3 Reddit Penny Stocks For Your End of September Watchlist
There’s a lot of debate on whether or not penny stocks are worth investing in. On one hand, they offer a high potential for return, since you can buy them for pennies and watch them grow exponentially. On the other hand, they’re also very volatile and risky, so you could easily lose your entire investment. In addition, when we factor in the effects of Reddit, we see even more likelihood that volatile will be high.
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So, what’s the verdict? Are penny stocks worth buying or not? The answer is: it depends. If you’re an experienced investor with a strong stomach for risk, then penny stocks may be worth considering. However, if you’re new to investing or don’t have much experience, then it’s probably best to steer clear of penny stocks. If you do decide to invest in penny stocks, be sure to do your research and always know the risks before you buy.
Penny stocks are definitely not for everyone. They’re high risk and highly volatile, so there’s a good chance you could lose your entire investment. However, if you’re an experienced investor with a strong stomach for risk, then penny stocks may be worth considering. With that in mind, let’s take a look at what happened in the stock market on September 22nd.
What Happened in the Stock Market on September 22nd
On September 22nd, penny stocks and blue chips fell again. This comes as the Fed recently implemented another aggressive rate hike, which albeit, was expected. At EOD, the S&P 500 traded at around 0.1% lower, which is its lowest level since the middle of July. And while this is concerning, we have to remember that this is a natural part of the stock market.
This is especially true considering the sizable inflation that we have seen as characteristic over the past few months. So, while it is impossible to say what the future will hold, we do know that for now, it could be worth investing conservatively. With that in mind, let’s take a closer look at three penny stocks that could be worth watching right now.
3 Reddit Penny Stocks to Watch Right Now
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- Spero Therapeutics Inc. (NASDAQ: SPRO)
- Avenue Therapeutics Inc. (NASDAQ: ATXI)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the larger gainers on September 22nd was AVCT stock. It’s worth noting that we have discussed AVCT on numerous occasions in the past few weeks. And on September 22nd, shares of AVCT shot up by over 44%. This gives it a five day and one month gain of over 70% and more than 120% respectively. So, why the major uptick for AVCT stock right now?
Well, aside from being a trending Reddit penny stock, American Virtual Cloud has not made many announcements in the past few weeks. With some board changes, the company has received some attention, however, it is tough to characterize this gain with a reason. With that being said, does AVCT deserve a spot on your penny stocks watchlist or not?
Spero Therapeutics Inc. (NASDAQ: SPRO)
Another major gainer on September 22nd was SPRO stock. By EOD, shares of SPRO had exploded by over 165% to more than $2.20 per share. While we do see gains like this without any news, the company made an exciting announcement during trading.
The news comes as the company announced GSK Plc. (NASDAQ: GSK) had entered into an exclusive license agreement for its late-stage antibiotic asset, tebipenem HBr. With this, the company will receive $66 million in an upfront payment from GSK alongside milestone payments of $225 million. Considering all of this exciting news, will SPRO be on your list of penny stocks to buy today?
Avenue Therapeutics Inc. (NASDAQ: ATXI)
Adding to the list of triple digit percentage point gainers on September 22nd, ATXI stock shot up by over 105%. This incredible gain comes after a YTD drop of over 50%, which shows just how important this uptick is.
The main news came on Thursday when it announced a reverse stock split as well as a regulatory update for its IV formation of Tramadol. This includes a receipt of its Type A Meeting minutes from the FDA. Right now, we continue to see bullish sentiment with biotech penny stocks. And as a result, ATXI stock could be worth adding to your watchlist today.
Which Penny Stocks Are You Watching Right Now?
Investing in penny stocks can be a risky proposition, but if you do your homework and understand the risks involved, it can also be a rewarding way to make money.
While there are no guarantees in the stock market, if you research a company before investing and monitor your investment closely, you can minimize your risk and maximize your chances for success. So, are penny stocks worth buying? Ultimately, that decision is up to you. Considering this, which penny stocks are you watching right now?