3 Hot Penny Stocks For Your Early July Watchlist
On July 6th, we are seeing a sizable amount of flat trading for penny stocks and blue chips. This comes as the Fed reported its latest minutes, stating that it could be ‘more restrictive’ if inflation does not fall. As we’ve all seen, in the past few months, inflation is the major cause of market momentum. And as a result, many investors look to issues such as whether or not inflation is continuing to climb, to understand where to find penny stocks to buy.
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In addition, one of the most crucial steps to profiting with penny stocks in 2022 is having a well-thought-out trading strategy. This means knowing your risk tolerance and using it as an advantage. While we don’t expect volatility or inflation to drop off in the coming weeks, there are plenty of ways to use it as an advantage. Considering all of this, let’s take a look at three hot penny stocks to add to your watchlist right now.
3 Hot Penny Stocks to Watch in July 2022
- Akebia Therapeutics Inc. (NASDAQ: AKBA)
- Oatly Group (NASDAQ: OTLY)
- Verrica Pharmaceuticals Inc. (NASDAQ: VRCA)
Akebia Therapeutics Inc. (NASDAQ: AKBA)
One of the larger gainers on July 6th is AKBA stock. At EOD, shares of AKBA stock shot up by over 11%. This sizable gain comes after a six month drop of more than 79%. So, is there any news behind Akebia’s recent uptick? Well, before we go any further, it’s worth noting that we have seen an increased amount of bullish sentiment in the stock market with biotech stocks. This is likely a reason behind AKBA’s rise, however, it is not the only reason.
On July 5th, the company announced that it is offering inducement grants under the NASDAQ listing rule 5635(c)(4). This comes as two newly-hired employees were given 4,000 shares of common stock on as of June 30th. If you’re not familiar, Akebia is a biopharmaceutical company working on treating a range of kidney diseases. So, with this exciting news in mind, do you think that AKBA is worth adding to your penny stocks watchlist or not?
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Oatly Group Inc. (NASDAQ: OTLY)
With over 2% in gains at EOD, OTLY is another penny stock that investors are watching right now. And in the past five days, shares of OTLY stock have climbed by over 10%. With over 15% in losses last month, investors in Oatly are excited about these recent gains. And, it could also be a result of traders attempting to capture momentum as OTLY stock climbs from its recent losses. Recently, the company established a CEO succession plan.
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This comes as it has seen major issues due to production that have caused it to not keep up with customer demand. As a result, other competitors in the alternative milk space have been able to capitalize heavily. So, while it is hard to say if OTLY stock is worth buying right now or not, we do know that it is seeing bullish sentiment. And with the major demand for alternative milk, there is a lot that investors are hopeful for regarding Oatly. Considering this, will it be on your list of penny stocks to buy or not?
Verrica Pharmaceuticals Inc. (NASDAQ: VRCA)
At EOD on July 6th, shares of VRCA stock managed to climb by over 9%. And, during after hours, we saw shares shoot up by another 1.4%. This major gain for the company adds to a five day uptick of over 18%. The most recent news from VRCA came on June 29th. On the 29th, it announced the pricing of a public offering of common stock. The company announced that it would sell 12 million shares of common stock at a price of $2.10 per share.
And with this money, it should be able to engage in producing more medicines and better research. If you’re not familiar, Verrica is a dermatology focused company that is developing a variety of drugs for use in skin disorders. This includes its VP-102, which is currently in development to treat Molluscum. Additionally, it is working on VP-103, which could that plantar warts. As stated earlier, there is a lot of bullish sentiment with biotech stocks right now. So, do you think VRCA stock is worth buying in 2022 or not?
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks that are worth buying in 2022 is not easy. But, with a commitment to understanding how to trade and a strong trading strategy, making money with penny stocks can be completely possible.
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Right now, we continue to see incredibly high rates of volatility in the stock market. This means that staying on your toes is crucial. And, with so much going on, there are also plenty of opportunities for traders of all types to profit. So, with all of this in mind, which penny stocks are you watching right now?
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