3 Popular Penny Stocks To Watch Right Now
Finding popular penny stocks in 2022 is not easy. But, by utilizing news and paying attention to how stocks are trading, you can find some of the best penny stocks to buy in 2022. Recently, we’ve begun to see a new round of bullish interest in penny stocks and blue chips.
While this doesn’t mean volatility is not at play, it is encouraging after months of bearish movement. As a result, now is the time to start paying attention to penny stocks and which ones are moving. With this in mind, let’s take a look at what happened in the stock market on August 10th and how to take advantage.
Stock Market Recap, August 10th
On August 10th, we saw penny stocks and blue chips climb significantly. This comes as the NASDAQ officially ends the worst bear market in over a decade. The ending comes as the NASDAQ is up by 20% from its recent low. In other news, we saw that a key inflation report showed that inflation is slowing.
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The news comes as a surprise with investors expecting the opposite. As a result of this, the Dow climbed by 1.6% with the S&P 500 pushing up by 2.1%. This is all very exciting news and shows that there is a lot to potentially look forward to in the future. Considering that, here’s what you need to know about buying penny stocks on August 11th.
What You Need to Know About Buying Penny Stocks on August 11th
As stated before, there is a lot of volatility in the stock market right now. And while we don’t know what will happen in the coming weeks or months, we do know that it is likely that large fluctuations in the stock market will continue to occur. So, make sure to keep this in mind and utilize it as part of your trading strategy. Considering that, here are three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch Right Now
- Invitae Corp. (NYSE: NVTA)
- T2 Biosystems Inc. (NASDAQ: TTOO)
- Helbiz Inc. (NASDAQ: HLBZ)
Invitae Corp. (NYSE: NVTA)
On August 10th, shares of NVTA stock exploded by over 275% at EOD. This is an incredible gain that brought NVTA stock from under $3 per share to over $8 as of market close. So, why exactly is NVTA stock climbing right now? Well, the short answer is that the company reported staggering numbers in its Q2 financials.
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In the report, it posted a 17% gain in Q2 revenue YoY which beats investor expectations. And, it stated that it will continue to grow in the coming months, which is encouraging. While it is hard to justify this major gain, it is clear that NVTA is a popular penny stock right now. Whether this makes it worth adding to your penny stocks watchlist however, is up to you.
T2 Biosystems Inc. (NASDAQ: TTOO)
Another large gainer from August 10th and a penny stock that we have discussed numerous times is TTOO stock. On Wednesday, shares of TTOO stock shot up by more than 30% during trading and over 34% in after hours. This brings it to over $0.21 per share which is exciting.
The main reason for its recent upticks come as the company announced its exploration into developing a rapid test for diagnosing Monkeypox infections. As we’ve seen, anything having to do with Monkeypox has been big news in the past few months. And, this is no different. While TTOO stock is highly volatile right now, there is a lot of popularity behind it that is justified. Considering that, does it belong on your list of penny stocks to buy or not?
Helbiz Inc. (NASDAQ: HLBZ)
HLBZ is a penny stock that we have covered a few times in the past couple of months. And on August 10th, during trading and into after hours, HLBZ stock shot up by over 2.5% and more than 6.5% respectively. The most recent news from the company came as it announced an agreement with Italian National Television Rai to broadcast highlights from the Italian Serie BKT Championship Worldwide.
This is a big deal for the company and should bring in a sizable amount of viewers. While it is tough to say what the long term value of this will be, it’s clear that this is an exciting prospect right now. So, whether that makes HLBZ stock worth buying or not is up to you?
Which Penny Stocks Are You Watching Today?
While investing in penny stocks is not easy, and can often be considered a high-risk investment, there are definitely some opportunities for profit. In 2022, we continue to see a sizable amount of movement across the board.
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And because of that, now is the time to find the best penny stocks to buy for you. As always, investing is a very individual task that should be treated as such. So, always have a well-thought out trading strategy on hand that can evolve based on what is going on in the stock market. With this in mind, which penny stocks are on your watchlist right now?
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