Buying Penny Stocks Today? Here’s What You Need to Know
With another day of trading penny stocks here, there is a lot for investors to understand. While investing can be complicated at times, understanding exactly what is going on in the stock market is a crucial step to making money with penny stocks.
For that reason, it is always important to stay up to date with the latest news and events. Right now, we’re seeing big movers like Tilray Inc. (NASDAQ: TLRY) and Guardion Health Sciences Inc. (NASDAQ: GHSI) make large price gains. Considering 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
During morning trading, stock futures were dropping adding to the losses we saw only a day earlier. Much of this concerns the shifting policy with the Federal Reserve which could become more aggressive in the future.
The Fed states that the first interest rate hike in over three years will be available at 2PM EST. As a result of these long awaited interest rates, investors are on the edge of their seats. Considering this, let’s take a look at three penny stocks that are climbing during morning trading.
3 Penny Stocks Climbing During Morning Trading
- Mobiquity Technologies Inc. (NASDAQ: MOBQ)
- Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
- Sunshine Biopharma Inc. (NASDAQ: SBFM)
Mobiquity Technologies Inc. (NASDAQ: MOBQ)
One of the largest premarket gainers today is MOBQ stock. By early morning, shares of MOBQ had shot up by over 67% to more than $2.72 per share. This is a major uptick that reflects news from the company that was released this morning.
It stated that it has partnered with A-Nation to offer its services in the form of brand awareness for A-Nation’s tokens and film release. This is great news for the company and should continue to play out in the future. Whether this makes MOBQ stock worth adding to your list of penny stocks to buy, is up to you.
Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
Another decent morning gainer so far is CTXR stock. During morning trading, we saw shares of CTXR stock push up by over 8.7%. In the past one month period, CTXR stock has climbed by more than 26%, which is no small feat.
So, why is there so much bullish sentiment for CTXR right now? The big news today came as the company announced new data from its experimental lymphoma drug. This topline data from its Phase 3 clinical trial is big news for the company as it is very positive. So, with that in mind, will CTXR be on your penny stocks watchlist or not?
Sunshine Biopharma Inc. (NASDAQ: SBFM)
While SBFM stock is no longer a penny stock technically at over $5.61 per share, it was only a day prior. And following yesterday’s substantial move of more than 120%, today’s 2% premarket gain is an added bonus. The big news for Sunshine Biopharma that we have covered multiple times now, came yesterday regarding its mRNA molecule designs.
It stated that its product is effective against multi-drug resistant cancer cells, which is a major breakthrough. And, the company states that this could be a multi-billion global market opportunity if it is able to be commercialized. With this new gain for SBFM stock today, does it deserve a spot on your list?
Which Penny Stocks Are You Watching Right Now?
Buying penny stocks and profiting can be challenging given the sheer number of events going on simultaneously in the market. However, with a keen understanding of how to trade and what is going on, it can be much easier than previously imagined.
Always make sure that you have a consistent and well-thought-out trading strategy on hand as this can increase your chances of profitability substantially. With that in mind, which penny stocks are you watching right now?