3 Penny Stocks to Add to Your Watchlist in Mid-September 2022
With so many penny stocks to choose from right now, it can seem like a daunting task to find the best ones for your watchlist. But, because there is so much movement in the stock market, there are also plenty of opportunities to find penny stocks that are worth buying. In 2022, we have seen a major amount of volatility across the board.
And while this may inspire fear for some, for others, it presents the potential to profit despite the movement that occurs on a given day. Now, to avoid losing money with penny stocks, it is crucial to have two things; a trading strategy, and an understanding of what is going on in the stock market. The combination of these will give you the best chance of profiting with small caps. Considering that, let’s take a look at what happened in the stock market on September 14th.
What Happened With Penny Stocks on September 14th?
On September 14th, penny stocks and blue chips ended higher. By EOD, the S&P 500 and Dow Jones had climbed by around 13 points and 30 points respectively. This comes only a day after the former dropped by nearly 4.3%, nothing its largest loss since June of 2020. As a result, investors are investing with an extreme amount of caution right now.
And, with the upcoming Fed meeting expected to see interest rates rise by another 0.75% points, this market insecurity could continue for some time. So, keep that in mind when we look at what could happen with penny stocks and blue chips in the coming days, weeks, and months. Considering that, here are three penny stocks that could be worth watching right now.
3 Penny Stocks to Watch Right Now
Akerna Corp. (NASDAQ: KERN)
One of the larger gainers of the day on September 14th was KERN stock. At EOD, shares of KERN had shot up by more than 26% to over $0.16. While this is not uncommon for KERN stock, it is encouraging. And, in the past five day period, shares of KERN stock have exploded by more than 55%, which is no small feat.
So, why the big gain for KERN stock recently? Well, the main reason comes as the company recently reported encouraging numbers in its Q2 2022 results. It announced a 33% YoY gain in its software revenue with total revenue up by 24% in the same period. These are exciting, despite not being as much as estimates had hoped. So, with all of this in mind, do you think KERN stock is worth adding to your list of penny stocks to buy or not?
Scisparc Ltd. (NASDAQ: SPRC)
Another major gainer on September 14th was SPRC stock. By EOD and into after hours, shares of SPRC stock had shot up by over 23% and more than 1.5% respectively. This is a sizable gain for the company that gives it a five day uptick of over 35%. So, is there a major reason behind this move, or is it purely speculative?
Well, the answer is the former as the company recently announced an agreement to acquire Wellution, a top seller of American food supplements and cosmetics on Amazon. The deal is worth $20 million, and should give Scisparc access to a new range of products in this growing market. Considering that, does SPRC deserve a spot on your penny stocks watchlist today or not?
AMTD IDEA Group (NYSE: AMTD)
AMTD is a penny stock that we have covered numerous times in the past few months. And with a 50$ gain during trading today, AMTD is once again a popular penny stock to watch. The biggest recent news for the company came as it was hit with a $264 million lawsuit over an alleged breach of contract.
Since then however, the company has been the subject of massive speculation and social media related movement. This comes as trading for AMTD stock has been halted more than 11 times. So, while it’s hard to recommend buying AMTD for its long term value, it’s clear that there is a lot of movement that some investors could be willing to take advantage of. As a result, if you’re interested in a highly volatile penny stock to watch, AMTD could be worth keeping an eye on.
Which Penny Stocks Are You Watching Today?
As we enter a new day of trading penny stocks and blue chips, there is a lot for investors to consider. Although it can be difficult to profit with penny stocks, knowing how to take advantage of the factors at play in the stock market, remains crucial to making money with small caps.
[Read More] Top Penny Stocks to Watch After the Market Crash
And, with such a large amount of movement and so many factors impacting the market, there are plenty of opportunities for investors of all types. With that being said, which penny stocks are on your watchlist today?