Buying Penny Stocks Today? Here’s What You Need to Know
With another potentially volatile day of trading penny stocks here, there is a lot for investors to understand. In the past few trading days, we’ve seen major market movement as tensions in Ukraine continue to rise and inflation/interest rates set in.
Today, we are already witnessing big moves like Incannex Healthcare (NASDAQ: IXHL) and Ucommune International Ltd. (NASDAQ: UK), push up. With that in mind, let’s look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
Right now, we’re watching continued volatility in the stock market. Chinese stocks listed in Hong Kong saw the worst day of trading since 2008, with the Hang Send China Enterprises Index down by around 7% yesterday.
In the U.S., stock futures are mostly stable ahead of oil prices dropping, the Fed rate hike, and continued geopolitical tensions. So, with this volatility in mind, let’s take a look at three penny stocks that are gaining during trading right now.
3 Penny Stocks Gaining During Trading Right Now
- Hycroft Mining Holding Corp. (NASDAQ: HYMC)
- CooTek Inc. (NYSE: CTK)
- AgriFORCE Growing Systems Inc. (NASDAQ: AGRI)
Hycroft Mining Holding Corp. (NASDAQ: HYMC)
One of the largest gainers during premarket trading today is Hycroft Mining Corp. By early morning, shares of HYMC stock had shot up by over 94%. Now, this would be surprising if shares of HYMC stock had not shot up by over 250% in the last month, however, this simply adds to its gains.
The main reason for its movement today comes as the company announced a $56 million investment from Eric Sprott and AMC Entertainment Holdings Inc. (NYSE: AMC). This is an interesting deal for both the company and investors alike and will continue to play out in the next few weeks. With that in mind, will HYMC stock be on your penny stocks watchlist?
CooTek Inc. (NYSE: CTK)
Another big morning gainer is CTK stock, which shot up by over 30% during premarket trading. This follows a more than 85% drop in the past six months, which is quite substantial. The big news for CooTek Inc. today comes as the company announced share purchase by a senior management member.
Mr. Karl Kan Zhang, the Chairman of the Board and CTO, used personal funds to purchase $3 million worth of its common shares. For context, CooTek is an Internet based company working on content rich mobile apps. With this share purchase in mind, do you think CTK is worth adding to your list of penny stocks to buy?
AgriFORCE Growing Systems Inc. (NASDAQ: AGRI)
AgriFORCE is a penny stock that we have covered numerous times in the past few weeks and again today, shares are up by over 4% during premarket. This brings its five day and one month gain to over 98% and 126% respectively. These major gains reflect both AgriFORCE and the agriculture industry right now.
The big news for AgriFORCE however, came a few days ago when it announced a binding LOI to acquire Deroose Plants NV. Deroose is one of the largest tissue culture propagation companies in the world, and should provide an interesting opportunity for investors to take advantage of. With that considered, will AGRI be on your penny stocks buy list?
Which Penny Stocks are You Watching Today?
Finding the best penny stocks to buy can be challenging. However, with such a broad range of penny stocks out there, it can be much easier than previously imagined. Because there are so many penny stocks to choose from, finding ones with potential involve research and understanding how to trade. With all of this in mind, which penny stocks are you watching today?