Buying Penny Stocks Today? Here’s What You Need to Know
If you’re looking for penny stocks to buy right now, there are plenty of options to choose from. In addition, there is also a sizable amount of volatility with both penny stocks and blue chips given the current status of geopolitics and the U.S. economy.
Because of this, it’s worth looking into what exactly is going on in order to understand how to make money with penny stocks in 2022. With that in mind, let’s take a look at what to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
During premarket trading on Thursday, stock futures in the U.S. remained stable. After an interest rate hike for the first time in three years, the stock market managed to climb substantially. This is a telling sign that shows that investors may be comfortable with where the stock market is headed right now.
In the meeting, the Fed states that it will increase the benchmark Federal Funds Rate by 0.25%. The goal here is to lower inflation and begin the process of building back the economy. With that in mind, let’s take a look at three penny stocks to watch that are climbing right now.
3 Penny Stocks That Are Climbing During Trading Right Now
- Imperial Petroleum Inc. (NASDAQ: IMPP)
- TD Holdings Inc. (NASDAQ: GLG)
- Mullen Automotive Inc. (NASDAQ: MULN)
Imperial Petroleum Inc. (NASDAQ: IMPP)
One of the largest premarket gainers and a penny stock that we have covered numerous times recently is IMPP stock. During premarket trading today, shares of IMPP stock shot up by over 15%. And, in the past month, shares of IMPP stock have climbed by over 280%. This comes after a one year loss of more than 70%.
The main reason for its gain comes alongside the rising price of oil in the past few weeks. This has caused IMPP and other energy penny stocks such as Camber Energy Inc. (NYSE: CEI) and Indonesia Energy Corp. Ltd. (NYSE: INDO) to climb in that time. Considering all of this, will IMPP be on your penny stocks watchlist?
TD Holdings Inc. (NASDAQ: GLG)
During premarket trading, shares of GLG stock shot up by over 68%, which is no small feat. The big news for TD Holdings came yesterday after market close when the company reported its financial results for the year ended December 31st, 2021. In the results, it posted revenue from commodities trading of $201 million, which is an increase of 612%.
In addition, it brought in a net loss of $0.94 million compared to $2.4 million in the year prior. These numbers are very positive and show that GLG stock is growing right now. And, it is clear why shares of GLG are climbing during today’s session. With that in mind, is GLG stock worth adding to your list of penny stocks to buy?
Mullen Automotive Inc. (NASDAQ: MULN)
Mullen Automotive is a penny stock that we have been discussing for several weeks at this point. Up by more than 19% during premarket, shares of MULN stock have climbed by over 50% and 120% in the past five day and one month periods respectively.
Today, the EV penny stock climbed due to an appearance on a Yahoo Live finance segment. This is great for exposure and comes after Mullen has continued to make headlines in the past few trading sessions. While Mullen still has a long way to go before it can compete with the EV majors, it is working hard to get there. With this considered, does MULN belong on your watchlist this month?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look and what is going on in the stock market.
While this can be challenging given the sheer number of factors at play right now, there are plenty of ways to have a better chance at profiting. This includes having a trading strategy, knowing your investing goals, and so on. With that in mind, which penny stocks are you watching right now?