3 Penny Stocks to Add to Your Watchlist
If you’re looking for the best penny stocks to buy, now is a great time to make a watchlist. In the past year or so, we’ve seen an increased amount of volatility across the board. This means that the potential for large swings in both directions is palpable.
[Read More] Buying Penny Stocks in August? 3 Things to Know
Now, keep in mind that this also means that the potential for losses is quite large if you don’t know what you’re doing. So, the best way to have a heightened chance of profitability with penny stocks is to know what is going on in the stock market and what your strategy is. Considering that, let’s take a look at what happened with penny stocks on August 12th.
Stock Market Recap, August 12th
On August 12th, the stock market pulled in some big wins, marking the longest winning streak since the end of 2021. Now, keep in mind that we are still going to see high volatility moving forward, however, this is a big win for investors.
On August 12th, tech stocks pulled in a majority of the gains with the NASDAQ climbing by around 2.1% followed by a 1.7% gain with the S&P 500. So, keep in mind that there is gaining potential in the stock market right now, but you need to know where and how to find it. With this in mind, here’s what you need to know about trading penny stocks on August 15th.
What You Need to Know About Buying Penny Stocks on August 15th
As stated earlier, it is impossible to predict what may happen in the stock market in the next few days and weeks. But, by understanding what is at play, investors can have a much better idea of how to make money with penny stocks.
While we can’t predict the future, we do know that volatility is likely to continue. So, keep your trading strategy on hand, and make sure that it aligns with what is going on in the stock market. With this all considered, here are three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- Unity Biotechnology Inc. (NASDAQ: UBX)
- Gingko Bioworks Holdings Inc. (NYSE: DNA)
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
Unity Biotechnology Inc. (NASDAQ: UBX)
One of the larger gainers on August 12th was UBX stock. At EOD, shares of UBX had shot up by a staggering 54% to more than $1.31 per share. And in the past month, UBX stock has climbed by more than 100% which is no small feat.
The main reason for this comes as the company announced positive data regarding its drug that is used in the treatment of Diabetic Macular Edema. In its Phase 2 BEHOLD study of UBX1325, the drug showed potential in treating this diabetes associated vision loss. As a result, shares of UBX stock have continued to see positive momentum. With that in mind, will it be on your penny stocks watchlist or not?
Gingko Bioworks Holdings Inc. (NYSE: DNA)
During trading and after hours on August 12th, DNA stock shot up by our 6.5% and more than 2.2% respectively. And in the past one month period, DNA stock has climbed by over 20%, which shows that there is sizable bullish interest in the company.
Similarly to UBX, Gingko announced an exciting update regarding one of its drugs. The company stated that it is teaming up with Synlogic to develop a drug used for gout. This caused the movement on Friday, which was quite substantial. So, whether this makes DNA stock a worthwhile addition to your list of penny stocks to buy, is up to you.
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
Another large gainer from the end of last week was AVCT stock. At EOD on August 12th, shares of AVCT stock managed to shoot up by over 24%. This big gain is part of a larger, five day uptick of over 35%.
While there is no recent news for AVCT, it is often referred to as a popular and trending penny stock. This means that it can move based on little to no news whatsoever. Now, this is not an overwhelmingly encouraging sign for those looking for a stable penny stock to buy. However, if you’re looking for volatility, AVCT stock could be worth keeping an eye on.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, there are a few things you should know first. For starters, investing in penny stocks is all about understanding what is going on in the stock market.
You need to be able to read stock charts and have a general idea of how penny stocks work before you start investing. There are a lot of risks involved with penny stocks. They are often highly volatile and can fluctuate rapidly in price. So, keep all of this in mind and make sure that you have a well thought-out trading strategy.