3 Active Penny Stocks to Watch Right Now
With an interesting day of trading penny stocks ahead of us, there is a lot for investors to know. As a result, understanding what’s going on with penny stocks is more important than ever. It’s also important to consider that penny stocks are often volatile. And in the past few months, this high level of volatility has resulted in some stocks seeing significant price swings.
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So, what’s driving this volatility? In part, it’s the result of the current economic conditions. With interest rates moving higher, the stock market has been extremely unpredictable. Considering that, let’s take a look at what you missed in the stock market on August 31st.
What You Missed With Penny Stocks on August 31st
Investing in penny stocks and blue chips on August 31st was not easy. With stocks extending the current losing streak, many investors are looking for potential value penny stocks.
On Wednesday, August 31st, penny stocks and blue chips saw a decline with the Dow dropping by over 200 points. This brings the losing streak to four days which is not encouraging whatsoever. But, if you’ve been trading penny stocks in the past year or so, you’re likely used to this major amount of volatility. With this in mind, here’s what you need to know about trading penny stocks on September 1st.
What to Know About Trading Penny Stocks on September 1st
With a new month of trading for penny stocks and blue chips, we could see a shift in investor sentiment. Although it is tough to say with certainty what will happen in the coming weeks and months, we do know that volatility will be a mainstay in that time.
So, make sure that you have a well-thought-out trading strategy that can adapt to the current conditions of the stock market. Considering all of this, let’s take a look at three penny stocks that could be worth adding to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
- Greenpro Capital Corp. (NASDAQ: GRNQ)
- Baudax Bio Inc. (NASDAQ: BXRX)
- Waitr Holdings Inc. (NASDAQ: WTRH)
Greenpro Capital Corp. (NASDAQ: GRNQ)
One of the largest gainers of the day on August 31st was GRNQ stock. At EOD on Wednesday, shares of GRNQ stock had shot up by a staggering 63% before falling by around 2% in after hours. This major gain is not something we see regularly and for that reason, it’s worth taking a closer look at.
Now, there is no news for GRNQ stock right now that is causing this gain, so for that reason, we can assume it is the result of major speculation. And, this is something that we see often with penny stocks as they are heavily influenced by speculation and news. With this in mind, do you think that GRNQ stock is worth adding to your penny stocks watchlist or not?
Baudax Bio Inc. (NASDAQ: BXRX)
Another gainer on Wednesday was BXRX stock. During trading and after hours, shares of BXRX stock shot up by over 4.9% and more than 4.2% respectively. These gains come after a one month drop of nearly 54%, which is quite substantial. So, is this small gain a fluke or is there more for investors to consider?
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Only a day ago, shares of BXRX stock fell after the company announced the pricing of its $6.2 million public offering. And since then we have begun to see some bullish sentiment return to the company. While it is definitely too soon to say that BXRX stock is worth buying, it could be a worthwhile addition to your list of penny stocks to watch right now.
Waitr Holdings Inc. (NASDAQ: WTRH)
WTRH is a penny stock that we have been covering for quite some time. And although it is hard to say if it is worth buying or not, it’s clear that the company is popular right now. On August 31st, shares of WTRH stock shot up by over 7.3% with another 3.2% in after hours gains respectively.
The biggest news for the company came as it announced a new partnership with the University of Alabama, where in-stadium ordering will occur once more. This will allow beer and wine as pick up options, which is a major win for Waitr and fans alike. Considering this big update, does WTRH deserve a spot on your buy list or not?
Are Penny Stocks Worth Buying Right Now or Not?
When it comes to investing in penny stocks, whether they’re worth buying or not is up to you. As a trader, it all comes down to your investing strategy and how you feel about the risk involved.
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For some people, penny stocks are a great way to make quick and profitable investments in stocks that are undervalued. Others view them as a high-risk gamble that’s not worth taking. So, are penny stocks worth buying? It all depends on your investment strategy and risk tolerance. With that in mind, which penny stocks are on your buy list right now?
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