Jun 23, 2022 (Penny Stocks via COMTEX) -- 3 Penny Stocks to Add to Your Watchlist Right Now
Finding penny stocks that are worth buying in 2022 is not easy. And with so much going on in the stock market, investors need to make sure that they are staying as up-to-date as possible. This means considering what news and events are going on, and how they can be used as a benefit to your trading strategy.
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In June 2022, the largest impacting factors remain climbing interest rates and rising inflation. As a result of that, we have seen incredibly bearish price action in the past few weeks. With that, we have also seen some bullish trading days that investors can use to their benefit. But keep in mind that using volatility to your advantage involves a consistent and well thought out trading strategy.
Right now, many investors also believe that we could be nearing a recession. Because of that, some have chosen to invest more conservatively. On the other hand, some investors have taken advantage of prices being at very low levels, scooping up value where it can be found. So, with all of this in mind, let's take a look at three penny stocks to watch in July 2022.
3 Penny Stocks to Watch in July 2022
Blue Hat Interactive Entertainment Technology ( NASDAQ: BHAT )
Ginkgo Bioworks Holdings Inc. ( NYSE: DNA )
MSP Recovery Inc. ( NASDAQ: MSPR )
Blue Hat Interactive Entertainment Technology /zigman2/quotes/212513400/composite BHAT -6.19%
In the past few weeks, we've covered BHAT stock numerous times. This includes on June 22nd, the night before shares of BHAT stock exploded by over 270%. So, with this massive gain on June 23rd, is BHAT stock worth buying or not? To understand this, we have to take a closer look at the reason behind this uptick. The main reason today comes as the company announced it would not proceed with its previously announced underwritten public offering.
This means that investors are less at risk of seeing share dilution, and that the company could be overall in a better financial position. For some context, Blue Hat is a provider and developer of augmented reality games and toys. Based in China, the company has received mass attention recently due to its large price swings. With this however, comes a sizable amount of volatility for investors to consider. So, whether BHAT stock is worth adding to your list of penny stocks to buy or not, is up to you.
Ginkgo Bioworks Holdings Inc. /zigman2/quotes/226092395/composite DNA -1.99%
Another decent gainer on June 23rd is DNA stock. At EOD, shares of DNA had shot up by a very respectable 15%. And, in the past five days, we've seen DNA stock climb by over 17%, which is no small feat. After a six month drop of more than 70%, these recent bullish moves are a welcomed advancement for investors to consider.
To understand why shares of DNA stock are climbing right now, we can look at its recent updates. On June 21st, the company stated that it and Cronos Group Inc. ( NASDAQ: CRON ), have achieved a third target productivity milestone. This concerns the partnership between the two to develop eight cultured cannabinoids using Ginkgo's platform for design and development.
This is great news for the pair and continues to be one of the main reasons that DNA stock is climbing right now. With this in mind, does DNA belong on your penny stocks watchlist right now?
MSP Recovery Inc. /zigman2/quotes/220223595/composite MSPR +3.74%