Connect with us

Stocks

Best Penny Stocks To Buy Now? 4 To Watch After June’s Fed Meeting

Penny Stocks To Watch Right Now
The post Best Penny Stocks To Buy Now? 4 To Watch After June’s Fed Meeting appeared first on Penny Stocks to Buy, Picks,…

Published

on

The June Federal Reserve meeting has concluded, and the stock market has responded. Investors and traders alike have begun positioning themselves based on the latest commentary from Jerome Powell’s FOMC press conference. The interesting part about this is that some stocks don’t depend on what broader markets do. You’ll see this phenomenon in action if you look at things like penny stocks.

Are Penny Stocks Worth It?: AERC Stock Case Study

One of the most recent examples is the move that AeroClean Technologies (NASDAQ: AERC) made over the last few weeks. As broader markets and primary index ETFs like the S&P 500 (NYSEARCA: SPY) and Nasdaq (NASDAQ: QQQ) dropped lower, AERC stock exploded.

On June 6th, we discussed the company after announcing that it received FDA clearance for its Purgo medical-grade air hygiene product. Specifically, the product can be used in various applications to remove bacteria, fungi, and viruses from the air. It’s designed for hospitals, businesses, and healthcare facilities, among others.

At the time of the article, AERC stock traded below $5, and a few weeks later, the former penny stock reached highs of more than $23. Is this the norm for low-priced stocks? No, but does it show how penny stocks can be worth the risk? Yes, but risk and reward always factor in.

Penny Stocks To Watch

  1. Applied UV Inc. (NASDAQ: AUVI)
  2. Optinose Inc. (NASDAQ: OPTN)
  3. Clovis Oncology Inc. (NASDAQ: CLVS)
  4. Hut 8 Mining Corp. (NASDAQ: HUT)

Applied UV Inc. (NASDAQ: AUVI)

Shares of Applied UV have moved in sympathy with AeroClean. The correlation between the two companies seems to focus on air hygiene and cleaning companies. Applied UV specializes in surface cleaning products. It recently installed its patented LumiCide disinfection solution into New York City’s Mt. Sinai Medical Center Morningside. Furthermore, the facility is expected to publish the installation results later this year.

Given this focus on AERC in the stock market today, AUVI has become a secondary name on the list. Moreover, you can see the closer tie-in between the two companies by looking at their corresponding charts. Both have made significant moves higher since the first week of June. With this understanding, it’s worth mentioning that speculation could have played a leading role this month.

Optinose Inc. (NASDAQ: OPTN)

Shares of Optinose Inc. have also skyrocketed this month. The company focuses on patients cared for by ear, nose, and throat and allergy specialists. Its Directional Exhalation Delivery Systems are designed to deliver a steroid into the nose where inflammation can be challenging to reach. There are also exploratory applications in treating neurological or psychiatric disorders.

[Read More] Why These 3 Penny Stocks Exploded Today

The company is also developing XHANCE with its EDS in a clinical trial. This is the product most recently in focus. Optinose announced positive top-line results of its ReOpen2 Phase 3 trial for treating chronic sinusitis.

Optinose explained in a June update, “The safety profile and tolerability of XHANCE in this trial were generally consistent with its currently labelled safety profile. Adverse events occurring at a rate of more than 3% with XHANCE and more common than the Exhalation Delivery System placebo group in this trial were: epistaxis, COVID-19, headache, and depression…When pre-planned analyses are completed, detailed results from ReOpen2 will be submitted for publication in a peer-reviewed journal and for presentation at future medical meetings.”

OPTN stock has skyrocketed from under $2 to over $3.40 within the last four trading sessions.

best penny stocks to buy Optinose OPTN stock chart

Clovis Oncology Inc. (NASDAQ: CLVS)

In some cases, traders hunt for stocks that have hit rock bottom (or so they hope). Clovis Oncology is one of the names that continue holding a spot on watch lists even after dropping like a rock over the last year. Its most recent, less-than-favorable earnings results added fuel to the fire and sent CLVS stock to new 52-week lows.

However, since then, shares have managed to bounce back strongly. CLVS stock is up more than 50% within the last three days. Like Optinose, the primary catalyst at the core of the move was trial data. In this case, Clovis’ Phase 1 clinical study of its targeted radiotherapy candidate, FAP-2286, raised eyebrows. No serious adverse events, treatment discontinuation, or death of dose-limiting toxicities were observed. Meanwhile, the candidate demonstrated high tumor uptake and “prolonged retention” in a range of solid tumors.

With ongoing recruitment for the third dose cohort, there could be more data to digest later on. For now, CLVS stock has captivated the attention of retail traders in the stock market this week and could be one to watch right now.

best penny stocks to buy Clovis Oncology CLVS stock chart

Hut 8 Mining Corp. (NASDAQ: HUT)

Like Clovis, Hut 8 faced a wall of selling over the last few weeks. Considering that it’s a company directly involved in cryptocurrency mining, a drop in the price of Bitcoin weighed heavily on the penny stock. Regardless, following Fed Chair Jerome Powell’s press conference, cryptocurrency prices rebounded strongly, which seemed to help related stocks.

Hut 8 is one of the larger North American digital asset mining companies that gained big during the Bitcoin bull run. In recent news, it reported that it advanced its Bitcoin holdings over the last month ending May 31st. According to the company, Hut 8 mined 309 Bitcoin at an average production rate of 10 BTC per day. Its Ethereum mining generated 14% of its total production at a cost of roughly $3,654 per BTC. Furthermore, Hut 8’s total Bitcoin balance in reserve amounted to more than 7,000 at the end of the period.

[Read More] 3 Red Hot Penny Stocks Under $1 To Watch Before Next Week

Given the rebound in digital currency stocks, HUT has come back into focus (for now). Ultimately, it could come down to how Bitcoin performs once the market has time to digest the FOMC meeting results and Powell’s commentary.

best penny stocks to buy Hut 8 HUT stock chart

Are You Following PennyStocks Daily Updates?

Penny stocks are well-known for their high risk for massive losses and a high potential for significant rewards. But when proper research is done, and momentum catches hold, it can become a perfect storm for breakouts. PennyStocks.com writers scour the market for information and data on emerging trends that might be interesting to gain insight on based on bullish or bearish sentiment. Knowing how to research is vital to the success of traders and is the first place to start when it comes to putting together a proper penny stocks watch list.

Make sure you are following Penny Stocks on TwitterFacebook, and TikTok, Subscribe to Push Notifications & Join Our FREE Newsletter For Daily updates!

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!

The post Best Penny Stocks To Buy Now? 4 To Watch After June’s Fed Meeting appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Read More

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Spread & Containment

FTSE 100 gains as commodity-linked stocks bounce back

The commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3% UK’s FTSE 100 gained on Monday, as an easing of COVID-19 restrictions…

Published

on

The commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3%

UK’s FTSE 100 gained on Monday, as an easing of COVID-19 restrictions in China brought relief to commodity prices, lifting shares of major oil and mining companies.

As of 0704 GMT, the commodity-heavy FTSE 100 gained 0.4%, while mid-cap FTSE 250 index inched up 0.3%.

The risk sentiment improved after a Wall Street rally late last week and a rebound in copper and iron ore prices on Monday, boosted by an easing COVID-19 restrictions in Shanghai and relaxed testing mandates in several Chinese cities.

The burst of global enthusiasm for equities has put a spring in the step of the FTSE 100 at the start of the week, Hargreaves Lansdown analyst Susannah Streeter said.

Mining stocks led gains on the FTSE 100 index, with Anglo American, Rio Tinto and Glencore rising more than 3%, after Group of Seven leaders pledged to raise $600 billion private and public funds in five years to finance needed infrastructure in developing countries.

It is hoped this scheme, seen as a counter to China’s Belt and Road Initiative, will set off a spurt of spending and demand for commodities around the world, Streeter added.

Among individual stocks, CareTech surged 20.8% after the UK-based provider of care and residential services agreed to be acquired by a consortium led by Sheikh Hoidings in an 870.3 million pounds ($1.07 billion) deal.

Carnival Corp jumped 5.6%, extending its Friday gains after the leisure travel company forecast a positive core profit for the current quarter despite surging costs.

London-listed shares of Rio Tinto added 2% after a U.S appeals court ruled that the federal government may give the UK copper miner a right to lands in Arizona.

BAE Systems inched up 0.4% after the defence company received a $12 billion contract from the U.S Department of Defence.

The post FTSE 100 gains as commodity-linked stocks bounce back first appeared on Trading and Investment News.

Read More

Continue Reading

Science

Hot Penny Stocks to Buy This Week? 3 For Your List 

Can these penny stocks continue to climb
The post Hot Penny Stocks to Buy This Week? 3 For Your List  appeared first on Penny Stocks to Buy, Picks, News…

Published

on

3 Hot Penny Stocks to Add to Your Watchlist This Week 

Let’s face it, finding penny stocks to buy is not easy. And over the past few months, it has been increasingly challenging to make money with small caps. Now, while this may be true, not every investor has lost money in that time. Rather, to make money with penny stocks, traders have to be extra careful and know what penny stocks to buy. 

[Read More] Best Penny Stocks to Buy as June Ends? 3 to Watch 

There are a few key things to look for when finding penny stocks to buy. The first is a reason that it may move. When penny stocks shift up or down, there are numerous causes. But, most penny stocks will have a fundamental reason to do so. This could be a new product launch, an FDA approval, or anything else that would increase demand for the company’s shares. 

The second is liquidity. This is key because you need to be able to buy and sell penny stocks quickly. If there is not enough liquidity or shares traded in a day, you may be stuck with your penny stock. 

The last is price. You obviously want to buy penny stocks that are cheap, but you also want to make sure that the company is valued appropriately. This means looking at its fundamentals and understanding why it is at its given value. With all of this in mind, let’s take a look at three penny stocks to add to your watchlist this week.

3 Penny Stocks to Watch This Week 

  1. Visionary Education Technology Holding Group Inc. (NASDAQ: VEDU)
  2. RLX Technology Inc. (NYSE: RLX)
  3. Uranium Energy Corp. (NYSE: UEC

Visionary Education Technology Holding Group Inc. (NASDAQ: VEDU) 

One of the largest gainers of the day on June 27th was VEDU stock. By EOD, shares of VEDU had shot up by more than 30% with an over 5% after-hours gain. And, in the past five days, shares of VEDU stock have exploded by over 120%. These major gains come alongside no recent news. The most recent news however, came on May 19th. 

[Read More] Penny Stocks: Looking At The Big Picture For Tiny Stocks

On the 19th, the company announced the closing of its $17 million firm commitment IPO. This came with 4.25 million shares at a public offering price of $4 per share. For some context, Visionary Education is a Canadian based company offering high-quality education resources to students around the world. While it has fallen from its IPO price to around $2.60, its recent bullish momentum is exciting without a doubt. So, with all of this in mind, will VEDU be on your penny stocks watchlist or not?

RLX Technology Inc. (NYSE: RLX) 

With over 3% in gains during trading and after hours on June 27th, RLX is another penny stock that investors are watching right now. In the past month, we’ve seen shares of RLX climb by more than 19%, which is no small feat. The most recent news from the company came in the form of its unaudited Q1 2022 financial results. In the results, the company saw its net revenue decline slightly, however, it stated that this was due to the pandemic. 

“During the first quarter of 2022, we continued to focus on our core strategy and maintain our leading position in the industry while preparing for the anticipated regulatory changes.

As the new regulatory framework has come into effect and detailed implementation measures have been released, we are proactively adapting our business to the new market environment by applying for the relevant licenses and developing qualified products that meet the requirements of the most recent national standards.”

The CEO of RLX Technology, Ms. Ying Wang

While this news was not ideal, it did bring shares of RLX stock down to lower levels. And as a result, its recent bullish momentum could be due to RLX being at value prices. Whether this makes RLX worth adding to your list of penny stocks to buy, is up to you. 

Penny_Stocks_to_Watch_RLX

Uranium Energy Corp. (NYSE: UEC) 

On June 27th, UEC stock saw modest gains however, it did post abnormally high volume. And because of this, many investors are keeping a close eye on it right now. The most recent update from the company came on June 22nd, when it announced its entrance into a definitive agreement with UEX Corporation. It stated that it would acquire all of the outstanding shares of UEX with a C$5 million private placement. 

This is big news for the company and should add to its large and growing business. If you’re not familiar, Uranium Energy is a uranium mining company. And, recently, we’ve seen heightened interest in alternative energy penny stocks. And although UEC is highly volatile, it is an interesting penny stock to watch. With this considered, does UEC deserve an addition to your watchlist or not?

Penny_Stocks_to_Watch_Uranium

Which Penny Stocks Are You Buying Right Now?

After a relatively flat day of trading, investors are looking for the best penny stocks to buy this week. That involves understanding what factors are impacting the stock market, and how we can use those to benefit.

[Read More] Penny Stocks To Watch: Why EVFM, AGRX, CYBN, HILS & AFIB Stock Are Moving

Although trading is not easy, there are plenty of ways to find penny stocks to buy in 2022. So, with this in mind, which penny stocks are you buying right now?

[reblex id='29520']

The post Hot Penny Stocks to Buy This Week? 3 For Your List  appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Read More

Continue Reading

Economics

When bad news is good news

After the very sharp sell-off in the share market, the recent rally is indicative of a mood where bad news is good news. Specifically, the recognised slowdown…

Published

on

After the very sharp sell-off in the share market, the recent rally is indicative of a mood where bad news is good news. Specifically, the recognised slowdown in the English-speaking economies likely means the various Central Banks will not be required to increase official cash rates by the amount that most forecasters had assumed.

To reiterate, due to the tax via the increased prices for food, fuel, electricity and gas, combined with downward pressure on house prices from rising interest rates, plus the indebtedness of the Western world consumer, I am not nearly as pessimistic as most market commentators on the belated Central Bank tightening regime.  

Australia’s household debt to GDP ratio

And to summarise where we see the current environment:

  • While they maintain a 2-3 per cent inflation target – most Central Banks are late in their tightening cycle. They cannot risk cooling down economic activity too much within their levered systems without causing too much consequential pain.
  • The US S&P 500 Index has declined 23 per cent and this is discounting some fears of recession. Nevertheless, bottom-up analysts have yet to meaningfully move on the potential earnings downgrade cycle, given the severity of the slowdown, for Fiscal 2023.
  • 81 per cent of stocks listed on the NYSE are down more than 20 per cent from their 52-week highs, meaning we have experienced a broad-based sell-off. Many highly priced quality companies and smaller companies generally have been hit much harder.
  • The US Federal Reserve is likely to raise rates by 0.5 per cent at their next meeting in late-July 2022 to 2.0 per cent, and I expect another 0.25 per cent tightening thereafter.
  • Markets rely on liquidity and a change in the rhetoric on monetary policy from the US Federal Reserve is probably needed before we can be confident ‘the bottom’ is near.
  • Some commentors are looking for upcoming weakness in the hiring plans by small businesses – and that is expected to lead the unemployment rate by four months.
  • Keep a close eye on “Doctor Copper” – a key indicator of global industrial activity. After rallying from US$2.10/lb during the COVID-19 lows of March 2020 to US$5.00/lb in March 2022, the Copper price has since declined by 25 per cent to US$3.74/lb.
  • As with the Global Financial Crisis, stimulus from China will help offset some of the slowing we expect in Europe and the US and could assist with a pull-up effect for Australia.

You can read my previous article here: The size of the hangover usually corresponds with the size of the party

Read More

Continue Reading

Trending