Buying Penny Stocks Today? Here’s What You Need to Know
With another day of trading penny stocks and blue chips here, there is a lot for investors to know. Early morning gainers like DiDi Global Inc. (NYSE: DIDI) and Vinco Ventures Inc. (NASDAQ: BBIG) are setting the tone for what could hopefully be a positive day in the market.
After yesterday’s session which saw the market end on a high note, traders are hopeful that we could be out of the waters with the recent bearish trend. With that in mind, 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
During early morning trading, we saw futures climb with the S&P 500 up by 0.4% and the Dow climbing by more than 150 points. Despite the recent volatility regarding rising interest rates and the Ukraine war, we are seeing a lot of bullish momentum to make up for the last few months of trading.
In addition, we are seeing a reprise with momentum for meme stocks. This occurred yesterday alongside rising crypto prices as well. So, with all of this considered, let’s take a look at three penny stocks that are climbing during premarket trading right now.
3 Penny Stocks That Are Gaining During Morning Trading
- Guardforce AI Co. Ltd. (NASDAQ: GFAI)
- Hycroft Mining Holding Corp. (NASDAQ: HYMC)
- China SXT Pharmaceuticals Inc. (NASDAQ: SXTC)
Guardforce AI Co. Ltd. (NASDAQ: GFAI)
One of the largest gainers of the day on March 29th during morning trading is GFAI stock. By early morning, shares of GFAI had shot up by over 40%. This is a substantial gain, however, in the past month, shares of GFAI have climbed by more than 100%.
The most recent announcement from Guardforce came this morning when it stated it’s expansion into Dubai and Australia. It announced that it has established subsidiaries in Dubai and Australia to focus on its Robotics as a service goals. This is a big deal and will likely take some time before GFAI sees the benefits of this. However, in the meantime, this could make GFAI worth adding to your penny stocks watchlist.
Hycroft Mining Holding Corp. (NASDAQ: HYMC)
Another early morning gainer and a penny stock that we have discussed numerous times is HYMC stock. During premarket trading, shares of HYMC shot up by over 21% to more than $2.82. This brings its five day gain to more than 100%. And if that seems like a lot, in the past month, shares of HYMC stock have exploded by more than 645%.
While HYMC does have a lot to offer investors on its own, one of the main reasons for its recent growth has been the increase in attention to meme stocks. This was seen yesterday as well with meme stocks like AMC stock and GME stock climbing up as well. With that in mind, will HYMC be on your list of penny stocks to buy or not?
China SXT Pharmaceuticals Inc. (NASDAQ: SXTC)
One of the largest gainers during the premarket session today is China SXT Pharmaceuticals. During premarket, shares of SXTC stock shot up by over 50% to more than $0.31 per share. This comes after a six month drop of more than 50%. As we see sometimes, there is no news that is driving this gain.
Rather, it appears as though this is purely speculative, with extremely high volume and no announcement from the company or otherwise. With penny stocks, we see this occur as the result of low share prices and the impact of trading sentiment. We could also be seeing the recent effects of the meme stock uprise on SXTC stock as well. Regardless, do you think SXTC stock is worth buying today or not?
Are Penny Stocks Worth Buying or Not?
The short answer to this question is that it is entirely up to you and your investing style. While penny stocks can be a great and profitable way to make invest, they also carry a great deal of risk. Because of that, it’s crucial to understand exactly what your investing style is and how to use that to your advantage. Considering this, do you think penny stocks are worth buying or not?