3 Penny Stocks That Popped During Trading Today
While the stock market remained more or less flat during morning trading, many penny stocks managed to push up. Right now, there is a lot of fear surrounding Covid and the resurgence of cases as a result of the Delta variant. And while these fears are warranted, they have left a lasting impact on the stock market in the past few months.
So, as investors work to overcome these larger market swings, many have turned to penny stocks for their short-term gaining potential. Because of this, we are seeing high volume and high potential on the long list of penny stocks to watch. In August 2021, investors are focused on a few industries in specific. This includes biotech, reopening businesses, tech, and more. However, these three alone have served to ignite a bullish wave among traders.
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Investors should keep in mind that volatility is very high right now. But, if you have a proper trading strategy on hand, this can be used as an advantage. Considering all the excitement in the market right now, it could be a good time to find the best penny stocks to buy. Keeping that in mind, here are three penny stocks to watch that exploded today.
3 Penny Stocks That Exploded in Value Today
- Imv Inc. (NASDAQ: IMV)
- Dynatronics Corp. (NASDAQ: DYNT)
- Pixelworks Inc. (NASDAQ: PXLW)
Imv Inc. (NASDAQ: IMV)
Up by almost 30% at midday are shares of IMV stock. In the past five days, shares of IMV have shot up by almost 40%, putting its price at just under $2.20 per share. To understand why IMV stock spiked today, we have to take a closer look at its business and at the announcement, it made during early morning trading. Imv is a clinical-stage biopharmaceutical company working on improving the efficacy of immunotherapy. It does this to treat cancer and other diseases that may have a clinically unmet need.
The company utilizes its cancer immunotherapy based on its proprietary delivery platform known as DPX. With this, it is working on its lead candidate known as maveropepimut-S (MVP-S), which activates T-cells to treat cancer. Today, the company announced the final topline results of its DeCidE1 Phase 2 clinical trial of MVP-S in ovarian cancer.
“The overall results obtained from the DeCidE1 trial are very promising. Treatment was well tolerated with an overall survival rate of 44.9% at 23.8 months of follow-up and a median overall survival of 19.9 months. These results are particularly encouraging because many subjects in the trial had been heavily pre-treated and 57.9% were platinum-resistant.”
The Principal Investigator of the study and Director of Gynecologic Oncology Service at Stanford University, Dr. Oliver Dorigo
Data like this is always encouraging for companies and investors alike. And considering the results of this trial, this could be big news for Imv Inc. moving forward. Whether this makes it worth watching or not is up to you.
Dynatronics Corp. (NASDAQ: DYNT)
Another big gainer of the day so far is Dynatronics Corp., pushing up by over 21% or so. In the past month, that number jumps to over 32% and YTD to almost 100%. If you’re unfamiliar, Dynatronics is a medical device company that works on restorative products. These products are sold to optimize health and include customers such as hospitals, clinics, chiropractors, rehab centers, and more.
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Interestingly enough, Dynatronics is also fully vertical, which means that it designs, manufactures, and sells all of its products. In its lineup, it offers brands such as Bird & Cronin, Solaris, Hausmann, Physicians Choice, Proteam, and more. Today’s gain for DYNT stock is a direct result of its preliminary fourth-quarter 2021 results.
“Customer and dealer reaction to Dynatronics’ optimization has been strong and early results have exceeded our base case expectation. We are continuing to validate our value proposition to our customers as we set up for a future of sustainable long-term growth and increased shareholder value.”
CEO of Dynatronics John Krier
In the results, the company stated that net sales came in at around $12.1 million and that its cash position increased by around 175% from June 30th, 2020. While these are preliminary results, they do look like exciting numbers to keep in mind. Considering all of this, is DYNT stock worth adding to your watchlist or not?
Pixelworks Inc. (NASDAQ: PXLW)
The final big gainer of the day so far is PXLW stock, pushing up by around 15% at midday. Since July 27th, shares of PXLW have climbed by over 30% which is no small feat. Today’s gain comes on the heels of Pixelworks Q2 2021 earnings call which is scheduled to begin at 5 PM EST. Ahead of this, let’s talk about what Pixelworks does and whether it’s worth looking into.
Pixelworks is a provider of content creation, video delivery, and display processing solutions. It offers these products for a wide variety of screens including cinemas, smartphones, and eventing in between. Its image processing innovations have made it one of the true leaders in the entertainment industry over the past twenty years.
One of the reasons that investors are watching PXLW stock right now is its potential as a reopening penny stock. These are stocks that could benefit from economic reopening in the U.S. and abroad. While the in-person entertainment industry suffered during the past year and a half, it has begun to spring back in recent months.
With high vaccination rates, more people are turning to in-person viewing events than in recent months. And as a result, Pixelworks could benefit. In addition, its industry-leading image processing technology is incorporated in a large range of tech products, including the ASUS Zenfone 8 series. All of these exciting factors come together to show that PXLW could have potential in the coming future. Whether or not it’s worth adding to your list of penny stocks, however, is up to you.
Are These Big Gaining Penny Stocks Worth It?
Looking at the biggest gainers of the day is a great way to begin forming a penny stocks watchlist. However, it’s worth noting that just because a penny stock gained during intraday trading, does not mean that it is worth investing in.
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Rather, investors should do the proper research into the company to find out that information for themselves. With all of this in mind, do you think that these big gaining penny stocks are worth it or not?
