Why Investors Are Watching These 4 Trending Penny Stocks
If you’re looking to get in on the action with penny stocks, it’s important to know which stocks are trending and how to find them. Utilizing methods for finding trending penny stocks can help you to have a greater chance at profiting in the short and long term.
How to Find Trending Penny Stocks
So, how can you tell which penny stocks or blue chips are on the rise? There are a few different ways to find trending penny stocks. You can use an online stock screener to search for stocks that are trading at low prices but have high volume or stocks that have recently had a price spike. You can also look for stocks that have been in the news recently or that are being talked about on social media. This includes platforms like Twitter, Reddit and more.
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Because penny stocks are both speculative and reactive, understanding the news and current events can be helpful in predicting which stocks will go up or down. For example, if there’s a new medical breakthrough, stocks related to the healthcare industry may start to trend upwards. If there’s political unrest in a certain country, stocks related to that country may become more volatile. Keeping up with current events can give you an edge when trading penny stocks.
Another way to find trending stocks is to look at technical indicators. This involves studying things like stock charts, momentum indicators and volume indicators. By looking at these indicators, you can get a better idea of which stocks are starting to move in a certain direction. Today, some big gainers include Yumanity Therapeutics Inc. (NASDAQ: YMTX) and Cyren Ltd. (NASDAQ: CYRN) among others. So, with this in mind, let’s take a look at four trending penny stocks to watch as March comes to an end.
4 Trending Penny Stocks to Watch as March Ends
- Denison Mines Corp. (NYSE: DNN)
- Gevo Inc. (NASDAQ: GEVO)
- Gbs Inc. (NASDAQ: GBS)
- Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
Denison Mines Corp. (NYSE: DNN)
By EOD on March 21st, shares of DNN stock had shot up by over 3.6%. This is a sizable amount and reflects popularity with both Denison and the uranium industry right now. In the past five days, shares of DNN stock have climbed by more than 17% and by more than 37% in the past month. So, why have shares of DNN stock been on the rise?
In the past few weeks, the issues in Ukraine have resulted in a major focus on the energy sector. And because uranium and nuclear energy at large present a major opportunity for investors to take advantage of, companies have been on the rise. Specifically for DNN, we have seen strong operational and financial results for the company in the past few months. Because of this, investors continue to show confidence in the company. With this in mind, will DNN be on your penny stocks watchlist or not?
Gevo Inc. (NASDAQ: GEVO)
Another decent gainer on March 21st is GEVO stock. At EOD, shares of GEVO had shot up by over 6.5%, bringing it to more than $4.59 per share. This is a substantial gain for GEVO, however, shares have risen by more than 28% and 50% in the past five day and one month periods. The big news for GEVO comes as it announced a fuel deal with the airline organization, Oneworld Alliance.
Oneworld stated that some of its members could purchase up to 200 million gallons of fuel, and Gevo stated that deliveries will start in 2027 and continue for five years. Gevo states that it may be able to bring in more than $800 million in that five year period, which would come from the sale of ethanol produced from corn. Considering this big news, does GEVO deserve a spot on your list of penny stocks to buy?
Gbs Inc. (NASDAQ: GBS)
With over 15% in gains on March 21st, GBS is another trending penny stock that investors are watching right now. And in the past five days, GBS stock has climbed by more 43%, which is quite a lot. While there is no recent news from the company, we can look at its Q2 2022 financial report that came out last month. In the report, the company posted over $11 million in cash on hand with a net loss of around $3.46 million.
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As a life sciences company, GBS has seen more attention in the past few weeks than usual. And, it is currently developing a wide range of diagnostic platforms. This includes those used in diagnosing diabetes. So, while there is no news that we can look at to define its gain today, it’s clear that investors are interested in GBS stock right now. Whether this makes it worth buying however, is up to you.
Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
Another penny stock that is trending right now is Clarus Therapeutics. While the major emphasis on biotech stocks could be part of the reason for this, Clarus is also making big moves as a company.
Clarus has quietly slid to new lows over the last few months. I say this because CRXT stock is generally less liquid than many of its biotech cohorts. Monday saw the company’s shares trade at some of its highest volumes since Q4 of 2021. Volume is a great indicator for popularity, and as a result, we see that CRXT stock is very popular right now.
There weren’t many headlines to coincide with the move-in CRXT stock. However, a Phase 4 trial initiation announced earlier this month could have come back into focus. Clarus reported commencement of the latest phase in its clinical trial of chronic kidney disease treatment candidate, JATENZO. Trial results from are expected during the first half of next year.
“Patients with CKD suffer from a myriad of comorbidities, which often include profound reductions in circulating T. Epidemiological data indicate that an estimated two million men with CKD are clinically hypogonadal and thus may benefit from T replacement therapy.
This will be the first of several life cycle management studies for JATENZO designed to maximize the potential for treatment of specific patient populations where T deficiency is a component of their compromised health.”
Dr. Robert Dudley, President and Chief Executive Officer of Clarus
Are Penny Stocks Profitable or Not?
There’s no one-size-fits-all answer to this question, as the profitability of investing in penny stocks depends on a number of factors, including the platform you use, the stocks you choose and your overall investment strategy.
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However, with careful research and due diligence, investing in penny stocks can be a profitable endeavor. Considering this, do you think that penny stocks are worth investing in or not?
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