3 Penny Stocks That Are Climbing During Today’s Trading Session
If you’re looking for penny stocks that are climbing right now, there are plenty of options to choose from. However, as a result of the sheer number of penny stocks out there, investors need to be extremely picky with the ones they choose.
To understand how to make money with penny stocks, investors need to have two things. On one hand, investors need to understand how to trade penny stocks. This is crucial to knowing where to find movement and how to take advantage of it. Knowing how to trade also goes hand in hand with considering what your investing goals are and what type of trader you are.
The next aspect to understand is what is going on in the stock market. Right now, that includes the Omicron variant of Covid and economic issues in the U.S. Both of these are contributing heavily to any and all movement in the stock market right now. Because penny stocks are so speculative, news and announcements will have a major and material effect on how penny stocks trade.
3 Penny Stocks to Add to Your Watchlist Right Now
Energy Focus Inc. (NASDAQ: EFOI)
One of the biggest gainers of the day so far is EFOI stock. By midday, shares of EFOI had climbed by over 14% to just over $5 per share. This technically makes it no longer a penny stock, however, we have to consider the long-term of its price movement. In the past five days, shares of EFOI stock have climbed by over 26% which is no small feat. While this may seem like a lot, in the past month, EFOI stock has jumped by over 125%. This represents a major bullish turnaround from its previous yearly momentum.
For this reason, let’s take a look at why shares of Energy Focus are moving right now. While no news was announced during trading today, there are some recent announcements that are worth looking into. On December 14th, the company announced a $4.5 million equity offering worth 1.28 million shares at a price of $3.52. Outside of this, the company is producing tech for air purifying which could prevent Covid from circulating in the environment. Its nUVo Traveler and nUVo Tower are both products that the company is working on right now.
“As people and countries worldwide continue to battle SARS-CoV-2 and its unpredictable mutations and constantly evolving variants, we believe our patent-pending nUVo™ TRAVELER and nUVo™ TOWER provide uniquely powerful, filter-free and chemical-free air disinfection solutions to help create safer spaces—whether at home, in the office or as they travel.”The CEO and Chairman of Energy Focus, James Tu
This is big news and is keeping investors interested. With that in mind, will EFOI stock be on your penny stocks watchlist?
Meten Holding Group Ltd. (NASDAQ: METX)
With a 4% gain on December 30th, METX stock is highly in focus right now. If you’re not familiar, Meten is one of the leaders when it comes to English language training. It offers these services in China for both students and professionals.
A few months ago, China imposed a ban on for-profit tutoring, which resulted in major drops among all Chinese education stocks. Since then, the company has begun to move into other areas of business. A week or so ago, the company made a big announcement that it has established a joint venture with industry experts to create a crypto mining company.
“We are delighted with this joint venture that fits the strategy for our new blockchain and cryptocurrency business line. We believe that the cryptocurrency and blockchain industry expertise brought by Mr. Zhijun Liu, Ms. Yunning Li, and Mr. Manning Liao will be highly complementary to our new business.
We believe this joint venture will enable the Company not only to have a complete R&D, manufacturing and sales capabilities of mining equipment, but also to consolidate and expand its foundation in the mining and blockchain industry.”The CEO of Meten Holding, Alan Peng
The move into cryptocurrency is interesting and one that could be beneficial to the company. But, it will take some to see this area of it grow. Considering that, do you think METX stock is worth buying or not?
Ocugen Inc. (NASDAQ: OCGN)
Another big gainer of the day right now is OCGN stock. Today, shares of OCGN stock have shot up by over 10%. YTD, shares have gone up by over 57% and in the past year, shares of OCGN have climbed by over 145%. Right now, the main driver of price with OCGN stock right now is its Covid vaccine.
Recently, the company stated that its partner, Bharat Biotech, posted positive results regarding a trial of its Covid-19 vaccine candidate in Phase 2/3 trials in India. The company stated that the vaccine posted robust and favorable results alongside a favorable safety profile. Right now, there is a major focus on biotech penny stocks and anything relating to Covid-19.
“These data represent the first positive vaccine data in children as young as two years of age and come at an important time as COVID-19 infections are seeing a spike across the globe.”The CEO of Ocugen, Shankar Musunuri, Ph.D., MBA
This is big news for the company and could make it worth watching. Considering that, does OCGN deserve a spot on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Right Now?
With so many penny stocks to buy, investors need to have a full understanding of what is going on in the market. In addition, knowing how to trade penny stocks will be a major asset to you and your trading. Right now, this includes looking at the Omicron variant and economic issues that are ongoing in the stock market.
All of this has led to a high amount of movement in the stock market. Because of the high degree of volatility, knowing what your strategy is will be a major benefit to you. Considering all of this, which penny stocks are you watching right now?
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