Buying Penny Stocks on June 21st, Here’s What You Need to Know
With another week of trading penny stocks here, there is a lot for investors to know. For starters, we know with certainty that there is quite a lot of volatility right now. This is the result of the sheer number of factors that are impacting both penny stocks and blue chips.
So, while there is little else we know with certainty, investors should remember to stay on their toes. Considering this, let’s take a look at what you may have missed on June 17th.
Stock Market Recap, June 17th, 2022
On June 17th, stocks managed to push up despite the bearish week of trading. This makes sense as investors looked to scoop up some stocks at low prices. And, while we digest info from the Fed stating that there needs to be more done to curb inflation, many expect the bear market to continue at least in the short term.
[Read More] Biotech Penny Stocks Investing Guide
Despite the bullish sentiment on Friday, June 17th, the S&P 500 is still at its lowest since the end of 2020. And as a result, investors are buying and selling stocks with caution. Keeping 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 the market open on June 21st, we are seeing futures up. Despite it being a short week, it should be an exciting one for investors to consider. With the Dow and S&P 500 up by around 270 points and 40 points respectively, we could see investors look for penny stocks and blue chips that are at value prices. So, keep in mind that the volatility in the stock market right now, will likely continue into the future. With this considered, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- G Medical Innovations Holdings Ltd. (NASDAQ: GMVD)
- Cyngn Inc. (NASDAQ: CYN)
- Bluebird Bio Inc. (NASDAQ: BLUE)
G Medical Innovations Holdings Ltd. (NASDAQ: GMVD)
With a 2.9% after hours gain on June 17th, GMVD is a penny stock that investors are watching right now. The most recent news from the company came on the 17th when it announced the receipt of a NASDAQ minimum bid price notification. This comes as the company is no longer in compliance with the $1 listing price.
And during trading, this caused an 8% drop for GMVD stock. While that was disappointing, its after hours move means that investors are digesting this news well. Considering that, does GMVD belong on your penny stocks watchlist or not?
Cyngn Inc. (NASDAQ: CYN)
Another big after hours mover on Friday, June 17th was CYN stock. While during trading, shares of CYN managed to drop by around 6.5%, the company saw an after hours uptick of over 2.2%. The most recent news from the company came on May 27th when it announced a collaboration to exhibit industrial autonomous mobile robot technology.
This collaboration with Qualcomm was displayed at the Hannover Messe Expo. While since then not much news has been released, this was an exciting update. If we consider that CYN stock is seeing these gains and drops with no news, the only explanation is that Cyngn is highly volatile. So, whether this makes it worth adding to your list of penny stocks to watch, is up to you.
Bluebird Bio Inc. (NASDAQ: BLUE)
With a 16% gain during trading and a 2.2% gain during after hours on June 17th, BLUE is a penny stock that investors are watching right now. Despite only climbing by around 11% in the past month, BLUE has seen some major gains during that time. The most recent news from the company came as the company presented on June 16th at the European Hematology Association Hybrid 2022 Congress.
At this, it announced exciting results discussing its exa-cel therapy for sickle cell disease. Right now, we continue to see major bullish sentiment with biotech penny stocks. And as a result of this, BLUE could be worth keeping a close eye on.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy right now can be tricky. But, by understanding exactly what is going on in the stock market, investors can have a much easier time making money with penny stocks.
Now, to find the right penny stocks for your buy list, it takes dedication to researching the current factors at play and certain stocks specifically. Once this is done, it can be much easier to profit with small caps. Considering all of this, which penny stocks are you watching right now?