3 Hot Penny Stocks to Buy in July 2022
With another long weekend on the way, there is a lot for investors to know right now. If we consider that volatility is reaching extremely high levels, we see that there are plenty of opportunities to make money with penny stocks in 2022. Right now, we are seeing the stock market fall once again as momentum from last week comes to a halt. Recently, we have seen both penny stocks and blue chips enter a bear market. And despite immensely bullish trading last week, this week has been a slight reversal.
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A new report came out today showing that consumer confidence dropped to a 16-month low this month with inflation continuing to rise. And because of that, we saw a midday bearish reversal take hold. So, while this is not ideal, large movement does always present an opportunity for investors to capitalize. With all of this in mind, here are three penny stocks that could be worth adding to your July watchlist.
3 Penny Stocks to Add to Your July Watchlist
- Yatsen Holding Ltd. (NYSE: YSG)
- Transocean Ltd. (NYSE: RIG)
- Blue Apron Holdings Inc. (NYSE: APRN)
Yatsen Holding Ltd. (NYSE: YSG)
One of the more decent gainers of the day is YSG stock. At midday, shares of YSG stock had shot up by over 7%, which is no small feat. And to understand why, we have to take a closer look at the company. In the past five days, YSG stock has climbed by over 30% and more than 150% in the past month. These explosive moves are not the result of any specific instance, however, we can look at some recent announcements.
In the past year, shares of YSG stock are down by over 90%, which makes it at low levels as of late. Despite revenue falling slightly in the past year or so, the company has seen a rise in bullish interest. And, it remains difficult to say why aside from investors hoping shares will climb in the coming weeks and months. So, with all of this in mind, do you think YSG is worth adding to your list of penny stocks to buy or not?
Transocean Ltd. (NYSE: RIG)
While RIG stock was climbing during trading on June 28th, it quickly fell to mostly flat by EOD. This came alongside a bearish turn in the market, but despite this, RIG’s high volume makes it worth taking a closer look at. In the past five days, shares of RIG stock have climbed by more than 3.5%. And, in the past six months we’ve seen shares of RIG stock shoot up by over 20%. The main reason for its recent upticks come as the company received a contract extension from one of its primary customers.
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It stated that this contract worth $181 million is from Equinor SA, for one of its harsh-environment floaters. And, it states that the contract covers nine wells and two one-well options. The company states that drilling will begin on October of next year and end in April of 2025. With this, we see that Transocean is working hard to grow and fill its fleet with business. So, while it is hard to say what the long term trajectory of the company will be, it’s clear that RIG could be worth adding to your penny stocks watchlist.
Blue Apron Holdings Inc. (NYSE: APRN)
Another big gainer on June 28th is APRN stock, which shot up by over 10%. And, in the past five days, we’ve seen APRN stock explode by over 40%, which is no small feat. While there is no major news right now for APRN, the company did recently announce that its meal kits are available on Walmart’s website. Typically, customers subscribe to Blue Apron to receive meals. However, now, they can buy it directly from the big box retailer.
This is major news for Blue Apron in terms of distribution and its fundamentals. And recently, APRN stock has not had the best performance, indicating that this could be the major turnaround that the company needs. In addition to this, the company recently released seasonal meal kits, which should help to bring in more customers. And, as people continue to go back to in-person work, the demand for meal delivery services could rise. Considering this, do you think APRN stock is a buy right now or not?
Which Penny Stocks Are Worth Buying Right Now?
With so much going on in the stock market right now, investors need to understand exactly how to take advantage. This means looking at the news, looking at specific events and press releases, and understanding how to trade with them in mind.
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While we can’t predict the future, we do know that volatility is likely to be a constant moving forward. So, this means that investors either have to be comfortable with major movement, or they have to find more stable penny stocks to buy. Regardless, which penny stocks do you think are worth buying right now?
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