3 Penny Stocks to Watch in Mid-June 2022
With another day of bearish trading for penny stocks and blue chips, investors are slightly worried about what the future could hold. And while there is no doubting that this is a bad sign for the stock market as a whole right now, there are some penny stocks that could be worth watching.
Because penny stocks don’t like to play by the rules, often, they will move no matter what the broader market conditions are. And for that reason, it is always worth looking for penny stocks to buy. During trading on June 13th, we saw the Dow Jones sink by roughly 600 points with the NASDAQ down by over 3%. These come as Friday, June 9th, was also a major bearish day across the board.
The major concern right now comes as fears of rising interest rates from the Fed are becoming more and more real. And with inflation growing at rates not seen in years, the Fed is working hard to combat it. So, with all of this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- Bluebird Bio Inc. (NASDAQ: BLUE)
- Borqs Technologies Inc. (NASDAQ: BRQS)
- Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Bluebird Bio Inc. (NASDAQ: BLUE)
One of the larger gainers of the day on June 13th is BLUE stock. At EOD, shares of BLUE stock managed to shoot up by over 17%. This is a sizable gain and adds to a five-day gain of over 50%.
The giant uptick for the company comes as the company announced that an advisory committee for the FDA recommended two of its experimental gene therapies. While the rest of the stock market is falling right now, Bluebird is seeing these explosive gains due to this news. And, it is a perfect example of how speculative both the stock market is and biotech stocks more specifically.
The news comes as the company stated that the committee voted 15-0 for the benefits of its elivaldogene autotemcel. This is a potential treatment for children and teens with early cerebral adrenoleukodystrophy. With this very exciting news in mind, will BLUE be on your penny stocks watchlist?
Borqs Technologies Inc. (NASDAQ: BRQS)
Another big gainer on June 13th is BRQS stock. At EOD, we saw shares of BRQS stock climb by more than 1.6%, which is no small feat. And during the past five day period, we’ve seen BRQS stock climb by over 19% and more than 28% in the past month.
The most recent news from the company came on June 8th when it announced that its solar energy subsidiary saw large market traction. This occurred as the subsidiary, Holu Hou Energy LLC, is participating in the Hawaiian Electric Battery Bonus Program for ESG.
The company utilizes proprietary technology to allow for power sharing at the direct current level. This means that it could impart significant cost-savings on to customers. If you’re not familiar, Borqs Technologies is a leader in software and IoT products. And, the company has continued to make headway in the past few months in the tech industry. With all of this considered, do you think BRQS stock is worth adding to your list of penny stocks to buy or not?
Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
On June 13th, PBTS stock pushed up by a very sizable 6.9% at EOD. And while this may not seem like much we have to consider that the rest of the stock market is falling substantially right now. So, this means that PBTS stock could have an advantage.
To understand why PBTS stock is climbing right now, we have to take a closer look at its recent news. Looking at PBTS, we see that the company has not made any announcements in the past few weeks. However, it did state that its smart monitoring platform was included in the list of Zhuhai City innovative products a few months ago.
This news is quite old, and therefore, it makes it very difficult to tell why shares of PBTS stock are climbing right now. Powerbridge Technologies is a provider of tech solutions. This includes a range of softwares, intelligent devices, and more. While it is hard to say if PBTS stock will continue climbing or not, it could be worth keeping an eye on.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, there are hundreds to choose from. But, understanding where to look and what you’re looking for is where the hard part comes in. Right now, it all comes down to knowing what is going on in the stock market and how to take advantage.
[Read More] Best Penny Stocks to Buy Next Week? 3 to Watch?
And as we stated earlier, the main issue in the stock market is inflation and rising interest rates. So, if we consider this, we begin to see just why stocks are moving right now. With all of this in mind, which penny stocks are you watching right now?