Buying Penny Stocks Today? Here’s What You Need to Know
With another week of trading penny stocks and blue chips ready to get started, there is a lot for investors to understand. Right now, we are still contending with the effects of the Russia-Ukraine was as well as inflation and rising interest rates.
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However, we are seeing a bullish return to the market. Some early morning gainers right now include Tesla Inc. (NASDAQ: TSLA) and WiMi Hologram Cloud Inc. (NASDAQ: WIMI) among others. So, with this 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 Monday, March 28th, both stocks and bonds saw some bullish movement. In addition, we saw penny stocks and blue chips with ties to Bitcoin and cryptocurrency, push up as BTC made big moves over the weekend.
So, as the central bank works to tighten its monetary policy, there is a lot for investors to keep in mind over the next few months. With that considered, let’s take a look at three penny stocks that are gaining during morning trading.
3 Penny Stocks Gaining During Morning Trading
- Bitnile Holdings Inc. (NYSE: NILE)
- Scworx Corp. (NASDAQ: WORX)
- Kaixin Auto Holdings (NASDAQ: KXIN)
Bitnile Holdings Inc. (NYSE: NILE)
One of the larger premarket gainers so far is Bitnile Holdings Inc. By early morning, shares of NILE stock had shot up by over 18%. This is a substantial gain and reflects news that came out during premarket trading. Only a few hours ago, the company announced that it has paid its $66 million in senior secured notes back in full as of this week. This allows for the release of security interest in its assets and pledges of equity interests in its subsidiaries.
Now, it states that it can mover forward with the plans for its TurnOnGreen Inc. electronic vehicle charging and power solutions company. With this exciting news in mind, it’s clear that Bitnile is highly popular right now. Considering that, will it be on your list of penny stocks to watch or not?
Scworx Corp. (NASDAQ: WORX)
Another sizable premarket gainer is Scworx Corp. During morning trading, WORX stock managed to climb by more than 11.8%. This comes only one trading day after shares fell by more than 12%. However, in the past five days, we’ve seen over 19% in gains with WORX stock, mostly occurring on March 22nd.
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Now, it’s very difficult to tell why WORX stock is climbing right now, however, its placement in the tech industry makes it an interesting stock to watch. SCworx offers data warehouse machine learning and AI for healthcare providers. This service has helped it to grow substantially in the past few years alongside the growth of the healthcare tech industry. So, whether this makes WORX worth adding to your penny stocks watchlist or not is up to you.
Kaixin Auto Holdings (NASDAQ: KXIN)
One of the largest gainers of the day so far is KXIN stock, which exploded by over 50% during premarket trading. This highly speculative and volatile gain comes after a six month drop of more than 60%. While many penny stocks climb without news, Kaixin announced a new order for 20,000 electric vehicles.
The order, with Beijing Camping Club Sports and Culture Communication Co. Ltd., will be worth roughly $938 million over the next five years. This is an exciting update and will give KXIN a much larger placement in the electric vehicles industry. Considering this, does KXIN deserve a spot on your list of penny stocks to buy today or not?
Which Penny Stocks Are You Watching Today?
Finding the best penny stocks to buy can be challenging. However, if we consider everything that is going open in the world, it becomes much easier to take advantage of certain events to make money with penny stocks.
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Now, because there are so many different factors all impacting the stock market simultaneously, investors need to be picky, and fully understand their trading methods. With this in mind, which penny stocks are you watching during trading today?
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