3 Penny Stocks to Watch as June Comes to an End
With a relatively flat day of trading for penny stocks and blue chips, there is a lot that investors need to know. Right now, we have many factors that are impacting the trajectory of penny stocks. After the last few months of incredibly bearish trading, the last week has shown a major bullish turn around.
Despite this, Monday, June 27th did not see a strong trading day. Rather, the day ended mostly flat for stocks across the board. The major news in the market remains rising inflation and climbing interest rates. All of this has bolstered volatility and created an incredibly topsy turvy stock market. So, while there is a lot of optimism in the stock market right now, it is incredibly cautious.
As a result of this, traders are showing extreme care when picking penny stocks to buy. And while it can seem simple considering what is going on in the world, there are plenty of nuances that penny stocks investors need to consider. So, with all of this in mind, let’s take a look at three penny stocks to add to your end of June watchlist.
3 Penny Stocks For Your End of June Watchlist
- Neurosense Therapeutics Ltd. (NASDAQ: NRSN)
- Toughbuilt Industries Inc. (NASDAQ: TBLT)
- Zomedica Corp. (NYSE: ZOM)
Neurosense Therapeutics Ltd. (NASDAQ: NRSN)
One of the largest gainers of the day on June 27th is NRSN stock which shot up by over 57%. And in the past five days, we’ve seen shares of NRSN stock climb by over 60%. The main news from the company came today when it announced positive results from Stage III ALS Biomarker Study. In the study, the company stated that preliminary results showed a statistically significant decline in biomarkers treated with its PrimeC compound. And, this validates its clinical strategy moving forward.
“These results are very encouraging, especially in that they validate NeuroSense’s clinical strategy. The biomarker study, along with the data we collect from our Phase IIb study, will inform the optimization of a pivotal Phase III study of PrimeC in ALS. NeuroSense is honored to collaborate with the world-class MGH team on this critical study.”The CEO of Neurosense, Alon Ben-Noon
This is a big breakthrough for the company and one that comes after months of work. So, with this in mind, does NRSN deserve a spot on your penny stocks watchlist?
Toughbuilt Industries Inc. (NASDAQ: TBLT)
TBLT is a penny stock that we have discussed numerous times recently. And on June 27th, the company saw shares climb by over 13% at EOD. This major gain comes alongside a five day explosive trading pattern that saw TBLT climb more than 100%. And despite a six month drop of over 95%, shares of TBLT are continuing to see bullish momentum right now. The biggest recent news comes as the company announced the closing of a $6 million public offering of common stock.
It states that these funds will be used for general corporate purposes, working capital, and repurchasing exciting warrants. If you’re not familiar, Toughbuilt is a provider of innovative tools. This includes those under its brand name, where it has been selling for almost a decade. With so much attention being paid to Toughbuilt, it makes sense that it would see these major bullish climbs. Whether this makes it worth adding to your list of penny stocks to buy, is up to you.
Zomedica Corp. (NYSE: ZOM)
With a five day uptick of more than 3% and over 10% in the past month, ZOM is another penny stock that investors are watching. Recently, we’ve seen shares of Zomedica stock show extremely high volume compared to its average. And as a result of this, it is definitely worth talking about. The most recent news from the company came when it presented in a panel discussion at the Animal Health Investment Forum.
Prior to this, the company stated that it would acquire the assets of the veterinary imaging company, Revo Squared. Revo is a producer of the MicroView digital cytology platform, which offers high-quality veterinary imaging. Because of that, the company has continued to see attention in the past few weeks.
“They have done a great job of developing the MicroView system to this point, and we look forward to them leading the effort to integrate the MicroView system into the MyZomedica customer interface, commence manufacturing at our Zomedica manufacturing center in Alpharetta and bring it to market.”The CEO of Zomedica, Larry Heaton
Throughout the course of the pandemic, the amount of animals adopted has increased dramatically. Because of this, there has been an incredible focus on veterinary-related companies. So, while it is tough to say what the long term trajectory of Zomedica is, it could be worth keeping an eye on right now.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. As a result of this, investors need to understand exactly what is going on in the stock market and how to take advantage.
This means having a well thought out trading strategy and understanding how to utilize that. Although trading in 2022 can be complicated, with the right market insights, it can be much easier than previously imagined. With this in mind, which penny stocks are you watching right now?