3 Under $4 Penny Stocks to Watch Right Now
If you’re looking for penny stocks to buy in 2022, there are a few things you need to keep in mind. First, don’t blindly follow the advice of others – do your own research before buying any stock. Second, make sure that you have a well-thought-out trading strategy, and don’t let emotions get in the way of your decisions. Finally, remember that penny stocks are a risky investment, so don’t bet more than you can afford to lose.
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In addition, understanding what’s going on in the stock market is crucial to making money with penny stocks. So, now that you know what to look for, let’s take a look at what happened in the stock market on September 19th.
What Happened With Penny Stocks on September 19th
During trading on September 19th, penny stocks and blue chips ended the day higher. This comes as we recently saw some of the most bearish trading in months. As a result, there is a lot of confusion in the stock market right now. This means that it may be worth trading with cautious optimism right now as opposed to fully bullish sentiment.
And, many investors expect that this high rate of volatility will continue into the near future. So, always make sure that you have a well thought out trading strategy that can develop and iterate with time. Considering all of this, let’s take a look at three penny stocks that could be worth watching right now.
3 Penny Stocks to Watch Right Now
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- Purple Innovation Inc. (NASDAQ: PRPL)
- Avaya Holdings Corp. (NYSE: AVYA)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the largest gainers of the day on September 19th was AVCT stock. At EOD, shares of AVCT had shot up by more than 28%. Despite a small after hours drop, AVCT is a very popular penny stock that investors are watching right now. And, in the past month, AVCT has shot up by more than 58%, which is no small feat.
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While there is no one reason for AVCT stock climbing right now, it is likely due to the impact of social media sentiment. This means that AVCT is highly talked about online, and therefore, continues to receive major investor attention. While this does make it tough to say that AVCT is worth buying, it could be worth adding to your list of penny stocks to watch.
Purple Innovation Inc. (NASDAQ: PRPL)
Another penny stock that managed to shoot up on Monday was PRPL stock. By EOD, shares of PRPL had exploded by over 39%. And after a six month drop of more than 45%, this is a welcomed advancement for investors to consider. So, why is PRPL stock climbing right now?
The main reason comes as the company received an unsolicited non-binding proposal from Coliseum Capital Management to acquire all of its outstanding capital stock. The company would acquire this at a price of $4.35 per share. While this deal will have to be approved but the board of directors, it’s clear that this is favorable news for the company according to its price action. Considering that, does PRPL belong on your penny stocks watchlist or not?
Avaya Holdings Corp. (NYSE: AVYA)
With over 6.5% in gains at EOD, EVYA is another penny stock that investors are watching right now. While this may seem like a lot, in the past five days and one month period, shares of AVYA stock have shot up by more than 15% and over 150%. These staggering gains do not reflect any distinct news from AVYA.
[Read More] Wall Street Stock Market Today: Penny Stocks To Watch Before Fed MeetingRather, AVYA is the latest meme stock to hit the scene. And as a result, it has skyrocketed in value despite any major news being announced. While this does make it an interesting penny stock to watch for some, for those risk averse investors, it may be worth avoiding AVYA. However, if volatility is your thing, it could be an interesting watchlist addition.
Which Penny Stocks Are You Watching Right Now
When it comes to penny stocks, there is no one-size-fits-all approach. The best way to find penny stocks to buy in 2022 is to do your own research and due diligence. There are a number of resources available online and off that can help you identify promising penny stocks.
Once you’ve found a few stocks that look promising, it’s important to monitor them closely and do additional research before investing. With careful planning and research, you can find penny stocks that have the potential to generate healthy profits.
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In addition, understanding what’s going on in the stock market is crucial to making informed investment decisions. Keeping up with current events and market news can help you make better investment choices and avoid potential pitfalls. With a little effort, you can find penny stocks that offer significant upside potential. By doing your homework and staying informed, you can be well on your way to profiting from penny stocks in 2022.
