3 Penny Stocks to Add to Your Watchlist This Week
Are penny stocks worth it right now? That’s a tough question to answer, as there are pros and cons to consider. On the one hand, penny stocks are often seen as a high-risk investment, so there’s definitely potential for loss. However, if you pick the right penny stock and invest wisely, there’s also potential for big rewards.
So it really depends on your personal risk tolerance and investment goals. If you’re willing to take on more risk in pursuit of higher returns, then investing in penny stocks may be right for you. But if you’re more conservative with your money, you might want to steer clear. Ultimately, it’s up to you to decide whether penny stocks are worth the risk. With that in mind, let’s take a look at what happened in the stock market on Friday, September 23rd.
What Happened in the Stock Market on Friday, September 23rd
On September 23rd, the stock market managed to dive once again. This brings the Dow to its lowest point in 2022. In addition to penny stocks and blue chips falling, we saw the price of oil drop as well alongside the recent interest rate increase from the Fed.
Specifically, the S&P 500 had dropped by over 2.1%, which is testing its June 16th low price. In addition to this, we saw the Dow Jones drop by over 600 points. So, while all of this is concerning, it is nothing new. With that considered, here are three penny stocks to add to your watchlist.
3 Penny Stocks to Watch This Week
- Rubius Therapeutics (NASDAQ: RUBY)
- Athersys Inc. (NASDAQ: ATHX)
- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)
Rubius Therapeutics (NASDAQ: RUBY)
One of the largest gainers of the day on Friday was RUBY stock. At EOD on Friday, shares of RUBY stock had shot up by more than 6.2%. In the past month, RUBY stock has shot down by more than 29%, which makes this recent gain even more enticing.
The most recent news from the company came on September 19th, when it announced that its CEO would be presenting at the Guggenheim Nantucket Therapeutics Conference on September 29th. Since then, the company has seen some bullish interest from investors. While it is hard to say that RUBY stock is worth buying or not, it could be worth adding to your list of penny stocks to watch.
Athersys Inc. (NASDAQ: ATHX)
Another gainer on Friday was ATHX stock. At EOD, shares of ATHX stock had shot up by over 35% to more than $1.63. Over the last five day period, shares of ATHX stock had dropped by around 10%. To understand the most recent gain, we have to take a look at news that came on the same day.
A few days ago, the company stated that it amended its securities purchase agreement in relation to its recent registered direct offering. While this in itself is not major news, it is enough to make shares of ATHX stock jump. So, whether it’s a worthwhile addition to your penny stocks watchlist or not, is up to you.
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)
With 2% in gains and high volume on Friday September 23rd, shares of FFIE stock are climbing. In the last six month period, FFIE stock has shot down by around 85%. Therefore, this recent move is an interesting sign for investors to consider.
Recently, the company has been working to raise capital, which makes sense as EV penny stocks continue to show movement. Whether or not FFIE stock deserves a spot on your buy list is up to you.
Which Penny Stocks Are on Your Watchlist Right Now?
Some people believe that buying penny stocks is a good investment right now, while others believe that it is not worth the risk. So, what is the verdict? Is buying penny stocks a good idea or not?
Well, it depends on a few factors. First, you need to understand what penny stocks are and how they work. Penny stocks are usually defined as shares of companies that trade for less than $5 per share. Typically, these companies are small and/or new and may be in a volatile or risky industry.
Second, you need to consider your own investment goals and risk tolerance. If you’re looking for quick profits, then penny stocks may be worth considering. However, if you’re more interested in stability and long-term growth, then you may want to steer clear of penny stocks.
Third, you need to do your research. Just because a stock is trading for less than $5 per share doesn’t mean it’s a good deal. You need to look at the company’s financials, business model, and competitive landscape before making any investment decisions.
So, there you have it. Whether or not buying penny stocks is a good idea depends on your own personal circumstances. Be sure to do your research and understand the risks before making any investment decisions.