3 Penny Stocks to Add to Your Watchlist Right Now
With so many penny stocks to choose from, it can be difficult to understand which ones are worth buying. Right now, there is a lot going on in the stock market with both penny stocks and blue chips.
And because of this, knowing what is going on in the stock market and how to take advantage, are both crucial steps in profiting. Right now, there are a lot of factors at play that investors need to consider. With this in mind, let’s take a look at what happened in the stock market on September 6th.
What Happened With Penny Stocks on September 6th?
On September 6th, penny stocks and blue chips both reported losses during trading. Specifically, we saw the Dow, S&P 500, and NASDAQ fall by around 170 points, 0.4% and 0.7% respectively. This brings the NASDAQ to its first seven-day losing streak since 2016, which is quite substantial.
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The movement in the stock market comes as the 10-year U.S. Treasury bond yield increased to the highest level since June. With all of this, we see that it is difficult to tell what will happen in the coming days and weeks. Considering that, here’s what you need to know about trading penny stocks on September 7th.
What to Know About Trading Penny Stocks on September 7th
As stated earlier, right now, there is a major amount of volatility in the stock market. And recently, the majority of movement that we have witnessed has been bearish. As a result of this, it is crucial to have a firm understanding of what is at play and how to take advantage.
One of the largest factors to consider is any announcement from the Fed. This will undoubtedly shift the course of the stock market for better or worse. Considering all of this, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- HyreCar Inc. (NASDAQ: HYRE)
- Spero Therapeutics Inc. (NASDAQ: SPRO)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
With over 4% in gains on Tuesday, September 6th, AVCT was one of the highest volume movers of the day. This comes after shares of AVCT stock have shot up by more than 29% in the past month period. The most recent news from the company came a few weeks ago when it announced board and management changes as well as a review of some strategic alternatives.
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This resulted in a major spike in its price at the end of August. Since then, shares have begun to find an equilibrium. So, with this high volatility in mind, do you think AVCT is worth adding to your list of penny stocks to buy or not?
HyreCar Inc. (NASDAQ: HYRE)
One of the largest gainers on September 6th was HYRE stock. At EOD, shares of HYRE had exploded by more than 55% to over $1.27 per share. This is a staggering gain and comes amidst some exciting news from the company.
Today, it announced that it would receive a $100 million revolving line of credit from a large global investment bank as well as Medalist Partners. This should allow the company to see some significant growth in its fleet which is a major positive for investors to consider. Whether this makes it a worthwhile addition to your penny stocks watchlist, is up to you.
Spero Therapeutics Inc. (NASDAQ: SPRO)
Another major gainer on Tuesday was SPRO stock. With over 55% in gains during trading and more than 4% in gains in after hours respectively, many investors are watching SPRO stock right now. And with a six month drop of over 85%, it’s clear that this gain is a welcomed one.
The main news for the company comes as the FDA cleared a regulatory path for its UTI candidate. This is known as Tebipenem HBr, and could be a game changer for Spero’s future. With this in mind, do you think that SPRO stock is a buy today or not?
Which Penny Stocks Are You Watching Right Now?
When it comes to finding the best penny stocks to buy, it can be a challenge. With so much going on in the world right now, investing in stocks is not easy. But, if you’re willing to put in the work, it can be done.
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As stated earlier, the most important factor for investing in penny stocks is what is going on in the stock market and how to take advantage. Although it may seem simple, it is an overlooked research point that investors need to understand. With this in mind, which penny stocks are you watching right now?
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