3 Penny Stocks to Add to Your Watchlist Right Now
With a mostly bullish day of trading for penny stocks and blue chips right now, investors are excited about the near future. Recently, we’ve seen a much higher rate of bullish movement in the stock market.
This is due to a turnaround from the recent bear market with investors looking to take advantage of the bull market. One thing to keep in mind is that regardless of the direction of the market, volatility is at a very high rate. This means that investors need to stay on their toes no matter which penny stocks they are buying.
So, if you can do the proper research and understand exactly what is going on in the stock market, it can be much easier to avoid losing money. And, always make sure you have a well-thought-out and consistent trading strategy on hand. Considering this, here are three penny stocks to add to your watchlist right now.
3 Hot Penny Stocks to Watch in Mid-June
Transocean Ltd. (NYSE: RIG)
One of the larger gainers of the day on June 7th is RIG stock. At midday, shares of RIG managed to shoot up by over 12.9%. This is a sizable gain for the company and comes after a one month and six month uptick of 35% and 55% respectively.
So, why the sudden boost in value for Transocean? Well, only a day ago the company announced a $181 million contract extension for its harsh environment semisubmersible. This is a major deal for the company and concerns its Transocean Spitsbergen ship. The ship will be committed for offshore work in Norway, and should begin as soon as October 2023.
For some context, Transocean is a provider of offshore drilling services for oil and gas wells. As of the latest report, the company has 37 mobile offshore drilling units. This consists of 27 ultra-deepwater floaters and 10 harsh environment floaters. So, with all of this exciting news in mind, will RIG be on your list of penny stocks to watch?
Janone Inc. (NASDAQ: JAN)
With over 65% in gains at midday, JAN stock is a major gainer on June 7th. This sizable uptick brings Janone Inc. shares to over $4.23, which represents its one month gain of more than 100%.
So, why is JAN stock seeing so much bullish sentiment? Well, the big news for the company came today when it announced the issuance of a U.S. patent for a method of improving nerve function utilizing its JAN101 compound. The company states that this could be used in the treatment of peripheral artery disease or PAD.
“This patent further protects JanOne Inc.’s product for use in treating PAD by extending the use of JAN101 to treat the nerve damage caused by microvascular disease. Microvascular disease is a major problem for PAD patients: it leads to restricted blood flow in the affected limb, which in turn leads to nerve damage and severe pain.”The Chief Scientific Officer of Janone Inc., Dr. Tony Giordano
This is a big deal for the company and something that is exciting for investors right now. And, it helps to explain exactly why shares of JAN stock are seeing such large bullish sentiment right now. With this considered, will it be on your penny stocks watchlist or not?
Accelerate Diagnostics Inc. (NASDAQ: AXDX)
Adding to the list of sizable gainers on June 7th, we see AXDX stock with over 44% in gains. And in the past five day period, shares of AXDX stock have shot up by over 65%. While we have seen around 79% in losses in the last six months, this recent bullish turnaround is an exciting sentiment for investors to consider. So for that reason, let’s take a look at why shares of AXDX stock are pushing up right now. The most recent news from the company came on May 16th when it announced its Q1 2022 financial results.
In the results, the company announced a 20% increase in net sales, due to a 29% increase in recurring revenue. Additionally, it posted lower R&D expenses of $6 million compared to $6.9 million in the same quarter of the previous year. This is exciting, however, it does not explain why shares of AXDX stock are exploding right now. So, the most logical reasons could be due to several factors.
On one hand, it’s likely that AXDX stock is trending online on places like Twitter and Reddit. And on the other hand, we have seen a large amount of bullish sentiment in the biotech industry recently. So, while these do not make it easy to identify why AXDX stock is pushing up right now, they can help investors to understand it further. Considering this, does it deserve a spot on your list of penny stocks to buy?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2022 is challenging. But, with so many different small-caps to choose from, it can be much easier than previously imagined.
Right now, investing in penny stocks or blue chips is all about understanding what is going on in the stock market. And while it can be complicated to do so, research will always be your best friend. So, with all of this in mind, which penny stocks are you watching right now?