3 Trending Penny Stocks to Add to Your June Watchlist
With so much going on in the stock market, finding the best penny stocks to buy can be tricky. And, this may be a difficult prospect for some, it can also present sizable opportunities for others. When it comes to finding success with penny stocks, you’ll need to be very careful and do your research. It’s clear that penny stocks can be a great way to make money, but they’re also very risky.
When you’re looking for penny stocks to buy, there are a few things you should keep in mind. First, don’t just buy penny stocks because they are popular or because you’ve heard good things about them. It’s important to do your own research and figure out which penny stocks are actually worth investing in.
While hype is a big part of what makes penny stocks move, it should never be the only factor in your decision. The next aspect to understand is what is going on in the stock market. Because penny stocks are so speculative, they are often very sensitive to changes in the market. When the stock market is going up, penny stocks tend to do well.
But, when the market is going down, penny stocks can lose a lot of value very quickly. And going beyond this, we see specific factors impact penny stocks rapidly. This is why it’s important to pay attention to what’s happening in the stock market before you start buying. With all of this in mind, let’s take a look at three penny stocks that are trending right now.
3 Penny Stocks That Are Trending Right Now
- Boqii Holding Ltd. (NYSE: BQ)
- Evolve Transition Infrastructure (NYSE: SNMP)
- Allena Pharmaceuticals Inc. (NASDAQ: ALNA)
Boqii Holdings Ltd. (NYSE: BQ)
One of the larger gainers of the day on June 3rd is BQ stock. At EOD, shares of BQ stock had climbed by more than 14%, which is quite substantial. And in the past five days, shares of BQ stock have pushed up by more than 28%. The most recent announcement from the company came on May 31st when it announced the increase of its ESOP pool. Now, the company will have 4 million more Class A ordinary shares.
While there is some dilutive issues to consider, this is an exciting announcement. If you’re not familiar with BQ, it is a pet-focused platform based in China. And, it offers its products via e-commerce and, it sells a variety of products including its own brands. Those brands are Yoken, Mocare, and more. So, while BQ stock is highly volatile, the company has made some big strides in the past few trading days. With this in mind, will it be on your list of penny stocks to watch or not?
Evolve Transition Infrastructure (NYSE: SNMP)
With over 6% in gains during trading on June 3rd, SNMP is another penny stock that investors are watching right now. And despite a six month drop of over 20%, it’s clear that there is some bullish sentiment with Evolve Transition right now. So, why are we seeing shares of the company climb in June? Well, one possible theory is due to its popularity online. This includes places like Twitter and Reddit, which have become major hotspots for discussions regarding penny stocks.
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To understand this further, we can look at the most recent announcements from the company. On March 31st, it announced the filing of its Form 10-K for the year ended on December 31st. And since then, not much has come out of the company. If you’re not familiar, Evolve is a limited partnership focused on acquiring and developing energy. This includes natural gas gathering systems, pipelines, and processing facilities which are based in Southern Texas. So, while it is tough to say why shares of SNMP stock are climbing, it could be worth adding to your penny stocks watchlist.
Allena Pharmaceuticals Inc. (NASDAQ: ALNA)
Despite a 10% drop during trading on June 3rd, shares of ALNA stock managed to push up by almost 2% in after hours trading. And prior to today’s drop, ALNA had seen some sizable gains in the past week or so. This is due to the major emphasis on the biotech industry that we’ve seen over that time. So, is ALNA stock worth buying or not? Let’s take a closer look.
The most recent announcement from Allena came last month when it announced a $2.8 million registered direct offering. This move makes sense as it should offer better capitalization to the company in support of its future endeavors. Now, while ALNA stock is highly volatile, the company has seen some bullish sentiment recently. As a biotech company focused on the production of biologics, it could be worth keeping an eye on in the coming weeks. Considering this, will it be on your buy list or not?
Which Penny Stocks Are On Your June Watchlist?
Finding the best penny stocks to buy in June can be tricky. But, with so many different penny stocks to choose from, it all comes down to research and understanding what is going on in the stock market.
In 2022, there are several factors that investors have to consider simultaneously. And, this includes those such as inflation, rising interest rates and more. With all of this in mind, which penny stocks are on your June watchlist?