Buying Penny Stocks Today? Here’s What You Need to Know
Buying penny stocks in 2022 is not for the faint of heart. With so much going on in the stock market, trading penny stocks and blue chips in the last few weeks has been extremely volatile, to say the least. And although in the last week or so we’ve begun to see a bullish turnaround, there are still several factors that are causing concern in the stock market.
Right now, some examples of big movers include NanoVibronix Inc. (NASDAQ: NAOV) and Agile Therapeutics Inc. (NASDAQ: AGRX) among others. And these two stocks alone highlight just how large stocks are swinging right now. For these reasons, 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
After several days of bullish momentum, futures are indicating that the stock market could open lower during trading today. With mortgage rates climbing and jobs numbers at estimates, there is a lot on the table right now. And, we can’t forget about interest rate hikes and the ongoing conflict in Ukraine. So, with all of that in mind, let’s take a look at three penny stocks that are gaining during morning trading.
3 Penny Stocks That Are Gaining During Morning Trading
- Adagio Therapeutics Inc. (NASDAQ: ADGI)
- Direct Digital Holdings Inc. (NASDAQ: DRCT)
- Vyant Bio Inc. (NASDAQ: VYNT)
Adagio Therapeutics Inc. (NASDAQ: ADGI)
One of the largest gainers of the day during premarket is ADGI stock. By early morning, shares of ADGI stock had shout by over 50% to more than $5.81 per share. While this technically makes it no longer a penny stock, it was only a day prior. The biggest news from the company came during early morning today on March 30th.
It stated that it will seek authorization from the FDA for its experimental Covid-19 monoclonal antibody treatment. The company aims to apply for this authorization by the second quarter of the year. Considering this exciting news, does ADGI deserve a spot on your penny stocks watchlist?
Direct Digital Holdings Inc. (NASDAQ: DRCT)
One of, if not the largest gainer of the day so far is DRCT stock. During morning trading, shares of DRCT managed to shoot up by over 82% to more than $4.72 per share. This is a major gain for the company and is also accompanied by higher than average volume. In addition, this gain comes after a five day uptick of more than 35%.
The big news for DRCT came yesterday at EOD when it announced its Q4 and full year 2021 results. In the results, the company posted revenue increases of 95% over the previous years Q4. All other fiscal results from the company were incredibly positive, highlighting this big stock move. Considering that, will DRCT be on your list of penny stocks to watch?
Vyant Bio Inc. (NASDAQ: VYNT)
Last on the list of sizable morning gainers is VYNT stock. For the same reason that DRCT stock shot up, VYNT climbed due to the release of its Q4 and full year 2021 financial results. Because of this, we saw VYNT stock climb by more than 25% during morning trading today.
Fiscally, the company ended the year with more than $20 million in cash on hand. And, it increased its revenue to $1.1 million compared with $867,000 in the year prior. This is all exciting news and shows that Vyant Bio is working hard to grow. And while it still has a long way to go to get its pipeline up to speed, VYNT stock could be worth watching in the meantime.
Are Penny Stocks Worth Buying Right Now?
Finding penny stocks that could make you money is challenging. While it can be difficult, there are plenty of ways to make it easier. This includes understanding exactly what is going on in the stock market, and knowing how to trade penny stocks.
In addition, knowing what your own tolerance for risk is and how to take advantage of that, is crucial. So, with this in mind, do you think that penny stocks are worth buying right now or not?