3 Penny Stocks to Watch on April 1st, 2022
With the end of another week of trading penny stocks here, there is a lot for investors to know. During early morning trading, we saw big movers like Longeveron Inc. (NASDAQ: LGVN) and Hycroft Mining Holding Corp. (NASDAQ: HYMC) bring in attention. But, to understand how to benefit from penny stocks like these, we have to consider exactly what is going on in the stock market. For that reason, 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, stock futures were rising following a day that ended in the red. The reason behind this likely comes as a new month is here and positive labor data has come out.
While a new month may not be anything more than a symbolic shift, that alone can cause gains to come in. In the morning, contracts for the S&P 500 and the Dow climbed by around 0.4%. Considering this, let’s take a look at three penny stocks that are gaining during the morning trading session.
3 Penny Stocks Gaining During Morning Trading
- Exela Technologies Inc. (NASDAQ: XELA)
- Hudson Capital Inc. (NASDAQ: HUSN)
- DiDi Global Inc. (NYSE: DIDI)
Exela Technologies Inc. (NASDAQ: XELA)
One of the larger morning gainers is XELA stock, which shot up by over 10% at market open. This is a substantial gain and comes after a six month drop of more than 75%. So, why are shares of XELA stock climbing right now? Well, the company announced today that it amended its $115 million B. Riley debt facility to include a revolving debt facility as well.
It states that this revolver should add roughly $50 million in liquidity in 2022. This is a major deal for the company and should continue to play out in the near future. Considering this, will XELA be on your penny stocks watchlist?
Hudson Capital Inc. (NASDAQ: HUSN)
As far as large morning gainers go, HUSN stock managed to explode by over 30%. This adds to a one month gain of more than 18%. And in that time, we’ve covered HUSN stock on several occasions due to these sizable moves.
The big news from Hudson Capital came as the company announced it would prioritize U.S. operations and sell its Chinese assets. It is doing this in order to improve its business and get rid of assets that are not performing well. With this big news in mind, do you think HUSN deserves a spot on your list of penny stocks to buy or not?
DiDi Global Inc. (NYSE: DIDI)
Up by over 24% during morning trading is DIDI stock. This big move is indicative of how speculative and volatile DIDI stock is and has been in the past few months. While it is tough to say why DIDI stock is climbing right now, it’s clear that there are some reasons outside of the company. For one, Beijing will soon hand over several audit reports for Chinese companies that are listed in the U.S. to American regulators.
And in the past, we’ve seen DiDi Global have issues surrounding its listing in the U.S. and Chinese regulatory measures. So, any ironing out of this could be big and good news for DIDI stock. While it does remain highly volatile, DIDI’s big moves could be an opportunity for some. Whether this makes it worth buying or not however, is up to you.
Are Penny Stocks Worth Buying or Not?
Whether penny stocks are worth it or not is something that is entirely up to your trading strategy. In 2022, the level of volatility in the stock market is unlike anything we’ve seen in quite some time. But because of this, there are also plenty of opportunities to make money with penny stocks. So, with all of this in mind, do you think that penny stocks are worth buying or not?