3 Hot Penny Stocks To Add To Your Watch List Right Now
While June 29, 2022 was a rather flat trading day for penny stocks and blue chips, investors now have a lot to look forward to. For example, in 2022 we have seen many penny stocks fall to very low levels.
And while this isn’t ideal, it has caused many penny stocks and blue chips to reach their levels of value. So if you’ve been waiting to invest in the stock market, now might be a good time to start. Of course, penny stocks can always go down as well as up, so it’s important to do your research and understand the risks before investing. But if you’re looking for opportunities in the stock market, penny stocks can be a great place to start. Although volatility is currently very high, there are still opportunities.
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So if you are thinking about investing in penny stocks, make sure you understand the risks and do your research. While it is impossible to predict what will happen in the near future, we do know that these large swings could continue. With that in mind, let’s take a look at three hot penny stocks to keep an eye on right now.
3 Hot Penny Stocks To Check Out Right Now
- AcelRx Pharma Inc. (NASDAQ:ACRX)
- Connect Biopharma Holdings Ltd. (NASDAQ:CNTB)
- Geron Corp. (NASDAQ: PLEASE)
AcelRx Pharma Inc. (NASDAQ:ACRX)
One of the bigger gainers on June 29th was ACRX stock. At EOD, ACRX shares managed to soar by over 15%, which is no small feat. And after hours, ACRX stock was up another 6.5%.
With so much bullish momentum right now, many investors are wondering why AcelRx stock shares are rising. And to answer that, we need to take a closer look. In the past five days, ACRX stock is up over 25%. And while there hasn’t been any news in that time, we’ve seen a lot of popularity in the biotech sector over the last month or so.
About a month ago, word broke that the FDA changed its requirements for Dsuvia risk assessment and mitigation strategies for healthcare audits. As a result, we saw AcelRx shares soar when this was announced. So even though it’s been quite a while, we could still see the impact of this in retail. With this in mind, will ACRX be on your penny stock watch list or not?
Connect Biopharma Holdings Ltd. (NASDAQ:CNTB)
During trading on June 29, CNTB stock managed to surge over 8.5%. Despite falling about 7% in after-hours trading, CNTB stock is up over 23% over the past month. The latest news from the company came on June 17th. On June 17, the company announced that it had received a letter from NASDAQ stating that it had not met the minimum listing requirement of $1.
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In late May, the company presented data at the Society for Investigative Dermatology annual meeting. This was the latest update from the company. In case you don’t know, Connect Biopharma is a clinical-stage biopharmaceutical working to improve the lives of people living with inflammatory diseases. Recently, as mentioned above, we’ve seen a lot of bullish sentiment in biotech stocks. For that reason, it might be worth adding CNTB stock to your list of penny stocks to watch.
Geron Corp. (NASDAQ: PLEASE)
During trading on June 29, GERN stock shot up over 1.3%, or 0.5% in after-hours trading. And in the last five days, GERN stock has skyrocketed by over 17%. The latest news from the company came on June 16th.
On the 16th, the company announced that it had granted a non-statutory stock option to purchase a total of 70,000 shares. In some context, Geron is a late-stage clinical biopharmaceutical company. It works on the development and marketing of drugs used in hematological malignancies.
And it’s currently working on two phase 3 clinical trials called Merge and IMpactMF for refractory myelofibrosis. Although there hasn’t been any major news from the company lately, it has recently seen increased popularity. With that in mind, do you think it’s worth buying GERN stock or not?
Can Penny Stocks Keep Going Up?
If you are looking for the best penny stocks to buy in 2022, there are hundreds of options to choose from. But to pick the best penny stocks to buy, investors need to have a complete understanding of what’s going on in the stock market. That means checking out the news, current events and any press releases that may have come out recently.
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As a result, it can be difficult to keep up with the sheer volume of things that are going on. But with a good understanding of what’s going on in the stock market, making money in penny stocks can be a lot easier. With that in mind, do you think penny stocks can keep going or not?
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