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.
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
- Visionary Education Technology Holding Group Inc. (NASDAQ: VEDU)
- RLX Technology Inc. (NYSE: RLX)
- 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.
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.
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. 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?
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.
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?
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.
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Author: D. Marie
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