3 Penny Stocks to Watch in the Second Half of June 2022
After a bullish day of trading for penny stocks and blue chips, investors are excited about the future. Now, the past few trading days have been extremely bearish. And during that time, we’ve seen the stock market slip into an official bear market. But, this does not mean that there are no opportunities to be had with penny stocks. Rather, finding penny stocks to buy now is all about understanding where to look.
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To have the best chance of making a profit, investors have to understand what is going on in the stock market. This means looking at the news as it relates to the market as a whole, industries, and companies specifically. Because they are so speculative, this will be your greatest chance at making money with penny stocks in 2022. Considering this, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your End of June Watchlist
Nokia Oyj (NYSE: NOK)
One of the more decent high-volume gainers of the day on June 15th is NOK stock. At EOD, shares had shot up by more than 1.9%, which is no small feat considering the bearish trajectory of the market as of late.
The most recent news from the company came on June 15th when it announced a share repurchasing program. It stated that it purchased for a maximum aggregate price of EUR 300 million, which comes after the program was initiated in February of this year. And while that price is the maximum, on June 15th, it only executed EUR 1,636,776 in transaction cost.
If you’re not familiar, Nokia is a tech penny stock that creates a variety of products. This includes those used in fixed cloud networks as well as mobile and much more. While the company has not made any other major announcements recently, we have continued to see heightened bullish sentiment with tech penny stocks in the past few months. Considering that, will NOK be on your penny stocks watchlist or not?
Zomedica Corp. (NYSE: ZOM)
At EOD on June 15th, shares of ZOM stock had shot up by more than 15% to over $0.25 per share. And, this comes after a one month jump of more than 14% for Zomedica Corp. So, after major bearish sentiment in the last six months, why the recent bullish moves for ZOM stock?
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Well, the latest news from the company came today when it announced that it would acquire the assets of the company, Revo Squared. Revo Squared is a veterinary imaging company that offers the innovative, MicroView technology. This is a digital cytology platform that offers high-quality imaging for veterinarians.
“We are excited to join the team at Zomedica; this deal will bring our MicroView product offering into the forefront of veterinary medicine. For the first time clinicians will be able to have hematology and cytology slides automatically smeared and stained inside a microscope, eliminating human error in slide preparation.”The CEO of Revo Squared, Bill Campbell
This is big news for Zomedica Corp. and could be a significant value add for investors to consider. So, although it is tough to say if ZOM stock is worth buying or not right now, we know that this is a deal for investors to consider. Whether that makes ZOM an add to your list of penny stocks to watch, is up to you.
Tellurian Inc. (NYSE: TELL)
TELL stock is a penny stock that we have covered multiple times in the past few months. And on June 15th, shares of Tellurian Inc. managed to shoot up by over 6% before pushing up slightly in after hours trading. In the past six months, shares of TELL have climbed by more than 29%, which shows that there is a sizable amount of bullish sentiment behind Tellurian Inc. right now. The biggest recent news from the company came on June 1st.
On the 1st, it announced that it signed into a definitive agreement for $500 million in offering of its senior convertible notes. The notes will have an interest rate at 6% per year and they will expire on May 1st of 2025. With this, the company will be able to engage in ongoing business needs and future prospects. Recently, we’ve seen a lot of bullish movement in the energy industry. And as an oil and gas company, Tellurian is a major part of the sector. So, do you think it is worth adding to your buy list or not?
Are Penny Stocks Worth Buying Right Now?
Are penny stocks worth buying right now? This is a question that many investors ask themselves, and the short answer is that it is completely up to the individual investor. Right now, we have to consider both our individual trading strategy and exactly what is going on in the stock market.
The two of these factors will allow traders to find the best ways to profit with small-caps and to have the best chance of not losing money with penny stocks. So, with all of this in mind, do you think penny stocks are worth buying right now or not?