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. Recently, we’ve seen a bullish streak with 4 days of gains in the market. However, in the last day or so, this sentiment has begun to turn around.
While we are no where near the bearish movement that we saw a few weeks ago, it’s clear there is a lot of volatility in the market. Despite this, we’re still seeing major gainers like Longeveron Inc. (NASDAQ: LGVN) and IZEA Worldwide Inc. (NASDAQ: IZEA) today for example. With this 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
Today, we’re seeing equity futures mostly unchanged during premarket trading. While we have seen that large bullish streak in the past week or so, we still have conflict in Ukraine, rising inflation and interest rates, and mixed economic data to contend with.
So, while the price of oil is beginning to drop and the recent winning streak is a good sign, there is still a sizable amount of volatility abound. Considering this, let’s take a look at three penny stocks to watch during morning trading on Thursday.
3 Penny Stocks That Are Gaining During Morning Trading
- Clovis Oncology Inc. (NASDAQ: CLVS)
- First Wave BioPharma Inc. (NASDAQ: FWBI)
- Dare Bioscience Inc. (NASDAQ: DARE)
Clovis Oncology Inc. (NASDAQ: CLVS)
One of the biggest gainers of the day during morning trading on March 31st is CLVS stock. By early morning, shares of CLVS had shot up by over 43% to more than $2.37 per share. This is a substantial gain that comes after a six month drop of more than 63%.
The big news from CLVS came during premarket trading when it announced that it would seek FDA approval for an ovarian cancer drug. This drug, known as Rubraca, has shown major improvements for survival rates in women when used as a maintenance treatment. Considering this exciting update, will CLVS be on your penny stocks watchlist or not?
First Wave BioPharma Inc. (NASDAQ: FWBI)
Another big gaining biotech penny stock during premarket is FWBI stock. In early morning trading, FWBI had shot up by more than 30% on exciting news. The company stated that Goldman Small Cap Research has published a new report on it.
The research firm which specializes in small-cap companies, stated that First Wave Bio has “2 key assets, 6 indications, and 4 Phase 2 clinical programs along with a novel, proprietary micronized formulation.” And because of this, it sees potential with the company. Whether this makes FWBI stock worth adding to your list of penny stocks to buy, is up to you.
Dare Bioscience Inc. (NASDAQ: DARE)
Keeping in theme with biotech penny stocks climbing right now, DARE stock managed to shoot up by over 11.5% during premarket trading. The big news for Dare came as it announced its full-year 2021 financial results as well as a corporate update.
In the update, it stated that it ended the year with more than $51 million in cash on hand. Additionally, it was able to move forward with the U.S. commercial launch of XACIATO which is expected for the fourth quarter of this year. With these exciting updates in mind, do you think DARE stock is worth buying or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking to find the best penny stocks to buy, there are hundreds of options to choose from. Because of the sheer number of factors that are impacting the stock market however, it all comes down to you and your understanding of what is going on in a more broad sense.
Because penny stocks are so speculative, paying attention to the news is crucial. With this in mind, which penny stocks are you watching?