3 Hot Penny Stocks to Add to Your Watchlist in July
With so many penny stocks to choose from, it can be tough to know where to start. And in 2022, there is a myriad of factors that are causing major movement in the stock market. As traders, the best course of action for making money with penny stocks is to be well-informed and act fast on stocks that are moving.
When looking for penny stocks to buy, there are a few things to keep in mind. First, consider the company’s financial stability. Is it making money? Are its products in demand? Does it have a solid management team? These are all important factors to look at and consider before investing.
Second, make sure to understand what news is contributing to the stock’s movement. For penny stocks, even the smallest bit of news can cause a big price swing. So, it’s important to be up-to-date on all the latest news surrounding a company before making a move.
Lastly, don’t get caught up in the hype. Just because a penny stock is getting a lot of attention doesn’t mean it’s a good investment. Be sure to do your own research before buying any penny stocks. With all of this in mind, let’s take a look at three penny stocks that could be worth adding to your July watchlist.
3 Penny Stocks to Add to Your July Watchlist
- Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT)
- Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
- Geovax Labs Inc. (NASDAQ: GOVX)
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT)
On June 22nd, shares of BHAT stock managed to shoot up by over 20% at EOD. In the past month, we’ve seen BHAT stock fall by over 60%, which makes this recent gain even more impressive. And, during after hours, shares of BHAT stock shot up by an explosive, 85%. The major news for the company came as it announced the termination of its previously proposed shelf takedown offering.
If you’re not familiar, Blue Hat is a producer and developer of AR interactive entertainment. It offers this through its wide variety of materials such as educational products, mobile games, and toys. With all of this considered, do you think that BHAT stock is worth adding to your list of penny stocks to buy or not?
Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
Another major gainer on June 22nd is CRXT stock. At EOD on the 22nd, shares of CRXT had shot up by over 18% to more than $0.42. And during after hours, we saw CRXT stock shoot up by another 1.7%. In the past few months, we’ve seen major bullish interest in biotech penny stocks. The most recent news from Clarus came on June 9th when the company announced that it would present new data for its Jatenzo compound. This presentation took place in Atlanta on June 11th-14th. Since then however, not much news has come from Clarus.
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It is worth noting that Jatenzo is the first FDA-approved oral soft gel for testosterone replacement therapy. Last month, the company also announced that it was issued a patent regarding this compound, which was good news when it came out. Since then however, it has been mostly quiet for Clarus. So, its recent movement could be due to bullishness in the stock market in the last day or two, or other reasons. But regardless, CRXT could be worth adding to your penny stocks watchlist.
Geovax Labs Inc. (NASDAQ: GOVX)
With over 4.8% in gains during trading and 6.8% in gains during after-hours respectively, GOVX is seeing heightened popularity right now. In the past month, shares of GOVX stock have fallen by around 43%. And as a result, this bullish move is an exciting one for investors to consider. The most recent news from the company came around a week ago when it announced the appointment of John W. Sharkey as its VP of Business Development.
Prior to this, it announced a $20 million offering as well as a presentation at BIO International Convention which occurred last week. The main focus for Geovax comes as the company is in Phase 2 clinical trials for its Covid-19 vaccine and immuno-oncology drug Gedeptin. With covid cases continuing to rise right now, many investors are once again focused on this sector. Considering all of that, does GOVX belong on your buy list in July or not?
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks to buy can be tricky. But, with a strong consideration of what is going on in the stock market, you can make a better decision. Right now, we have to consider that news is the largest impacting factor on why penny stocks move.
Because of that, understanding what is going on around the world and as it pertains to specific markets, is crucial to profitability. With this in mind, which penny stocks are you watching right now?