3 Penny Stocks to Add to Your Watchlist This Coming Week
With a new week of trading penny stocks here, there is a lot that investors need to know. Although trading penny stocks can be difficult and frustrating at times, there are ways to find success. For that reason, it is important to understand what goes in to being a top penny stocks trader.
First of all, always make sure to do your research on any company or stock that you are thinking about investing in. This is important because it will help you to know what you are getting yourself into, and whether or not the company is worth your time and money.
Secondly, always be patient when trading penny stocks. Oftentimes, it can take a lot of winning and losing to get to the point where you are consistent in profitability, but it will be worth it in the end. Finally, always have a plan and stick to it. This is important because it will help you to make consistent profits, and avoid making any rash decisions that could cost you money. With penny stocks, it is easy to let emotions get in the way.
But, with a strategy, it is much easier to be consistent. So, if you can follow these simple tips, then you will be well on your way to becoming a top penny stocks trader. With this in mind, let’s take a look at three that could be worth watching this week.
3 Penny Stocks to Watch This Week
TDH Holdings Inc. (NASDAQ: PETZ)
Recently, we have seen a sizable amount of bullish sentiment with PETZ stock. On June 9th, shares of PETZ managed to shoot up by over 28% before climbing by another 11% during after hours trading. While there is no news to back this gain, it’s clear that there is a lot of positivity behind PETZ stock right now.
So, what is the latest announcement to come from the company? Well, back in April, the company announced its full year 2021 financial results. In the results, it posted a respectable 33% increase in its revenue YoY. In addition, it did see its sales of pet food decrease by a little less than half. So, while none of this is particularly exciting, we do often see high speculation with PETZ stock. Considering that, does it deserve a spot on your penny stocks watchlist or not?
Ecmoho Ltd. (NASDAQ: MOHO)
Another recent mover is MOHO stock, which has seen around 6% in gains in the past few days. And in the past month, the company has seen its shares climb by more than 20%. This is exciting as over the last six months, MOHO stock has declined by more than 50%. So, this recent bullish sentiment is more than welcome. Similar to other penny stocks right now, we are not seeing any news to back this gain.
But, to have a better understanding of the company, we can take a closer look at what it does. Ecmoho is a health solutions provider in China. This includes the offering of tech for families and health-conscious customers alike to get access to high quality health supplements, nutritional products and more. Although it is tough to say if MOHO stock will continue climbing, its recent gain is exciting. With that in mind, will it be on your list of penny stocks to buy this coming week?
Trevena Inc. (NASDAQ: TRVN)
At around $0.43 per share, Trevena Inc. has seen over 20% in gains in the last five days and more than 45% in gains in the last month. These double digit climbs have helped to bring a renewed sense of popularity to the company.
The latest news from TRVN came when it announced its Q1 2022 financial results as well as a business update last month. Financially, the company ended the quarter with more than $40 million in financing with $15 million received in the first tranche. And, with some major updates for its pipeline of drugs, the company has a lot going for it right now. While it is impossible to say if TRVN stock is worth buying, it could be worth keeping a close eye on this week.
Which Penny Stocks Are You Watching Right Now?
While trading penny stocks is not easy, it can be rewarding if done correctly. Many people shy away from penny stocks because they are considered high risk and therefore, often avoided by more experienced investors.
[Read More] 3 Penny Stocks, Are They Worth Buying Right Now?
But, those with the right strategy and knowledge can make trading penny stocks a profitable endeavor. With all of this in mind, which penny stocks are you watching right now?