Buying Penny Stocks on June 28th? Here’s What You Need to Know
Finding penny stocks that are worth buying can be challenging. And despite there being a lot of positive movement in the past few trading days, the overall characterization of the stock market right now is bearish. This is the result of major inflation and subsequent climbing interest rates. Considering all of this, let’s take a look at what you missed in the stock market on June 27th.
Stock Market Recap, June 27th, 2022
On June 27th, penny stocks and blue chips took a small dive. This comes as last week ended rather well for the stock market. But, it is hard to say that we will continue to see a bullish streak due to so much bearish momentum as of late.
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In the afternoon on June 27th, we saw stocks dive alongside the 10-year U.S. Treasury yield climbing. At EOD, the Dow Jones fell by 60 points and the NASDAQ dropped by around 0.9%. So, considering that, here’s what to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Ahead of Tuesday June 28th, stock futures were climbing following a rather bearish session. On Monday night, S&P 500 and Dow Futures climbed by over 0.1% and 0.07% respectively. While these are not major gains, they are encouraging after the last few months of extremely bearish trading patterns.
While it is impossible to predict what the future of penny stocks and blue chips will look like, we do know that momentum could continue to be strong. This means that we will likely see major volatility moving forward. Considering all of this, here are three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch Right Now
- Evofem Biosciences Inc. (NASDAQ: EVFM)
- Agile Therapeutics Inc. (NASDAQ: AGRX)
- Femasys Inc. (NASDAQ: FEMY)
Evofem Biosciences Inc. (NASDAQ: EVFM)
One of the largest gainers on June 27th and that we have seen in quite some time is EVFM stock. At EOD on June 27th, shares of EVFM stock managed to shoot up by over 180%. And, during after hours, EVFM stock exploded by over 16%. While there is no news from EVFM specifically, the company has continued to climb following the decision from the Supreme Court, which overturned Roe V. Wade.
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Because Evofem produces a form of birth control that is non-hormonal, many investors have flocked to the company to profit. And it’s worth noting that we have covered it numerous times in that period as well. So, with this in mind, will EVFM be on your penny stocks watchlist or not?
Agile Therapeutics Inc. (NASDAQ: AGRX)
During trading and after-hours, AGRX stock managed to shoot up by over 10% and 10.4% respectively. And, this is even more impressive following its six month drop of over 90%. For similar reasons that EVFM stock climbed, AGRX is a women’s health focused biotech penny stock.
The company manufactured a form of birth control known as Twirla as well as Skinfusion. These are both highly popular and have become even more popular during the Roe V. Wade decision. So, while AGRX stock is highly volatile, it has shown major gains recently. So, considering that, will AGRX be on your list of penny stocks to buy.
Femasys Inc. (NASDAQ: FEMY)
On June 27th, FEMY stock pushed up by over 30% and more than 8% during trading and after hours respectively. In the past five days, FEMY stock has exploded by over 65%. For some context, Femasys is as its name may imply, a healthcare company focused on women’s needs.
This includes products such as artificial insemination, FemCerv, FemCath, FemaSeed and much more. As a result of the same reason behind the other two penny stocks on this list, FEMY is continuing to climb. With this considered, does FEMY deserve a spot on your buy list or not?
Which Penny Stocks Are You Watching Right Now?
It’s no secret that investing in penny stocks right now is not easy. However, there are still plenty of ways to profit. Right now, investors need to understand exactly what is going on in the stock market. This is the only way to be able to benefit from market momentum.
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And although it is impossible to predict what is going on or what could go on in the coming weeks and months, we do know that volatility is likely to continue climbing in that time. So, with this in mind, which penny stocks are you watching right now?
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