3 Hot Penny Stocks to Watch in July 2022
With penny stocks and blue chips falling during trading today, there is a lot that investors need to know. The reason for the stock market falling right now is due to a new inflation report that came out detailing higher than expected prices. In the report, food prices are on the rise with grocery prices jumping by 12.2%.
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As a result, many investors believe that we could be in the midst of a recession or at the least, headed toward one. So, to stay up to date with the latest in the stock market, it all comes down to understanding what is going on. This means looking at the news and considering how it may impact the penny stocks on your list.
And in 2022, there are a lot of factors that are contributing to the stock markets rises and falls. Some sizable movers today include Velo3D Inc. (NYSE: VLD) and Clover Health Investments corp. (NASDAQ: CLOV) among others. As we all know, penny stocks are some of the most volatile stocks out there.
So, while they can offer you a chance to profit, they can also make it easy to lose your investment. Keeping all of this in mind, let’s take a look at three hot penny stocks to watch in July 2022.
3 Penny Stocks That Are Climbing Today
- Eos Energy Enterprises Inc. (NASDAQ: EOSE)
- TDH Holdings Inc. (NASDAQ: PETZ)
- Apollo Endosurgery Inc. (NASDAQ: APEN)
Eos Energy Enterprises Inc. (NASDAQ: EOSE)
With over 1.5% in gains at EOD on July 13th, EOSE is a penny stock that many investors are watching right now. If this gain doesn’t seem like much, in the past five day period, shares have shot up by over 55%, which is no small feat. And during that time, we have covered it on numerous occasions. So, why is EOSE stock moving right now? Well, the company announced on July 6th that it should exceed more than $400 million in orders this year. This comes after it secured over 1Gwh in new orders, which doubles its backlog.
“Over the past six months our opportunity pipeline increased to more than 20GWh, and we are excited to start seeing those opportunities convert into orders. These orders fit perfectly with our ongoing manufacturing capacity expansion which we began late last year. Growing our relationship with customers like Bridgelink demonstrates how our flexible technology allows our customers to serve a variety of use cases.”
The CEO of Eos, Joe Mastangelo
This is very exciting news for the company and shows that it is working hard to grow right now. Considering all of this, will EOSE be on your penny stocks watchlist or not?
TDH Holdings Inc. (NASDAQ: PETZ)
One of the largest gaining penny stocks of the day is PETZ stock. At EOD, shares of PETZ had exploded by over 65%, which is no small feat. And in the past five days, that jumps to over 75%. So, why exactly are shares of PETZ stock shooting up right now? Well, it is tough to say as the company has not released any news recently.
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However, on June 30th, it did announce that it regained compliance with the NASDAQ minimum bid price requirement. This is a big deal for the company and one that has helped to inspire confidence in investors. If you’re not familiar, TDH Holdings is as its ticker symbol implies, a provider of pet food products. These products are sold in Asia, China, Europe and more. With an increased rate of adoption for pets during the pandemic, it’s clear that PETZ could be worth adding to your list of penny stocks to watch.
Apollo Endosurgery Inc. (NASDAQ: APEN)
With over 14% in gains at EOD, APEN is another penny stock that investors are eyeing right now. And in the last month, we’ve seen over 23% in gains for APEN stock, which is no small feat. So, while we do see large gains like this at times, it is always crucial to understand the why. The most recent news from the company came on July 13th when it announced an FDA nod for its obesity endoscopic system.
It stated that its Apollo ESG, ESG Sx, Apollo REVISE, and Apollo REVISE Sx Systems, received marketing authorization via the FDA De Novo Classification. This is a big announcement from the company and one that easily explains its gain during trading today. With these, it can now move forward with the commercialization of these products. So, whether that makes APEN stock worth buying or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks that are worth buying, there are hundreds of options to choose from. As a result of the sheer number of penny stocks out there, investors need to have a full understanding of exactly what is going on in the stock market.
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This means looking at the news and considering how it is going to impact the penny stocks on your list. While we cannot predict the future, we do know that volatility is likely going to remain a constant in the coming weeks and months. With that in mind, which penny stocks are you watching right now?
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