3 Penny Stocks to Watch That Are Climbing Right Now
Finding the best penny stocks to buy can be tricky given the volatile nature of the stock market. However, there are certain stocks that tend to be worth watching and investing in. These stocks usually have a few things in common, such as a history of stability, consistent growth, or major volatility that can be taken advantage of. When it comes to penny stocks, there are a few things you should look for before making an investment.
First, you want to understand your own investing style and goals. This will help you narrow down the penny stocks that are worth considering for you. Second, you’ll want to do your research on the company and the penny stock itself. This includes looking at financial statements, news stories, analyst reports, and anything else you can find. Because penny stocks are so speculative, having a thorough understanding of all of these can be the difference between profits and losses.
Third, you’ll want to consider the risk involved with the investment. Penny stocks are often more volatile than blue chips due to the low price and high volume. Because of that, you need to have a firm understanding of your risk tolerance before investing as mentioned above. These are just a few things to keep in mind when looking for penny stocks to buy. With a little research and diligence, you can find stocks that have the potential to generate profits. Considering this, let’s take a look at three that are climbing right now.
3 Penny Stocks to Add to Your Watchlist in Late April
- Harbor Custom Development Inc. (NASDAQ: HCDI)
- Ampio Pharmaceuticals Inc. (NYSE: AMPE)
- RLX Technology Inc. (NYSE: RLX)
Harbor Custom Development Inc. (NASDAQ: HCDI)
One of the bigger gainers of the day so far is HCDI stock. With over 14% in gains, shares of HCDI are seeing sizable bullish sentiment alongside a five day gain of more than 30%. This major bullish turnaround today could be due to an announcement that the company made on April 21st. On the 21st, it stated that it has listed six multi-family projects which total $278 million, with Kidder Mathews.
“Rental rates continue to escalate at unprecedented levels driving up project apartment values as demand for multi-family housing exceeds the limited supply in the Puget Sound Region of Western Washington. We are capitalizing on this market dynamic by listing for sale our current owned inventory of six apartment projects totaling 734 units in various stages of construction.”The CEO of Harbor Custom Development, Sterling Griffin
If you’re not familiar with Harbor Custom, it is a real estate development company. Harbor works in many areas of the industry including land acquisition, project infrastructure construction and much more. The company stated that it’s goal is to acquire and develop strategically picked land that can generate a profit in the short or long term. So, with all of that in mind, will HCDI be on your penny stocks watchlist.
Ampio Pharmaceuticals Inc. (NYSE: AMPE)
Another decent gainer of the day is AMPE stock, which climbed by more than 10.7% by EOD. In the past year, shares of AMPE stock have fallen by over 84%, which is quite substantial. However, recently, we have seen a small bullish turnaround with AMPE.
To understand why shares of Ampio are climbing right now, we have to take a look at its recent announcements. On April 20th, Ampio announced a regulatory update regarding its immunomodulatory therapies for treating osteoarthritis. It stated that it has received written responses from the FDA regarding it.
“We are very disappointed in FDA’s answer. Ampion has been in development for several years, and many shareholders have remained loyal to the company throughout the ups and downs of that development history. Severe osteoarthritis of the knee is an unmet medical need that affects nearly 17 million people in the United States, and we continue to believe that Ampion is a drug which can provide a safe and efficacious treatment for many of those patients.”The CEO and Chairman of Ampio, Mike Martino
For some context, Ampio is a biopharmaceutical company working on advancing different therapies. And in the past few months, we have seen a major amount of bullish sentiment in the biotech industry. So, with all of this in mind, will AMPE be on your list of penny stocks to watch.
RLX Technology Inc. (NYSE: RLX)
With over 7% in gains by EOD, RLX Technology is a popular penny stock that investors have been watching recently. For some information, RLX Technology is a provider of branded e-vapor products in China. This includes R&D and the sale of vaporizers in an offline distribution model as well as ‘branded store plus’ channels.
In the past few months, we have seen RLX stock climb and fall substantially due to market volatility. Much of the movement for RLX stock comes from volatility in the Chinese stock market and any government regulations regarding it. So, while RLX stock is highly volatile, it could be worth keeping an eye on if you’re interested in large movements.
Which Penny Stocks Are You Watching Right Now?
Picking penny stocks that could make you money is tricky. But, with the right amount of research and a dedication to understanding how the market moves, it can be much easier than previously imagined.
Considering that there is so much going on in the stock market right now, there is a lot to take advantage of. And, as a result of this, it all comes down to knowing how to use certain events as a benefit to your portfolio. With that in mind, which penny stocks are you watching right now?