Trading Penny Stocks Today? Here’s What You Need to Know
With another day of trading penny stocks and blue chips here and in full effect, there is a lot for investors to keep track of. While volatility remains extremely high right now, having a consistent understanding of the latest stock market news is crucial.
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With penny stocks, we see that speculation is typically very high. This means that what goes on in the stock market, will likely have a material effect on how penny stocks trade.
What’s Going On in the Stock Market Right Now
After a long weekend, Tuesday morning saw U.S. stock futures dropping with anxiety surrounding quarterly earnings on the rise. In early-morning trading, the Dow Jones Industrial Average Futures had dropped lower by around 260 points, with the S&P 500 down by around 1%.
Additionally, Goldman Sachs Group Inc. (NYSE: GS) reported its Q4 earnings, which were below analyst expectations. This makes sense, however, given the less than stellar end of year we saw in 2021.
Right now, there are also interest rate increases that investors are considering. These have sparked fear, bearish drops, and uncertainty surrounding the future of the stock market. And the bulk of this relates to the pandemic and what occurs with case numbers in the near future.
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While the market is no longer as tied to the number of cases, the after-effects of the pandemic are beginning to set in. This includes inflation, high-interest rates, and so on.
Pre-Market Penny Stock Movers
- Surgalign Holdings Inc. (NASDAQ: SRGA)
- Celularity Inc. (NASDAQ: CELU)
- Polarityte Inc. (NASDAQ: PTE)
- Opko Health Inc. (NASDAQ: OPK)
- Idera Pharmaceuticals Inc. (NASDAQ: IDRA)
Surgalign Holdings Inc. (NASDAQ: SRGA)
In early morning trading, shares of SRGA stock were up by almost 20%. This brings it to over $1 from its previous close of around $0.85. The big news for SRGA stock comes as the company announced that it had received FDA clearance for its HOLO Portal System. This is the world’s first AI-Driven AR Guidance system for spine surgery. Additionally, the company reported its preliminary Q4 2021 results, with revenue expected to be around $21.5 million.
Celularity Inc. (NASDAQ: CELU)
By 8:45 AM, shares of CELU stock had climbed by around 4.8%, signifying substantial bullish interest in the company. Similarly to SRGA, CELU announced important news regarding its NK Cell Therapy known as CYNK-101. The company stated that it has received Fast Track Designation from the FDA for this therapy in the treatment of advanced gastroesophageal junction cancers. This is great news for the company, as it can now move forward with further testing and potential commercialization in the long term.
Polarityte Inc. (NASDAQ: PTE)
One of the larger premarket gainers of the day so far is PTE stock, which shot up by around 17% in morning trading. Similar to the other two penny stocks on this list, Polarityte announced that it received FDA approval for an IND regarding its Pivotal Phase 3 Study of SkinTE. This is used in the support of chronic cutaneous ulcer treatment. With this, the company can move forward on testing for this potentially groundbreaking study.
Opko Health Inc. (NASDAQ: OPK)
With an almost 5% gain premarket trading, Opko Health is another biotech penny stock making big waves right now. Big news dropped during morning trading when the company announced that its wholly-owned subsidiary, GeneDx Inc. will be acquired by Sema4 Holdings Corp. (NASDAQ: SMFR). The deal will offer a $200 million private placement of Sema4 Class A shares from several institutional investors including Pfizer.
Idera Pharmaceuticals Inc. (NASDAQ: IDRA)
With an 8% gain during premarket, IDRA stock is another biotech penny stock that investors are watching during today’s morning trading. The news for Idera comes as the company was granted U.S. patent #11,224,611 ‘Immune modulation with TLR9 agonists for cancer treatment.’ Patents are always a major deal with biotech companies as they give the company a clear pathway to move forward. With this in mind, will IDRA be on your list of penny stocks to watch?
Are Penny Stocks Worth Buying Today?
With so much movement in the stock market right now, it can seem difficult to find the best penny stocks to buy.
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However, with the right information by your side, making a list of penny stocks to watch can be much easier than previously imagined. Considering all of the above information, do you think that penny stocks are worth buying today or not?
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