3 Hot Penny Stocks to Add to Your Watchlist Right Now
Investing in penny stocks is not easy. But, with the stock market showing extreme volatility right now, there is a lot that investors need to know. For starters, right now is an easy time to lose money if you’re not careful. With the stock market showing major bearish momentum, many stocks are worth less than they were just a few weeks ago. So, if you’re thinking about investing in penny stocks, now is not the time to do it.
Penny stocks are notoriously volatile and risky. So, if you’re thinking about investing in penny stocks, you need to be prepared for the possibility of losing all of your investments by utilizing a trading strategy. With this in mind, let’s take a look at what you missed in the stock market on August 29th.
What You Missed in the Stock Market on August 29th
On August 29th, we saw another less than stellar day of trading in the stock market. On Monday, stocks dropped during intraday trading. This comes after Fed Chair Jerome Powell added hawkish comments during the Jackson Hold central bank meeting last week.
On the 29th, the S&P 500 and Dow Jones dropped by 0.7% and 180 points respectively. While this is not nearly as much as we saw the market drop on Friday, it is still a day ending in the red. With this, many investors are cautious about the future. Considering that, let’s take a look at what you need to know about trading penny stocks on August 30th.
What to Know About Trading Penny Stocks on August 30th
With another day of trading, there is a lot for investors to know right now. This week, we have some earnings report as the latest season comes to an end. But, what investors should focus on right now is understanding how to profit from the latest bout of volatility.
While it is not easy to invest in penny stocks, there are plenty of ways to make money doing so. And, with many stocks trading at low levels after the recent bearish moves, there are a large number of penny stocks to watch. With this, here’s three penny stocks to add to your watchlist right now.
3 Penny Stocks to Watch Right Now
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- Blue Water Vaccines Inc. (NASDAQ: BWV)
- Obseva SA (NASDAQ: OBSV)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the largest gainers of the day and that we’ve seen in quite some time is AVCT stock. During trading, AVCT stock managed to shoot up by over 150%. And, during after hours, AVCT stock shot up by another 24%.
With a six month drop of more than 50%, it’s clear that this advancement is a welcomed one for investors. Now, it’s difficult to say why AVCT stock is climbing right now, but, we have seen it move in the past purely due to speculation. So, it’s clear that this could be the main reason behind its uptick on August 29th. With this in mind, is AVCT stock worth adding to your list of penny stocks to buy or not?
Blue Water Vaccines Inc. (NASDAQ: BWV)
Another major gainer on August 29th was BWV stock. On August 29th, BWV stock climbed by over 5% during trading and another 10% in after hours respectively. To understand whether BWV stock is worth buying or not, we have to take a closer look at its recent advancements.
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The most recent announcement from the company came a few days ago when it announced that it would present at the Universal Influenza Vaccines 2022 Conference. Since then, the company has not had any releases, however, it does work on Monkeypox vaccines. Whether this makes BWV worth buying or not, is up to you.
Obseva SA (NASDAQ: OBSV)
On August 29th, shares of OBSV stock managed to climb by more than 6.5%. In the past six months, shares of OBSV stock have fallen by over 84%. Around a week ago, the company received notice of non-compliance.
Aside from this, it announced the filing of its second quarter 2022 financial statements. Since then, not much has come out of the company in terms of news. While OBSV is highly volatile, it could be worth adding to your penny stocks watchlist today.
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to choose from, it can be tough to know where to invest your money. But if you’re looking for stocks that have the potential to make a profit, penny stocks are worth considering.
Penny stocks are stocks that trade for less than $5 per share. As a result, they are subject to a sizable amount of volatility. In 2022, there are plenty of factors that are causing movement in the stock market. With that, there are also a myriad of ways to profit as long as you have a strategy. Considering this, which penny stocks are you watching right now?