3 Trending Penny Stocks For Your Early July Watchlist
When it comes to finding trending penny stocks to buy, there are plenty of options to choose from. However, not all penny stocks are created equal. Some may be on the rise due to positive news or developments, while others may be facing headwinds.
To find the best penny stocks to buy, you’ll need to do your research. This includes reading stock market news and analysis, as well as keeping an eye on stock charts and any company specific news. With penny stocks, we see that news and speculation is often more important than actual earnings or fundamentals. This is the result of the large amount of news that circulates about penny stocks and the volatility that they inherently have.
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Although it can be tough to find penny stocks that are trending and worth buying, there are plenty of ways to do just that. One thing to keep in mind is that when penny stocks are trending, we typically see prices move very quickly in both directions. This means that there is both the potential for large gains and losses.
As such, it’s important to be mindful of your risk tolerance when investing in penny stocks. When it comes to finding trending penny stocks to buy, there are plenty of options to choose from. With this in mind, let’s take a look at three that could be worth watching.
3 Trending Penny Stocks to Watch in July 2022
- Zomedica Corp. (NYSE: ZOM)
- Enjoy Technology Inc. (NASDAQ: ENJY)
- Luokung Technology Corp. (NASDAQ: LKCO)
Zomedica Corp. (NYSE: ZOM)
One of the larger gainers during trading and after hours on July 5th was ZOM stock. At EOD, shares had shot up by over 5.5% and more than 14% in after hours respectively. These are major gains that come after a six month drop of over 30%. So, why is ZOM stock climbing right now? Well, during after hours, the company announced that it received a notice of allowance for a U.S. patent titled “Compositions and Methods for Identifying Cancer Cells”. This is major news for the company and clearly explains its gain.
Outside of this, the company announced a few days ago that its Pulsevet subsidiary is the official supplier of shock wave therapy to U.S. Equestrian Team Veterinarians. This is a big deal for the company and this product as it shows the potential that it has in real world applications.
“We are honored to be able to work alongside USEF to help provide optimal care and educational support for these amazing equine athletes and all the animals that we rely on for so much.”
The VP of Zomedica and GM, Adrian Lock
With this exciting news in mind, do you think that ZOM is worth adding to your list of penny stocks to buy or not?
Enjoy Technology Inc. (NASDAQ: ENJY)
A major gainer on July 5th was ENJY stock. During trading and after hours, ENJY exploded by over 80% and more than 64% respectively. These incredible gains bring it to more than $0.50 per share. In the past six months, shares of ENJY have fallen by over 90%. So, is now the time that we see ENJY stock climb back over $3 per share or not? To understand this, we have to take a closer look at its recent news.
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Recently, the company announced that it is filing for bankruptcy. This comes only a year after the company became public via an SPAC deal. And, it states that it will sell off its remaining assets to a tech repair company known as Asurion. As a provider of mobile retail stores, the company has had major issues with staffing in the past year or so. And as a result, it has not been able to succeed to the best of its abilities. So, with all of this in mind, do you think that ENJY is worth adding to your penny stocks watchlist this week?
Luokung Technology Corp. (NASDAQ: LKCO)
Luokung Technology is a penny stock that we have covered multiple times in the past few months. And with an over 5% gain during trading today, it is worth covering once again. The most recent update from the company came on June 29th when it announced that its eMapGo subsidiary would provide autonomous driving data services for Zenseact.
“We are pleased to announce the signing of this agreement following the Phase I project Luokung started to provide since September 2021. We look forward to strengthening our partnership with Zenseact as their autonomous driving data services provider and to working closely with their team in fulfilling their mission of creating a safe and reliable autonomous driving platform.”
Mr. Xuesong Song, the Chairman and CEO of Luokung
This is a big update for the company and one that investors should consider. Whether this makes LKCO stock worth buying or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy in 2022, there are hundreds of options to choose from. As a result, it can be complicated to find the best penny stocks for your buy list.
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So, always make sure to do your research and understand exactly what is going on in the stock market before buying in. With this in mind, which penny stocks are you watching right now?
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