You Watching Right Now?
When it comes to buying and selling penny stocks, there is no one size fits all answer. Each penny stock and investor is unique and therefore each trader will use a different approach. With this, we do know that there are some constants in the stock market.
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This includes doing your research into individual stocks, and understanding what is going on in the stock market. This will help you to make better penny stock trading decisions. With this considered, which penny stocks are you watching right now?
