3 Penny Stocks to Watch in June 2022
With the stock market up today, those investing in penny stocks are excited for what the future may bring. Now, with penny stocks, it is crucial to remember that risk will always be inherently high. This is due to the fact that penny stocks are under $5 per share, and therefore they are likely to move in price substantially.
However, for those who are willing to take on the risk, penny stocks can offer a high return on investment. So, if you’re thinking about investing in penny stocks, be sure to do your research first and always remember to tread carefully. In addition, investors need to have a well-thought-out trading strategy in place in order to be successful with penny stocks. While there is some bullish sentiment in the stock market right now, it’s important to remember that things can always change quickly.
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So, be sure to stay up-to-date on the latest news and information in order to make the best possible decisions for your investments. Also, make sure to consider whether you’re more interested in investing in the short or long term. Penny stocks can be a great way to make money in the short term, but they may also be more volatile.
If you’re looking to invest for the long term, you may want to consider stocks that are a bit more stable. Ultimately, it’s important to find stocks that fit your own personal investing style and risk tolerance. So, with this in mind, here are three penny stocks that could be worth watching.
3 Penny Stocks to Add to Your June 2022 Watchlist
- Regulus Therapeutics Inc. (NASDAQ: RGLS)
- Ontrak Inc. (NASDAQ: OTRK)
- Tenon Medical Inc. (NASDAQ: TNON)
Regulus Therapeutics Inc. (NASDAQ: RGLS)
One of the bigger gainers of the day on May 27th is RGLS stock. At EOD, shares of RGLS managed to shoot up by over 12.5%. And in the past five days shares of RGLS have climbed by over 24% and more than 47% in the past month.
During that time, we’ve covered RGLS on numerous occasions. To understand why shares of RGLS stock are moving, we have to take a closer look at the company. The most recent update from Regulus came on May 12th when it reported its Q1 2022 financial results as well as some updates. In the results, it announced the FDA acceptance of its IND application for RGLS8429.
“The year is off to a great start as we continue to advance our pipeline, including the recent acceptance of our IND application for RGLS8429. We are thrilled to begin clinical development where we will investigate the safety, tolerability, pharmacokinetics, and preliminary efficacy of RGLS8429 for the treatment of ADPKD.”
The CEO of Regulus, Jay Hagan
Right now, we continue to see a sizable amount of bullish attention on biotech stocks as a whole. And because of that, RGLS could be worth adding to your list of penny stocks to watch.
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Ontrak Inc. (NASDAQ: OTRK)
During trading on May 27th, shares of OTRK stock managed to shoot up by over 20.6%. This sizable gain gives it a one month uptick of more than 50%, which is no small feat. While we do see large gains like this with penny stocks, it is crucial to understand why it occurred.
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For that reason, we have to take a closer look at the company and any recent announcements from it. While it is tough to say why shares are climbing right now, the company did release its 2022 financial results from its first quarter a few weeks ago. In the report, it announced revenue of $5.3 million as well as the execution of a note purchase agreement with Acuity’s Capital for $25 million in borrowings.
“We are pleased to share continuing progress in our sales pipeline as we work to return the company to a growth trajectory. We believe the key to this encouraging momentum and our future success lies in the advances we’ve made to our clinical model and the technology underpinning it.”
The CEO of Ontrak, Jonathan Mayhew
While it is hard to say why we are seeing big gains with this company right now, it is clear that there is a sizable amount of bullish attention being paid to it. For that reason, do you think OTRK is worth adding to your penny stocks watchlist or not?
Tenon Medical Inc. (NASDAQ: TNON)
With over 16% in gains by EOD, TNON is a penny stock that investors are keeping a close eye on right now. While shares of TNON stock have seen some major bearish performance in the past few days, its recent positive momentum is something to keep an eye on.
And, with its average volume at around 495,000, its volume on May 27th of over 1.7 million, is encouraging. Today’s move for TNON shows both the bullishness on the biotech industry and just how volatile biotech penny stocks can be. Because there is no company-specific news, it is tough to assume what the reason is behind this bullish uptick. So, whether TNON stock is worth buying or not is up to you.
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Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, it can be difficult to know where to start. But, with the right research on hand, you can make informed decisions and pick stocks that have the potential to succeed.
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And, with so much volatility in the stock market, penny stocks can offer investors the opportunity to make quick and profitable investments. But, make sure that the penny stocks you’re watching, align with your investment goals, and that you understand the risks involved. With this in mind, which penny stocks are you watching right now?
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