Buying Penny Stocks Today? Are’s What You Need to Know
With trading penny stocks and blue chips getting off to an interesting start, many traders are fearful about the future. There is a lot going on in the stock market and this means that volatility is extremely high.
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In the past few trading days, we’ve seen the market be mostly negative with the dow dropping by hundreds of points during any given trading day. And, with the market turning around slightly today, those who invest in penny stocks are excited about the coming weeks. 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
While stock market futures were down during early morning trading, around an hour before market open, they turned around. News reportedly came that Russia may be open to negotiations with Ukraine after China suggested it do so. With the Russian stock market falling by more than 40%, it makes sense that the country would work to regain its economic standing.
While sanctions have hit the country hard, the U.S. has yet to impose the worst of its sanctions that would essentially sever Russia from the world economy. So, as far as penny stocks are concerned, there are plenty that are worth keeping an eye on. Because of this, let’s take a look at three that are gaining during premarket right now.
3 Penny Stocks Gaining During Premarket Right Now
- Cyren Ltd. (NASDAQ: CYRN)
- Mullen Automotive Inc. (NASDAQ: MULN)
- Universal Security Instruments Inc. (NYSE: UUU)
Cyren Ltd. (NASDAQ: CYRN)
One of the larger premarket gainers so far is CYRN stock. During morning trading, shares of CYRN stock shot up by over 20% adding to its five day gain of over 70%. The big news for Cyren right now came this morning as it reported that it had regained compliance with the NASDAQ listing requirements.
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This comes only a few weeks after it instituted a $12 million private placement as well as a reverse split. So, it appears as though all of these capital raising measures have helped to bring the company above the $1 price limit for the NASDAQ. With that in mind, will it be on your list of penny stocks to watch?
Mullen Automotive Inc. (NASDAQ: MULN)
Another major premarket gainer right now is Mullen Automotive, with shares climbing by over 14%. This follows a major bearish path that has seen MULN stock drop by over 94% in the past six months. And as a result of its recent movement in the past few days, many investors are watching MULN stock right now.
The most recent news from the company came yesterday when it announced that it was featured by WardsAuto. This is a publication dedicated to the automotive market, and it discussed the groundbreaking work that Mullen is doing. With this considered, is MULN stock worth adding to your penny stocks watchlist?
Universal Security Instruments Inc. (NYSE: UUU)
During morning trading, shares of UUU stock shot up by over 30% to more than $3.95 per share. This is a substantial gain and adds to its five day gain of over 10%. While many penny stocks climb with little to no news, the company made an exciting announcement a few hours before market open. It stated that it has entered into a definitive merger agreement with Infinite Reality Inc.
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The goal is to grow Infinite Reality’s entrance into the meta verse with strategic opportunities for USI as well. This is an exciting update and will give Infinite Reality shareholders 97% of the outstanding shares of UUU. The pair state that it will complete the merger by the second quarter of this year, and USI will be renamed Infinite Reality Inc. considering that, do you think UUU stock is worth buying or not?
Which Penny Stocks Are You Watching?
With the market ready for another day of volatile trading, there is a lot for investors to know right now. But, staying up to date with all the latest news and events will continue to be your best chance at making money with penny stocks. With this in mind, which penny stocks are you watching today?
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