Buying Penny Stocks Today? Here’s What You Need to Know
With another volatile day of trading for penny stocks and blue chips here, there is a lot for investors to understand. Now, trading penny stocks is not easy, and this is especially true in March 2022. With a war going on in Ukraine, high inflation, and rising interest rates, there is a lot for investors to consider. But, with a full understanding of what is going on and how to trade, it can be much easier than previously imagined. Considering this, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Ahead of the market open on Friday, March 11th, futures were climbing. This is due to hopes on continued progress for talks between Ukraine and Russia. During morning trading, the Dow climbed by nearly 300 points with NASDAQ futures pushing up by around 1%.
A quote from Russian President Vladimir Putin came out with the leader stating that there have been “certain positive developments” during the recent talks with Ukraine. And although it is unclear what the effect of this will be, there’s no doubting that this is positive news.
Some early morning gainers include Guardforce AI Co. Ltd. (NASDAQ: GFAI) and Excellon Resources Inc. (NYSE: EXN), which climbed by over 65% and 82% during premarket respectively. With this in mind, let’s take a look at three more penny stocks that are gaining during trading right now.
3 Penny Stocks Gaining During Trading Right Now
- Veon Ltd. (NASDAQ: VEON)
- Surface Oncology Inc. (NASDAQ: SURF)
- Paramount Gold Nevada Corp. (NYSE: PZG)
Veon Ltd. (NASDAQ: VEON)
During premarket, shares of VEON stock shot up by over 9% to more than $0.39 per share. This brings its five day gain to more than 16% following a one month drop of over 75%. The main news for this gain comes as the company announced that its subsidiary had prepaid its $259 million loan with the Russian VTB Bank PJSC.
This means that it no longer has any commitments to VTB, which is a major positive for the company. Veon has been hit quite hard in the past few weeks as a major part of its business is in Russia. But, with this positive news, VEON stock could be worth adding to your penny stocks watchlist.
Surface Oncology Inc. (NASDAQ: SURF)
Another early morning gainer is SURF stock, which climbed by more than 5% to cover $3.04 per share. It’s tough to say why SURF stock is climbing right now as the company has not released any news in the past day or so. But, we can look at its most recent announcement to try and deduce a reason. On March 2nd, the company reported its Q4 and full year 2021 financial results. In the results, it posted cash of $154 million with revenue of $0.2 million.
This revenue amount is a decrease of $85 million over the fourth quarter of 2020, due to an upfront payment that was received the prior year. While it did manage to lower its general and administrative expenses, many investors are focused on the revenue. But, with this recent bullish move, SURF may be a worthwhile addition to your list of penny stocks to watch.
Paramount Gold Nevada Corp. (NYSE: PZG)
One of the bigger gainers on Friday, March 11th, is PZG stock. By early morning, shares of PZG stock had shot up by over 27% to more than $1.01 per share. This brings its five day gain to over 16%, which is no small feat. While there is no news that is sparking this gain, there are several reasons why it is occurring.
Given the geopolitical tensions globally and the economic situation in the U.S., many investors have turned to gold. This means that the price of gold has climbed tremendously during that time. Because of that, we have continued to see shares of PZG and other mining stocks climb as well. Whether this makes PZG stock worth buying or not is up to you.
Which Penny Stocks Are You Watching Today?
Finding the best penny stocks to buy can be challenging. But, with the right information on hand, it can be much easier than previously imagined.
Considering that there is so much going on in the stock market right now, it all comes down to understanding how to trade. With this in mind, which penny stocks are you watching today?