3 Hot Penny Stocks to Watch During Trading This Week 

With another dismal start to a week for penny stocks and blue chips, there is a lot for investors to know right now. Although trading penny stocks has not been easy lately, there have been some opportunities for investors to profit. But, in order to make money with penny stocks, investors need to have a thorough understanding of what is going on in the stock market and whether or not that can be used as an advantage. 

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Right now, the most pressing factor comes as many believe we are entering a recession. While this isn’t official, the major bearish sentiment in the market of the past few months, is cause for concern. So, to avoid getting caught up in this, it is crucial for investors to both have a trading strategy and an understanding of their own tolerance for risk. With the market moving as quickly as it is, it is easy to lose money when it comes to trading. So, with all of this in mind, here are three penny stocks to add to your watchlist this week. 

3 Hot Penny Stocks For Your Watchlist 

  1. Yatsen Holding Ltd. (NYSE: YSG) 
  2. Sorrento Therapeutics Inc. (NASDAQ: SRNE
  3. Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT

Yatsen Holding Ltd. (NYSE: YSG) 

One of the larger gainers on July 5th is YSG stock. At midday, shares of YSG stock had shot up by over 9%, which is no small feat. This major uptick adds to a staggering five day and one month gain of more than 60% and over 210%. And during that time, we have covered YSG stock on numerous occasions. The most recent news from the company came on May 24th when it announced its Q1 2022 financial results. 

In the results, the company posted that total net revenue decreased by almost 40%. In addition, gross margin stayed around the same which is encouraging. The most important news however, comes from its skincare brands, which saw total net revenue increase by almost 70% compared to the year prior. This is big news for the company and shows that it is working hard to grow. 

“We remain focused on executing our strategy of building our brands, investing in R&D and pursuing sustainable growth in the first quarter of 2022. We have already observed early progress, including the growing skincare business and narrowing net loss and non-GAAP net loss.

Although the pandemic continues to negatively impact our business, including our offline stores and supply chain, we are working hard to transform Yatsen and optimize operations during these challenging times.”

The CEO of Yatsen, Jinfeng Huang

With this in mind, do you think YSG is worth adding to your list of penny stocks to buy or not?

Penny_Stocks_to_Watch_Yatsen

Sorrento Therapeutics Inc. (NASDAQ: SRNE) 

Another big gainer on July 5th is SRNE stock, which managed to shoot up by more than 17%. This puts it at over $2.50 per share, which is the result of a one month uptick of more than 50%. Aside from the bullish sentiment we have witnessed with biotech penny stocks, we have to see if there are any other reasons for SRNE stock climbing recently. 

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Similarly with many penny stocks, no news came out today that is sparking this gain. However, shares of SRNE stock have fallen tremendously during the first part of the year. And as a result, in the past month or so, investors have shown an increasing amount of bullish interest in the company. In addition to this, we are seeing high volume with SRNE right now, which is a great indicator of its short term popularity. With this in mind, do you think SRNE is worth adding to your penny stocks watchlist?

Penny_Stocks_to_Watch_Sorrento

Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT) 

With over 7% in gains at EOD, Clarus Therapeutic is another biotech penny stock that investors are watching right now. In the past six months, CRXT stock has fallen by over 75%. But recently, we have begun to see glimpses of bullish momentum with CRXT. The most recent news from Clarus Therapeutics came on June 9th when it announced its presentation from July 11th-14th on JATENZO. 

This is its drug used in testosterone replacement and it is the first FDA-approved oral soft gel of its kind. The drug is approved for adult males who are deficient in testosterone as a result of medical conditions. While CRXT is highly volatile right now, it is showing a lot of movement. This means that it could be worth an add to your penny stocks watchlist. 

Penny_Stocks_to_Watch_Clarus

Are Penny Stocks Worth Buying Right Now?

When it comes to finding the best penny stocks to buy, there is a lot that investors need to know. Right now, we continue to see an incredible amount of volatility across the board. And as a result, it has become easy to lose money with penny stocks if you’re not confident in your trading strategy. 

[Read More] What to Know About Buying Penny Stocks on July 5th

So, always make sure that you know what you’re doing, and that you know exactly what is going on in the stock market. With this in mind, do you think that penny stocks are worth buying right now or not?

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