3 Penny Stocks to Add to Your Watchlist Today
With another day of trading penny stocks here, there is a lot for investors to know. As a result of the recent volatility that we’ve witnessed in the stock market, many investors are on their toes right now.
The main factors at play in the stock market include rising inflation and interest rates and the resulting large fluctuations that we are witnessing. While understanding what is going on in the stock market is crucial, knowing how to use it as an advantage for trading penny stocks is where it matters. With all of this in mind, here are three penny stocks to add to your watchlist today.
3 Penny Stocks to Watch Right Now
SaverOne2014 (NASDAQ: SVRE)
One of the larger gainers of the day on Thursday is SVRE stock. At midday, shares of SVRE had shot up by over 5.5%, which is no small feat. And, in the past five day period, we’ve seen SVRE stock shoot up by more than 55%. With this, it is clear that there is a sizable amount of bullish sentiment with SaverOne2014 right now.
To understand this, we have to take a closer look at the company and any recent announcements. Because the company only went public recently, there is not a great deal of information on it. However, it did make an exciting announcement on July 8th. On the 8th, it stated that it has five new agreements with several leading companies. This includes those with Tempo, Novolog, Flex Storage, Bezeq, and Cellcom. All of this shows that SaverOne2014 is working hard to grow right now.
“We continue to build momentum in expanding our customer base. We are very pleased with the recent progress, launching new pilots that significantly expand our addressable markets.
These pilots are a major step towards commercial agreements and we believe that they are also a demonstration of the success of our vertically focused approach. This approach focuses on verticals such as technicians, heavy delivery, hazardous materials and public transportation.”The CEO of SaverOne, Ori Gilboa
With this exciting news in mind, does SVRE belong on your list of penny stocks to buy or not?
Canoo Inc. (NASDAQ: GOEV)
With over 27% in gains at EOD and more than 85% in gains over the past five days, GOEV is another popular penny stock that investors are watching. The most recent news from the company came on July 14th. On the 14th, the company announced that it was awarded a contract by the U.S. Army to supply electric vehicles.
“As an American company based in the heartland, it is an honor to be selected by the U.S. Army. This is another opportunity to prove our proprietary technology – which is customizable and adaptable for multiple use cases and special environments.”The Chairman and CEO of Canoo, Tony Aquila
If you’re not familiar, Canoo is working on a multi-purpose electric vehicles to build out the automotive landscape. This includes its modular range of vehicles which are seeing increased popularity right now. As a result of this, the company has continued to see heightened popularity recently. With this in mind, does GOEV deserve a spot on your penny stocks watchlist?
Clene Inc. (NASDAQ: CLNN)
Clene Inc. is another penny stock that is seeing gains right now. At midday, CLNN stock had shot up by more than 30%. This is a substantial uptick for the company that gives it a five day gain of more than 39%.
While we do see large gains with penny stocks without any news, the company did make an exciting announcement during trading today. On July 14th, it stated that it reports decreased mortality in its RESCUE-ALS long-term open label extension trial.
“We are very pleased to see these results and the apparent survival benefit that our investigational drug, CNM-Au8, appears to provide to people living with ALS. At this point, we are awaiting top-line data from the HEALEY ALS Platform Trial, which focuses on endpoints measuring patient function, survival and breathing over a six-month period in a much larger cohort.”The CEO of Clene, Rob Etherington
Recently, we’ve seen a large amount of upticks with biotech penny stocks. And as a result, CLNN is an interesting company to keep an eye on. This means that CLNN could continue to see heightened attention in the near future. So, whether this makes it worth adding to your buy list or not, is up to you.
Which Penny Stocks Are You Watching?
If you’re looking for penny stocks to buy right now, there are hundreds of options to choose from. But, in order to have the best chance of making money with small caps, investors need to understand exactly what is going on in the stock market.
This means looking at the news, and considering how it may impact the penny stocks on your list. Because penny stocks are so speculative, news will always have a major impact on how they trade. Considering that, which penny stocks are you watching right now?