Buying Penny Stocks on June 15th? Here’s What You Need to Know
If you’re looking for penny stocks to buy on June 15th, there are a lot of options. And, after some wild trading patterns across the board in the last few days and weeks, investors await some bullish sentiment.
Right now, we continue to see heightened volatility. And, it is likely that this will continue into the near and distant future. So, with this in mind, let’s take a look at what you may have missed in the stock market on June 14th.
Stock Market Recap, June 14th, 2022
During trading on June 14th, penny stocks and blue chips were mostly mixed following an incredibly bearish day on June 13th. And with the stock market officially in bear territory, investors continue to look for glimpses of bullish sentiment to no avail.
On Tuesday, the S&P 500 dropped by around 0.4% for its fifth consecutive losing session. And, the other major indexes posted similar moves. These moves right now are due to rising interest rates and climbing inflation. So, with this in mind, here’s what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Ahead of trading on June 15th, stocks struggled again with U.S. equity futures posting modest gains. Globally, we saw shares dipping in markets such as Japan, South Korea, and Australia.
On Wednesday, investors expect a 75-basis point hike from the Fed, which would be the largest climb in over 20 years. Considering all of this, let’s take a look at three penny stocks that investors are watching right now.
3 Penny Stocks to Watch Right Now
Revlon Inc. (NYSE: REV)
At EOD, shares of REV stock managed to explode by over 59% and more than 4% during trading and after hours respectively. And while we do see major gains with penny stocks, a gain this large is worth looking into. Right now, investors are worried about potential bankruptcy with REV stock, however, shares are flying.
This resulted in a trading halt only a few minutes into the session on Tuesday. While it is difficult to explain, we often see momentum like this occur even when the threat of bad news is imminent. So, while this is a highly speculative uptick, it could make REV worth adding to your penny stocks watchlist for now.
Endo International PLC (NASDAQ: ENDP)
Another decent after hours gainer on June 14th was ENDP stock. At EOD, shares of ENDP stock had shot up by over 4%, which is quite substantial. And, over the past day or so, we have seen some increased bullish sentiment with ENDP despite a 70% drop in the past month.
The most recent news from the company came on Tuesday when it announced that it had penned a deal for a pain drug used in treating osteoarthritis knee pain. In the agreement, Taiwan Liposome Company Ltd., will be responsible for developing the drug while Endo works on getting regulatory approval in the U.S. With this big news in mind, do you think ENDP is a worthwhile add to your list of penny stocks to buy or not?
Uranium Energy Corp. (NYSE: UEC)
During after hours trading, Uranium Energy saw its shares push up by around 2.75%. This comes after a dismal day of trading for the company that saw its shares drop by over 7.5%. And, in the past five days, UEC stock has fallen by over 25%, which is worth considering. The biggest recent news came as the company reported its Q3 earnings report.
In the report, it posted $7.34 million in earnings vs -$4.59 million in the same period of the previous year. This is very good news for the company especially at a time when its stock price is struggling to see gains. And, with many investors looking for alternative energy penny stocks, UEC could continue to see heightened popularity. So, do you think that UEC is worth buying right now?
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks to buy can be tricky with so much going on in the stock market. But, as we continue to see new developments in the news, there is a lot that investors can use to their benefits.
Right now, investors need to understand that inflation is continuing to rise. And, this means that we are likely to see upticks in interest rates from the Fed. So, if we consider all of this, we see that volatility will remain characteristic of the stock market in the coming days, weeks, and months. So, with all of this in mind, which penny stocks are you watching right now?