Buying Penny Stocks on June 8th? Here’s What You Need to Know
After another day of gains, investors are excited about where penny stocks could go. While it is tough to say that bullish sentiment is back with certainty, we do know that recent trading patterns have been mostly positive. To understand how to profit off of this, investors need to have a consistent understanding of where to look. With this in mind, let’s take a look at what happened on June 7th, 2022.
Stock Market Recap, June 7th, 2022
During trading on June 7th, stocks gained for the second straight day. While the session itself was quite volatile, the S&P 500 and Dow Jones climbed by 1% and around 0.8% respectively. Although we have seen guidance from some major retailers drop slightly, the bulls in the market are taking charge with many penny stocks and blue chips at discount levels.
As stated before, it is nearly impossible to say that penny stocks are going to continue climbing. But to understand if they will in the short term, let’s take a look at what to know about trading today.
What to Know About Trading Penny Stocks Today
After a positive trading day, some are weary about where the future could go. As stated earlier, we have seen some turbulence following slashed sales guidances from major retailers. And as a result, it is tough to say if we will continue on this bullish trajectory in the near or distant future. So, the best course of action is to look at what is going on in the stock market and try and use that to your advantage.
3 Penny Stocks to Watch Today
Seres Therapeutics Inc. (NASDAQ: MCRB)
During trading and into after hours, shares of MCRB stock managed to shoot up by over 28% and 3.5% respectively. And in the past five days, MCRB stock has climbed by over 31%, which is no small feat.
The main news from the company comes as it announced confirmatory results from its ECOSPOR IV open label study. This concerns its study of SER-109, which is its main focus right now. So, with this exciting news in mind, do you think that MCRB stock is worth adding to your list of penny stocks to buy or not?
Invacare Corp. (NYSE: IVC)
Another gainer of the day is IVC stock which shot up by over 8% and 5% in trading and after hours trading respectively. And in the past five days, shares of IVC stock have climbed by over 45%, which is no small feat.
On June 7th, IVC announced that Matt Monaghan, the CEO of its company, will present at the 12th Annual East Coast IDEAS Investor Conference on Wednesday, June 22nd. While this alone is not a big deal, it is the next time that investors will hear from the company. Considering that, does IVC stock belong on your penny stocks watchlist?
Cyren Ltd. (NASDAQ: CYRN)
With over 6.5% in gains during trading, CYRN saw a major after hours gain. During after hours, CYRN stock pushed up by over 35%. This is a big climb for the company, and one that comes after CYRN stock has fallen by over 75% in the past six months.
The big news for the company comes as it announced a 10 million euro sale of its secure email gateway unit. This should add significant capitalization to Cyren and is a major positive for investors. And with this, the company states that it will focus on other strategic growth opportunities. With that in mind, does CYRN deserve a spot on your buy list or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, there are hundreds to choose from. But, with so many options, how do you know which stocks are worth your investment?
There are a few things to keep in mind when considering penny stocks. First, research the company and its financial stability. It’s important to look at the big picture and not just the stock price. Second, don’t invest more than you’re willing to lose.
Penny stocks are a high-risk investment, so it’s important to only invest what you can afford to lose. Finally, be patient. Don’t expect to get rich quick with penny stocks; it takes time to see results. If you’re ready to start investing in penny stocks, there is a lot to know. With that in mind, which penny stocks are you watching right now?