3 Penny Stocks to Add to Your Watchlist Right Now
Finding penny stocks to buy can be tricky. But if you have a solid strategy, you can find stocks that are poised for big gains. To find penny stocks to buy, you need to look for companies with strong fundamentals. But you also need to be aware of the potential risks. The biggest risk is of course, that you’ll lose your entire investment.
[Read More] Hot Penny Stocks Under $1 To Watch In June
However, if you do your homework and choose stocks wisely, you can make a lot of money in the stock market. When it comes to finding penny stocks to buy, the most important thing is to do your homework. There are options to choose from, but you need to be sure to not get caught in the hype. This can happen easily since penny stocks are often pushed up by those looking to make a quick buck.
But if you can find stocks that have strong fundamentals, you can make a lot of money in the long run. Another thing to keep in mind is that penny stocks are often very volatile. This means that they can go up or down very quickly. So, you need to be prepared for the possibility of losing money. But if you have a solid strategy, making money can be much more accomplishable. With all of this in mind, let’s take a look at three penny stocks that are climbing right now.
3 Penny Stocks to Watch in Early June 2022
- DiDi Global Inc. (NYSE: DIDI)
- Blacksky Technology Inc. (NYSE: BKSY)
- Core Scientific Inc. (NASDAQ: CORZ)
DiDi Global Inc. (NYSE: DIDI)
One of the larger gainers of the day on June 2nd is DIDI stock. At EOD, shares of DIDI stock had shot up by over 5% during trading and after hours. This is a major gain for the company and is a big positive for investors as well.
[Read More] Good Penny Stocks to Buy Now? 3 to Watch in June
Although it is hard to say why shares of DIDI stock are climbing right now, there are a few reasons to look at. One of the main reasons comes as China announced reopening following major Covid restrictions. And as a result of this, we saw many Chinese penny stocks climb during trading today. While this is a highly speculative gain, it is exciting nonetheless.
And as a result, it makes DIDI an interesting penny stock to watch right now. While this may not be a reason to buy shares of DIDI stock, it is an interesting prospect to consider. And, the other news from DIDI comes as a Chinese auto giant announced it may take a stake in the company. All of this has helped to give DIDI stock more credibility in the past few weeks despite a cybersecurity probe into it. With this in mind, will DIDI make your list of penny stocks to buy?
Blacksky Technology Inc. (NYSE: BKSY)
Another decent gainer with high volume is BKSY stock. During trading and after-hours, shares of BKSY stock climbed by over 1.7% and 1.4% respectively. And, in the past five days, shares of BKSY stock have pushed up by more than 22.7% and more than 78% in the past month. The big news from Blacksky comes as the company announced that it landed an intelligence contract worth $1 billion over the next ten years. Initially, the contract will be worth $85 million with options to admire as expansions occur in the coming years.
“This contract is a pivotal moment in the expansion of the partnership between commercial space and the U.S. government. We’re proud to be selected as a long-term trusted mission partner of the NRO.”The CEO of Blacksky, Brian O’Toole
Right now, there is a lot of momentum with penny stocks in the tech industry. And although it is hard to say whether or not this will continue, it’s clear that BKSY is worth keeping an eye on. Whether BKSY is a buy or not however, remains up to you.
Core Scientific Inc. (NASDAQ: CORZ)
With a few percent in gains, CORZ is another biotech penny stock that is climbing right now. And in the past five days, we’ve seen over 45% in losses for CORZ stock. The most recent announcement from the company came on May 12th when it announced its Q1 2022 financial results.
In the results, the company announced that its total revenue increased by over 255% to more than $192 million. Additionally, the company stated that its gross profit shot up by over 380% with an adjusted EBITDA increase of 644% to $93 million.
“By continuing to focus on execution, we delivered first quarter revenue of $193 million, an increase of more than 250 percent over the prior year period. In the quarter we expanded our total hashrate to 16.2 exahash, self-mined 3,202 bitcoins and maintained our leadership position in the North American blockchain data center and digital asset mining category.”The CEO of Core Scientific, Mike Levitt
With CORZ, the company is involved in the cryptocurrency industry. This means that it is likely to see high rates of volatility. While it is tough to say if CORZ is worth buying or not, it’s clear that its an interesting company to keep an eye on.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy can be tricky with so many stocks out there. So, always make sure to do your research and understand exactly what you’re getting into. With that, it will be much easier to buy and sell penny stocks in 2022. Considering that, which penny stocks are you watching right now?