The broader stock market continues to be in turmoil and volatility has been the result. For penny stocks, however, that’s nothing new. The “old dogs” of this arena know volatility all too well and when it comes to penny stocks to buy, that’s what makes money. Honestly, if you ask most people, “what are penny stocks,” a few things will come to mind. The more popular is that these tiny stocks can turn small sums into big windfalls within a matter of hours.
This morning the market has followed through with even more uncertainty. There’s political unrest overseas, trade worries persist, and now bond yields are shaking up the market. A few sectors are obviously in focus. Gold stocks certainly have done well, historically in climates like this. But in general, when it comes to finding penny stocks to buy, momentum and penny stock news are key. This being said, here are 3 penny stocks to watch that are moving early on Tuesday.
Is ToughBuilt Industrials (TBLT) A Penny Stock To Buy Today?
The build tool and accessories maker has been on the rise since late June. In fact, after hitting 2019 lows of $0.2725, ToughBuilt (TBLT – Stock Report) stock has scrambled to highs of $0.70 as of Monday’s after-hours trading session. Though there hasn’t been much penny stock news from this company, ToughBuilt has benefited from a rise in the industrials sector. The construction industry continues to grow and add jobs. This has likely helped companies like ToughBuilt to strive.
During Tuesday’s premarket session, TBLT stock is off and running again. It pulled back slightly from its post-market high of $0.70 on Monday. However, with the stock still hovering between $0.65 and $0.68 before the bell, will it be one of the penny stocks to buy on Tuesday and possibly later on in August?
Biocept (BIOC): A Biotech Penny Stock To Buy Or Sell Today
As with many biotech stocks, Biocept (BIOC – Stock Report) has seen an immediate reaction from penny stock news on Tuesday. The company announced that it had been awarded 3 patents in the US, Canada, and Europe. The patents cover a range of cell and molecule capture methods. Biocept also reported its quarterly earnings after the market on Monday.
This mix of results and favorable patent news has seen BIOC stock jump as high as $1.20 over the last 24 hours. During the premarket session on Tuesday, Biocept is seeing above-average trading volume. However, you should pay attention to the fact that its share price as consolidated considerably from its post-market price Monday afternoon. Right now, BIOC is trading just slightly higher than where it closed its previous session
Ideanomics (IDEX) Penny Stock News Sparks Early Momentum
FinTech company Ideanomics (IDEX – Stock Report) came out with joint-venture news this morning that has sparked up some excitement. In a deal between the company and iUnicorn, the two firms sold the first order of e-Taxis in China. Now “e-taxi” isn’t like “email”; these are physical taxis. The difference here is that they are energy taxis.
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Thanks to this news and a steady climb over the last few weeks, IDEX stock has jumped to highs of $2.18 before the opening bell.
“We are extremely excited to have the joint venture with iUnicorn up and running so quickly after signing our agreement to work together. I was able to spend time with the founder and Chairman of iUnicorn recently, and it was obvious from our discussions that we share the same view of the new energy transportation space and how we could add value to large-scale initiatives such as the one for the City of Chengdu.”
Alf Poor, CEO of Ideanomics
