Buying Penny Stocks Today? Here’s What You Need to Know
With another potentially volatile day of trading for penny stocks and blue chips, there is a lot for investors to consider. However, understanding what is going on in the stock market and how to take advantage will always be crucial.
Right now, the largest impacting factor continues to be the conflict between Russia and Ukraine. And with no end in sight, it appears as though this is definitely worth considering. For that reason, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
As stated earlier, the largest factor on the stock market is the conflict between Russia and Ukraine. During premarket, futures were mostly flat following one of the worst trading days in over a year. And in line with this, we’re also seeing the price of oil continue to climb substantially, with WTI crude jumping today.
On Tuesday, WTI hit a high of over $125 per barrel, which its highest level in over ten years. Globally, the world has set its sights on Ukraine where over 2 million refugees have recently departed. And, with President Xi Jinping of China calling for ‘maximum restraint’ in Ukraine, this conflict is only continuing to go on. So, with that considered, let’s check out three penny stocks that are gaining during trading right now.
3 Penny Stocks Gaining During Trading Right Now
- Camber Energy Inc. (NYSE: CEI)
- Mullen Automotive Inc. (NASDAQ: MULN)
- Nine Energy Services Inc. (NYSE: NINE)
Camber Energy Inc. (NYSE: CEI)
One of the biggest gainers during early morning trading right now is Camber Energy. By market open, shares of CEI stock had shot up by over 28% to more than $1.65 per share. This adds to its five day and one month gain of over 80% and more than 135% respectively. So, why are shares of CEI stock climbing right now?
Well, the main reason comes as many energy penny stocks have been shooting up in the past few weeks. As a result of the conflict between Russia and Ukraine, the price of oil and gas has exploded during that time. And as a leading name in the small-caps energy sector, Camber is subject to high volatility because of this. So, whether this makes CEI stock worth adding to your list of penny stocks to watch, is up to you.
Mullen Automotive Inc. (NASDAQ: MULN)
Another decent gainer during morning trading is MULN stock. By market open, MULN stock had climbed by over 11% and since February 22nd, by over 75%. It’s worth noting that during the past few weeks, we’ve covered MULN stock numerous times due to its consistently trending nature and large moves. Before going any further, it’s worth considering that MULN stock is extremely volatile.
However, the main catalyst for its recent price moves comes as the company made an exciting announcement at the end of February. It stated that it has made significant progress on the development of its solid-state polymer battery pack. The company announced that this battery pack could have a range of up to 600 miles with 300 miles of that coming from 18 minutes of charge time. Considering this, is MULN going to be on your penny stocks watchlist?
Nine Energy Services Inc. (NYSE: NINE)
One of the largest gainers during premarket trading is NINE stock. During that time, shares of NINE stock exploded by over 117% to more than $7.81 from its $3.59 close the day prior. This is a staggering gain and adds to its five day uptick of over 199%. So, what’s the reason for NINE stock’s meteoric rise in the past few days?
Well, aside from the overarching theme of positivity surrounding the energy sector, the company reported its Q4 2021 financial results yesterday. In the report, it announced a liquidity position of more than $64 million with over $105 million in revenue. This beat out its original revenue guidance and represents an increase over the previous quarter of 13%. With the oil industry continuing to see prices climb, is NINE stock worth watching?
Which Penny Stocks Are You Watching Today?
Finding the best penny stocks to buy can be challenging. With so many penny stocks to choose from however, finding ones that could be valuable is much easier than previously imagined. Considering all of this, which penny stocks are you watching today?