3 Penny Stocks to Add to Your Watchlist Right Now
If you’re wondering whether or not you should buy penny stocks right now, the answer is: it depends. Penny stocks can be a risky investment, but they can also offer the potential for big rewards. So, it really comes down to your personal risk tolerance and investment goals.
If you’re willing to take on a little more risk in pursuit of higher returns, then penny stocks may be worth considering. Just remember to do your research and only invest what you’re comfortable with losing. In addition, understanding what your risk tolerance and investment goals are is key to making any investment decision – not just with penny stocks. In addition, the high volatility that we’ve seen in the past few months in the stock market overall is something to keep in mind when making any investment decision.
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Ultimately, only you can decide if penny stocks are right for you. But if you’re looking for a potentially high-reward investment, they may be worth considering. So, should you buy penny stocks right now? Ultimately, the answer is up to you. Just be sure to weigh the risks and rewards carefully before making any decisions.
What Happened in the Stock Market on October 11th
On October 11th, both penny stocks and blue chips fell by EOD. This comes as stocks have been on a losing streak in the past few days. And, with key inflation data coming out later in the week, there is also a lot for investors to consider right now.
During trading on October 11th, the S&P 500, NASDAQ, and Dow Jones, fell by 0.6%, 1.1%, and 0.1% respectively. These numbers close out the indexes at some of the lowest numbers in months. So, with this in mind, let’s take a look at three penny stocks that could be a worthwhile addition to your watchlist today.
3 Penny Stocks to Watch Today
- Federated National Holding Co. (NASDAQ: FNHC)
- Laser Photonics (NASDAQ: LASE)
- SoFi Technologies Inc. (NASDAQ: SOFI)
Federated National Holding Co. (NASDAQ: FNHC)
One of the largest small cap gainers on October 11th was FNHC stock. By EOD, shares had exploded by more than 105%. As a leader in the insurance industry, FNHC has taken a massive hit in the past few weeks. And while it is very difficult to say why FNHC stock is moving right now, we have seen a large amount of movement in the insurance sector as a whole as of late.
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With any gain like the one witnessed by FNHC stock on October 11th, investors should assume that volatility will be commonplace for the foreseeable future. So, whether this makes FNHC stock worth adding toy our list of penny stocks to buy or not is up to you.
Laser Photonics (NASDAQ: LASE)
Another major gainer on October 11th was LASE stock. By EOD, shares of LASE had shot up by over 44%. While we do see large gains like this with little to no news, the company made an exciting announcement during trading on Tuesday. It stated that it received an order from the U.S. Navy for its CleanTech laser blasting system for submarine MRO.
This is a major deal for the company as it states that the Navy has a $22 billion budget annually to fight corrosion across its fleet. With this in mind, do you think that LASE is a worthwhile addition to your penny stocks watchlist or not?
SoFi Technologies Inc. (NASDAQ: SOFI)
With higher than average volume on October 11th, SOFI is another penny stock that is worth discussing right now. The most recent news from the company came as one of its operators, Galileo Financial Technologies, announced that it became Visa Ready certified for its PCaaSA technology.
This is a big deal and will allow Galileo to issue cards and become an even more innovative company in the payment processing market. Now, we haven’t seen too much in terms of gains with SOFI recently, but, with its high volume, it’s clear that investors are keeping a close eye on the company. Whether you should or not, is up to you.
Which Penny Stocks Are You Watching?
If you’re thinking about buying penny stocks, there are a few things you should keep in mind. First, penny stocks are generally much more volatile than regular stocks, so they can be riskier investments.
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Second, because penny stocks are not discussed as much as blue chips, it can be difficult to find information about them. Finally, Penny stocks can be a good investment if you do your research and are comfortable with the risks. However, if you’re not prepared to take on extra risk, you may want to avoid penny stocks altogether.
Penny stocks can be a high-risk investment, but they can also offer the potential for high rewards. If you’re thinking about buying penny stocks, just make sure to understand the risks involved and do your research before making any decisions. With that in mind, which penny stocks are you watching right now?
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