3 Penny Stocks to Add to Your June 2022 Watchlist
With the stock market mostly flat today, there is a lot for penny stocks traders to take advantage of. Although last week ended on a major high note, we are once again seeing volatility in the stock market.
The main instigators of movement in the stock market right now are rising inflation, and talks between President Biden and Fed Chair Jerome Powell. While this did not result in a major drop like we’ve seen in the past few months, it did push the market down slightly after open.
Despite this, penny stocks and blue chips have begun to creep up throughout the trading day. Although there is such a high rate of volatility in the stock market right now, investors can take advantage. This involves knowing what is going on and how to use these factors to profit. Considering this, let’s take a look at three penny stocks to watch in June 2022.
3 Penny Stocks to Watch in June 2022
- Gritstone Bio Inc. (NASDAQ: GRTS)
- OpGen Inc. (NASDAQ: OPGN)
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
Gritstone Bio Inc. (NASDAQ: GRTS)
One of the larger gainers of the day so far is GRTS stock. At midday, shares of GRTS stock had shot up by over 13%. This is a sizable uptick and one that shows both the company and the strength of the biotech industry right now. While YTD, shares of GRTS stock have fallen by over 80%, it’s clear that there is some bullish sentiment with the company right now.
Although we do see big gains like this without company news, Gritstone Bio made an exciting announcement during morning trading today. It stated that it has updated overall survival results concerning its Phase 1/2 Study of GRANITE. It will offer a trial in progress poster at ASCO, which will show the steps that the company is taking to move forward with this.
“The updated OS data from our Phase 1/2 study continue to demonstrate a correlation between molecular response and overall survival, and points to the potentially significant impact GRANITE is having on lives of patients with advanced stage cancer…
These maturing data, demonstrating long-term clinical benefit, further support moving GRANITE upstream in the treatment of patients with this grim cancer in the ongoing randomized Phase 2/3 study, which has registrational intent.”The Co-Founder, President, and CEO of Gritstone, Andrew Allen, M.D., Ph.D.
This is great news for the company and investors alike and should help when deciding whether GRTS belongs on your list of penny stocks to buy or not.
OpGen Inc. (NASDAQ: OPGN)
Another penny stock that made big gains during trading on May 31st is OPGN stock. During trading, shares of OPGN climbed by a very respectable, 21%. This brings it to just under $0.70 per share, which is no small feat.
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And if that isn’t enough, in the past five days, shares of OPGN stock have climbed by more than 73%. The biggest recent news for the company came on May 26th when it announced the publication of results from a major clinical study of Unyvero. The company stated that the use of this compound reduced the use of inappropriate antibiotic therapy by almost 50%.
“Pneumonia caused by Gram-negative bacteria is often associated with poor diagnosis and a high mortality rate. This multicenter, randomized, interventional study demonstrates the importance of rapid and accurate molecular diagnostics and the significant and actionable impact of the Unyvero hospitalized pneumonia panel on timely initiation of antibiotic therapy in patients with pneumonia.”The Chief Marketing and Scientific Affairs Officer at OpGen, Frank Atrzadeh
It is clear that the announcement of this study is why shares of OPGN stock are climbing right now. With that in mind, does it deserve a spot on your penny stocks watchlist today?
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
On May 31st, shares of KAVL stock managed to push up by over 14%. This is a big gain for the company, and one that adds to its five day uptick of over 35%. While we have seen KAVL stock reach over $3 per share in the past few months, at $1.30, the company is working hard to grow.
While there is no company-specific news for KAVL, it is a popular gainer when other consumer discretionary product based stocks push up. To understand this further, we can take a closer look at the company. For those unfamiliar, Kaival Brands is a company that invests in a range of consumer products. This includes those in the disposable vaporizer industry, with its main brand, BIDI Vapor.
BIDI Vapor is the producer of the BIDI Stick, which is a popular choice for those who vape nicotine. Due to the rising number of vaporizer users in the past few years, KAVL has seen continued popularity with its products. And although it is highly volatile, the company remains a mainstay as a trending penny stock. Considering this, is it worth buying or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. Because of the vast number of penny stocks out there, investors need to make sure to do the proper dye diligence involved.
This means researching what is going on in the stock market and how to take advantage. Although it can seem difficult, investing in penny stocks is all about considering how to use what is going on in the world as a benefit. With this in mind, which penny stocks are you watching right now?