Buying Penny Stocks Today? Here’s What You Need to Know
If you’re looking to buy penny stocks right now, there are a few things to consider. For one, the stock market is more volatile than it has been in many months prior. This is the result of several larger factors impacting both penny stocks and blue chips. And because of this high volatility, understanding what is going on in the world has never been more crucial. With that in mind, let’s take a look at what you need to know about trading penny stocks today.
What You Need to Know About Trading Penny Stocks Today
During premarket trading on Thursday, U.S. equity futures began to climb following yesterday’s rollercoaster-like session. As we’ve seen in the past few weeks, the major impacting factors on the stock market right now are the war in Ukraine and inflation in the U.S. Both of these have continued to have a substantial impact on how penny stocks trade, and as a result, they are crucial to consider.
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In the morning premarket session on March 24th, contracts on the S&P 500 managed to push up by around 0.5% with the Dow climbing by around 0.3%. Some early morning gainers include VEON Ltd. (NASDAQ: VEON) and Bitnile Holdings Inc. (NYSE: NILE) among others. With this in mind, let’s take a look at three penny stocks that are gaining right now.
3 Penny Stocks Gaining During Morning Trading
- Biondvax Pharmaceuticals Ltd. (NASDAQ: BVXV)
- Mercurity Fintech Holding Inc. (NASDAQ: MFH)
- Vinco Ventures Inc. (NASDAQ: BBIG)
Biondvax Pharmaceuticals Ltd. (NASDAQ: BVXV)
One of the largest gainers during premarket today is BVXV stock. By early morning, shares had shot up by over 50% before retreating slightly. While many penny stocks gain without news, today the company made an exciting announcement. It stated that it has signed into a definitive collaboration agreement for the development of nano sized antibody therapies or NanoAbs.
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These target disease factors and could have a fast track to approval given the current ones available. It states that human trials for its new Covid-19 NanoAb could show results in 2023. With this in mind, will BVXV be on your penny stocks watchlist?
Mercurity Fintech Holding Inc. (NASDAQ: MFH)
Another sizable premarket gainer today is MFH stock. By early morning trading, MFH stock had climbed by over 49% to more than $3.14 per share. This comes after a six month drop of more than 15% and is a welcomed advance for investors. While there is no news that is causing this gain, we can look at its most recent announcement to see why it may be pushing up.
A few months ago, Mercurity announced its Q3 2021 financial results. In the results, did post a net loss of 2.3 million, however, it stated that it completed the re-integration of its business. So, while it’s hard to say why MFH stock is pushing up right now, it could be worth adding to your list of penny stocks to watch.
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures is a penny stock that we have discussed numerous times in the past few months. And today, shares of BBIG stock managed to shoot up by over 9% during premarket trading. This adds to its five day gain of more than 34% which is no small feat. Again, it’s tough to say why BBIG stock is gaining right now.
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However, it could be due to its recent popularity on Reddit and social media in general. BBIG is a classic short squeeze stock, and it has been discussed heavily on social in the past few days. As we always see, when a penny stock is talked about frequently, it will move in value in either direction. With this in mind, will BBIG be on your penny stocks watchlist or not?
Which Penny Stocks Are You Watching Right Now?
As we continue to head toward a volatile future for penny stocks and blue chips, investors need to stay on their toes. Because there is so much going on in the stock market, it is more crucial than ever to have a full understanding of how to take advantage of the current factors at play. Considering that we are likely to see more movement in the coming months, which penny stocks are you watching right now?
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