3 Penny Stocks to Watch in Mid-June 2022
Finding the best penny stocks to buy can be challenging. However, with the right tools and understanding of the stock market, making money with penny stocks can be much easier than previously imagined. For some context, penny stocks are stocks that trade for less than $5 per share. They are also referred to as small-cap stocks, which means they have a smaller market capitalization than large-cap stocks.
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While penny stocks may have a large amount of volatility, these large fluctuations are the reason that so many investors choose from. To take advantage of these movements, it is essential to have a well-thought-out trading strategy. In addition, having a trading platform that provides real-time data and analytics is critical for success.
When it comes to the best penny stocks to buy, there are a few key things to look for. But, with all of these things to consider, investors can have a much easier time making money with penny stocks. And with so much movement in the stock market, losing money is possible as well. So, being well-informed and having a solid trading strategy is key to success. With all of this in mind, let’s take look at three penny stocks to watch in mid-June.
3 Penny Stocks to Add to Your Mid-June Watchlist
- Imperial Petroleum Inc. (NASDAQ: IMPP)
- OneConnect Financial Tech Co. Ltd. (NYSE: OCFT)
- Alaunos Therapeutics Inc. (NASDAQ: TCRT)
Imperial Petroleum Inc. (NASDAQ: IMPP)
One of the largest gainers of the day is IMPP stock. At EOD and during after hours, shares of IMPP stock pushed up by over 27% and 8% respectively. In the past five days, IMPP stock has climbed by more than 55%, which is no small feat. This is also the reason that we have covered Imperial Petroleum Inc. The most recent news from the company came on May 27th when it announced an agreement to acquire two suezmax tankers.
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In the deal, the company paid $46.8 million, and they will be delivered by mid-June of this year. If you’re not familiar, Imperial Petroleum is a ship owning company that provides petroleum product transport services. With these ships, the company should have quite a large carrying capacity moving forward. In addition, it should have a total of 682,000 dwt capacity. So, with all of this in mind, do you think IMPP deserves a spot on your penny stocks watchlist?
OneConnect Financial Tech Co. Ltd. (NYSE: OCFT)
At EOD on June 8th, shares of OCFT stock managed to shoot up by over 20%. This is a huge gain for the company and one that reflects an exciting announcement made during trading today. On June 8th, it announced an upsizing of its share repurchase program. It stated that it will upsize this via a share repurchase program for open market transactions at market prices.
“The upsize of the share repurchase program demonstrates our continued confidence in our long-term business growth and belief that our ADSs are currently undervalued in the marketplace. We are committed to creating shareholder value, and believe that our business strategy and execution ability will continue to drive the long-term growth of the company.”
The Chairman of the Board of Directors of OneConnect, Wangchun Ye
OneConnect is a tech penny stock that offers solutions for financial institutions. This includes digital retail banking, commercial banking solutions, tech infrastructure and much more. While it is highly volatile, it’s recent bullish trading action is exciting. Considering this, will it be on your list of penny stocks to buy?
Alaunos Therapeutics Inc. (NASDAQ: TCRT)
Another sizable gainer of the day on June 8th is TCRT stock. At EOD, shares of TCRT managed to shoot up by over 11.5%, bringing it to over $0.75 per share. While there is no news that is causing this uptick, we have seen a lot of bullish sentiment in the biotech sector in the past few days. Besides this, we can look at some recent announcements from the company. On May 26th, the company announced that it would be presenting its trials via a progress poster at the 2022 American Society of Clinical Oncology Annual Meeting.
“Leveraging our proprietary non-viral Sleeping Beauty technology and our growing TCR-T library, we are a leader in the field of TCR-T cell therapies targeting solid tumors. Our approach attacking shared hotspot mutations that drive cancer has the potential to kill tumors.”
Kevin S. Boyle, Sr.
For some context, Alaunos Therapeutics is a clinical-stage oncology-focused company working on a variety of cell-therapies. While TCRT is highly volatile, does it deserve a spot on your penny stocks watchlist or not?
Which Penny Stocks Are You Watching Right Now
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, understanding where to look and what your investing style is, are both crucial in making money with small-caps. So, understand exactly what is going on in the stock market and make sure that it will work in your favor.
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Right now, we have a large amount of movement that can be difficult to use to your benefit. But, keeping up to date and looking at the latest announcements can help you to profit. With this in mind, which penny stocks are you watching right now?
