3 Penny Stocks That Are Climbing During Today’s Trading Session
After a week or so of less than stellar trading patterns for penny stocks and blue chips, today is a better day in the stock market. By mid-day trading, the S&P 500 pushed up by around 550 points, presenting a significant bullish move.
And, we witnessed reports showing the U.S. GDP climbing in the last few months of 2021 above expectations. Right now, the major focus of the stock market is the Fed monetary policy. And although Fed Chair Jerome Powell stated that inflation could continue to rise, investors seem more comfortable with the future.
“While offering some clarity on how the Fed would begin the process of removing policy accommodation, the outcome of the meeting fell short in providing the needed guidance on the timing and magnitude of the shift in policy.”A Senior Investment Strategist for Allianz Investment Management, Charlie Ripley
So, as you can see, there is a lot to keep track of in the stock market right now. And because of this, having a consistent and well-thought out trading strategy is more important than ever. With that in mind, let’s take a look at three penny stocks to add to your watchlist right now.
3 Penny Stocks to Add to Your Watchlist Right Now
Ambev ADR (NYSE: ABEV)
One of the decent gainers of the day so far is Ambev ADR. By midday, shares of ABEV stock had climbed by over 4% to around $2.86 per share. This brings ABEV stock’s five day gain to over 7.3%. Now, there is no news that is sparking today’s gain with Ambev, however, we can look at some older announcements to see what is going on with the company.
In the past year or two, Ambev has been affected by the Brazilian economy and its troubles during the Covid pandemic. And although the company has managed to potentially increase its revenue in the fourth quarter, it still has a long way to go to get back on track. But, as a major distributor of alcoholic beverages, we tend to see rises in demand in both times of economic turmoil and prosperity.
Additionally, because of the sheer number of high popularity brands that ABEV represents, it offers a diversified way to invest in the beverage industry at large. So, while ABEV stock may be highly volatile, there could be potential in either the short or long term future of the company. But, investors should make sure to keep a close eye on it moving forward.
Immix BioPharma Inc. (NASDAQ: IMMX)
While IMMX stock was up by over 10% in early morning trading, shares corrected to a 4% gain or so by midday. This is still substantial and is worth taking a closer look at. In the past month, shares of IMMX stock have jumped by over 12%.
Despite a major week long rise of around 100% at the beginning of the year, shares have corrected since. So, what’s the deal with Immix BioPharma? Well, the main news for the company right now is its IMX-110/Anti-PD01 Combo therapy. The company recently stated that this therapy increased survival in a pancreatic cancer mouse model.
“This data highlights why we are excited to collaborate with BeiGene on our planned 2022 Phase 1b/2a combination trial of IMX-110 + BeiGene anti-PD-1 tislelizumab in advanced solid tumors. We believe this upcoming combination clinical trial will allow us to expand into multiple oncology indications rapidly.”The CEO of Immix BioPharma, Ilya Rachman
This is very exciting news for the company and could indicate sizable long-term growth prospects if all goes according to plan. Moving forward, the company plans to initiate a Phase 1b/2a trial this year in advanced solid tumors. Whether this exciting news makes IMMX stock worth adding to your list of penny stocks to watch or not is up to you.
Transocean Ltd. (NYSE: RIG)
At one point in the trading day, shares of RIG stock had climbed by over 3% before falling to a slight loss at midday. In the past month however, shares of RIG have climbed by over 8.3% to north of $3.33 right now. Now, it’s tough to say why Transocean shares are moving right now outside of a general bullishness on the energy industry. The most recent news from the company came last week when it announced the drilling of a new injection well via its contract with Equinor.
“We are proud to participate in this important carbon capture and storage project in support of the EU’s energy policy and climate objectives. Beyond our core business of drilling ultra-deepwater and harsh environment wells, this is an excellent example of how we can further leverage our rigs and core competencies.”The VP of Human Resources as Transocean, Janelle Daniel
With the energy industry, it is crucial to consider the pandemic and its effects on energy consumption. So, if you’re looking at RIG stock, keeping an eye on Covid related facts is important. With that considered, will RIG be on your penny stocks watchlist next month or not?
Which Penny Stocks Are You Watching Right Now?
When it comes to finding penny stocks to buy right now, there are hundreds of options to choose from. Now, it can seem difficult to do so give the sheer number of factors that are impacting the stock market, however, with the right research, it can be much easier. When it comes to penny stocks, the trader with the most information on hand, will always be at an advantage.
And with the power of the internet, anyone can be informed as to what is going on with penny stocks or blue chips. On top of this, having a consistent and well thought out trading strategy will always be a major benefit. So, with all of that in mind, which penny stocks are you watching right now?
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