Are These Pre Market Movers On Your Penny Stocks List Today?
Looking for top penny stocks and some premarket movers today? Some platforms may limit your access to trading during premarket. However, there are ways to at least look at the stock market before the opening bell. In many cases, traders will use premarket movers as a gauge of where to focus at the open. It’s important to note that even if there are penny stocks making big premarket moves, they may not continue that trend when the bell rings. How many times have you seen certain stocks gapping up in the morning only too look at them at the end of the session, down 50% from premarket highs.
Unless you know how to trade penny stocks during off-market hours, it can be difficult to trust a premarket mover when the market opens. Many times traders already in the stock will use this gap up as an opportunity to sell into strength. The goal is to make money with penny stocks, of course. So anyone in that situation is likely going to use this momentum to their advantage.
This isn’t to say that all penny stocks that are premarket movers break down during regular market hours. Some, in fact, end up gapping and going higher. Others might see an initial morning pullback, only to reverse this trend and head higher later in the session. Then, of course, we have the pre market movers that completely break down later on.
This is the beauty of penny stocks and you need to weigh risk and reward for each trade. No one likes holding a bag. So if you’re looking for premarket movers, do some extra research and plan out your trade. With this in mind, here are some of the top penny stocks during Monday’s premarket session. Will they continue pushing higher today?
Top Penny Stocks To Watch: Lipocine Inc.
Lipocine Inc. (LPCN Stock Report) started to surge during premarket hours following its latest update. The company announced that the last patient was enrolled in its LiFTPhase 2 clinical study. This is a paired-biopsy study investigating the company’s LPCN 1144 in confirmed non-cirrhotic non-alcoholic steatohepatitis subjects. LPCN 1144 is an oral prodrug of endogenous testosterone.
The company has reported that LPCN 1144 previously showed meaningful reductions of liver fat in a proof of concept liver fat imaging study. Specifically, this was in hypogonadal males and demonstrated treatment potential in a pre-clinical NASH and hepatic fibrosis rabbit model. Lipocine also noted that there weren’t any meaningful tolerability issues seen in 700+ hypogonadal subjects with up to 52-week exposure. The company expects top-line data in January.
If LPCN stock is on your list right now, you should also keep something else in the back of your head. Back in August, the FDA said it needed more time to review the company’s New Drug Application for its TLANDO treatment. We’ve covered this company for a while now and this NDA was a big point of focus earlier this year. “Although the FDA did not provide a timeline on a new action date, the FDA informed the company that the review is expected to be completed in the coming weeks,” Lipocine said in an August 28th PR.
Top Penny Stocks To Watch: Genius Brands International Inc.
We’ve also previously reported on Genius Brand International Inc. (GNUS Stock Report) this year. While that initial run was a huge move from under $0.30 to over $11.70, the last few months haven’t been as exciting. In fact, GNUS stock has pulled back significantly, however, the recent trend has been a bit more bullish. Late in the Friday afternoon session we saw GNUS begin surging.
The entertainment company had recently announced the launch of the new Kartoon Classrom! This is the company’s stand-alone segment of its popular Kartoon Channel! While that was older news, Kartoon Channel! itself has been a key point of interest for the market. This week, its entertainment portfolio remains in the spotlight after Genius’ latest update. The company announced the fall premiere of a slate of new episodes of its flagship animated preschool series, Rainbow Rangers, beginning October 11, 2020.
Specifically, Rainbow Rangers will debut on Nick Jr.’s “Sunday Girls Rule” block at 11:00 a.m. In addition to Nick Jr., the show will also air around the world on a number of networks. Jess Brinder, Vice President of International Distribution, said, “The support from Nick Jr. since the launch of Rainbow Rangers in 2018 has been amazing, and the upcoming October premiere dovetails nicely with the launch of our first toy line from Mattel in Walmart stores.”
GNUS stock has a history of premarket gaps that end up selling off during market hours. Will that be the case again today or has this news triggered a trend reversal for the penny stock?
Top Penny Stocks To Watch: IZEA Worldwide Inc.
IZEA Worldwide Inc. (IZEA Stock Report) has been stuck in a sideways trend for the last few weeks. Something to take notice of, however, is that IZEA stock seems to have settled down around a similar support level it was at back in July. Shares of the penny stock have held above $0.90 for the last few weeks and on Monday, began climbing above $1 during premarket hours.
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What seems to have become an early catalyst is the company announced that it will give details later today related to new initiatives. Mainly, the details are specific to a “global alliance”. The company said it will also follow up later on with further press releases distributed and updates via social media and its website.
IZEA has become somewhat of a cult stock over the last few months. The company is an influencer marketing firm and has been beefing up its platform recently. Last month, the company added NFL and NBA athletes to its IZEA Shake platform. Today’s update will offer further details at 12PM EST. So for now, we’re seeing this as one of the premarket movers on Monday morning. Will this trend continue into the regular session?