3 Hot Penny Stocks to Add to Your Watchlist Right Now
While June 29th, 2022 was a rather flat trading day for penny stocks and blue chips, there is a lot for investors to look forward to right now. For example, in 2022 we have seen many penny stocks fall to very low levels.
And while this is not ideal, it has made many penny stocks and blue chips hit value levels. So, if you have been waiting to invest in the stock market, now may be a good time to start. Of course, penny stocks can always go down as well as up, so it’s important to do your research and understand the risks before investing. But if you’re looking for opportunities in the stock market, penny stocks can be a great place to start. Although volatility is very high right now, there are still opportunities to be had.
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So, if you’re thinking about investing in penny stocks, make sure you understand the risks and that you do your research. While it is impossible to predict what will happen in the near future, we do know that these large fluctuations could continue. With this in mind, let’s take a look at three hot penny stocks to watch right now.
3 Hot Penny Stocks to Watch Right Now
- AcelRx Pharma Inc. (NASDAQ: ACRX)
- Connect Biopharma Holdings Ltd. (NASDAQ: CNTB)
- Geron Corp. (NASDAQ: GERN)
AcelRx Pharma Inc. (NASDAQ: ACRX)
One of the larger gainers on June 29th was ACRX stock. At EOD, shares of ACRX managed to shoot up by over 15%, which is no small feat. And, during after hours, we saw shares of ACRX stock climb by another 6.5%.
So, with so much bullish action right now, many investors are wondering why shares of AcelRx stock are climbing. And to answer this, we have to take a closer look at it. In the past five day period, ACRX stock has seen over 25% in gains. And while it has not released any news during that time, we have seen major popularity in the biotech sector in the last month or so.
Around a month ago, news came out that the FDA had modified its Dsuvia Risk Evaluation and Mitigation Strategies requirement for healthcare setting audits. And as a result, we saw shares of AcelRx climb greatly when this was announced. So, although this was quite some time ago, we could still be seeing the effects of this in trading. With this in mind, will ACRX be on your penny stocks watchlist or not?
Connect Biopharma Holdings Ltd. (NASDAQ: CNTB)
During trading on June 29th, CNTB stock managed to shoot up by over 8.5%. Despite dropping by around 7% in after-hours trading, CNTB stock has climbed by over 23% in the past month. The most recent news from the company came on June 17th. On June 17th, the company announced that it received a letter from the NASDAQ stating that it had not met the minimum listing requirement of $1.
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In late May, the company presented data at the Society for Investigative Dermatology Annual Conference. This was the latest update from the company. If you’re not familiar, Connect Biopharma is a clinical stage biopharmaceutical working on improving the lives of those with inflammatory diseases. Recently, we’ve seen major bullish sentiment with biotech stocks as mentioned above. And because of that, CNTB stock could be worth adding to your list of penny stocks to watch.
Geron Corp. (NASDAQ: GERN)
During trading on June 29th, GERN stock shot up by over 1.3% and by 0.5% in after hours respectively. And, in the past five days, shares of GERN stock have exploded by over 17%. The most recent news from the company came on June 16th.
On the 16th, the company announced that it granted a non-statutory stock option to purchase an aggregate of 70,000 shares. For some context, Geron is a late-stage clinical biopharmaceutical company. It works on the development and commercialization of drugs used in hematologic malignancies.
And, right now, it is working on two Phase 3 clinical trials known as Merge and IMpactMF for refractory myelofibrosis. Despite no major news coming out of the company as of late, it has seen heightened popularity recently. Considering that, do you think GERN stock is worth buying or not?
Can Penny Stocks Continue to Climb?
If you’re looking for the best penny stocks to buy in 2022, there are hundreds of options to choose from. But, to pick the best penny stocks to buy, investors need to have a complete understanding of what is going on in the stock market. That means looking at the news, current events, and any press releases that may have come out recently.
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As a result, it can be difficult to keep up with the sheer amount of things going on. But, with a great understanding of what is going on in the stock market, making money with penny stocks can be that much easier. With that in mind, do you think that penny stocks can continue to climb or not?