3 Penny Stocks That Are Climbing During Today’s Trading Session
March is typically a month when both penny stocks and blue chips heat up after a slower investing period in the winter. And as we’ve seen, this year is no different. For savvy investors, there are already some great opportunities out there with penny stocks. But if you’re looking to really make money with penny stocks, then you’ll want to know which stocks to buy and how. Of course, this doesn’t mean that every penny stock is a good investment.
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In fact without the right research by your side, losing money is extremely common. While they may not be as stable as some blue chips, penny stocks can offer investors big gains if they catch a stock at the right time. But, if you’re looking to make money with penny stocks like we all are, it’s more important than ever to do your research before buying in. With that in mind, let’s take a look at some of the best penny stocks to watch right now.
3 Penny Stocks to Watch That Are Pushing Up Right Now
Imperial Petroleum Inc. (NASDAQ: IMPP)
One of the bigger gainers of the day so far is IMPP stock. At midday, shares of IMPP shot up by over 20% to more than $5.12 per share. While technically this means it is no longer a penny stock, it was only a day ago.
As a result, it’s worth investigating why shares of Imperial Petroleum are climbing so much. Before we go any further, in the past five day and one month period, shares of IMPP stock have exploded by over 110% and 675% respectively. During that time, we’ve covered it extensively. So, its 20% gain today while exciting, is not surprising to say the least.
The most recent news from Imperial Petroleum came on March 8th, when it announced its entrance into an agreement to acquire two M.R. refined petroleum product tankers. These tankers, will offer an aggregate capacity of 97,000 dwt, and come with a purchase price of $31 million. It states that this deal will be completed through cash-on-hand and senior secured bank debt. Aside from this, the company currently owns three M.R. refined petroleum product tankers and one Aframax crude oil tanker.
In the past few weeks, Imperial Petroleum has benefitted heavily from the recent situation regarding oil and has. Over that time, the price of oil has shot up tremendously, with prices reaching over $120 per barrel for WTI crude. So, considering all of this, do you think IMPP stock is worth buying or not?
TDH Holdings Inc. (NASDAQ: PETZ)
Another sizable gainer so far during trading today is PETZ stock. By midday, shares of PETZ stock shot up by over 14%. To understand why shares of PETZ stock are climbing, we have to take a look at its most recent announcements.
On February 25th, TDH Holdings announced the receipt of its deficiency for listing on the NASDAQ. Due to its shares being under $1, the company is at risk of being delisted from the NASDAQ exchange. For some context, TDH Holdings is a developer and manufacturer of pet food products. It offers a variety of brands that are available in China, Asia, and across parts of Europe.
While it is tough to say why shares of PETZ stock. Its latest announcement came on December 10th when it announced its first half of 2021 financial results. In the results, the company posted a revenue decrease of 52% over the first half of 2020. With a net loss of $0.94 million or $0.02, it’s clear that the company needs to get its financial situation in better standing, however, it is clear that investors are interested in it right now. With all of that in mind, do you think PETZ stock is worth adding to your penny stocks watchlist or not?
Nokia Oyj (NYSE: NOK)
Another penny stock that is climbing during trading today is NOK stock. By midday, shares of NOK stock shot up by over 4.7%. It’s worth noting that we’ve covered NOK stock several times in the past few months due to its consistent movement and trending nature. And although stares have trended downward in that time by around 16% over the last six months, it’s clear that there is some positive sentiment for the company.
The most recent announcement from the company came on March 9th. Today, it stated that it plans to return around EUR 600 million in cash to shareholders over a two year period. It will do this through a share buyback program, which will change its owned shares very quickly. Additionally, on March 8th, the company announced that it joined the 5G Open Innovation Lab to begin creating new services as a corporate sponsor.
The Founder and Managing Partner of 5G Open Innovation Lab, Jim Brisimitzis, stated “Our partner-first approach to collaborative innovation has helped the Lab standout globally, and we are humbled to have Nokia join our ecosystem as a Corporate Partner as we continue our rapid growth.”
Considering all of these exciting announcements, do you think that NOK stock is a worthwhile addition to your list of penny stocks to buy this month?
Which Penny Stocks Are You Watching Right Now?
Penny stocks can be a great investment for a number of reasons. They offer the potential for sizable returns, they’re easy to trade, and they provide opportunities for those with low budgets to make bigger returns.
If you want to start investing in penny stocks, it’s important to do your research so that you can make informed decisions. At the end of the day, whether penny stocks are worth buying or not is up to you. But, because of the opportunity that they present, there are plenty of reasons that traders choose penny stocks over blue chips. With all of that in mind, which penny stocks are you watching right now?