Buying Penny Stocks Today? Here’s What You Need to Know
As another interesting day of trading penny stocks gets off, there is a lot for investors to consider. Right now, there are several factors impacting the trajectory of both penny stocks and blue chips. And, because the stock market continues to rear its volatile face, there is a lot that investors need to know. Considering that, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Right now, we are witnessing stocks drop amid news of a Russian attack on a Ukrainian nuclear plant. News recently dropped that Russia had seized one of the largest nuclear plants in Europe, causing the stock market as a whole to fall significantly.
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This is occurring despite positivity surrounding a better-than-expected jobs report that shows the labor market could be recovering right now. In addition, we saw the price of assets such as bonds and gold, climb, as investors continue to look for safer choices in the market.
While there are plenty of penny stocks that are climbing despite this, there is still a sizable amount of volatility to consider. So, with that in mind, let’s take a look at three penny stocks that are gaining during premarket right now.
3 Penny Stocks Gaining During Trading Right Now
- VEON Ltd. (NASDAQ: VEON)
- Grab Holdings Ltd. (NASDAQ: GRAB)
- Statera Biopharma Inc. (NASDAQ: STAB)
VEON Ltd. (NASDAQ: VEON)
One of the biggest gainers during morning trading is VEON stock. By early morning, shares of VEON had climbed by over 46%, which is no small feat. This is a sizable gain and reflects news that came out yesterday regarding the company. It stated that it has paid off over $400 million worth of debt that was due this month.
And although the company is not in a tough financial position, this is a positive sign for investors to consider. One of the issues with VEON is that a large portion of its revenue comes from customers in both Russia and Ukraine. So, large sanctions could continue to have a major effect on the company. With this in mind, will VEON be on your penny stocks watchlist?
Grab Holdings Ltd. (NASDAQ: GRAB)
Another major gainer during trading today is GRAB stock. By midday, shares of GRAB had climbed by over 13% to more than $3.72 per share. This comes only a day after GRAB stock shares plunged by almost 40%. So, it’s likely that today’s gain is a bullish reversal of that. But, why are shares of GRAB stock moving in the first place?
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In its latest fourth quarter report, the company posted disappointing results. This included its revenue falling by 44% to $122 million. However, the company did see gross merchandise volume increase by 26%, which is a substantial metric. But, the revenue figure is still highly disappointing. With that in mind, will GRAB be on your list of penny stocks to watch?
Statera Biopharma Inc. (NASDAQ: STAB)
During morning trading, shares of STAB stock climbed by over 13%. This is a sizable gain and comes after a six month drop of more than 80%. While trading for STAB stock has been mostly bearish during that time, we have begun to see a small bullish turnaround as of late.
The main reason for its recent momentum comes as the company recently announced the submission of a pilot study protocol for STAT-205 for treating post-acute or long-haul Covid-19. The company states that this is a major milestone for it, and should help it to move quickly toward its goal of developing a Covid-19 drug. Whether this makes it worth buying or not is up to you.
Which Penny Stocks Are You Buying Right Now?
Finding penny stocks to buy right now can be challenging. But, because there is so much going on in the stock market, it is much easier than previously imagined.
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Now, which penny stocks you will choose for your watchlist remains up to you, however, understanding what your tolerance for risk is and which penny stocks are worth it, is crucial. Considering that, which penny stocks are you buying right now?
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