3 Penny Stocks to Add to Your Watchlist Tomorrow
After another interesting day of trading penny stocks and blue chips. While finding penny stocks to buy can be difficult, there are a few steps to make it easier than previously imagined. First off, it’s important to know what penny stocks are. Penny stocks are shares of a company that trade for less than $5 per share. While this means that they are quite cheap, the price also makes them much more volatile. And in the past few months, those who have invested in penny stocks have felt this volatility quite heavily.
The next aspect to remember is to always understand what is going on in the market and how to take advantage. This will be difficult for some as penny stocks are not always the most stable, but with a little bit of research and understanding, it can be easy to find penny stocks that are worth investing in.
And lastly, always make sure to have a well thought out trading strategy on hand. This means knowing what type of investor you are and how to take advantage of penny stocks when they are moviing. By following these three steps, you can make penny stocks trading much easier and more potentially more profitable. And while it is easy to lose money with small caps, these steps will give you the best chance at success. Considering this, let’s take a look at three penny stocks to add to your watchlist tomorrow.
3 Penny Stocks to Watch in Mid-June 2022
- Sonim Technologies Inc. (NASDAQ: SONM)
- IQIYI Inc. (NASDAQ: IQ)
- Soleno Therapeutics Inc. (NASDAQ: SLNO)
Sonim Technologies Inc. (NASDAQ: SONM)
One of the larger gainers on June 14th was SONM stock. At EOD, shares of SONM had shot up by more than 18% to over $0.62 per share. This brings its one month uptick to over 11%, which is no small feat. So, why are shares of Sonim Technologies climbing right now?
The main reason comes as the company recently announced new additional purchase orders worth roughly $6.4 million. This is for stocking inventory of its new XP5plus phone with PTT capabilities. In addition, this concerns its XP10 5G rugged smartphone. The company states that these orders are from a large U.S. carrier and that two Canadian carriers will also be stocking these products.
“We are moving ahead rapidly on our new business strategy to offer a wider range of rugged 5G smartphones, feature phones, hot spots, and industrial communications equipment focused on these unique but underserved market needs.
We are already in discussion around additional carrier awards for both existing and new devices as we continue to focus on carrier partner needs not well served by currently available hardware solutions.”The CEO of Sonim, Peter Liu
This is very exciting news for the company and shows that it is working hard to grow. While it is tough to say what the long term trajectory of this will be, there’s no doubting that SONM could be worth adding to your list of penny stocks to watch.
IQIYI Inc. (NASDAQ: IQ)
On June 14th, we saw some major gains from IQ stock. At EOD, shares had shot up by over 19% to more than $4.67. With this, we see that IQ is approaching non-penny stocks status. With a one month uptick of over 35%, it’s clear that there is a lot of bullish sentiment for IQIYI right now. And to understand this further, we have to take a closer look at the company and any recent announcements.
The most recent update from the company comes as investors are showing more bullish sentiment about the future of IQIYI. This came following a report from Wall Street analysts that there could be potential upside of 48% for IQ stock. Keep in mind that this is just an analyst rating and should be taken as such. But, there’s no doubting the excitement behind IQ stock right now. Considering all of this, do you think IQ is worth buying or not?
Soleno Therapeutics Inc. (NASDAQ: SLNO)
With over 5.9% in gains at EOD on June 14th, SLNO is another popular penny stock to watch right now. In the past five days, shares of SLNO stock have shot up by over 16%. The main reason comes as the company presented new data from its late-stage DCCR development program for Prader-Willi syndrome. It stated that patients experienced improvements in their body composition via changes in lean body mass.
Additionally, the company highlighted the safety of this compound, stating that the most noted side effects were expected based on previous trials. So, with the recent focus from investors on biotech penny stocks, it’s clear that SLNO stock is interesting right now. Whether this makes it worth adding to your penny stocks watchlist however, is up to you.
Are Penny Stocks Worth It or Not?
Are penny stocks worth buying or not? This is a question that many novice investors ask when they are first getting started in the stock market. Yes, penny stocks can lead to big losses for the inexperienced investor. But, with some research and due diligence, penny stocks can also lead to big profits.
So, always make sure to solidify your investment strategy before buying penny stocks and understand exactly what is going on in the stock market. With all of this in mind, do you think penny stocks are worth buying right now or not?