Sep 13, 2022 (Penny Stocks via COMTEX) -- 3 Hot Penny Stocks to Add to Your Watchlist Now
With so many penny stocks to add to your watchlist right now, how do you know which ones to pick? It's tough to make money with penny stocks these days. Many experts are trading with a high degree of cautious optimism.
The main takeaway for trading penny stocks in 2022 is understanding exactly what is going on in the stock market and how to take advantage. As we know, penny stock are very volatile and reactive. And this means that news and announcements will have a major impact on how stocks trade.
So, make sure you have a firm understanding of what's going on in the market before making any decisions. When it comes to penny stocks , there are a few things you need to keep in mind. First, don't put all your eggs in one basket. Diversify your portfolio and don't put all your money into one stock. With all of this considered, here's what you missed in the stock market on September 12th.
On September 12th, the stock market managed to end higher with all three indexes in the green. This comes as EOW last week was rather bullish despite previous bearish movement. The gain today comes as investors anticipate the Sep. 20-21 meeting of the Fed, where it will announce a third 0.75 % rate hike.
As a result of this, some investors are excited that the latest rate hikes will be coming to an end, and others are seeing this as a cause for volatility. In addition, other factors like the U.S. dollar value moving and changes in Ukraine, have also contributed greatly to the current situation with the stock market. Because of all of this, we continue to see a large amount of volatility in the stock market across the board. Considering that, let's take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to your Watchlist Right Now
Mullen Automotive Inc. ( NASDAQ: MULN )
Neurobo Pharmaceuticals Inc. ( NASDAQ: NRBO )
Regulus Therapeutics Inc. ( NASDAQ: RGLS )
Mullen Automotive Inc. /zigman2/quotes/204868203/composite MULN +6.57%
One of the higher volume movers on September 12th was MULN stock. At EOD, shares of MULN had shot up by around 2%, which is nothing to write home about. However, MULN volume was much higher than its average, resulting in a major uptick in popularity.
The most recent news from the company came a few days ago when it announced the full funding and closing of its majority acquisition of Bollinger Motors. Since then, not much news has come out of the company however, EV penny stocks remain very popular. With this in mind, do you think MULN is worth adding to your list of penny stocks to watch?
Neurobo Pharmaceuticals Inc. /zigman2/quotes/207284462/composite NRBO +8.73%
On September 12th, shares of NRBO stock shot up by an explosive, 125%. This is a major gain for the company that comes alongside some news that came out on the same day. On Monday, it announced a 1-30 reverse split of its common stock.
This comes after a June 9th meeting of shareholders where the company approved a proposal to amend its Certificate of Incorporation. While this may not have a major long term effect, it is important to consider in the short term. With this considered, does NRBO deserve a spot on your penny stocks watchlist or not?