Buying Penny Stocks on July 7th, Here’s What You Need to Know
If you’re buying penny stocks on July 7th, there is a lot that you need to know. For starters, we know that volatility is at a very high level right now. And, that is not something that many believe will change in the coming days and weeks.
So, always make sure to have a well thought out trading strategy that can adapt to the shifting market conditions. With this in mind, let’s take a look at what you may have missed in the stock market on July 6th, 2022.
Stock Market Recap, July 6th, 2022
On July 6th, the stock market ended mostly flat. With penny stocks and blue chips not making any major advancements, investors are on the edge of their seats right now. The largest news in the stock market right now concerns the latest news from the Fed.
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This came in the form of Minutes, which showed that the government would continue to work to curb inflation. But, this is a similar story to one we have heard numerous times in the past few months, and as a result, it did not have a material effect on the stock market. With this in mind, here is what you need to know about buying penny stocks on July 7th.
What You Need to Know About Buying Penny Stocks on July 7th
With stock market futures down slightly ahead of market open on July 7th, it is difficult to predict what patterns will occur during the day. However, as stated earlier, there is a lot that investors are hopeful for in the future.
Right now, there are plenty of penny stocks that are trading at low levels. This is the result of bearish trading patterns that have occurred consistently over the past few months. To take advantage of this, investors need to keep a close eye on the stock market moving forward. Considering this, here are three penny stocks to watch during trading today.
3 Penny Stocks to Watch Today
- Agile Therapeutics Inc. (NASDAQ: AGRX)
- Allena Pharmaceuticals Inc. (NASDAQ: ALNA)
- AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
Agile Therapeutics Inc. (NASDAQ: AGRX)
One of the larger gainers on July 6th during was AGRX stock. At EOD and during after hours, shares of AGRX stock managed to climb by more than 1.5% and over 9.4% respectively. This sizable after hours gain is the result of overall bullish sentiment in the healthcare sector right now.
While there is no company-specific news, we have seen major positive movement with biotech penny stocks as of late. And, after a one month drop of over 45%, investors are eager to make money with AGRX stock. Considering this, do you think AGRX is worth adding to your list of penny stocks to buy or not?
Allena Pharmaceuticals Inc. (NASDAQ: ALNA)
Another large after hours gainer on July 6th was ALNA stock. During after hours trading, shares of ALNA stock climbed by around 11% after falling by over 8% during the day. The biggest recent news from the company comes as it rescheduled its meeting to approve a reverse stock split. This resulted in shares of ALNA stock falling over the course of Wednesday.
Although it is impossible to predict if ALNA stock will climb once this stock split is approved, it’s clear that it is an important piece of news for investors to consider. With this in mind, is ALNA worth adding to your penny stocks watchlist?
AcelRx Pharmaceuticals Inc. (NASDAQ: ACRX)
The largest after hours gainer on July 6th was ACRX stock. During trading and into after hours, shares of ACRX stock shot up by over 3% and more than 40% respectively. And, in the past month, ACRX stock has climbed by more than 23%.
On July 6th, we Alsop saw major and out of the ordinary volume for ACRX stock, with over 4.5 million shares traded. This is over 300% more than its usual daily trading volume. So, although there is no news for ACRX stock at the moment, it’s clear that the company is trending online. With this considered, does ACRX deserve a spot on your buy list today?
Which Penny Stocks Are on Your Watchlist Right Now?
While finding penny stocks to buy can be challenging, there are plenty of resources available for investors to use. As a result of this, it all comes down to traders to understand how to take advantage of market momentum.
So, with all of the large market fluctuations occurring, it is crucial to stay informed. This will give you the greatest chance of making money with penny stocks in 2022. With this in mind, which penny stocks are you watching right now?