Buying Penny Stocks on July 18th? Here’s What You Need to Know
With volatility beginning to slow down compared to the past few months, investors are on the edge of their seats with penny stocks. Although we are no where near out of the woods, we have seen things begin to calm slightly as of late.
Now, it is crucial to understand that there are still a large number of factors at play with both penny stocks and blue chips. And as a result, investors need to stay as up to date as possible with what is going on. This means looking at the news and using it as part of your trading strategy. With this in mind, let’s take a look at what you missed on July 15th.
Stock Market Recap, July 15th, 2022
On July 15th, we saw penny stocks and blue chips climb. With the Dow Jones up by over 600 points at EOD, it looks like there is some bullish sentiment in the stock market right now. Of course, we also have to consider that the week is still ending on a low, but, this is definitely good news for investors.
The good news comes despite the potential of a 100 basis point rate hike from the Fed that many are fearing. While this is still on the table, encouraging economic data has helped to strike down these fears to some extent. With this in mind, let’s take a look at what you need to know on July 18th.
What You Need to Know About Buying Penny Stocks on July 18th
As stated earlier, there is going to be more volatility in the near future. While there are no certainties when it comes to trading, we do know that large market fluctuations are on the table. As a result, investors need to do their best to understand exactly what is going on in the stock market and how to use it as an advantage. Considering this, here are three penny stocks to add to your watchlist on July 18th.
3 Penny Stocks to Watch Today
Equinox Gold Corp. (NYSE: EQX)
During after hours on Friday, July 15th, shares of EQX stock managed to shoot up by around 2.3%. While this may not seem like much, it is substantial considering its one month drop of over 25%. Now, although there is no news to cause this gain, we can make a few assumptions.
For one, when there is an economic crisis at play, many investors turn to gold. While EQX is no where near the only gold penny stock in focus right now, it is definitely worth keeping an eye on. With that in mind, will it be on your penny stocks watchlist or not?
Akerna Corp. (NASDAQ: KERN)
With over 50% in losses in the past month, KERN stock has recently seen a small bullish turnaround. Now, before going any further, it is crucial to consider a loss this large. But, to understand whether or not KERN stock has any potential, we have to take a closer look.
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Recently, we have seen a large amount of bullish sentiment with cannabis stocks. And with the company reporting over $255 million in cannabis sales over the fourth of July weekend, there is no shortage of demand. Because marijuana stocks continue to see positivity as of late, KERN could be worth adding to your list of penny stocks to watch.
COMSovereign Holding Corp. (NASDAQ: COMS)
With a 22% drop during trading on July 15th, we saw COMS stock begin to climb during after hours. And after a 40% one week drop, this small bullish sentiment is a much needed turnaround for the company.
One thing to consider is that COMS stock is heavily discussed online. This means that it is trending on a regular basis, especially in the past few days. And with a 4% after-hours uptick and recent news, it’s clear that COMS is making waves right now. Despite its overall bearish momentum in the last few weeks, will COMS be on your buy list this week or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. Although it can be difficult to find the best ones for your watchlist, understanding exactly what is going on in the stock market will help.
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By having a good idea of current events, investors can have a much easier time picking penny stocks to buy. And, with the major amount of volatility that we have continued to witness, having a trading strategy is more important than ever. With this in mind, which penny stocks are you watching right now?