3 Cheap Penny Stocks to Add to Your September Watchlist
Investing in penny stocks is not easy, however, with the right information on hand, it can be very rewarding financially. With so many penny stocks to choose from, it can be difficult to know where to start. This is where a good penny stocks list comes in handy.
There are a few key things to look for when choosing penny stocks. First, you want to find stocks that are trading with enough volume to buy and sell. This will help ensure that the stock has enough movement for investors to profit.
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In addition, make sure that it aligns with your investment goals. Are you looking for stocks that will appreciate over time, or are you more interested in stocks that offer short term movement? With all of this in mind, let’s take a look at what happened in the stock market on August 22nd.
Stock Market Recap, August 22nd, 2022
During trading on August 22nd, both penny stocks and blue chips saw some sizable bearish momentum. The losses we saw on Monday combined with those of Friday represent the largest drops since June. But, this also comes after some major bullish momentum that has occurred in the past month or so. So, make sure to take this with a grain of salt.
Now, it is always crucial to stick to your trading strategy regardless of what is going on in the market. And because penny stocks don’t like to play by the rules, there are plenty of opportunities to make money even on bearish days. With this considered, here’s what you need to know about trading penny stocks on August 23rd.
What You Need to know About Buying Penny Stocks on August 23rd
Right now, it is impossible to predict what will happen in the stock market. Although we are seeing bearish momentum over the past few days, we could see some deals that result in wins for traders.
But, the only thing we can predict with certainty is that volatility in the stock market willful continue in the near future. So, keep this in mind, and make sure that you trade accordingly. Considering all of this, let’s take a look at three penny stocks that could be worth adding to your watchlist today.
3 Penny Stocks to Watch Right Now
- AnPac Bio-Medical Science Co. Ltd. (NASDAQ: ANPC)
- Graphex Group (NYSE: GRFX)
- Bright Minds Biosciences Inc. (NASDAQ: DRUG)
AnPac Bio-Medical Science Co. Ltd. (NASDAQ: ANPC)
One of the largest gainers of the day on August 22nd was ANPC stock. At EOD, shares of ANPC had shot up by more than 64%. Despite a small 9% drop in after hours, its major uptick during intraday trading is encouraging.
While there is no major recent news from the company, it did announce that Yuyang Cui would be its new Co-Chairman and Co-CEO a few days ago., In addition, the company saw a 9% drop in value at the end of last week. So, while it is difficult to say why shares of ANPC stock are climbing, we could chalk it up to speculation and overall momentum. With that in mind, does ANPC look like it’s worth adding to your list of penny stocks to buy or not?
Graphex Group (NYSE: GRFX)
Another large gainer on August 22nd was GRFX stock. At EOD, shares of GRFX managed to shoot up by more than 25%, which is no small feat. And in the past month, this number jumps to more than 33%. The biggest news from the company comes as it announced its U.S. expansion progress as well as a business strategy update.
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In this, it stated that it plans to increase its graphite production around the world. This comes as the company sees a continued future in the growth of the EV sector. While GRFX is not an EV penny stock, it does supply natural graphite which is used in the batteries of electric vehicles. So, this news is very exciting for investors to consider right now. Whether this makes GRFX a worthwhile addition to your penny stocks watchlist or not, is up to you.
Bright Minds Biosciences Inc. (NASDAQ: DRUG)
With over 70% in gains at EOD on August 22nd, DRUG stock is on many investors watchlists right now. And in the past five days, DRUG stock has shot up by more than 110%, which is quite substantial. With these major gains, the company recently released a statement adding that it is not aware of any information causing this uptick.
However, we have seen a large amount of notoriety surrounding psychedelic therapies and the potential legalization of them. As a result, companies like DRUG have continued to see heightened attention in the past few weeks. While this does not mean that DRUG stock is worth buying, it does mean that it is worth taking a second look at.
Which Penny Stocks Are You Watching Today?
Finding penny stocks that are worth buying is all about understanding two things; your trading strategy and what is going on in the market. Both of these will help you to have the greatest chance of making a profit with small caps.
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And in 2022, there is so much going on with penny stocks that it can be complicated to keep up. However, with a proper trading strategy and a commitment to understanding what news is at play, making money with penny stocks can be completely possible. Considering this, which penny stocks are you watching today?