Buying Penny Stocks Today? What You Need to Know About Trading Penny Stocks
With the end of another week of trading penny stocks and blue chips, there is a lot for investors to consider. While this week has been extremely volatile, today we are beginning to see signs of a bullish turnaround. With early morning gainers like Aterian Inc. (NASDAQ: ATER) and Biofrontera Inc. (NASDAQ: BFRI) showing positive momentum, we should be in for an exciting trading day. Considering this, let’s take a look at what you need to know about buying penny stocks today.
Stock Market News Today, April 8th
During early morning trading on April 8th, we are seeing signs of a bullish move. During the morning, the Dow and NASDAQ were up by around 0.25% and 0.06% respectively. While this is not a major gain, it is a welcomed one following a few days of bearish momentum.
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Right now, we’re still witnessing the effects of the Ukraine conflict and inflation in the U.S. on the stock market. So, with all of that considered, let’s take a look at three penny stocks that are gaining during premarket trading.
3 Penny Stocks That Are Gaining During Premarket
- Medavail Holdings Inc. (NASDAQ: MDVL)
- ENDRA Life Sciences Inc. (NASDAQ: NDRA)
- SeaChange International Inc. (NASDAQ: SEAC)
Medavail Holdings Inc. (NASDAQ: MDVL)
One of the bigger gainers during premarket trading is MDVL stock. By early morning, shares had shot up by more than 32%. This is a big gain and one that comes after a five day and one month uptick of over 45% and more than 60% respectively. So, why are shares of MDVL stock climbing right now?
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The big news for the company came a few days ago when the company announced the closing of a $50 million private placement. This likely occurred due to the company’s desire to take advantage of its recent stock price increase. And with exciting financial results released only a few days before this, MDVL could be worth adding to your penny stocks watchlist.
ENDRA Life Sciences Inc. (NASDAQ: NDRA)
During early morning trading, shares of NDRA stock managed to climb by more than 35%. This adds to its five day gain of over 18%, which comes after a six month drop of more than 73%. The most recent news from the company came yesterday when HC Wainwright initiated a $6 price target which is up from its previous $5 price target.
In addition, the analysts reiterated a Buy rating on the stock. While analyst ratings are nothing to live or die by, they are exciting to consider. Whether this makes NDRA stock worth adding to your list of penny stocks to buy however, is up to you.
SeaChange International Inc. (NASDAQ: SEAC)
SEAC is a penny stock that we have covered numerous times in the past few weeks. And with an over 8% gain during premarket trading, it’s clear that SEAC is in focus once again. In the past one month and six month periods, shares of SEAC stock have pushed up by over 8% and more than 16% respectively.
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However, the main reason for its momentum today comes as the company released its Q4 and fiscal year 2022 financial and operational results. In the results, the company stated that fiscal Q4 2022 total revenue increased by more than 20% over Q3, and by more than 67% YoY. This is exciting news for the company and investors alike, and could make SEAC stock worth watching.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy can be challenging. However, with so many to choose from and so much going on in the stock market, it can be much easier than previously imagined. To know which penny stocks are best, investors have to understand their own trading strategy thoroughly. With all of this in mind, which penny stocks are you watching right now?
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