Buying Penny Stocks on June 3rd? Here’s What You Need to Know
If you’re looking to find the best penny stocks to buy right now, there are plenty of options to choose from. And although the stock market is highly volatile in 2022, there is a lot of profit to be had.
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But, investors need to ensure that they are doing ample research and considering what is going on in the market at large. This is the best way to ensure that you have a higher chance of succeeding with penny stocks. With this in mind, let’s take a look at what you may have missed on June 2nd.
Stock Market Recap, June 2nd, 2022
On June 2nd, we saw major bullish sentiment in the stock market. This added to the overall gains in the week so far, leading to Thursday ending the week in the green. All three of the major indexes saw major upticks with the Dow S&P 500 and NASDAQ, climbing by 1.3%, 1.8%, and 2.7% respectively. These are substantial moves that show we could see bullish sentiment begin to return. With this in mind, let’s take a look at what trading could look like today.
What to Know About Trading Penny Stocks Today
After the market closed on June 2nd, we saw stock futures rise. This could be due to jobs data that comes out Friday morning among other factors. And, right now, many investors are working to snap up penny stocks and blue chips at bare bottom prices. So, while it is tough to say if today will be another gaining today, it is clear that there is bullish momentum right now. With this in mind, let’s take a look at three penny stocks to watch today.
3 Penny Stocks to Watch Today
- Tomi Environmental Solutions Inc. (NASDAQ: TOMZ)
- Liquidia Corp. (NASDAQ: LQDA)
- AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
Tomi Environmental Solutions Inc. (NASDAQ: TOMZ)
One of the bigger gainers of the day on June 2nd was TOMZ stock. At EOD, shares had shot up by over 7.5%. While it is tough to say why, we can look at some of its recent announcements to try and deduce a reason.
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Recently, the company presented at the INTERPHEX 2022 Technical Conference. And prior to this, it announced its Q1 2022 financial results. In the results, TOMI announced sales growth of 11% YoY, with a 15% growth QoQ. So, while it is hard to say if TOMZ is worth it or not, it could be a worthwhile addition to your penny stocks watchlist.
Liquidia Corp. (NASDAQ: LQDA)
Another penny stock that is popular right now is LQDA stock. At EOD on June 2nd, shares of LQDA managed to shoot up by over 12%. And, during after hours, we saw a sizable 3.2% gain. These upticks are substantial and could be due to an announcement made on the 2nd.
On Thursday, the company stated that it would be participating in the Jefferies Healthcare Conference. This conference takes place from June 8th-10th, and will be a great opportunity for investors to see what Liquidia is up to. Considering this, will it be on your list of penny stocks to buy or not?
AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
ACRX is a penny stock that we have covered numerous times in the past few months. And on June 2nd, shares of ACRX stock shot up by over 5.6% during trading and more than 7% during after hours. These gains are tough to characterize as the company has not released any news or announcements in the past few days.
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But, on May 19th, the company stated that the FDA modified the Risk Evaluation and Mitigation Strategies requirements for its DSUVIA product. This is the latest update from AcelRx, although we have seen sizable bullish sentiment with biotech stocks as of late. With this in mind, does ACRX deserve a spot on your buy list or not?
Are Penny Stocks Worth Buying Right Now?
If you’re looking for penny stocks to buy, there are plenty to choose from. But, given the sheer amount of volatility we’re witnessing the stock market, it can be easy to lose money if one does not trade carefully. So, always make sure to understand exactly what is in play and how to take advantage of that. Considering this, do you think that penny stocks are worth buying right now or not?
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