3 Penny Stocks to Add to Your Watchlist Right Now
While finding the best penny stocks to buy can be tricky, there are plenty of ways to do just that. In 2022, the stock market has continued to move significantly in both directions, resulting in major gains for some and major losses for others. As a result, it is crucial to consider not only what is going on in the world, but what could go on in the coming days and months.
In addition, having a well thought out trading strategy is crucial. While there is no one sizes fits all method for buying and selling penny stocks, there are some surefire ways to help you succeed. Considering this, let’s take a look at what you missed in the stock market on September 8th, 2022.
What You Missed in the Stock Market on September 8th
On September 8th, stocks managed to end higher following weeks of bearish trading. At EOD, the S&P 500 and Dow Jones had climbed by around 0.7% and 0.6% respectively. While these are not major days, ending in the green is an encouraging sign for investors to consider. The latest news comes as Fed Chair Jerome Powell spoke at the Cato Institute’s 40th Annual Monetary Conference.
Powell stated that the Fed is continuing to fight inflation, however, it may be able to do so without the social causes of monetary tightening. While this is reassuring, it is not a sign that we are back in bullish territory. But rather, it is a positive note for investors to consider. This is especially true considering where we have been in the past few months. With this in mind, let’s take a look at three penny stocks to add to your watchlist on Friday, September 9th.
3 Penny Stocks to Add to Your Watchlist on Friday
- Rubius Therapeutics Inc. (NASDAQ: RUBY)
- Vistagen Therapeutics Inc. (NASDAQ: VTGN)
- Imara Inc. (NASDAQ: IMRA)
Rubius Therapeutics Inc. (NASDAQ: RUBY)
One of the more interesting gainers on Thursday, September 8th was RUBY stock. At EOD and into after hours, shares of RUBY stock had shot up by over 48% and more than 3.5% respectively. And, in the past five days, shares of RUBY stock have shot up by over 84%, which is no small feat.
The most recent news from the company came when it announced its Q2 2022 financial results and a business update. Since then, shares have continued to climb. Although this was a month ago, it looks like RUBY stock is still seeing increased popularity in the stock market. Whether this makes it worth adding to your list of penny stocks to buy, is up to you.
Vistagen Therapeutics Inc. (NASDAQ: VTGN)
With over 18% in gains on September 8th, VTGN is another penny stock to keep an eye on right now. While we do see gains like this with little to no news behind it, the company made an exciting announcement on September 8th. It stated that it has completed the interim analysis of PALISADE-2.
This is its second Phase 3 trial that is assessing its drug candidate, PH94B. While this is just a step on the path to commercializing this compound, it is an exciting update for investors to consider. It states that it expects topline results from this in the first half of next year. Whether this is enough to add VTGN to your penny stocks watchlist or not remains dependent on your trading strategy.
Imara Inc. (NASDAQ: IMRA)
With 6% in gains during trading and another 2% in after hours respectively, IMRA is a popular penny stock to watch. In the past five days, IMRA stock has climbed by a staggering 84%. And in that time, we have discussed it on numerous occasions.
The recent news for the company came when it announced the sale of its sickle cell drug candidate a day or so ago. This is the reason that shares of IMRA are exploding right now, and continues to be a major reason to take a first or second look at the company. Considering that, do you think IMRA stock is a buy right now or not?
Are These Penny Stocks Worth Buying Right Now?
With so many penny stocks to choose from in 2022, finding the best ones for your list can seem complicated. But, with the right research on hand and a dedication to understanding what is at play in the stock market, it can be much easier than previously imagined.
If we consider that there is also a great deal of volatility in the stock market right now, we see that there is an opportunity to profit for those with the right strategy. So, with this in mind, which penny stocks are on your watchlist right now?