3 Popular Penny Stocks to Add to Your Watchlist Right Now
There are a number of reasons why finding popular penny stocks is important when it comes to making money in the stock market. For one, penny stocks that are popular tend to have more movement and therefore more liquidity than others. This means that investors are more likely to see intraday spikes (or drops), which is a desired trait for investors.
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Secondly, stocks that are popular tend to have more news coverage than others. This means that there will be more information available on these stocks, making it easier for investors to make informed decisions.
Finally, stocks that are popular tend to be followed by more analysts than others. This again provides investors with more information and analysis, both of which are critical in making informed decisions about investing in penny stocks. So, with this in mind, let’s take a look at what you missed in the stock market on September 7th, 2022.
What You Missed With Penny Stocks on September 7th
On September 7th, we saw both penny stocks and blue chips push up during trading. This comes as the Dow, S&P 500, and NASDAQ climbed by 1.2%, 1.4%, and 1.6% respectively. And after the recent bearish trading, this is a positive sign for traders to consider.
The main reason for this comes as investors are slightly more bullish right now. This comes despite hawkish comments from the Fed regarding inflation and potential interest rate hikes in the future. So, with this in mind, let’s take a look at three penny stocks that could be worth adding to your watchlist during trading today.
3 Penny Stocks to Watch Right Now
- Imara Inc. (NASDAQ: IMRA)
- Spero Therapeutics Inc. (NASDAQ: SPRO)
- Mullen Automotive Inc. (NASDAQ: MULN)
Imara Inc. (NASDAQ: IMRA)
One of the largest gainers on September 7th was IMRA stock. At EOD, shares of IMRA stock had shot up by more than 70%, which is no small feat. This is a major gain for the company that gives it a six month uptick of over 30%.
So, why are shares of IMRA stock climbing right now? The main news comes as the company announced the offloading of its sickle cell drug candidate to Cardurion Pharmaceuticals Inc. This will come with $250,000 that has already been paid as well as an upfront payment of $34.75 million and $60 million in milestone payments. With this major update, does IMRA belong on your list of penny stocks to buy or not?
Spero Therapeutics Inc. (NASDAQ: SPRO)
Another major gainer on September 7th was SPRO stock. By EOD, we saw shares of SPRO stock shoot up by over 25%. It’s worth considering that we have covered SPRO multiple times recently. And in the past five day period, shares have shot up by over 59%. This is a great indicator of the company’s popularity in the stock market right now.
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While we do see gains like this with little to no news behind it, the company made an exciting announcement only a day ago. It stated that it received positive FDA feedback regarding its Tebipenem HBr drug program. Anytime we hear FDA news, it is an exciting time for investors. So, considering this big move, do you think SPRO deserves a spot on your penny stocks watchlist or not?
Mullen Automotive Inc. (NASDAQ: MULN)
If you read our content regularly, you’re likely familiar with Mullen Automotive by now. If not, it is an EV penny stock that has continued to make headway in the past few months. With major volume and a 1.2% gain on September 7th, MULN is on many investors minds.
In the past few months, we’ve seen MULN pop up on numerous occasions due to its popularity and trending nature. And while this has lead to some extreme volatility, it has also resulted in the potential to profit with MULN stock for some. So, while it’s tough to say if MULN is worth buying or not, it’s clear that it is popular in September 2022.
Which Penny Stocks Are You Watching Today?
There are a lot of moving parts in the stock market, and it can be tough to keep track of everything that’s going on. However, if you’re serious about making money with penny stocks, it’s important to understand what’s going on in the stock market. By keeping tabs on the market, you’ll be able to make better-informed decisions about which penny stocks to buy and sell.
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In addition, understanding the stock market can help you spot potential opportunities for making a profit. In 2022, there is a lot going on with both penny stocks and blue chips. And as a result, the trader with the most information on hand, will undoubtedly be at an advantage. With this in mind, which penny stocks are on your watchlist for today?
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