3 Penny Stocks for Your Watchlist Right Now
As we start another week of trading penny stocks and blue chips, there is a lot for investors to know. With earnings season approaching, we are seeing some hesitancy for gains on Monday, July 11th. As a result, many traders are cautiously optimistic about the future. Because of this, now is the time to begin ensuring that your trading strategy is up to par.
That means constantly updating it and continuing to understand exactly what is going on in the stock market. While this can be challenging, looking at the news is the best way to have a heightened chance of making money with penny stocks. As we all know, penny stocks are extremely speculative. And because of this, the news will continue to have a major effect on how they trade. With this in mind, here are three penny stocks to check out right now.
3 Penny Stocks to Add to Your Watchlist in 2022
- Mullen Automotive Inc. (NASDAQ: MULN)
- Volcon Inc. (NASDAQ: VLCN)
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
Mullen Automotive Inc. (NASDAQ: MULN)
With over 3% in gains at midday, MULN stock is a penny stock that investors are watching right now. In the past five day period, shares of MULN stock have shot up by over 15%. This is a major gain for the company and comes after a six month drop of over 70%. The most recent news from the company came on July 11th.
On the 11th, it announced that Delpack Logistics (an amazon.com delivery partner) signed into an agreement to order 600 cargo vans over the next year and a half. This comes as part of a binding agreement with DelPack Logistics, LLC, which will receive 300 EV cargo vans by November 30th.
“This agreement is a milestone for Mullen Automotive. DelPack is a leader in last mile package delivery and this agreement puts our Class 1 cargo van program front and center for last mile delivery opportunities.”The CEO and Chairman of Mullen Automotive
Based out of Southern California, Mullen is a producer of clean energy solutions. This includes the production of EV options as well as add ons for the adoption of clean energy. While it is hard to say if MULN is worth adding to your list of penny stocks to buy or not, it is an interesting company nonetheless. With this considered, will it be on your penny stocks watchlist?
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Volcon Inc. (NASDAQ: VLCN)
One of the largest gainers of the day is VLCN stock. At midday, shares of VLCN had exploded by over 55%. This is an incredible gain which adds to a one month uptick of over 95%. And after a 75% one year drop, today’s gain is a welcomed advancement for investors to consider.
While we do see many gains like this without news, VLCN made an exciting announcement during trading. On July 11th, it stated that it received thousands of pre-orders for its stag in the first fourteen days. And, it stated that this should bring in roughly $70 million in potential revenue.
“We made a conservative estimate concerning sales volumes, having worked closely with our sales and marketing team to identify sales targets for 2023.
While we felt confident in our ability to reach our pre-order targets, we’ve been pleasantly surprised to find we are achieving those targets at a faster pace than we had planned. Dealer acceptance has been strong, and it’s clear to us that the powersports community is ready for high performing electric off-road vehicles. The Stag fulfills that desire perfectly.”Jordan Davis, CEO of Volcon
As an electric power sports vehicle producer, VLCN is working hard to continue growing. Considering that, does VLCN belong on your list of penny stocks to watch?
Color Star Technology Inc. (NASDAQ: CSCW)
Another gainer on July 11th is CSCW stock. At midday, we saw shares of CSCW stock shoot up by over 2.5%. And in the past five days, CSCW has pushed up by over 13%. In the past couple of months, CSCW stock has been mentioned heavily online. The most recent news from the company came on June 30th. On the 30th, the company stated that its partner team, Villarreal CF, organized youth training camps in the U.S.
The goal with this is to guild out Color Star’s high-tech entertainment focus. And, it also aims to further integrate its Color World meta verse app. As a result of this, CSCW has seen some increased popularity recently. If you’re not familiar, Color Star is an entertainment and education company that offers a large variety of digital products. This includes its Color World music and entertainment education platform as well as others. With these major updates considered, does CSCW belong on your buy list or not?
Are Penny Stocks Worth Buying Right Now?
Finding penny stocks that are worth buying in 2022 is not easy. But, with the right tools by your side, it can be much easier than previously imagined. Right now, we have a large number of events that are impacting the stock market.
This includes everything from geopolitical tensions to rising inflation and so on. As a result, volatility is at a very high level right now. So, with all of this in mind, do you think that penny stocks are worth buying or not?