With May proving to be another interesting month for penny stocks and blue chips, there is a lot that investors need to keep track of. First and foremost, we know that penny stocks are in an extremely volatile place right now. This is the result of factors such as rising inflation, climbing interest rates, and geopolitical tensions abroad.

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All of this has resulted in major losses across the past few months. And while trading on May 17th was the first positive day in quite some time, it is likely that we will continue to see major market fluctuations in the near future. So, to take advantage of this, investors need to have two things: an understanding of how to trade penny stocks , and guidance on what events to take advantage of. Understanding how to trade may seem obvious, but it is a step that is often overlooked by traders.

And on the other side, knowing what events are going on and how to take advantage of them, is a key aspect to making money with small caps. In addition, traders should know to never buy and sell penny stocks with emotion. This is the easiest way to lose money, and it is almost a guarantee. So, with all of this in mind, let’s take a look at three penny stocks to add to your watchlist right now.

3 Penny Stocks to Add to Your Watchlist

1. Vinco Ventures Inc. ( NASDAQ: BBIG )
2. ENDRA Life Sciences Inc. ( NASDAQ: NDRA )
3. Ardelyx Inc. ( NASDAQ: ARDX )

Vinco Ventures Inc. (NASDAQ: BBIG)

One of the bigger gainers of the day on May 17th is BBIG stock. At EOD, shares of BBIG had shot up by over 5% and more than 4.9% during after hours. This substantial gain adds to BBIG’s one month uptick of over 13%.

In that time, we’ve covered BBIG stock on numerous occasions. And to understand why, we have to take a closer look at the company. The main reason behind its recent move comes as the company set a record and distribution date for the planned business separation of it and Cryptyde. On May 18th, those who hold shares in Vinco, will earn one Cryptyde share for every ten BBIG shares held.

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Following this, Cryptyde will trade on the NASDAQ Capital Market under the symbol, ‘TYDE’. If you’re not familiar with Vinco Ventures, it invests in a range of burgeoning media and content technologies. This includes its investment in Cryptyde, but also Lomotif, and others as well.

While Vinco Ventures has shown a sizable amount of bullish sentiment recently, the majority of its trading patterns in the past few months have been extremely volatile. So, keep this in mind if you’re wondering whether or not BBIG belongs on your penny stocks watchlist .

News Provided by small cap network via QuoteMedia