3 Hot Penny Stocks to Add to Your Watchlist in June
With a relatively flat trading day for penny stocks and blue chips, stocks were down slightly in early trading. The stock market has been on a bullish tear in the past few trading days, but it appears that the rally is extremely volatile.
For some context, penny stocks are stocks that trade for less than $5 per share. They are generally considered to be more volatile and risky than blue-chip stocks. So, to take advantage of this volatility, investors need to be extra careful when trading penny stocks. And, investors need to take a few things into consideration. The first is research, and the second is risk management.
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When it comes to stocks, there are a lot of things that can go wrong. So, it’s important to do your research before investing in any stock, penny or otherwise. Make sure you understand the company’s financials, and make sure you understand the risks involved. In addition, consider what is going on in the stock market and make sure to use that to your advantage. With all of this in mind, here are three penny stocks to add to your watchlist today.
3 Penny Stocks to Add to Your Watchlist Right Now
- Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)
- Energy Focus Inc. (NASDAQ: EFOI)
- vTv Therapeutics Inc. (NASDAQ: VTVT)
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)
One of the larger gainers of the day on June 1st is TNXP stock. By midday, shares of TNXP had shot up by over 34% to more than $3.28 per share. This is a substantial gain and adds to a five day uptick of more than 60%. So, why is TNXP stock climbing so much right now?
Well, to understand this, we have to take a closer look at the company and any recent announcements. The main reason for this gain today comes as the U.S. Patent and Trademark Office issued a patent to the company for its horse pox-based virus vaccine. It states that this could be put to use in fighting monkeypox and smallpox. And, the patent will offer the company exclusive use of it until 2037.
“This patent is an important milestone in protecting our expanding pipeline of vaccines that address known and potentially novel. pathogens TNX-801 is a horsepox-based live virus vaccine currently in development to protect against monkeypox and smallpox. TNX-18401 and TNX-18501 are designed to express the spike proteins from the SARS-CoV-2 omicron and BA.2 variants, respectively.”
The CEO of Tonix, Seth Lederman, M.D.
This is a major deal for the company and something that should continue to play out in the coming months. With that in mind, will TNXP be on your penny stocks watchlist or not?
Energy Focus Inc. (NASDAQ: EFOI)
Another major gainer on June 1st is EFOI stock, which exploded by over 65%. This is an incredible gain and one that adds over $0.60 in value to the company. In the past five days, we’ve seen shares of EFOI stock shoot up by more than 70%, which adds even more to the bullish case for EFOI right now.
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The biggest recent news from Energy Focus came this morning when it announced the showcase of its EnFocus Circadian Lighting, RedCap Emergency Lighting, and nUVo UVC Air Disinfection products at the LightFair 2022 convention.
“With an increased emphasis on our engineering and sales operations, we have built upon our established reputation in the market and are enthused about introducing strategic and innovative improvements to our product lines that we expect will be met with industry-wide adoption and customer satisfaction.”
The Senior VP of Product Management and Engineering for Energy Focus, Greg Galluccio
Right now, we’re seeing sizable bullish sentiment in the tech industry. And while it is tough to say that EFOI stock can continue to make these staggering gains, it is highly popular. This is the result of talks about EFOI stock online on platforms like Twitter and Reddit. So, does this make EFOI worth adding to your list of penny stocks to buy?
vTv Therapeutics Inc. (NASDAQ: VTVT)
VTVT stock is a penny stock that managed to shoot up by over 39% to more than $0.77 per share on June 1st. This big double-digit gain is the result of exciting news announced on June 1st. On the 1st, the company announced an investment by and entry into a collaboration and license agreement with G42 Investments AI Holding. This includes a $25 million investment into VTVT as well as collaborations on several clinical trials.
“We have focused substantial energy and resources on TTP399 since obtaining Breakthrough Therapy designation from the FDA in April 2021 and are thrilled to welcome a partner to work with us to accelerate the development and potential approval and commercialization of this treatment.
42 Healthcare brings a unique combination of strong commitment to the development of new impactful drugs and treatments, as demonstrated by their success and their leadership on COVID-19 testing and other product and service offerings in the healthcare spectrum.”
The Interim CEO of vTv, Rich Nelson
Whether this makes VTVT stock worth buying or not, is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, you should first have a thorough understanding of your own investing style. Because penny stocks move so frequently in value, it can be difficult to find the best ones that will be profitable.
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But, with the right trading strategy and a consistent understanding of how to trade, investors can have a much easier time understanding where potential value could be found. So, with all of this in mind, which penny stocks are you watching right now?
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