Buying Penny Stocks on July 22nd? Here’s What You Need to Know
After another positive day of trading penny stocks and blue chips, investors are enthused about the future. To understand how to make money with penny stocks, investors need to have a full understanding of what is going on in the stock market.
This means looking at the news and considering exactly how to take advantage of movement. Right now, we are seeing a large amount of volatility. So, with all of that in mind, let’s take a look at what you may have missed in the stock market on July 21st, 2022.
Stock Market Recap, July 21st, 2022
On July 21st, the stock market saw a decent amount of bullish movement. During the trading day, tech stocks saw the majority of movement with leaders pushing up substantially.
This includes Tesla Inc. (NASDAQ: TSLA), which managed to climb by more than 9.5% during EOD. So, while there is no guarantee right now, there is a lot to understand for investors. Keeping all of that in mind, here’s what you need to know about buying penny stocks on July 22nd.
What You Need to Know About Buying Penny Stocks on July 22nd
Right now, we have several factors at play that are causing stock market movement. This includes unemployment numbers, inflation, rising interest rates and much more. As a result, we have seen an incredible amount of volatility in the stock market in the past few months.
So, to avoid losing money with penny stocks, investors need to have a well-thought-out trading strategy on hand. This should be able to account for shifting trends and future market movement. Considering that, here are three penny stocks to add to your watchlist today.
3 Penny Stocks to Watch Today
- Color Star Technology Co. Ltd. (NASDAQ: CSCW)
- Sonder Holdings Inc. (NASDAQ: SOND)
- NLS Pharmaceuticals (NASDAQ: NLSP)
Color Star Technology Co. Ltd. (NASDAQ: CSCW)
One of the larger gainers on July 21st during trading and into after hours is CSCW stock. In those periods, shares of CSCW stock shot up by over 3.4% and more than 7.5%. This gives it a five day gain of over 14% which is encouraging considering its one year drop of over 84%.
The most recent news from the company came a few weeks ago when the company announced that it was organizing a youth training camp in the U.S. While this itself is not enough to make CSCW climb, it could be worth considering. With that in mind, will CSCW be on your penny stocks watchlist?
Sonder Holdings Inc. (NASDAQ: SOND)
Despite falling by 11% during trading, SOND stock managed to shoot up by over 4.9% in after hours. This is a sizable gain for the company that comes after a six month drop of over 85%. So, why are shares of SOND stock climbing right now and is it worth looking into?
The most recent news from the company came a few weeks ago when it presented at the NASDAQ 46th Investor Conference in London. Aside from this however, the company has not released any news in the past few weeks. With that, we see that SOND is showing a heightened amount of volatility. But regardless, it could be worth adding to your list of penny stocks to watch.
NLS Pharmaceuticals (NASDAQ: NLSP)
NLSP is a penny stock that we have covered multiple times in the past few months. And despite falling by 30% on July 21st, shares of NLSP stock managed to push up by over 6.5% in after hours trading.
The over 30% drop that it saw today comes after a trend of recent bullishness for NLS. And, the most recent news from the company came on July 21st when it announced a positive opinion from European regulators regarding its orphan drug designation for Mazindol ER. This is a big deal for the company, although, it is not a be all end all. Considering that, do you think NLSP is a buy today or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, because there are so many to choose from, it can be difficult to find penny stocks that match up with your trading strategy.
As a result, investors need to make sure that they fully understand exactly what’s going on in the stock market. Considering all of this, which penny stocks are you watching right now?