Penny stocks have always been an intriguing aspect of the stock market due to their high risk and high reward nature. Trading penny stocks can be a very profitable venture if one understands its basics and has access to the right information. With penny stock volatility at an all-time high, the penny stocks market still has a lot to offer. This month has seen a lot of happenings affect the penny stocks market. From the rising inflation to skyrocketing interest rates to increasing Covid cases, and to the recent development regarding Monkeypox, the penny stocks market has been heavily impacted.
Amid this rollercoaster, some penny stocks have proven to be worth keeping an eye on. Let’s see how these three coins have fared so far and how you can deploy the proper trading strategies to get the best out of them.
1. Better Therapeutics Inc. (NASDAQ: BTTX)
BTTX stock was a surprise to many traders when it shot up to a staggering 69% as at EOD on May 24th. The reason this stock reached this peak might be due to the positive financial report for the quarter that the company published earlier this month. With the CEO and Co-founder of Better Therapeutic announcing a recent breakthrough in the treatment of cardiometabolic diseases, this upwards trend might continue for BTTX, and you might want to consider investing in it.
2. Zovio Inc. (NASDAQ: ZVO)
ZVO stock was another decent gainer on May 24th, with the shares rising by over 5.3%. This was a continuation of the trend that has developed over the past few days as ZVO stock has climbed by more than 10.3% in the past 5 days. This stock is also an enticing one to consider as the company announced that it would be selling a part of its subsidiary, which means more capital from the sale.
3. Invesco Mortgage Capital Inc. (NYSE: IVR)
IVR stock has been in the spotlight for quite a while now, and it continues to attract interest. With a slight bullish run today before it climbed by 1.1%, this stock might be worth watching. Although the company announced a net loss in its financial report for the quarter, this highly volatile stock might just be the investment you need to make.
Featured Image: MegaPixl © Alancrosthwaite
