May 25, 2022 (Penny Stocks via COMTEX) -- Buying Penny Stocks on May 25th? Here's What You Need to Know
If you're looking to buy penny stocks on May 25th, there is a lot that you need to know. For starters, we know that penny stocks have been extremely volatile in the past few months.
And, it is likely that we will continue to see this volatility in the stock market for the foreseeable future. So, if we keep that in mind, we can then work to figure out a penny stocks trading strategy that works for us. Considering this, let's take a look at what you may have missed on May 24th, 2022.
On Tuesday, May 24th, stocks traded lower with Snapchat Inc. ( NYSE: SNAP ) leading the charge. As a result of this, we saw the NASDAQ Composite drop by around 2.3%. This brings it to its lowest point since November of 2020. We also saw the S&P 500 follow suit, albeit, losing by slightly less.
As we can see, there is a lot on the table right now that is causing these sizable losses. With increasing inflation, rising interest rates, supply chain problems and more, we expect to continue seeing volatility in the near future. For that reason, here's what you need to know about trading penny stocks today.
After Tuesday's losses, we did see stock futures climb after market close. This includes a rise with the NASDAQ of 0.7% with the S&P 500 rising by around 0.5%. Although the issues surrounding Snapchat are concerning, investors have been more bullish in the last few trading days than in the past few weeks.
So, take this with a grain of salt, and understand that there could be some bargain penny stocks and blue chips out there. Considering this, here are three penny stocks to add to your watchlist today.
3 Penny Stocks to Watch Today
Imperial Petroleum Inc. ( NASDAQ: IMPP )
Vroom Inc. ( NASDAQ: VRM )
Quantum Computing Inc. ( NASDAQ: QUBT )
Imperial Petroleum Inc. /zigman2/quotes/231059446/composite IMPP +2.13%
Despite a 9% gain during trading on May 24th, shares of IMPP stock shot up by over 3.9% in after-hours. This comes after a staggering six months drop of over 94%, which is concerning. So, is there any value with IMPP stock right now?
The most recent news from Imperial Petroleum came on May 19th. On the 19th, the company announced the closing of a $40 million underwritten public offering. This should help to offer a good amount of capital to the company, which is an interesting sentiment for investors. With that in mind, will IMPP be on your penny stocks watchlist .
Vroom Inc. /zigman2/quotes/218801255/composite VRM -1.69%
Another penny stock that is seeing heightened popularity during after-hours trading is VRM stock. The most recent news to come out of VRM came on May 19th when it announced that it would host a virtual analyst and investor event on May 26th.
[Read More] 3 Penny Stocks Worth Watching This Week