3 Top Penny Stocks That Could Be Worth Adding to Your Watchlist
Finding the best penny stocks for your watchlist is all about understanding where to look. While there are hundreds of penny stocks to choose from, not all of them will offer the same value point as others. So, if you’re making a penny stocks watchlist, the best place to start is by understanding your own investing style and tolerance for risk.
On one hand, investors can take a more conservative pathway. This means looking for low-risk, low-volatility penny stocks. While this can be challenging, there are plenty of options out there. The more popular strategy that investors tend to use with penny stocks is swing trading. This means looking for intraday trends and using them to make small or medium gains that add up.
Swing trading tends to be the more popular method as penny stocks are usually quite volatile. This leaves a large amount of price action to take advantage of. And, if we also consider the sheer number of factors impacting the stock market, we see that there is plenty of momentum right now, and likely in the future. So, with all of this in mind, let’s take a look at three top penny stocks to watch that are making big moves right now.
3 Top Penny Stocks For Your October Watchlist
- Adamis Pharmaceuticals Corp. (NASDAQ: ADMP)
- Denison Mines Corp. (NYSE: DNN)
- Agile Therapeutics Inc. (NASDAQ: AGRX)
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP)
Adamis Pharmaceuticals Corporation is a biotech penny stock that has climbed by over 15% in the past five days, bringing its six-month and YTD gains to over 73% and 127% respectively. If you’re not familiar, Adamis is a company that develops and commercializes products for allergies and respiratory disease. One of its products is the Symjepi Injection for use in acute allergic reactions. It also has APC410 for treating respiratory diseases including asthma and COVID-19.
On October 18th, Adamis received approval from the U.S. Food and Drug Administration for its ZIMHI product. ZIMHI is a high-dose naloxone injection product used for opioid overdose. It works by blocking or reversing the effects of the opioid. In the 12 months ending March 2021, more than 96,000 people died from drug overdoses. This makes it the leading cause of death for Americans under 50 years old.
“We are very excited by this approval and are working with our commercial partner, US WorldMeds, to make this much-needed, lifesaving product readily available to the market. ZIMHI provides the highest systemic levels of naloxone compared to any of the nasal or intramuscular products currently available.”
The CEO and President of Adamis, Dr. Dennis J. Calo
Following this announcement, shares of ADMP stock soared in the market. With this in mind, will ADMP be on your list of penny stocks to watch?
Denison Mines Corp. (NYSE:…