What You Need to Know About Buying Penny Stocks This Week
If you’re looking to make money in the stock market, there’s no better time to start trading penny stocks. Now, it’s important to consider that we have seen an incredible amount of volatility in the stock market in the past few weeks. But despite this, there are plenty of reasons to believe that penny stocks are a good investment right now.
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For starters, penny stocks tend to be much less expensive than other types of stocks. This means that they offer a great opportunity to get in on a company that could have high potential. Additionally, penny stocks tend to be much more volatile than other types of stocks. This means that they offer the potential for quick and profitable gains.
Finally, there are a number of online resources available that can help you research penny stocks and find the best ones to trade. So if you’re looking for a way to make money in the stock market, don’t overlook penny stocks. With this in mind, let’s take a look at what happened in the stock market on September 30th.
What Happened in the Stock Market on September 30th
On September 30th, both penny stocks and blue chips took another major dive. This brings the entire week to a loss with the S&P 500 dropping 1.5% alongside the Dow Jones dropping around 500 points. In the past three quarters, the NASDAQ and S&P 500 have recorded losing streaks for the first time in over a decade.
And as a result, many investors are working to find both penny stocks and blue chips that could be worth buying. While this is a challenge, because there are a lot of low priced penny stocks out there, there are plenty of options for traders of all types. With that considered, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- Ainos Inc. (NASDAQ: AIMD)
- Alset Ehome International Inc. (NASDAQ: AEI)
- Scisparc Ltd. (NASDAQ: SPRC)
Ainos Inc. (NASDAQ: AIMD)
One of the larger gainers on Friday, September 30th was AIMD stock. By EOD, shares had shot up by a staggering 35% to more than $1.89 per share. The main reason behind this gain comes as the company announced positiver results from its preclinical study of low-dose Interferon against the Omicron variant of Covid.
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With this, investors are excited about the potential future of the company. Now, it is tough to say how long this will take to commercialize. But, in the meantime, there’s no doubting that this is an exciting prospect. With all of this in mind, do you think AIMD stock is worth adding to your list of penny stocks to watch or not?
Alset Ehome International Inc. (NASDAQ: AEI)
Another penny stock that managed to climb on Friday was AEI stock. By end of day on Friday, we saw shares climb by more than 30%, which is quite substantial. While it is hard to say why AEI stock is climbing, there are a few things that we can speculate upon.
For one, AEI is often discussed on Reddit. This means that it can gain in value or fall simply due to online discussions. And while this makes it hard to justify buying shares of AEI stock, it does show that its volatility could be worth considering for some. Besides this, the company has not released any news recently. So, if you’re looking for a volatile penny stock to watch, AEI could be a worthwhile adding to your penny stocks watchlist.
Scisparc Ltd. (NASDAQ: SPRC)
With over 8.5% in gains to end the week, SPRC is another penny stock that many investors are watching right now. In the past month, shares of SPRC stock have shot up by more than 18%, which is no small feat. And to understand this, we have to take a closer look at any recent news or announcements from the company.
The biggest news came on September 30th when it announced the completion of its acquisition of Wellution. Wellution is a top seller of American food supplements and cosmetics on Amazon, and the deal is worth $20 million. With this, it should be able to break further into this industry. Considering that, does SPRC belong on your buy list this week or not?
Which Penny Stocks Are on Your Watchlist Today?
To conclude, penny stocks are a high-risk investment, but they can also be a high-reward investment. If you do your research and are comfortable with the risks, then penny stocks may be worth considering as part of your investment portfolio.
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However, if you’re not comfortable with the risks, or don’t have the time to do the necessary research, then penny stocks may not be right for you. At the end of the day, only you can decide whether or not penny stocks are worth investing in. Considering that, which penny stocks are on your watchlist for this week?