3 Hot Penny Stocks to Watch After Labor Day Weekend
If you’re thinking about investing in penny stocks in 2022, now is a great time to get started. Often, penny stocks are overlooked by investors as they’re considered to be riskier and more volatile than blue chip stocks. However, penny stocks can offer great returns if you know how to pick them correctly.
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As a result, it takes a firm understanding of what is going on in the stock market in order to profit with small caps. Recently, we’ve seen an incredible amount of movement across the board. And this has been cause for concern for some investors. But, with so much going on, there is also plenty of opportunities to profit with small caps. With that in mind, let’s take a look at what you missed in the stock market on September 2nd.
What You Missed in the Stock Market on September 2nd
On September 2nd, the stock market saw another very volatile day of trading. At EOD, the Dow and S&P 500 had finished much lower with both down by around 4% and 5% respectively since last week. The bulk of this comes amidst hawkish comments from Fed. Chair Jerome Powell a week ago which have continued to result in negative market movement.
And with the latest labor data showing 315,000 jobs were added in August, many believe that the Fed could continue to push forward on its inflation reduction plans. So, keeping all of this in mind, it is more crucial than ever to understand what’s going on in the stock market. With that considered, here’s what to watch with penny stocks on September 6th.
What to Watch With Penny Stocks on September 6th
As we all know, there is a very large amount of volatility in the stock market right now. As a result of this, it is more important than ever to both know what is going on with penny stocks, and to have a trading strategy. The two of these will help infinitely when it comes to making money with small caps in September 2022. With this in mind, let’s take a close look at three penny stocks that investors are watching right now.
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- Newage Inc. (NASDAQ: NBEV)
- PaxMedica Inc. (NASDAQ: PXMD)
- United Maritime Corp. (NASDAQ: USEA)
Newage Inc. (NASDAQ: NBEV)
One of the largest gainers of the day on Friday was NBEV stock. During trading and into after hours, shares of NBEV stock shot up by over 20% and more than 21% respectively. This massive gain comes after a six month drop of more than 74%.
As a result, it is an encouraging sign for investors to consider. The most recent news from the company came as it announced it would continue its ‘normal course’ operations after approval for its Chapter 11 restructuring. With this in mind, do you think NBEV stock is worth adding to your list of penny stocks to buy or not?
PaxMedica Inc. (NASDAQ: PXMD)
Another penny stock that exploded on Friday, September 2nd was PXMD stock. On Friday, shares of PXMD stock managed to push up by more than 45%. While we do see gains like this with penny stocks, it doesn’t happen everyday. And as a result, this could be an interesting point to consider. Recently, we’ve begun to see some bullish movement with PXMD stock.
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And, this comes only a few weeks after it announced the pricing of its IPO. As a result, it’s clear that PXMD stock is seeing a heightened amount of popularity right now. Whether this makes it a worthwhile addition to your penny stocks watchlist or not is up to you.
United Maritime Corp. (NASDAQ: USEA)
With over 17% in gains on Friday, USEA could be an interesting penny stock to watch right now. The main recent news from the company came on September 2nd.
On the 2nd, it announced plans for a $3 million share buyback program. With that, it should be able to see its shares be less diluted moving forward. While this does not in any way make USEA a buy on its own, it is definitely an interesting piece of news to consider.
Which Penny Stocks Are on Your Watchlist Right Now?
With so much movement in the stock market right now, investing in penny stocks is not easy. But, if done correctly, it can be profitable. There are a few things to keep in mind when considering penny stocks.
First, always do your research. There is a great deal of volatility out there, so you need to know what you’re buying. Second, don’t invest more than you can afford to lose. Penny stocks are notoriously volatile, so it’s important to only invest what you’re comfortable losing.
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Third, have a plan. Decide what you’re looking to achieve with your penny stocks before you buy them. Are you hoping to make a quick profit? Or are you looking to hold onto them for the long term? Knowing your goals will help you make better investment decisions. With all of this in mind, which penny stocks are on your watchlist right now?
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