3 Hot Penny Stocks to Watch in Mid-June 2022
With so much going on in the stock market right now, finding penny stocks to buy can be difficult. But if you know where to look and what to look for, you can find some high-quality penny stocks that are worth your investment. For that reason, let’s take a look at a few tips that investors should use when considering trading penny stocks.
For one, always make sure to do your research. This means reading up on the company, its financial history, and any news that might be affecting the stock. Remember, just because a stock is cheap doesn’t mean it’s a good investment. Rather, you need to make sure you know what you’re buying before you invest any money.
The next step is having a trading strategy. This is crucial as buying and selling penny stocks greatly depends on your individual investing style. While this often gets overlooked, it’s important to remember that penny stocks are just like any other stocks – but they can go up or down in value more rapidly than blue chips. For that reason, you need to be prepared for both eventualities.
At the end of the day, buying and selling penny stocks is all about knowing what type of trader you are and using that to your advantage. So, with all of this in mind, let’s take a look at three hot penny stocks to watch right now.
3 Hot Penny Stocks to Add to Your Watchlist Right Now
Ibio Inc. (NYSE: IBIO)
One of the larger gainers of the day on June 9th is IBIO stock. At EOD, shares of IBIO had shot up by over 8%. And during after hours trading, we saw shares of IBIO stock climb by another 2.5%. So, why is IBIO stock climbing right now?
Well, it is tough to say as the company has not released any news today or in the past few weeks. The latest came from the company when it presented at the HC Wainwright Global Investment Conference at the end of May. But since then, it has been mostly quiet. Prior to this, it did release its Q3 2022 financial results as well as a corporate update.
“In this quarter, we took multiple steps forward towards becoming a clinical-stage company – a potentially major value inflection point.
We anticipate there may be a notable medical and business opportunity for our nucleocapsid-based COVID-19 vaccine candidate, as the durability and efficacy of the existing spike-based vaccines are called into question at the same time as new waves of variants are forecasted to arrive.”Tom Isett, the Chairman and CEO of Ibio
So, with all of this in mind, do you think that IBIO stock is worth adding to your list of penny stocks to watch or not?
Sos Ltd. (NYSE: SOS)
Another decent gainer on June 9th is SOS stock. At EOD, shares of SOS stock had shot up by more than 5.9% with a 2% after-hours gain respectively. And, this comes after a six month drop of more than 60%, which is quite substantial.
[Read More] 3 Penny Stocks, Are They Worth Buying Right Now?
So, why the big gain for SOS stock right now? Well, the latest news from the company came a few weeks ago when it announced the launch of a Super-Computer and Hosting Center in Wisconsin. The company has already signed several agreements for this facility, and it will manage over 21,000 mining rigs.
“This launch marks the step-by-step implementation of the company’s plan. We will launch more mining rigs as we sign additional contracts with third parties. We will continue to invest in more high level rigs for our own mining use and increase the manpower to support local operations. This will add more jobs and support the local economy.”The CEO and Chairman of SOS, Mr. Yandai Wang
While SOS stock is highly volatile, its recent gains are worth considering. Whether this makes it worth adding to your penny stocks watchlist however, is up to you.
Sonnet Biotherapeutics Holdings Inc. (NASDAQ: SONN)
One of the largest gainers on Thursday, June 9th was SONN stock. At EOD, shares of SONN had exploded by more than 23% to over $0.30. Recently, we have seen major bullish sentiment with biotech stocks. And, while this is likely a part of why SONN is climbing right now, it is not the full story. Rather, the company announced during early morning trading, that it has positive results from the preclinical trial of SON-1010.
“We are excited to see that the combination of SON-1010 with an anti-PD1 antibody yielded compelling data in this preclinical model. These data support our strategy of pairing SON-1010 with a checkpoint inhibitor, with the goal of developing an improved treatment option for cancer patients.”The CEO and Founder of Sonnet BioTherapeutics, Pankaj Mohan, PhD.
While this exciting news alone is not a reason to buy Sonnet stock, it could be an interesting piece of information to consider.
Which Penny Stocks Are You Watching in June?
If you’re looking for penny stocks to buy right now, it can be tricky. But, with the right research and a solid plan, you can find stocks that fit your investment goals. Now, understanding what is going on in the stock market is critical to making informed investment decisions.
So, always be sure to have a firm idea before investing in penny stocks. While it is not easy to find stocks that could make you money, it is possible to find stocks that are worth your investment. With this in mind, which penny stocks are you watching in June 2022?