When searching for penny stocks to buy or penny stocks to watch, it’s good to focus on catalysts. Typically valued under $5 per share, these stocks generally attract small and new investors. Even with the glitz and glamour of massive breakouts, investing in penny stocks carries inherent risks. So staying informed on current events and developments is crucial for making well-informed decisions.

Key economic news, as we’ve seen, can significantly influence the stock market. Financial indicators like GDP, employment, inflation, and interest rates provide insights into the economy’s current status and help predict future trends. Keeping a close eye on these factors allows investors to better understand the economic landscape surrounding budget-friendly stocks.

Another critical element impacting markets is interest rates. As set by the Federal Reserve, alterations in interest rates can have significant economic repercussions. Higher interest rates make borrowing more costly for individuals and businesses, reducing spending and stunting economic growth. Conversely, lower interest rates can stimulate spending and accelerate economic growth. Next week we’ll get the next Fed rate hike decision. Whether there’s a 25 basis point hike, 50-point jump, or left unchanged could set the tone for the next several weeks.

However, regarding cheap stocks, company-specific news can serve as the primary catalyst above all other factors. Information about earnings, mergers, acquisitions, or product launches can dramatically impact a company’s valuation. Positive news, such as robust earnings, can drive stock prices up, while negative information, like poor earnings or legal issues, can cause prices to plummet.

Penny Stocks To Watch

When making investment decisions, it’s never a bad idea to assess the credibility of news sources. Some sources may have ulterior motives, like promoting favorable data for a specific company. As an investor, carefully evaluate a source’s trustworthiness before relying on it for decision-making purposes. This article examines several penny stocks with significant news that has captivated the stock market’s attention this week.

Sidus Space (SIDU)

penny stocks to buy Sidus Space SIDU stock chart

Shares of “Space-as-a-Service” company Sidus Space saw prices surge during Thursday’s premarket session. Since the end of February, SIDU stock has traded in a range of roughly $0.60 and $1. For those looking at basic technical levels, the 50-day moving average on the SIDU stock chart has remained a sticking point. The last time the stock was able to brake and hold above this level for more than a few days was last summer.

Best Penny Stocks To Buy Now: 3 To Watch Before Next Week

Sidus was recently awarded a $2.5 million project for The Netherlands Organization for Applied Scientific Research. The two will test the Organization’s laser communications technology on a Sidus LizzieSat satellite. It also signed an agreement with SpaceX to launch on Transporter missions manifested for 2024 and 2025.

SIDU Stock News

This week, SIDU stock news continued flowing, which added to the bullish sentiment in the stock market today. Sidus reported its 2022 financial results showing annual revenue up 418% and Annual Gross Profit up 429% compared to 2021.

“With multiple LizzieSat satellites expected to be in low earth orbit (LEO) by 2026, we believe our disruptive flexible SmallSat constellation infrastructure will make space-based data more accessible for everyone including non-traditional industries…Our fleet of LizzieSat satellites will be capable of hosting a range of sensors for a variety of customer missions and collecting data and providing actionable intelligence for multiple industries,” explained CEO Carol Craig.

OKYO Pharma (OKYO)

penny stocks to buy OKYO Pharma OKYO stock chart

Biotech penny stocks have been strong over the last several weeks regarding daily trends. While the sector as a whole may be lower thanks to broad market selling pressure, there are pockets of momentum. OKYO Pharma is one of the biotech stocks experiencing long-awaited bullishness after shares slipped lower this week.

The company is developing treatments for indications, including dry eye disease. After a big move to highs of $7 a few weeks ago, OKYO stock has been a focus of retail traders. News of a $5.3 million raise is one of the proponents of the recent selling, but another update this week seems to have helped shares make an about-face.

OKYO Stock News

OKYO Pharma announced details regarding the Phase 2 trial of its OK-101 dry eye disease treatment. The company announced that the planned trial evaluating the efficacy and safety of the therapy was posted on the ClinicalTrials government website. It anticipates the first-patient first-visit initiation early next quarter with topline data in Q4.

Lipella Pharmaceuticals (LIPO)

penny stocks to buy Lipella Pharmaceuticals LIPO stock chart

Continuing the excitement in the biotech space is Lipella Pharma. The company develops drugs from reformulated active agents in existing generic drugs. It optimizes these reformulations for new applications. Its current therapeutic focus is on moderate to severe hemorrhagic cystitis patients.

LIPO Stock News

This week Lipella announced that it successfully completed a Phase 2A clinical trial evaluating the safety and efficacy of its LP-10 hemorrhagic cystitis treatment candidate. It received Orphan Drug Designation from the FDA, and results from the recent trial will be presented at the American Urological Association Annual Meeting on April 30th.

Navigating Volatile Penny Stocks: Essential Tips for Investors

Inhibikase Therapeutics, Inc (IKT)

penny stocks to buy Inhibikase Therapeutics IKT stock chart

IKT stock has performed well since the start of the year. Inhibikase Therapeutics, Inc. has significantly focused on advancing its pipeline of candidates targeting Parkinson’s & Parkinson’s-related disorders. This week the company announced interim data from a portion of its ‘501’ bioequivalence study of the company’s IkT-001Pro for patients with Chronic Myelogenous Leukemia. This could be an important study to follow if IKT stock is on your list. The company said it remains on track to complete the 501 trial in the second quarter of 2023.

IKT Stock News

News flow continued on Thursday. Inhibikase announced that it would host a virtual R&D event next week. It features presentations and Q&A sessions with executive leadership team members to discuss clinical updates and potential milestones. If IKT stock is on your list, mark March 22nd on your calendar. Inhibikase will begin its presentation at 11 am ET.

List Of Penny Stocks

  1. Sidus Space (NASDAQ: SIDU)
  2. OKYO Pharma (NASDAQ: OKYO)
  3. Lipella Pharmaceuticals (NASDAQ: LIPO)
  4. Inhibikase Therapeutics, Inc (NASDAQ: IKT)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

GT Biopharma Announces the Appointments of Gregory Berk, M.D. to Chief Medical Officer and Jeffrey S. Miller, M.D. to Consulting Chief Scientific Officer

BEVERLY HILLS, Calif., April 26, 2021 /PRNewswire/ — GT Biopharma, Inc. (NASDAQ:…

Analysts Like These 5 Penny Stocks; Do You?

5 Penny Stocks To Watch According To Analysts

Revive Therapeutics Announces Submission of IRB Approval for Phase 3 Clinical Trial Protocol for Bucillamine in COVID-19

Revive to also explore FDA Expanded Access Program (Compassionate Use) for Bucillamine in COVID-19

What Are The Best Penny Stocks To Watch In April 2020? Start Here

With gold prices surging past $1,600 in April the bullish case for…