Buying Penny Stocks Today? Here’s What You Need to Know
Buying penny stocks involves understanding what is going on in the market daily. Because penny stocks are so speculative, they tend to react heavily to any and all news that comes out. So, to make money with small-caps, investors need to understand both current events and how to take advantage of them. 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 morning trading on February 16th, stock futures were down slightly as tensions in Ukraine continue to cause upsets. In addition, investors are waiting on minutes from the January Fed meeting.
Additionally, in premarket, we saw shares of Roblox Corp. (NYSE: RBLX) drop by roughly 17% as its earnings came out below expectations. Today, we should also see the U.S. Census Bureau’s data on retail sales for January 2022. The current consensus puts it at a YoY rise of around 2% which would be a large jump over December.
And, if they are positive, it could help to curb fears surrounding the near term future of the economy. So with all of this in mind, let’s take a look at three penny stocks that are climbing during premarket right now.
3 Penny Stocks Climbing During Premarket Right
Hookipa Pharma Inc. (NASDAQ: HOOK)
During premarket, shares of HOOK stock managed to shoot up by over 50%. This is a substantial increase and represents almost $0.70 added in value to the company. In addition, this move follows a five day gain of around 3.8%, showing that bullish sentiment could be returning to the company. While we do see large gains like this without news, Hookipa made an exciting announcement at the end of the day on Tuesday, February 15th.
It stated that it has amended its collaboration and license agreement with Gilead to develop immunotherapies for HIV. This would include a $$15 million initiation fee and a $35 million equity commitment from Gilead. All of this is exciting news and shows why HOOK stock is climbing right now. With this in mind, will it be on your list of penny stocks to watch?
Team Inc. (NYSE: TISI)
Another sizable premarket gainer today is TISI stock, which shot up by over 19%. While this may seem like a lot, in the past five days, shares of TISI have shot up by almost 90%. The most recent news from Team Inc. came on February 11th.
On the 11th, the company stated that it has replaced its $150 million ABL facility with a new $165 million ABL credit facility. With this extra capital, the company should be able to continue to grow its operations into the future.
“We are pleased to have refinanced our capital structure, achieving one of our near-term capital strengthening priorities.”The CEO of Team Inc., Amerino Gatti
This is big news for the company and is worth considering if you plan to add TISI stock to your penny stocks watchlist.
Vinco Ventures Inc. (NASDAQ: BBIG)
BBIG stock is a penny stock that we have covered numerous times over the past few months. And with a 6.2% premarket gain today, it is once again on the radar. In the past five days, shares of BBIG stock have shot up by over 16%, which is no small feat. However, the latest news from the company came this morning. It stated that it has completed the acquisition of AdRizer, which is an AI-powered audience acquisition and revenue attribution software.
“With the AdRizer acquisition complete, we are now focused on deploying AdRizer’s technology platform to monetize the content creation and streaming capabilities of the Lomotif short form video app through digital advertising.”The CEO of Vinco Ventures, Lisa King
BBIG stock has continued to make headway in the past few weeks, and this is another example of that. With this in mind, do you think BBIG stock is worth buying or not?
Are Penny Stocks Worth Buying Today?
If you’re looking for penny stocks to buy, there are hundreds of options to choose from. Because of that, it all comes down to understanding which ones have value now, and which ones could have value in the future.
With small-caps, profitability is all about using information to your advantage. So, with this in mind, which penny stocks are on your buy list right now?