Buying Penny Stocks Today? Here’s What You Need to Know
If you’re looking to find penny stocks to buy, there are plenty of options. But understanding how to make money with penny stocks is all about knowing how to take advantage of whatever is going on in the stock market. Right now, there are a lot of factors at play simultaneously. To understand how this may impact your portfolio, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
On Friday, March 18th, Dow Jones Futures dropped after two days of positive stock market momentum. In addition, treasury yields are at their highest levels since July of 2019, with the price of oil in the U.S. near $103 per barrel.
At 9 A.M. on Friday, President Biden and the Chinese leader, Xi Jinping, are scheduled to have a phone call to discuss the conflict occurring in Ukraine right now. Some early gainers include StoneCo Ltd. (NASDAQ: STNE) and Grom Social Enterprises Inc. (NASDAQ: GROM) among others. So, with all of this in mind, let’s take a look at what you need to know about trading penny stocks today.
3 Penny Stocks That Are Climbing During Trading Right Now
Kidpik Corp. (NASDAQ: PIK)
One of the bigger premarket gainers right now is PIK stock. By early morning, shares of PIK had shot up by over 16% to more than $4.75 per share. This brings its five-day gain to over 165%, which is no small feat. This comes on the back of a gain yesterday which occurred due to a partnership with Disney.
The partnership concerns the release of a new Cheaper by the Dozen on Disney’s streaming platform. As a result, PIK stock has become increasingly popular in the past few trading days. With that in mind, will PIK be on your penny stocks watchlist?
Ecmoho Ltd. (NASDAQ: MOHO)
Another penny stock that investors are watching right now is MOHO stock. By early morning trading, shares of MOHO stock had shot up by over 22%. In the past five day and one month periods, shares of MOHO stock have increased by over 9% and 16% respectively.
The big news for MOHO stock came during premarket when it announced that it received approval to transfer NASDAQ Capital market. If you’re not familiar, Ecmoho is a supplier of health and wellness solutions in China. Considering this exciting update, will MOHO be on your list of penny stocks to watch?
Sonim Technologies Inc. (NASDAQ: SONM)
SONM is a penny stock that we have discussed numerous times in the past few weeks, and during premarket trading, shares popped off. This brings its five day gain to more than 111% which is no small feat. The reason for Sonim’s gain comes as its XP8 smartphone is now integrated with Microsoft Teams.
This is a big deal for the company and is a major reason why its shares have been climbing in the past few trading days. And, given the recent emphasis on tech penny stocks, it’s clear that SONM is making headway. With this considered, do you think SONM stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. Because of this, it all comes down to understanding what is going on in the stock market and how to take advantage.
This means knowing exactly what is at play both geopolitically and economically and considering the short and long term effects of that. With this in mind, which penny stocks are you watching right now?