3 Penny Stocks to Add to Your Watchlist Right Now
If you’re looking for penny stocks to buy, there are plenty of options to choose from. But, to understand which companies are worth buying, investors need to have a thorough understanding of what penny stocks are. Penny stocks are shares of companies that trade for less than $5 per share. They’re often overlooked by investors because they’re considered to be high risk and volatile.
However, because they move so frequently and in large amounts, they have the potential to offer big returns if one is careful. To have the greatest chance of making money with penny stocks, it’s important to do your research and understand the market before making any moves. This means looking at aspects such as recent news and events, market updates, and announcements pertaining to individual penny stocks.
[Read More] Best Penny Stocks To Buy? 5 With Massive Bullish Options Volume Today
When searching for the best penny stocks to buy, there are a few things that investors need to keep in mind. First and foremost, it’s important to only invest what you’re willing to lose. While losing money is not the objective with penny stocks, it is a reality for most at certain times.
Secondly, it’s crucial to have a solid plan and adhere to it. This means having an exit strategy for when things go wrong, as well as a strategy for reinvesting profits. Lastly, it’s important to diversify your portfolio by investing in multiple penny stocks that are in different industries. This way, you’ll be able to minimize your losses if one company underperforms. With this in mind, let’s take a look at three penny stocks that are climbing right now.
3 Penny Stocks That Are Climbing Right Now
- Bitnile Holdings Inc. (NYSE: NILE)
- Nextdoor Holdings Inc. (NYSE: KIND)
- BioNano Genomics Inc. (NASDAQ: BNGO)
Bitnile Holdings Inc. (NYSE: NILE)
Bitnile is one of the bigger gainers of the day, shooting up by over 12.9% at midday. Despite an 88% drop in the past six months, shares of NILE have seen some bullish sentiment recently. One of the main catalysts for its bearish momentum is the recent fall of cryptocurrency. However, the company also recently reported its preliminary Q1 2022 financial results. In the results, the company posted revenue of $32 million, which is a major increase of 142% YoY.
“We are encouraged by the Company’s momentum across its business segments. The first-quarter results represent a strong start to the year. We reaffirm our expectation to almost triple our top-line results in 2022 from 2021, growing revenue to more than $155 million in 2022.”
The CEO of Bitnile Holdings, Milton Ault III
If you’re not familiar, Bitnile is a holding company that owns a Bitcoin mining and data center. In addition, the company supports several industries such as telecom, automotive, entrepreneurial and much more. So, with all of that in mind, investors should…
Read More:pennystocks.com
