Top Penny Stocks to Watch As the Market Crashes Again
With another major market crash on June 13th, which penny stocks are investors watching right now? Well, it is tough to say as there is so much movement in the stock market right now. But, to understand this, all we have to do is look at why the market is crashing right now.
For starters, we see that the fear of rising interest rates is causing major bearish sentiment. With inflation rising to highs not seen in years, the Fed is working quickly to combat it. So as investors, it is our job to make sure that we take advantage of these moves no matter what direction the market is going. Considering that, let’s take a look at three hot penny stocks to watch right now.
3 Penny Stocks to Add to Your Watchlist Right Now
Gingko Bioworks Holdings Inc. (NYSE: DNA)
While shares of DNA stock fell by around 15% today, we did see a 3.3% rise during after hours. And, in the past five days, shares of DNA stock have fallen by around 30%. Despite this, we are seeing small glimpses of bullish sentiment on occasion which means that DNA could be worth taking a closer look at right now.
The most recent news from the company came on June 10th when it announced its party-cation in the Goldman Sachs 43rd Annual Global Healthcare Conference. This conference will take place on June 15th 2022 and will be the next time we see what Gingko is up to. Besides this, not much news has come out of the company recently. A few days before this, the company did announce that it is partnering with Novo Nordisk to build expression systems for pharmaceutical products.
“It’s an honor to work with partners like Novo Nordisk that not only have an incredible range of critically important products, but that also provide us with the opportunity to do meaningful work that could help so many patients. At Ginkgo, we are always on the lookout for projects that will have an outsized impact on people’s lives and well-being.”The CEO and CoFounder of Gingko Bioworks, Jason Kelly
With this in mind, do you think DNA stock is worth buying or not?
Applied UV Inc. (NASDAQ: AUVI)
Another penny stock that gained during after hours trading on June 13th is AUVI stock. In after hours, shares of AUVI stock managed to shoot up by over 5.5% following a 2.5% drop. The main reason for this comes as shares of the company have seen some major volatility recently.
So, to understand this better, let’s take a closer look at what it does. Applied UV is a tech penny stock that focuses on acquiring and developing new technologies. These technologies are used in a variety of industries including healthcare, hospitality, and much more.
And, with its two wholly owned subsidiaries, SteriLumen and Munn Works, the company has a large amount of exposure to many budding industries right now. And with its UVC LED Lumicide platform, it is also showing promise as a player in fighting the pandemic. While it has seen a large number of ups and downs as of late, AUVI stock remains an interesting tech penny stock. So, whether it is worth adding to your list of penny stocks to or not, is up to you.
Sos Ltd. (NYSE: SOS)
SOS is a penny stock that we have discussed numerous times in the past few months. And today, we saw shares gain by around 2.98% during after hours following a 16% drop during the trading day. So, is today’s after hours move a play for the company’s future, or is it just a speculative uptick? To find out, we have to examine Sos Ltd. in greater detail. Recently, we have seen a sizable amount of bullish sentiment with SOS stock. But, in the last day or two, this has shifted with prices of SOS dropping significantly.
One of the reasons for this comes as SOS has a major amount of exposure to the cryptocurrency industry. And with the price of bitcoin falling drastically in the last few weeks, it makes sense that SOS would see some bearish sentiment as well. The most recent news from the company came on May 10th, when it announced the launch of a hosting business at the Super Computer and Hosting Center in Wisconsin. This will allow it to manage more than 21,000 mining rigs to date.
“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 of SOS, Mr. Yandai Wang
Because SOS stock is so volatile, it is impossible to say if shares will continue to move in either direction. With this considered, will it be on your penny stocks watchlist?
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks to buy during such a topsy turvy time in the market can be difficult. But, by understanding what is going on, investors can have a much greater chance of taking advantage.
Because there are so many factors at play, investors need to constantly stay on their toes as it relates to daily market moves. With this in mind, which penny stocks are you watching right now?