Buying Penny Stocks on July 25th? Here’s What You Need to Know
There’s no doubt that the stock market and penny stocks are volatile right now. But there are still opportunities for those who are willing to take a risk. While trading penny stocks is not easy, it can be profitable if you know what you’re doing.
One thing to keep in mind is that doing your research is especially important with penny stocks. Make sure you understand the company and where the stock market is before investing. This is a crucial step that many investors forget, and it can be a costly mistake. With that in mind, let’s take a look at what you may have missed in the stock market on July 22nd.
Stock Market Recap, July 22nd, 2022
On July 22nd, both penny stocks and blue chips ended the week on a lower note. Despite major bullish sentiment earlier in the week, we saw the NASDAQ drop by around 1.9% with the S&P 500 and Dow losing 0.9% and 0.4% respectively.
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While this is not a great sign for the short term, many investors are slightly bullish in terms of a market outlook. Now, we do have some signs of a recession, but, stocks have shown a decent amount of resiliency as of late. So, keeping this in mind, let’s take a look at what you need to know about trading penny stocks on July 25th.
What You Need to Know About Buying Penny Stocks on July 25th
As stated earlier, the most worrisome factor on investors minds right now is volatility. And, this coincides greatly with rising inflation, climbing interest rates, jobs reports, and upcoming earnings announcements. All of these should be heavily accounted for when considering whether or not you’re buying penny stocks.
While we are seeing some days of strong bullish sentiment, there continues to be major fluctuations across the board. With all of that considered, here are three penny stocks that could be worth adding to your watchlist today.
3 Penny Stocks to Watch Today
- Akerna Corp. (NASDAQ: KERN)
- Romeo Power Inc. (NYSE: RMO)
- AMTD IDEA Group (NYSE: AMTD)
Akerna Corp. (NASDAQ: KERN)
Despite losing 9% during trading, shares of KERN stock managed to shoot up by over 9% in after hours. In the past one month and six months, KERN stock has shot down by over 55% and more than 89% respectively. These losses are not encouraging, but, there is some positive data to look at for KERN stock.
On July 4th weekend, the company reported $255 million in sales. Recently, we’ve seen marijuana stocks begin to climb again, with Akerna being one. While it is hard to say why or whether this bullish sentiment will last, there’s no doubting that KERN stock could be worth adding to your list of penny stocks to watch.
Romeo Power Inc. (NYSE: RMO)
While RMO stock fell by around 7% during trading on Friday, July 22nd, it managed to climb by over 6.2% in after hours. Although this is not fully encouraging, it is better than its six month drop of over 75%.
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The most recent news from the company came on July 19th when it announced that its MATLAB Simulink-based Electro-Thermal Black Box (ETBB) Model for OEM Customers. This is a big deal for the company, and as a provider of battery electric products, the company is seeing a decent amount of popularity as of late. Because of that, it could be an interesting addition to your penny stocks watchlist.
AMTD IDEA Group (NYSE: AMTD)
One of the most popular penny stocks of the past few days is AMTD stock. On July 22nd, shares of AMTD exploded by over 103% during trading and more than 7.5% in after hours trading. The main reason for this comes as the company recently began trading on the NYSE. Following its IPO, the company managed to raise roughly $124 million.
This was a big deal for it, and has helped to bring a lot of attention to the company. One thing to keep in mind is that AMTD stock is highly volatile. But, if that is something you’re interested in, it could be a worthwhile addition to your buy list for this coming week.
Which Penny Stocks Are You Watching Right Now?
Whether penny stocks are worth investing in is a highly debated topic. Some people believe that penny stocks are only good for short term trades, while others believe that they offer a high potential for returns as a whole.
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There are pros and cons to investing in penny stocks, and it ultimately comes down to the individual investor’s risk tolerance and investment goals. As a result, understanding your own investment goal is crucial before deciding whether penny stocks are right for you. With that in mind, which penny stocks are you watching right now?
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