3 Hot Penny Stocks to Add to Your Watchlist Right Now
If you’re trading penny stocks right now, you’re likely aware of the high volatility in the stock market. And today, we saw this volatility bear its ugly face with the Dow falling 300 points alongside a 2% drop for the NASDAQ. Now, with a stronger-than-expected jobs reports, there are some reasons why we are seeing these steep market falls right now.
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One main aspect comes as the Fed could soon begin implementing higher rates. This is a fear that has sparked major bearish sentiment in the stock market over the past few months. And while it is tough to say when this will happen with certainty, we do know that it is on the horizon. The reason behind this comes as inflation is at a tipping point and is only continuing to rise. So, when it comes to penny stocks, how can we make money in 2022?
Well, there are a few things for all investors to know. First, these large market fluctuations can be taken advantage of with the right trading strategy. And two, we are very likely to continue seeing high volatility. So, with all of this in mind, let’s take a look at three hot penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your June Watchlist
- Imperial Petroleum Inc. (NASDAQ: IMPP)
- Yatsen Holding Ltd. (NYSE: YSG)
- Houston American Energy Corp. (NYSE: HUSA)
Imperial Petroleum Inc. (NASDAQ: IMPP)
One of the larger gainers of the day on June 3rd is IMPP stock. During trading, shares of IMPP managed to shoot up by over 2.8%. While this may not seem like much, it is complemented by a 29% five day gain. So, why are shares of IMPP stock climbing right now?
The main reason for this comes as the company recently announced that it entered into an agreement to acquire two suezmax tankers. This deal worth $46.8 million, will see the ships being delivered by mid-June. The announcement of this deal is the most recent update from Imperial Petroleum. And while this is likely driving its longer term price movement, today, we can look at some industry wide factors. Right now, we are seeing major positivity with energy stocks.
This is the result of high prices for oil due to the ongoing conflict in Ukraine. So, while it is tough to say how long this will last, we do know that for right now, there is a lot of bullish sentiment in the energy sector. Considering all of this, do you think that IMPP is worth adding to your list of penny stocks to buy or not?
Yatsen Holding Ltd. (NYSE: YSG)
Another decent gainer of the day on June 3rd is YSG stock. At EOD, shares of YSG had shot up by more than 10.5%, which is no small feat. And in the past five days, we’ve seen more than 20% in gains with YSG stock. While we do see many large upticks without any news to back it, YSG did make an exciting announcement during trading on June 2nd. The company posted its inaugural ESG report. In the report, the company states that it aims to be a more sustainable and environmentally friendly business.
If you’re not familiar, Yatsen is a large player in the Chinese beauty market. It has several large brands including Perfect Diary, Little Ondine, and much more. With these, it offers products on e-commerce platforms, social platforms, and much more. While YSG has shown a sizable amount of volatility, the company does have a lot going for it. With this in mind, will it be on your penny stocks watchlist or not?
Houston American Energy Corp. (NYSE: HUSA)
Another energy penny stock that is skyrocketing today is HUSA stock. At EOD, shares of HUSA had shot up by over 24%, taking it out of penny stocks territory. HUSA stock sits at around $5.50 after adding more than $1 in value during trading on June 3rd.
So, why the major uptick for HUSA stock? The main news from the company came as it announced a few days ago that it raised its stake in Hupecol Meta. This has led to a five day uptick of more than 70%, which is no small feat. For some added context, Hupecol Meta is a Colombian based company that owns roughly 640,000 gross acres of CPO in the Llanos Basin.
And with rising gas prices around the world, this added production amount could be a big game changer for Houston American Energy. As mentioned previously, over the past few months, we’ve seen sizable upticks in the gas industry. With lower production due to sanctions on Russian oil, investors have turned to alternate energy stocks to benefit. So, while HUSA is moving up and down quite frequently, its recent bullish momentum is worth considering. With that in mind, will it make your buy list?
Which Penny Stocks Are You Watching Today?
Finding the best penny stocks to buy in 2022 can be challenging. However, with so many different companies to choose from, it can be much easier than previously imagined.
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If we consider what is going on in the stock market and how to take advantage, we begin to see that there are plenty of opportunities to make money with penny stocks right now. So with this in mind, which penny stocks are you watching today?