Share Dilution

What to know about buying Penny Stocks on June 29

Buy Penny Stocks on June 29? Here’s what you need to know

If you’re looking to buy penny stocks on June 29, there are hundreds of options to choose from. But, because there are so many choices out there, investors need to be very sure which penny stocks they choose.

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Right now, we continue to see very high levels of volatility across the board. This has made investing in penny stocks not easy. For this reason, it is crucial to know exactly what is going on in the stock market and how to take advantage of it. So, with that in mind, let’s take a look at what you need to know about trading penny stocks right now.

Stock Market Summary, June 28, 2022

On June 28, penny stocks and blue chips experienced another day of losses. During trading, the NASDAQ and the Dow fell about 3% and 500 points respectively. These losses are due to various reasons, including a new report. This report showed that consumer confidence fell to a 16-month low this month with growing concerns about inflation.

As a result, a strong bearish trade ensued. It is, however, something we have seen quite regularly over the past few months. So, with that in mind, here’s what you need to know about trading penny stocks today.

What to Know About Trading Penny Stocks Today

Before the market opened on June 29, we saw equity futures start to climb. On Tuesday night, the S&P 500 and Dow futures rose about 0.04% and 0.06% respectively. Although these are modest and generally stable, they do signify that there is a slight bullish reversal after the day. As a result, investors must work tirelessly to find the best penny stocks to buy. Considering that, here are three penny stocks to watch right now.

3 Penny Stocks to Watch Right Now

  1. Allena Pharmaceuticals Inc. (NASDAQ: ALNA)
  2. Meta Materials Inc. (NASDAQ: MMAT)
  3. Bird Global Inc. (NYSE: BRDS)

Allena Pharmaceuticals Inc. (NASDAQ: ALNA)

On Tuesday, ALNA stock saw a dismal 5% drop during trading. However, after hours ALNA shares soared over 90%. This took it to over $0.23 per share, which is a significant increase from its final price of $0.12.

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The main reason for this is that the company announced that it had terminated its recent market sale agreement for its common stock with B. Riley Securities. This is a major move that could help investors avoid stock dilution. Given this, will ALNA be on your penny stocks watchlist or not?

While MMAT shares managed to fall during June 28 trading, they saw a nearly 2% gain after hours. And that comes after a one-month drop of more than 40%. The main news for Meta Materials came after hours as the company announced the closing of a registered $50 million direct offering.

This is an event investors should consider as it should help Meta Materials secure appropriate funding moving forward. Whether that makes the MMAT stock worth adding to your list of penny stocks to buy or not is up to you.

Penny_Stocks_to_Watch_Meta

Bird Global Inc. (NYSE: BRDS)

Similar to the other stocks on this list, Bird Global saw declines during June 28 trading. However, during the afters, he managed to increase his value by more than 4%. While that may sound modest, it’s impressive given that stocks have fallen more than 35% in the past month.

The company’s most recent news came when it announced the NYSE notice that it was no longer in compliance with the minimum bid price rule. This means that it has a period of time in which it must climb above $1 in order to avoid the risk of being written off. That said, is BRDS on your list of penny stocks to watch or not?

Penny_Stocks_to_Watch_Bird Global (BIRD stock chart)

What Penny Stocks are you looking at right now?

If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. But, as cautious investors, we need to step back and look at the stock market as a whole.

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By understanding how the stock market works and the factors that influence it, we can better assess which penny stocks are worth investing in. With such volatility right now, investors need to be very careful when choosing penny stocks to buy. With all of that in mind, what penny stocks are you looking at right now?

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