Buying Penny Stocks on June 14th? Here’s What You Need to Know
If you’re looking for penny stocks to buy right now, there are plenty of options to choose from. In June 2022 stocks are highly dependent on rising inflation and interest rates from the Fed. And because of that, paying attention to what is going on across the board is crucial. For that reason, let’s take a look at what you may have missed on June 13th, 2022.
Stock Market Recap, June 13th, 2022
On June 13th, the stock market took a major dive again. This comes as the market took a dive into bear territory with the NASDAQ Composite falling 4.7% at market close. In addition, the S&P 500 took a dive by 3.9%.
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Officially, the market is now 20% below its recent record high from January, indicating that we are in bear territory. With all of this in mind, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Right now, there is a high amount of volatility in the stock market. This means that investors need to fully stay on their toes to avoid losing money. In addition, we’re also seeing a higher amount of bullish sentiment with biotech and tech penny stocks. So, make sure to keep that in mind when investing. Considering this, here are three penny stocks to add to your watchlist today.
3 Penny Stocks to Watch Today
- Endo International Plc. (NASDAQ: ENDP)
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Clovis Oncology Inc. (NASDAQ: CLVS)
Endo International Plc. (NASDAQ: ENDP)
During after hours on June 13th, ENDP stock pushed up by over 3.3%. This comes after shares fell by over 10% during trading. So, is there a bullish case for ENDP stock or not? Recently, the company announced that it entered into a commercialization agreement with TLC BioSciences. In the deal, the company states that TLC will receive $30 million and an additional milestone-based payment of $110 million.
“We are pleased to be adding another TLC product to Endo’s portfolio. We see tremendous opportunity in TLC599 to potentially address an unmet medical need in patients with osteoarthritis arthritis knee pain. If approved, we expect to launch this differentiated branded product in 2025.”
The President and CEO of Endo, Blaise Coleman
Keeping this in mind, will it be on your penny stocks watchlist?
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
Another major after hours gainer on June 13th is KAVL stock. However, shares managed to explode during both trading and the post-market session, climbing by over 33% and more than 59% respectively. This gives it a five day gain of over 24%, which is quite solid for the company.
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The biggest news comes as the company announced that it reached an agreement with Philip Morris for the distribution of its electronic nicotine delivery system. This is a major deal for the company and shows that it could be worth keeping an eye on in the coming weeks. With vaping continuing to be a major product for many companies right now, KAVL is an interesting penny stock to add to your watchlist right now.
Clovis Oncology Inc. (NASDAQ: CLVS)
One of the larger after hours gainers we’ve seen in quite some time is CLVS stock. During trading and after hours, CLVS stock managed to climb by over 5% and more than 39% respectively. These major gains reflect no news from the company. So, to understand it better, we can take a closer look at its recent moves.
At EOD, volume for CLVS reached over 10 million, which is quite high compared to its average. And although biotech penny stocks are in focus right now, that is not enough to justify this major after hours uptick. So, considering its big move, do you think CLVS stock is worth adding to your list of penny stocks to buy or not?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy right now can be challenging. But, with such a brand range of companies to choose from, it can be much easier than previously imagined.
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In 2022, it is all about understanding exactly what is going on in the stock market and how to take advantage. The best way to do this is to stay up to date with the news and figure out how to use that as a benefit. Considering all of this, which penny stocks are you watching right now?
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