3 Trending Penny Stocks to Add to Your Watchlist Right Now
For many people, the answer to whether penny stocks are worth investing in or not is tricky. The stock market is currently in a state of flux, with prices fluctuating rapidly and unpredictably. Many experts believe that we are on the verge of another recession, and that investing in stocks right now is not the best.
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However, with penny stocks showing a major amount of volatility, there is a lot of movement to take advantage of. As a result, understanding what is going on in the stock market, will help to you to know which penny stocks are worth buying or not. With this considered, let’s take a look at what you missed in the stock market on September 9th.
What You Missed in the Stock Market on September 9th
On September 9th, penny stocks and blue chips rallied to end the day. This is the first positive day in quite some time, which is an exciting update. The gains come as most of August resulted in a major sell-off.
This occurred due to large inflation, economic slowdown signs in Europe and China, and notes from Fed. Chair Jerome Powell. With all of this, we’ve seen a major amount of volatility in the stock market in the past few weeks and months. And as a result, it is a great time to find penny stocks to buy. With this in mind, here are 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)
- Geovax Labs Inc. (NASDAQ: GOVX)
- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the biggest movers on Friday, September 9th was AVCT. AVCT stock managed to shoot up by over 30% with another 1% in after hours trading respectively. This is a major gain for the company and comes after a YTD drop of over 90%.
The most recent news from the company came a few weeks ago when it announced a board and management change alongside a review of strategic alternatives. This was a big deal when it came out, and resulted in some sizable stock movement. Since then however, not much has come out of the company in terms of news. So, does this make AVCT stock worth adding to your list of penny stocks to buy or not?
Geovax Labs Inc. (NASDAQ: GOVX)
Another major mover on Friday was GOVX stock. At EOD on Friday, shares of GOVX had shot up by over 50%, which is no small feat. After a 58% drop YTD, GOVX stock has begun to see a sizable amount of bullish movement. The most recent news from Geovax came a week or so ago. It stated that it would be providing updates on the Phase 2 clinical trials of its Covid-19 vaccine.
In addition, it would be building out its Phase 1/2 clinical trial for advanced head and neck cancer with its compound, Gedeptin. Although there is no concrete news, more data should come out via a presentation at the H.C. Wainwright 24th Annual Global Investment Conference on Monday, September 12th. Considering that, will GOVX be on your penny stocks watchlist today?
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)
With over 20% in gains on Friday, September 9th, FFIE is another trending penny stock that investors are keeping an eye on right now. To understand why, we have to take a closer look at the most recent news for FFIE stock.
On Friday, Faraday Future climbed due to social media and retail trading hype. This comes as the investors found that the company could be at risk of bankruptcy in the near future. So, this is a definite risk for traders to consider, however, the retail trading momentum is worth considering as well. With all of this in mind, does FFIE deserve a spot on your list of penny stocks to buy today?
Are Penny Stocks Worth Buying Right Now or Not?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. As a result, it can be tricky to know which penny stocks are worth investing in and which ones aren’t. There are a few things you should keep in mind when trying to decide if a stock is worth investing in.
One thing to understand is to consider the company’s financial stability. This can be determined by looking at factors such as their earnings, cash flow, and debt. Another aspect is to understand what is going on in the stock market as it pertains to specific companies. With this in mind, do you think penny stocks are worth buying or not?