3 Penny Stocks to Add to Your Watchlist Right Now
When it comes to finding the best penny stocks to buy, understanding market trends is crucial. By analyzing stocks and keeping up with the latest news in the financial world, you can get a better sense of which stocks are poised for growth and which ones might be headed for a decline.
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Right now, we continue to see a large amount of volatility with penny stocks. This is something that we’ve seen over the past year or so, and it is likely to continue into the near future. With this in mind, here’s what you missed in the stock market on August 25th.
Stock Market Recap, August 25th, 2022
At EOD on August 25th, the stock market managed to end much higher. By EOD, the Dow Jones had climbed by 320 points or around 1%. In addition, we saw the S&P 500 climb by roughly 1.4% and the NASDAQ Composite by 1.6% respectively. This is exciting news, especially considering the recent bearish movement we’ve seen.
Now, it’s important to consider that we don’t know what movement will come in the next few weeks or months. So, understand that volatility is likely to continue in that time. With this considered, here’s what investors need to know about buying and selling penny stocks on August 26th.
What You Need to Know About Buying Penny Stocks on August 26th
As stated earlier, there is no way to predict what will happen with penny stocks or blue chips. But, what we do know is that there is a lot of movement in the stock market. This movement could be a game changer for some investors but it also could be a big downside for others.
The best way to try and take advantage of this is to understand what your strategy is and how to use that as an advantage. With that, let’s take a look at three penny stocks to watch right now.
3 Penny Stocks to Watch Right Now
- Kiora Pharmaceuticals Inc. (NASDAQ: KPRX)
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Nokia Oyj (NYSE: NOK)
Kiora Pharmaceuticals Inc. (NASDAQ: KPRX)
At EOD on August 25th, shares of KPRX stock exploded by a staggering 95%. And, in after hours trading, we saw KPRX stock shoot up by another 2.5%. These gains are impressive and come after news dropped regarding an analyst. The analyst, Matthew Kaplan from Ladenburg, initiated coverage on the company and added a ‘Buy’ rating alongside a $6.50 price target.
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All of this is helping KPRX stock right now, and is a clear reason that shares are climbing. Keep in mind that analyst ratings are just estimates, and they should never be the only reason behind your decision to buy or sell a stock. But, with this in mind, do you think KPRX stock is worth adding to your list of penny stocks to buy or not?
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
With over 14% in gains by EOD, KAVL is another penny stock that investors are watching right now. And, in the past five day period, shares of KAVL stock have shot up by more than 30%, which is no small feat. As a result, many investors are paying attention to the company. The main reason for this comes as it announced that its brand, Bidi Vapor, won a merit case against the FDA.
With this, it states that it could see a positive revenue impact. While it is hard to say what the long term effects of this announcement will be, it’s clear that this is exciting news for the company and investors alike. Whether this makes KAVL a worthwhile addition to your penny stocks watchlist however, is up to you.
Nokia Oyj (NYSE: NOK)
Nokia Oyj is a popular penny stock that pushed up by over 2% at EOD on August 25th. While this may not seem like much, the company now sits at around $5.07 per share, which means that it is no longer a penny stock.
The biggest recent news from Nokia came on August 25th when it announced the repurchase of its shares. This is a big deal for the company and is a positive that investors are surely considering right now. It’s worth considering that NOK is also a trending penny stock that sees movement due to popularity online.
Which Penny Stocks Are You Watching Right Now?
If you’re thinking about investing in penny stocks, now is a great time to start doing your research. While penny stocks may seem like a high-risk investment, understanding market trends can help you make informed decisions about which stocks to buy.
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In 2022, investing in penny stocks is all about understanding both your own risk tolerance and what is going on in the stock market. These two factors will help you determine whether or not a penny stock is worth investing in. Considering all of this, which penny stocks are you buying right now?
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