3 Penny Stocks to Watch as the Stock Market Remains Volatile
Investing in penny stocks can be a great way to build your wealth over time. But it’s not without its risks. Before you decide to buy penny stocks, it’s important to understand the potential rewards and risks involved.
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The biggest potential reward from buying penny stocks is the possibility of earning profits through price appreciation. When it comes to penny stocks, most investors tend to use short term trading strategies. This means that they’re looking to buy penny stocks that they think will increase in value over a short period of time, and then sell them for a profit.
However, there are also risks associated with buying penny stocks. One of, if not the biggest risk is the possibility of losing money. Penny stocks are often considered to be high risk investments and therefore, it all comes down to you and your trading strategy. With this in mind, let’s take a closer look at what happened in the stock market on September 29th.
What Happened in the Stock Market on September 29th
On September 29th, 2022, the stock market plunged once again. This puts the Dow back into a bear market, which is a price 20% below its all time high. On Thursday, the Dow fell by around 2.1% with the NASDAQ Composite dropping by around 2.8%.
These are not great signs for investors and come alongside some major recent losses. As we’ve seen, trading penny stocks and blue chips is not easy. And, because of that, now is the time to cement your trading strategy. With all of this in mind, let’s take a look at three penny stocks that could be worth adding to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
- Senti Biosciences Inc. (NASDAQ: SNTI)
- Bigbear.ai Holdings Inc. (NYSE: BBAI)
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the bigger gainers of the day on September 29th was AVCT stock. At EOD, AVCT had shot up by more than 6% with a 4% after hours gain. In the past six month period, AVCT stock has fallen by around 70%.
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As a result, many investors are wondering just why AVCT stock is climbing right now. Well, the short answer is that AVCT is a popular meme penny stock. This means that it is discussed frequently online in places like Reddit and Twitter. As a result, prices can climb or fall significantly in a short time frame. So, with this in mind, will AVCT be on your penny stocks watchlist or not?
Senti Biosciences Inc. (NASDAQ: SNTI)
Senti Biosciences is another major gainer on September 29th. By EOD, shares had shot up by over 50%, which is no small feat. And after a 78% six month drop, the uptick on Thursday is a welcomed one for investors to consider. Now, there is no major news from the company causing this gain, however, it is another meme stock.
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For some added context, Senti Bio is a biotech penny stock that is building Gene Circuits. These are cell and gene therapies that can be used enhance existing medicines. With a major emphasis on biotech penny stocks right now and this big gain, do you think SNTI is a worthwhile addition to your list of penny stocks to buy?
Bigbear.ai Holdings Inc. (NYSE: BBAI)
With more than 30% in gains during trading, BBAI is a penny stock that could be worth adding to your watchlist. Although we do see major gains with little to no news, BBAI made an exciting announcement on Thursday, September 29th.
On the 29th, the company stated that it was awarded a $14.8 million contract from the U.S. Army Global Force Information Management System. With this, it will help to update 14 legacy systems into one platform for senior Army leadership. With this news, it’s obvious why BBAI stock is gaining right now. But, do you think that it can continue to make progress as we move into the next few weeks and beyond?
Which Penny Stocks Are You Buying Today?
If you’re thinking about buying stocks, you may be wondering if it’s really worth it. After all, there is always the potential for loss when you invest in stocks.
However, there are also a number of reasons why buying stocks can be a good idea. For one thing, stocks have the potential to provide you with significant financial growth. Over time, penny stocks can go up in value, which is a positive regardless of your trading strategy.
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Additionally, always consider what your trading strategy is and how long you plan to hold on to your stocks. If you’re looking for short-term gains, then penny stocks may not be the best option. However, if you’re willing to hold onto your stocks for the long haul, they can provide you with substantial returns.
Ultimately, whether or not buying stocks is worth it depends on your individual circumstances and investment goals. However, if you’re willing to take on some risk, investing in penny stocks can be a great way to grow your investments.