3 Penny Stocks to Add to Your Watchlist Today
Investing in penny stocks can be a high-risk, high-reward proposition. But if you’re willing to take on the risk, there can be some big rewards to be had.
To find penny stocks that have the potential to make you money in 2022, you’ll need to do your research. Look for companies that are growing rapidly and have strong financials. Also, pay attention to the news to see if there are any catalysts that could drive the stock price higher.
If you’re willing to take on a little bit of risk, investing in penny stocks can be a great way to make some big profits in 2022. Just be sure to do your research. With this in mind, let’s take a look at what happened in the stock market on September 27th.
What Happened With Penny Stocks on September 27th, 2022
On September 27th, we saw penny stocks and blue chips fall once again. This brings the S&P 500 to a new 2022 low, which is not very encouraging for investors. During trading, the S&P 500 dropped by to around $3,623 with the Dow Jones Industrial Average dropping to around $29,134. Right now, we continue to see a high degree of market volatility.
And as a result, it is a great time to refine your trading strategy and make sure that you are fully aware of every factor at play. Considering that there is so much going on in the stock market, it is crucial to know how you will respond to the high rate of market volatility that exists. With this in mind, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
RA Medical Systems Inc. (NYSE: RMED)
One of the largest gainers of the day on September 27th was RMED stock. At EOD, shares of RMED had shot up by more than 17% to over $0.14 per share. In addition, during after hours, shares of RMED stock had shot up by over 5.9%. These sizable gains come on the heels of a 1 for 50 reverse stock split and a special meeting of its shareholders.
While it’s hard to say why shares of RMED stock are gaining, we can assume it is due to popularity of the stock and investor attention. This is often the case with penny stocks that climb with no particular news. Considering this, does RMED belong on your list of penny stocks to buy or not?
Transocean Ltd. (NYSE: RIG)
Another gainer on September 27th was RIG stock which shot up by over 4.4% at EOD. Despite falling by around 12% in the past five day period, this recent uptick is an encouraging sign for investors. Recently, shares of RIG stock have fallen due to the dropping price of oil.
While we have seen the price begin to stabilize, RIG stock remains highly impacted by any shifts in the price of the underlying resource. In addition, the price of oil is affected by aspects such as U.S. bond rates, and much more. And because of the macroeconomic volatility we’ve seen as of late, it’s clear that RIG stock could continue to move in either direction. With that in mind, does It deserve a spot on your penny stocks watchlist today?
Ambev SA (NYSE: ABEV)
During trading on September 27th, ABEV stock shot up by around 1%. While this may not seem like much, it did have much higher than average volume during trading. As a result, many investors are keeping a close eye on ABEV stock right now. If you’re not familiar, ABEV is a penny stock that we have covered on numerous occasions.
For some context, it is a provider of beverages that is based in Brazil. These include some of the moved prominent alcoholic and non-alcoholic brands in the beverage industry. While no news came out from ABEV on Tuesday, it could be worth a watchlist addition due to this heightened volume.
Are Penny Stocks Worth Buying Today?
With the rise in popularity of penny stocks, there are more and more people looking for information on how to buy penny stocks. While the process may seem daunting at first, it is actually quite simple. By following a few simple steps, you can be well on your way to earning a profit from penny stocks. Right now, one of the main components to making money with penny stocks is understanding what is going on in the overall stock market.
While there are a number of penny stocks that are doing well, the majority of them are not. This is due to the fact that the stock market has been incredibly volatile over the past year. In order to find penny stocks that are worth investing in, you need to be able to identify trends. Once you have done this, it can be much easier to profit. Considering all of that, do you think penny stocks are worth buying right now or not?