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May 16, 2022, 7:01 a.m. EDT

What to Know About Buying Penny Stocks on May 16th 

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Nu Holdings Ltd. /zigman2/quotes/231028167/composite NU +5.48%

Another major gainer at the end of last week was NU stock, pushing up by over 20%. In the past month, shares of NU stock have fallen from over $7 to its most recent price of around $4.90. While its penny stock status has been short-lived, many investors are keeping a close eye on the company in case it decides to jump back into blue-chip territory.

The reason for its recent jump comes as analyst James Friedman from Susquehanna put a $10 price target on the company with a 'positive' rating maintained. So, whether this rating is enough to make NU stock worth buying or not is up to you.

Which Penny Stocks Are You Watching?

Finding the best penny stocks to buy in 2022 is all about understanding which companies are worth investing in and which ones aren't. With so many options on the market, it can be tough to know where to start.

[Read More] Hot Penny Stocks to Watch After a Bearish Trading Week

But, with the right information on hand and a commitment to having a well-thought-out trading strategy, investors can have a much greater chance of making money with penny stocks. Considering this, which penny stocks are you watching this week?







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COMTEX_407259397/2643/2022-05-16T07:00:36

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/231028167/composite
US : U.S.: NYSE
$ 4.81
+0.25 +5.48%
Volume: 28.53M
Sept. 28, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$20.98 billion
Rev. per Employee
$406,056
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