3 Penny Stocks to Add to Your Watchlist in Late March
If you’re looking to invest in penny stocks in March, you’ll want to take a look at the best stocks to buy. The stock market is always changing, so it’s important to stay up to date on which stocks are performing well. Some of the best penny stocks to buy in March include tech stocks, healthcare stocks, and energy stocks to name a few.
Are Penny Stocks Worth It or Not?
If you’re looking for a little bit of stability in your investment, stocks in these sectors have been on the rise in the past few months due to geopolitical and economic shifts. However, it’s always important to do your own research before investing in any stock.
The stock market can be volatile, so it’s important to invest wisely and not put all your eggs in one basket. If you’re unsure about which stocks to invest in, making a watchlist is the best place to start.
In addition, understand your investing profile will be a major benefit. This includes knowing what your risk tolerance is, what your investment goals are, and how much you’re willing to lose.
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With this information, you’ll be able to make better-informed decisions about which penny stocks to buy in March. Some popular penny stocks right now include Jaguar Health Inc. (NASDAQ: JAGX) and Boxlight Corp. (NASDAQ: BOXL) among others. But, as you can see, it can be difficult to tell based on recent momentum.
With penny stocks, it is all about understanding the news and how that will impact your watchlist. Because penny stocks are so speculative, knowing what is going on in the world and how it might affect the stock market is crucial.
Staying up-to-date on current events will help you make better investment decisions. For example, if there’s political unrest in a country, such as with Ukraine, certain impacts will be made to the stock market. Considering this, let’s take a look at three hot penny stocks to watch in late March.
3 Hot Penny Stocks to Watch in Late March
- Ideanomics Inc. (NASDAQ: IDEX)
- Gaotu Techedu Inc. (NYSE: GOTU)
- Astra Space Inc. (NASDAQ: ASTR)
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics is a penny stock that we have discussed numerous times in the past few months. And in the past five days, shares of IDEX stock have shot up by almost 10%. This is a sizable gain and one that reflects both bullish sentiment on Ideanomics, and the industry right now.
The biggest recent news for Ideanomics came on March 18th. On the 18th, the company announced the receipt of notice from the NASDAQ regarding late filing of its annual Form 10-K. It stated that it is no longer in compliance with the NASDAQ Listing rule, however, this will have no immediate effect on the company.
Now the company plans to move forward to file this form, so that it can regain compliance. If you’re not familiar, Ideanomics works in two distinct business models. On one hand, the company offers electric vehicle adoption through its mobility division. And on the other hand, Ideanomics works in groundbreaking fintech solutions. So, with all of this exciting news in mind, will IDEX be on your penny stocks watchlist or not?
Gaotu Techedu Inc. (NYSE: GOTU)
One of the largest gainers of the day on March 18th is GOTU stock. By EOD, shares of GOTU had shot up by over 20% to more than $2.24 per share. This is a major gain for GOTU and adds up to a five-day gain of more than 50%.
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The reason for this gain comes as the Chinese stock market had a major crash earlier in the week. This resulted in most stocks domestically falling substantially in value. But, with many looking to find penny stocks at value prices, GOTU and other Chinese stocks have come up on the search.
A few months ago, Gaotu took another major blow following the regulation of the education industry domestically. And because of this, we saw GOTU and other similar companies lose the majority of their values. Now, despite this, GOTU stock has been able to gain some ground, albeit not much. So, considering this will GOTU be on your list of penny stocks to buy?
Astra Space Inc. (NASDAQ: ASTR)
Up by over 13% at EOD on March 18th is Astra Space Inc. In the past five day and one month periods, shares of ASTR stock have shot up by over 20% and 45% respectively. Despite a one-year drop of more than 60%, it’s clear that there is a sizable amount of bullish sentiment for ASTR stock right now.
The most recent announcement from the company came on March 17th. On the 17th, it announced that it would reschedule its Q4 2021 and year end financial results to March 31st. While it is tough to say why this caused the major gain today, investors do seem excited about the future of the company and these upcoming results. Whether this makes ASTR stock worth buying however, is up to you.
Which Penny Stocks Are You Watching in March?
There’s no easy answer when it comes to penny stocks. They can be a great way to grow your wealth, but as with any investment, there is risk involved. There’s no guarantee that you’ll make money with penny stocks, but if you’re smart about it and pick the right companies, you could see some serious growth.
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If you’re thinking about investing in penny stocks, it’s important to do your research and understand the risks involved. Penny stocks are often more volatile than stocks that trade on major exchanges, so they can be riskier than others. However, if you’re willing to take on the risk, they can also be a great way to grow your portfolio. With this in mind, are penny stocks worth buying right now or not?
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