Are these penny stocks on your to-buy list right now?
With another day of bearish trading patterns for penny stocks and blue chips, there is a lot for traders to know. As a result of trading penny stocks over the past few months, most investors are eager to see bullish trading patterns. But due to rising inflation, uncertainty about the future of the stock market and rising interest rates, we are likely to continue to see high volatility across the board.
So, to take advantage of this, penny stock traders need to be extra careful with stock selection and the strategies they employ. One of the most important steps is research. Always make sure you know everything there is to know about penny stocks before investing. Find out about the company’s financials, its management team, and its business model. Also, because penny stocks are so speculative, they tend to be heavily influenced by news and events. That means that understanding what’s going on in the stock market will always be paramount to making money in small-cap stocks.
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Events like FDA news, earnings releases, and M&A activity can all trigger big moves in penny stocks. So make sure you are always up to date with the latest happenings. The bottom line is that trading penny stocks can be a great way to make money. However, it is important to remember that risk should always be considered. With that in mind, let’s take a look at three penny stocks to put on your watch list right now.
3 Penny Stocks You Should Add to Your Watch List Right Now
- Idera Pharmaceuticals Inc. (NASDAQ:IDRA)
- Vinco Ventures Inc. (NASDAQ:BBIG)
- Verb Technology Company Inc. (NASDAQ:VERB)
Idera Pharmaceuticals Inc. (NASDAQ:IDRA)
One of the day’s bigger winners so far has been IDRA stock. As of midday, shares of IDRA stock had skyrocketed over 5.9%. This sizeable gain occurs on a day when the stock market is falling, making it even more exciting. In the last five days, shares of IDRA stock are up over 40%, which is no small feat. The main reason for this lies in an exciting announcement by the company on May 17th. On the 17th, it announced that it had presented positive interim results for its investigator-sponsored INTRIM 1 study. With these results, the company says it can end the study early.
“This is an exciting result for tilsotolimod and we are excited for the patients and their families who are given hope for the future. These results, combined with data demonstrating tilsotolimod’s mechanism of action and encouraging safety profiles from across the body of previous preclinical and clinical work, support tilsotolimod’s potential to offer benefits to patients with certain types of cancer.”
Vincent Milano, CEO of Idera
There’s significant upside in biotech penny stocks right now. So, given this big news, will IDRA be on your penny stock watch list or not?
Vinco Ventures Inc. (NASDAQ:BBIG)
Another big gainer at noon on May 18th is BBIG stock. By midday, shares of BBIG were up more than 10.3% to above $3.16. And in the last five days, we’ve seen BBIG stock soar more than 32%, which is no small feat. During this time we covered the BBIG share several times. So why is Vinco Ventures rising right now?
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Well, the main reason is that today BBIG stockholders get one TYDE share for every ten BBIG shares. This will be completed by May 27th and has been the main reason behind the momentum in BBIG stock lately. While BBIG has had a relatively difficult period of its own over the past six months, this news is exciting for investors and likely the reason for the bullish sentiment. So whether it is worth buying BBIG shares or not is up to you.
Verb Technology Company Inc. (NASDAQ:VERB)
With over 13% gain today, VERB stock has skyrocketed more than 28% over the past five days. This is an exciting sentiment after the six-month decline of more than 70%. The company’s biggest news came today when it announced that Miami Fitwear will begin hosting live stream shopping events on its MARKET platform. This starts on June 2nd and offers eco-friendly clothing options.
“Miami Fitwear is an excellent addition to our list of quality suppliers on MARKET. Having worked with Raquel and Miami Fitwear for many years, I know that MARKET will be a great fit for the apparel brand as it not only highlights unique product designs but also offers live chat with viewers about product features and quality.”
Kate Eckman, SVP of Programming and Talent Acquisition at Verb
This is big news for the future of this product and its usability in general. And while we don’t know the long-term implications of this deal, it’s clear that it’s an exciting announcement nonetheless. With that in mind, do you think it’s worth adding VERB to your list of penny stocks to watch?
What penny stocks are you watching right now?
If you are looking for the best penny stocks to buy, there are hundreds of options to choose from. But just because penny stocks are popular doesn’t mean they’re worth buying.
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Rather, investors need to fully understand why penny stocks are moving and how they can benefit from them. With that in mind, which penny stocks are you watching right now?
Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | [email protected]