Penny stocks are stocks with a low price per share and a smaller market capitalization (the total value of all the outstanding shares) of a company. Penny stocks are often volatile and subject to fraud, so it’s important to know how to buy the right penny stocks at a given time, which is in this case June 7, 2022. As an investor, you’ll need to do your research first, find the right broker that suits your needs, do an adequate amount of analysis and be prepared to get liquidated if things don’t work out. With that in mind, we’ll first look at things you may have missed earlier this month.
Stock Market Recap, June 2022
On June 3, we witnessed shares of penny stocks and blue chips fall considerably by the end of the day. The NASDAQ, the S&P 500, and the Dow Jones fell by 2.5%, 1.6%, and 350 points respectively. Although this isn’t good news, there are some clear factors behind this event.
Due to stronger than expected numbers at the time of writing, many investors believe that rates will rise in the near future. Keeping this in mind, let’s discuss trading penny stocks.
What You Must Know: Trading Penny Stocks
As it stands, the stock market is experiencing a lot of volatility and it’s likely that this trend will continue. Even though it’s tough to say what kind of sentiment will settle in, it’s clear that these large market fluctuations are here to stay.
So, without further ado, here are some penny stocks to add to your watchlist now.
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Acorda Therapeutics Inc. (NASDAQ:ACOR)
On June 3rd, ACOR stock shares managed to jump by 4% during after-hours trading, coming off of a one day decline of more than 10% during the trading day. The last five days saw the value of ACOR stock decrease by over 28%, which is significant, but is likely to rebound.
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Bit Origin Ltd. (NASDAQ:BTOG)
This penny stock plummeted before making a substantial climb in after-hours trading on June 3rd. On Friday, during trading, we saw the BTOG stock plummet 44%. In turn, this caused a significant percentage loss followed by a 4.6% gain following an overnight trading session.
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Globalstar Inc. (NYSE:GSAT)
GSAT is a low-priced stock, and shares rose over 3.7% during the day. While no news is pushing this upward trend, the past few weeks have seen bullish sentiment within the tech industry on this stock.
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