Are These Penny Stocks on Your Buy List Right Now?
With another day of bearish trading patterns for penny stocks and blue chips, there is a lot for traders to know. As a result of the past few months of trading penny stocks, most investors are eager to see bullish trading patterns. But, due to rising inflation, uncertainty about the future of the stock market, and climbing interest rates, we are likely to continue to see high volatility across the board.
So, to take advantage of this, penny stock traders need to be extra careful about the stocks they select and the strategies they employ. One of the most crucial steps to take is to do your research. Always make sure you know everything there is to know about a penny stock before investing. Read up on the company’s financials, its management team, and its business model. In addition, because penny stocks are so speculative, they tend to be heavily swayed by news and events. This means that understanding what is going on in the stock market will always be paramount to making money with small caps.
Events such as FDA news, earnings releases, and M&A activity can all trigger big moves with penny stocks. So, make sure you are always up-to-date on the latest happenings. The bottom line is that trading penny stocks can be a great way to make money. But, it is important to remember that risk should always be considered. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- Idera Pharmaceuticals Inc. (NASDAQ: IDRA)
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Verb Technology Company Inc. (NASDAQ: VERB)
Idera Pharmaceuticals Inc. (NASDAQ: IDRA)
One of the bigger gainers of the day so far is IDRA stock. At midday, shares of IDRA stock had shot up by over 5.9%. This sizable gain is occurring on a day when the stock market is falling, making it even more exciting. In the past five day period, shares of IDRA stock have climbed by over 40%, which is no small feat. The main reason for this comes as the company made an exciting announcement on May 17th. On the 17th, it stated that it has shown positive interim results for its INTRIM 1, investigator-sponsored trial. With these results, the company states that it can stop the trial early.
“This is an exciting result from tilsotolimod, and we are pleased for the patients and their families to whom it offers hope for the future. These results, together with data supporting tilsotolimod’s mechanism of action and encouraging safety profile from across the array of earlier pre-clinical and clinical work, reinforce the potential of tilsotolimod to offer benefit to patients with certain cancers.”The CEO of Idera, Vincent Milano
Right now, there is a sizable amount of bullish momentum with biotech penny stocks. So, with this big news in mind, will IDRA be on your penny stocks watchlist or not?
Vinco Ventures Inc. (NASDAQ: BBIG)
Another large gainer at midday on May 18th is BBIG stock. At midday, shares of BBIG had climbed by more than 10.3% to over $3.16. And, in the past five days, we’ve seen BBIG stock climb by more than 32%, which is no small feat. During that time, we’ve covered BBIG stock numerous times. So, why is Vinco Ventures climbing right now?
Well, the main reason comes as today, shareholders of BBIG stock will receive one share of TYDE stock for every ten shares of BBIG held. This will be completed by May 27th, and has been the primary cause of momentum with BBIG stock recently. While BBIG itself has seen a relatively rough period in the past six months or so, this news is exciting for investors and is likely the reason for the bullish sentiment. So, whether BBIG stock is worth buying or not, is up to you.
Verb Technology Company Inc. (NASDAQ: VERB)
With over 13% in gains today, VERB stock has shot up by more than 28% in the past five days. This is an exciting sentiment following its six-month drop of more than 70%. The biggest recent news from the company came today when it announced that Miami Fitwear would begin hosting livestream shopping events on its MARKET Platform. This will start on June 2nd, and will offer eco-friendly clothing options.
“Miami Fitwear is an excellent addition to our roster of quality vendors on MARKET. I have worked with Raquel and Miami Fitwear for many years and know that MARKET will be a great fit for the apparel brand, as it not only highlights unique product designs but also offers a live conversational chat with viewers about product features and quality.”The SVP of Programming and Talent Acquisition at Verb, Kate Eckman
This is big news for the future of this product and the usability of it in general. And, while we don’t know the long term effects of this deal, it’s clear that it is an exciting announcement nonetheless. So, with this in mind, do you think VERB is worth adding to your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. But, just because penny stocks are popular, does not mean that they are worth buying.
Rather, investors need to have a complete understanding of why penny stocks are moving and how to take advantage. Considering all of this, which penny stocks are you watching right now?