Buying Penny Stocks Today? Here’s What You Need to Know
With more news affecting penny stocks and blue chips right now than in many weeks prior, there is a lot for investors to consider. Of course, the major issues in the market right now include Fed interest rate hikes and the invasion of Ukraine by Russia. All of this has made the stock market incredibly volatile in the past two weeks or so. 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
Early in the trading day, the Dow was climbing on optimism that Ukraine and Russia could begin peace talks soon. And, this resulted in many investors looking for stocks that may have been beaten down during the last few weeks of trading. In addition, we’re also witnessing the after effects of President Biden’s state of the union address which was given last night.
And, with Press Secretary Psaki stating that the U.S. could sanction Russian oil, the price of WTI crude is already up 8% on Wednesday morning. So, as we can see there is a lot to keep track of in the stock market right now. With all of that considered, let’s take a look at three penny stocks that are climbing.
3 Penny Stocks Gaining During Premarket Right Now
- Guardion Health Sciences Inc. (NASDAQ: GHSI)
- Ecmoho Ltd. (NASDAQ: MOHO)
- Avenue Therapeutics Inc. (NASDAQ: ATXI)
Guardion Health Sciences Inc. (NASDAQ: GHSI)
Ahead of market open, shares of GHSI stock were up by over 25%. While this may seem like a lot, in the past five days, shares of GHSI stock have climbed by more than 44%. Much of this momentum comes as the company recently closed on an $11 million public offering. The offering contains 37 million shares of common stock at a price of between $0.30 and $0.37.
For some context, Guardion is a clinical nutrition company, working on a variety of supplement products. And, its recent bullish momentum could be attributed to a bearish drop of over 40% in the past month. With that in mind, will GHSI be on your penny stocks watchlist?
Ecmoho Ltd. (NASDAQ: MOHO)
One of the biggest gainers of the day during premarket is MOHO stock. During premarket, shares of MOHO shot up by over 100%. This comes after shares of MOHO saw a more than 20% rally only a day earlier. Now, it is tough to say why shares of MOHO stock are climbing right now, however, it did make an exciting announcement around a week ago.
The company states that it has begun increasing its digital marketing efforts to help drive growth. Through a cooperation agreement with Vitamin World, Ecmoho will provide marketing and sales for Vitamin World across different online channels. This is exciting and is likely the main reason for MOHO’s bullish momentum. Considering that, is MOHO Stock worth adding to your list of penny stocks to watch?
Avenue Therapeutics Inc. (NASDAQ: ATXI)
Another sizable premarket gainer is ATXI stock which shot up by over 7% during premarket. And if this seems like a lot, in the past five days, shares of ATXI stock have shot up by over 160%. The main reason for this gain comes as only a few weeks ago, shares of ATXI plummeted.
This decline occurred as a result of the U.S. FDA did not agree that Avenue’s drug, IV Tramadol, outweighed the risks over the benefits. With an average 65-day volume of around 700,000 shares, we have seen more than 120 million shares trade on average. So, with all of that in mind, will ATXI be on your penny stocks buy list this month?
Are Penny Stocks Worth Buying Right Now?
As we continue to move toward the rest of 2022, there is a lot for investors to consider. Because penny stocks are moving so fast, staying up to date with the latest news and events is crucial. In addition, investors need to understand exactly what is going on in the stock market and how to take advantage. Considering that, do you think that penny stocks are worth buying right now or not?