Buying Penny Stocks Today? Here’s What You Need to Know
If you’re looking to find the best penny stocks to buy today, there are numerous 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. Right now, the main factors at play include inflation, interest rates, the Ukraine-Russia war, and a few others. So because of this, let’s take a look at what you need to know about trading penny stocks today.
What You Need to Know About Trading Penny Stocks Today
Today, we’re seeing major gains in with many marijuana penny stocks. This includes Clever Leaves Holdings Inc. (NASDAQ: CLVR) and Sundial Growers Inc. (NASDAQ: SNDL) among others. The cause of this is a proposed vote coming Monday that could see the U.S. move closer toward federal legalization of cannabis.
And ahead of market open, we’re seeing positive signs for the end of this week with U.S. stock futures rising. This will give the S&P 500 and the NASDAQ a second consecutive positive week, which is a welcome sign for investors. So, with this in mind, let’s take a look at three penny stocks that are gaining during morning trading.
3 Penny Stocks Gaining During Morning Trading
- Nextdecade Corp. (NASDAQ: NEXT)
- Tellurian Inc. (NYSE: TELL)
- Strata Skin Sciences Inc. (NASDAQ: SSKN)
Nextdecade Corp. (NASDAQ: NEXT)
Up by around 3.5% during premarket trading are shares of NEXT stock. This comes after a five day gain of over 30% and more than 70% in gains in the past month. So, why are shares of NEXT stock climbing right now?
Well, only a day or so ago, the company announced that it signed into an agreement with a Chinese company for the latter to buy LNG from its Rio Grande LNG project. The Guangdong Energy Group stated that it will buy around 1.5 million metric tons of LNG every year from Nextdecade, which is a major amount. Considering this and an agreement that the U.S. and the E.U. reached regarding natural gas, will NEXT be on your penny stocks watchlist?
Tellurian Inc. (NYSE: TELL)
Another big gaining energy stock right now is TELL stock. During premarket trading, TELL stock managed to climb by more than 3.5% with over 20% in gains in the past five day period. This brings its one month gain to over 40%, which shows the bullishness on the energy industry during that time.
Similarly to Nextdecade, Tellurian is benefitting from the recent U.S. and E.U. natural gas deal. Only a few days ago, the U.S. stated that it is finalizing a plan to supply roughly 15 billion additional cubic meters of LNG by the end of this year to Europe. The goal is to ween Europe off of its Russian LNG dependency. Because Tellurian is a big player in the liquid natural gas industry, it makes sense that it would see gains from this. With that in mind, is TELL going to be on your list of penny stocks to watch?
Strata Skin Sciences Inc. (NASDAQ: SSKN)
During premarket trading, shares of SSKN stock shot up by over 11%. This adds to its five day gain of more than 11%, which is no small feat. Only a few days ago, the company announced its Q4 2021 revenue. In the report, it posted revenue of $9.1 million, which is a 35% increase over the fourth quarter of 2020, and a new record for the company.
For the full year, the company brought in roughly $30 million, which represents a 30% increase over the full year 2020 period. And, at the end of the quarter, it announced having cash on hand of around $12.6 million. With these record results considered, is SSKN stock worth buying?
Which Penny Stocks Are You Watching Right Now?
As we continue to move into 2022, there is a lot for penny stocks investors to understand. Considering that there is so much movement in the stock market, knowing exactly how to make money is crucial.
The best method is to have a full understanding of what is going on in the market, and how to take advantage. With that in mind, which penny stocks are you watching right now?