Buying Penny Stocks Today? Here’s What You Need to Know
Right now, penny stocks and blue chips are at one of the most volatile points we’ve witnessed in many months. As a result of geopolitical tensions between Russia and Ukraine, many investors are trading with fear right now. And while the larger stock market has fallen significantly in the past few weeks, there are plenty of penny stocks that have pushed up. To understand what is going on in the stock market right now, we have to take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
During morning trading, U.S. stock futures dropped significantly as Russia began a large attack in Ukraine. In line with the major drop in future, U.S. oil rose by over 8% with Brent crude topping $105 per barrel. Additionally, we are seeing the price of Bitcoin drop substantially amidst these global concerns.
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So as we can see, there is a lot for investors to digest right now. But, understanding exactly how these factors will play into trading penny stocks, is crucial to profiting. With that in mind, let’s take a look at three penny stocks that are gaining during premarket.
3 Penny Stocks Gaining During Premarket Right Now
- Camber Energy Inc. (NYSE: CEI)
- TDH Holdings Inc. (NASDAQ: PETZ)
- Enservco Corp. (NYSE: ENSV)
Camber Energy Inc. (NYSE: CEI)
One of the largest premarket gainers so far is CEI stock. By early morning, shares of CEI had shot up by over 36% to more than $0.81 per share. This adds to its five day gain of over 10% and six month gain of more than 50%. The big news behind Camber’s gain today comes as CEO James Dorris announced several key updates for the company.
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Doris stated that it has reduced debt on the balance sheet by over $100 million through the sale of divisions. Additionally, it licensed a patented carbon-capture technology for clean energy usage. And, it released much more information regarding the current state of the company. With this in mind, is CEI stock worth adding to your penny stocks watchlist today?
TDH Holdings Inc. (NASDAQ: PETZ)
By early morning, shares of PETZ stock had shot up by over 10%. This comes after a five day drop of more than 17%, which could signify a small bullish turnaround. While there is no news driving this gain, there are some assumptions we can make.
On one hand, China recently approved the import of grain from Russia. Because grain is a major ingredient in pet food products, we could be seeing a bounce as a result of this. But, it is unclear. Regardless, we do continue to see that PETZ stock is highly volatile. And as a result, it could be worth adding to your list of penny stocks to watch or not.
Enservco Corp. (NYSE: ENSV)
ENSV stock is another large premarket gainer with over 17% in gains. In the past five days, shares of ENSV stock have shot up by over 30% which is no small feat. While it is tough to say why ENSV stock is climbing right now, there are a few reasons we can look at.
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As an energy stock, Enservco is subject to the sizable bullish momentum in the industry right now. The price of oil continues to skyrocket as Russia invades Ukraine and it does not look like it is going down anytime soon. So, with that considered, is ENSV stock worth buying or not?
Which Penny Stocks Are You Watching Today?
With Russia beginning its invasion of Ukraine today, the fear that this would occur has finally come true. And now as penny stocks investors, it is up to us to find ways to take advantage of this tragic situation. So, with all of this in mind, which penny stocks are you watching today?
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