Buying Penny Stocks Today? Here’s What You Need to Know
With a new week of trading for penny stocks and blue chips here, there is a lot for investors to know. Now, given the highly volatile stock market we’ve seen in the past few weeks, it is likely that this week will be just as volatile.
And with tensions still high between Russia and Ukraine, inflation rising, and interest rate hikes on the horizon, investors need to be on their toes. During early trading, we saw stocks like AgriForce Growing Systems Ltd. (NASDAQ: AGRI) and VEON Ltd. (NASDAQ: VEON) make big moves. 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 March 14th, stock futures were mixed. The S&P 500 and Dow saw futures rise slightly, as investors are eyeing the newest updates from the Fed later in the week. This comes as the war continues to rage on in Ukraine.
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In addition to this, we saw oil drop below $103 per barrel. This is a stark decrease from where it was only a few weeks ago. However, we have to consider that the price of oil has been extremely inflated due to the conflict with Russia. So, with all of this in mind, let’s take a look at three penny stocks gaining during trading right now.
3 Penny Stocks Gaining During Trading Right Now
- Mullen Automotive Inc. (NASDAQ: MULN)
- Alset Ehome International Inc. (NASDAQ: AEI)
- TMC the metals company Inc. (NASDAQ: TMC)
Mullen Automotive Inc. (NASDAQ: MULN)
During premarket trading, shares of MULN stock shot up by over 29% to more than $1.75 per share. This is a sizable increase and brings MULN stocks five day rise to over 75%. During that time, we’ve covered it extensively due to these big moves. And to understand why, we have to look at its recent announcements.
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The most recent news from the company came a few weeks ago when it announced progress on the development of its solid-state polymer battery pack program. It stated that its early testing showed the battery could have a range of over 600 miles with half of that coming on only 18 minutes of charging. Considering this, will MULN be on your penny stocks watchlist?
Alset Ehome International Inc. (NASDAQ: AEI)
Another large premarket gainer is AEI stock. By early morning, shares of AEI stock had jumped by over 14% to more than $0.49 per share. In addition, over the past five days, AEI stock has climbed by over 38%, which is quite a large move. So, why is AEI stock seeing such substantial bullish sentiment right now?
Well, it’s hard to tell as the company has not released any major news recently. However, it did announce the appointment of Anthony S. Chan as its new COO on February 17th. But, given its big move on Friday, today’s climb could be another speculative gain for the company. With that considered, is AEI stock worth adding to your list of penny stocks to buy?
TMC the metals company Inc. (NASDAQ: TMC)
With over 85% in gains in the past five day period, shares of TMC stock have been in focus for many investors recently. The reason for its small gain today comes as the company announced that it would be providing its Q4 2021 update on March 24th.
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While this in itself is not a major deal, it will help to show investors where the company could be headed in the near future. And, the company recently announced the appointment of a new Board Director and Audit Committee Chair. All of this is giving investors more confidence in the future of TMC stock. With that in mind, do you think TMC is worth buying or not?
Are Penny Stocks Worth Buying Right Now?
If you’re looking for the best penny stocks to buy, the best place to start is by understanding your own trading method. This means knowing your risk tolerance, what your investing goals are and so on. Considering all of this, do you think that penny stocks are worth buying right now or not?
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