Buying Penny Stocks Today? Here’s What You Need to Know
While penny stocks and blue chips have been highly volatile in the past few weeks, we are seeing some bullish sentiment in the last week or so. Now, this bullish sentiment for penny stocks is flanked by days of major volatility and market upsets. As a result, there is a sizable amount of volatility in the stock market right now. So to understand this further, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
On February 17th, U.S. stock futures dropped during premarket trading. This is the result of two factors playing out simultaneously. On one hand, we have the Federal Reserve which plans to tighten its monetary policy and increase interest rates very shortly. And on the other hand, we have geopolitical tensions occurring with Russia and Ukraine, which have led to major market upsets in the past few trading days.
In addition to these, we are also seeing financial results from major corporations come in with less than stellar numbers. And, we also expect to see weekly unemployment numbers hit the market, which could have an impact.
So, as you can see there is a lot that is occurring simultaneously in the stock market right now. But with investors hopeful about the future of penny stocks, there is also a lot to look forward to. Considering this, let’s take a look at three penny stocks that are climbing during premarket right now.
3 Penny Stocks Climbing During Premarket Right Now
- Marin Software Inc. (NASDAQ: MRIN)
- MDJM Ltd. (NASDAQ: MDJH)
- Toughbuilt Industries Inc. (NASDAQ: TBLT)
Marin Software Inc. (NASDAQ: MRIN)
One of the largest premarket gainers today is MRIN stock. By early morning, shares of MRIN had shot up by over 20%, bringing MRIN stock to over $3.97 per share. This is a major gain and reflects two announcements from the company. On one hand, it announced that it will be releasing its quarterly earnings on February 24th.
And the big news comes as the company announces on February 16th, a new TikTok integration for businesses. On its flagship program known as MarinOne, the company will allow its customers to integrate TikTok’s ad manager. This is a major announcement as TikTok has become a hub for advertising in the past year or so. With this in mind, will MRIN be on your list of penny stocks to watch?
MDJM Ltd. (NASDAQ: MDJH)
Another big gainer of the day so far is MDJH stock. By early morning, shares of MDJH stock had shot up by over 9.75% with a five day gain of over 23%. This indicated sizable bullish sentiment especially considering its one month gain of 43%. While it’s tough to say why shares of MDJH stock are climbing right now, there are a few reasons we can look at.
For context, MDJM Ltd. is a real estate company based in China. The main reason for its recent gains however come as the company is subject to large price swings from social media. While it is tough to say that this is the cause right now, it is likely given that there is no news from the company. With that considered, will MDJH be on your penny stocks watchlist?
Toughbuilt Industries Inc. (NASDAQ: TBLT)
With a 6% gain during premarket today, TBLT is another penny stock that investors are watching right now. While many penny stocks climb without news, Toughbuilt made an exciting announcement during trading a few days ago. On February 15th, it announced that it would be engaging in a $5 million registered direct offering.
It states that these funds will be used for working capital purposes, especially as demand for its products continues to rise. While this was announced a few days ago to the dismay of investors, a 42% five day drop is likely responsible for today’s bullish turnaround. So whether this makes TBLT stock worth buying or not is up to you.
Are Penny Stocks Worth Buying Today?
With so many penny stocks to choose from right now, it can be challenging to find the best ones for your watchlist. However, because there is such a wide variety of penny stocks out there, making a list of small-caps that fit your investing profile is paramount to profiting. Considering all of this, do you think that penny stocks are worth buying today?