Mar 16, 2022 (Penny Stocks via COMTEX) -- 3 Penny Stocks to Watch After Today's Fed Meeting
Right now, those who invest in penny stocks and blue chips are carefully watching the Fed meeting to see what will occur in the next few weeks. Right now, the Fed is set to increase the benchmark interest rate for the first time in four years. This is due to the government working to reduce inflation as it has hit its highest levels since the 80s.
In addition to potentially increasing interest rates during the meeting today, analysts believe that the Fed may offer a revised 2022 inflation plan. As far as penny stocks are concerned, this is a big update and one that should be taken into consideration. While the Fed meeting and rising interest rates will impact penny stocks, it will also have a larger impact on both the stock market as a whole and the U.S. economy moving forward.
Ahead of this decision, we're seeing markets climb as investors are excited about this anticipated event. Gainers during the day so far include Canaan Inc. ( NASDAQ: CAN ) and Meten Holding Group Ltd. ( NASDAQ: METX ) to name a few. So, with this in mind, let's take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist After the Fed Meeting
American Rebel Holdings Inc. ( NASDAQ: AREB )
Mullen Automotive Inc. ( NASDAQ: MULN )
Camber Energy Inc. ( NYSE: CEI )
American Rebel Holdings Inc. /zigman2/quotes/202635947/composite AREB +0.24%
One of the bigger gainers of the day and a penny stock that we have covered many times before is AREB stock. By midday, shares of AREB stock had shot up by over 40% to more than $2.04 per share.
This is a sizable increase and shows a bullish turnaround from previous performance for AREB stock. Now, it's worth noting that in the last few weeks, we've seen solid momentum with AREB stock in both directions. As a big and volatile mover, many investors are paying attention to it right now. To understand why, we have to take a closer look at what the company does.
The most recent news from American Rebel came on February 9th. On the 9th, it announced the closing of a $10.5 million public offering. This offering will allow the company to repay various debts as well as use it for general corporate purposes. That includes working capital, research and development, and the funding of growth strategies.
While there isn't a lot of other news concerning American Rebel, it is highly volatile, and therefore, continues to attract a great amount of attention. So, whether this makes it worth adding to your penny stocks watchlist or not, is up to you.
Mullen Automotive Inc. /zigman2/quotes/204868203/composite MULN +13.07%
If you've been watching penny stocks over the last few weeks, you're likely familiar with MULN stock. During trading today, shares of MULN stock shot up by over 3.8% at midday, bringing its five day and one month gains to over 45% and 90% respectively. These major gains reflect both news from the company and the massive speculation surrounding it as well.
If you're not familiar, Mullen is an electric vehicle company that has been extremely popular on Reddit over the past few weeks. While there isn't a short squeeze or anything similar causing this gain, many retail investors have been buying shares of MULN. This has resulted in its average daily volume increasing from 1.8 million a few weeks ago to over 200 million.