Buying Penny Stocks Today? Here’s What You Need to Know
With penny stocks and blue chips seeing weeks of volatile trading, what do you need to know about the stock market today? Well, when it comes to trading penny stocks, it’s all about understanding exactly what factors are at play in the stock market.
And right now, there is a lot to consider. At the top, we have issues like inflation, the pandemic, interest rates, and more. And because of this, understanding daily, what is impacting both penny stocks and blue chips, is crucial. With that in mind, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today?
During premarket, contracts for several benchmarks were trading mostly flat following a less than stellar day of trading on February 7th. And, with a new inflation report coming out on Thursday of this week alongside several large corporate earnings, the turbulent market we’re seeing is likely to continue for some time.
On Monday, we saw the NASDAQ continue its bearish trend while the S&P 500 stayed near flat. As mentioned earlier, the biggest factors impacting the stock market right now are corporate earnings, inflation, and of course, the eventual interest rate rises we may see as soon as next month. And as a result, the market continues to show just how volatile it can be. So, with all of this considered, let’s take a look at three penny stocks that are climbing in premarket right now.
3 Penny Stocks Climbing During Premarket Right Now
- American Rebel Holdings Inc. (NASDAQ: AREB)
- Second Sight Medical Products Inc. (NASDAQ: EYES)
- Splash Beverage Group Inc. (NYSE: SBEV)
American Rebel Holdings Inc. (NASDAQ: AREB)
The largest gainer during premarket trading today is AREB stock. By early morning, shares of AREB shot up by over 48%, which is quite substantial. Only a few days ago, AREB announced the pricing of its common shares. It offered 2.53 million shares which raised a total of $10.5 million.
After dropping by more than 40% only a day ago, today’s gain is likely a bullish reversal for the newcomer on the scene. If you’re not familiar, AREB provides products aimed at the self-defense market such as gun safes, concealed carry products and more. So, with all of this in mind, will AREB be on your penny stocks watchlist?
Second Sight Medical Products Inc. (NASDAQ: EYES)
Another big premarket gainer is EYES stock, which shot up by over 12% during trading today. While many penny stocks climb without news, yesterday, EYES made an exciting announcement that is worth considering.
On February 7th, the company stated that it had signed into a merger agreement with Nano Precision to create a new therapeutic implant-focused company. In the deal, Second Sight will offer 134 million shares to fully acquire Nano Precision Medical. This is big news as mergers in the biotech industry always are. Considering this, will EYES be on your list of penny stocks to watch.
Splash Beverage Group Inc. (NYSE: SBEV)
With 7.7% in gains during premarket, many investors are focused on SBEV stock right now. While this may seem like a sizable gain, in the past month, shares of SBEV have exploded by a staggering 301%. The main news today comes as the company announced a distribution agreement with Anheuser-Busch distributor, Heimark. This distribution agreement concerns TapouT being distributed in Southern California.
“This latest distribution agreement marks our sixth distribution agreement since our November agreement with AB ONE, and is another example of how the credibility that partnership brought us is helping us with other distributors.”The CEO of Splash Beverage Group, Robert Nistico
Whether this makes SBEV stock worth buying or not is up to you.
Are Penny Stocks Worth Buying Today?
With so much going on in the stock market right now, it can seem difficult to find the best penny stocks for your watchlist. However, with the right information on hand, doing so can be much easier than previously imagined.
Because penny stocks move so quickly, having a well-thought-out trading strategy will always help to maximize your chances of profitability. Considering all of this, do you think that penny stocks are worth buying today or not?
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