3 Good Penny Stocks to Watch Right Now
Investing in penny stocks can be a great way to make money, but it’s not always worth the risk. There are many different factors that you should consider before deciding whether or not to invest in penny stocks.
For example, you’ll need to take into account things like the stock value and market volatility. You should also think about your own financial situation and goals – do you have enough money to weather any potential losses? And how much time are you willing to spend researching individual companies?
Ultimately, it all comes down to your personal risk tolerance and level of knowledge about investing. If you’re comfortable with taking risks and know what you’re doing, then there may be some great opportunities for you in the penny stock market. But if you’re new to investing or unsure about your decisions, then it may be best to steer clear of these high-risk investments. With all of this in mind, let’s take a closer look at what happened in the stock market on October 12th.
What Happened in the Stock Market on October 12th
With another day of losses for penny stocks and blue chips, it’s can be challenging to be an investor in 2022. But, with the right information on hand, it can be much easier than previously imagined. Right now, the biggest catalyst in the stock market is the upcoming consumer report that will give some insight into whether or not the Fed will engage in more rate hikes moving forward.
So, while there are a lot of unknowns in the stock market right now, we know that there is opportunity with the right penny stocks watchlist in mind. Considering that, let’s take a look at three good penny stocks to watch right now.
3 Good Penny Stocks to Watch
- Agrify Corp. (NASDAQ: AGFY)
- Code Chain New Continent Ltd. (NASDAQ: CCNC)
- Meta Materials Inc. (NASDAQ: MMAT)
Agrify Corp. (NASDAQ: AGFY)
One of the largest gainers of the day on October 12th was AGFY stock. By EOD, shares of AGFY stock had shot up by over 85% to more than $0.95 per share. This is a substantial gain for the company that gives it a five day uptick of over 120%. So, is there any news behind this gain or is it simply the result of speculation?
The most recent news from the company came when it announced three new rapid deployment program customer engagements, which could bring in around $7.5 million in sales. Because of this, investors seem excited about the near term future of AGFY stock. While it is hard to say what the company will look like in that time, it could be a worthwhile addition to your penny stocks watchlist.
Code Chain New Continent Ltd. (NASDAQ: CCNC)
Another sizable gainer from Wednesday was CCNC stock. At EOD, CCNC had exploded by more than 35% to over $0.23. While this does come after a six month drop of nearly 70%, it is still a welcomed sign for investors.
Now, there is no news announcement that is causing this gain, so, we can take a closer look at what the company does. As a provider of electronic tokens and code chain technology, the company is a part of the cryptocurrency industry. With this, it is also subject to a high degree of volatility. So, whether CCNC is worth adding to your penny stocks buy list or not, is up to you.
Meta Materials Inc. (NASDAQ: MMAT)
With over 30% in gains during trading and another 3.8% in after hours upticks respectively, MMAT is another penny stock that investors are watching. To understand whether or not MMAT stock is worth buying, we can take a closer look at any recent news.
Around two weeks ago, the company announced that it had received $4.3 million in purchase orders. Since then, we have seen increased trading volume for MMAT stock. While it is impossible to say if MMAT will continue to make gains, it’s clear that it is a popular penny stock to watch right now.
Are Penny Stocks Worth Buying or Not?
To decide whether or not it is worth your time to look for penny stocks to buy, you first have to be aware of some of the risks and benefits that come with investing in these stocks under $5. While there are certainly some potential risks involved when you invest in penny stocks, including increased volatility as well as dabbling in companies that may move with little to no notice, there are also a number of benefits to consider.
For example, by looking for penny stocks to buy, you can potentially get access to investment opportunities that might otherwise be unavailable with blue chips. Additionally, if you do your research carefully and choose wisely among the available options, you may be able to earn better returns on your capital. Regardless, knowing what your trading strategy is will always be key. Considering that, do you think penny stocks are worth buying or not?