What to Know About Trading Penny Stocks on April 11th
With another week of trading penny stocks getting off to an interesting start, there is a lot for investors to know. Considering that there is still an extremely high amount of volatility in the stock market, investors need to be on their toes at all times.
Some early gainers include Veru Inc. (NASDAQ: VERU) and Iveta Solutions Inc. (NASDAQ: IVDA) among others. With stock futures dropping in premarket trading, let’s talk about what’s affecting penny stocks right now.
What is Affecting Penny Stocks Right Now?
During morning trading, we saw futures for the Dow Jones fall alongside a drop with major tech stocks. Big news came as Twitter announced Elon Musk would no longer be joining its board. In the past two weeks, we’ve seen major volatility across the stock market. This includes both penny stocks and blue chips.
And, with the week ending on a mixed note, many are excited that this week could bring new positivity to the market. Considering that there is a lot to look forward to, let’s take a look at three penny stocks that are climbing during morning trading.
3 Penny Stocks Climbing During Morning Trading
- Hoth Therapeutics Inc. (NASDAQ: HOTH)
- Genocea Biosciences Inc. (NASDAQ: GNCA)
- AIM ImmunoTech Inc. (NYSE: AIM)
Hoth Therapeutics Inc. (NASDAQ: HOTH)
One of the largest gainers during premarket and one of the biggest movers we’ve seen in quite some time is HOTH stock. By early morning, shares of HOTH stock had shot up by more than 160% bringing it from $0.61 to over $1.60 per share. While we do see large gains like this without news, Hoth Therapeutics made a big announcement during premarket trading.
The company announced that its mRNA frame-shifting therapeutic, HT-KIT is effective against aggressive cancer cells. With Orphan Drug Status successfully granted, the company can now move forward with the beginnings of the commercialization process. Considering that, will HOTH be on your penny stocks watchlist?
Genocea Biosciences Inc. (NASDAQ: GNCA)
Another sizable morning gainer is GNCA stock. During morning trading, shares of GNCA managed to shoot up by over 40% to more than $0.56 per share. This comes only days after GNCA stock took a major dive following data from its GEN-011 trial in solid tumor patients.
In the data, the company stated that early results showed anti-tumor activity and stable disease in four of five patients at the 57 day mark. After this big dive, today’s move seems to be a rebound for GNCA stock, which is a common pattern with penny stocks. So, does this make GNCA stock worth buying or not?
AIM ImmunoTech Inc. (NYSE: AIM)
With an over 11% gain during premarket trading, AIM stock is another penny stock that investors are watching right now. During premarket, the company announced positive data from the Phase 1 study of Ampligen for treating stage 4 metastatic triple negative breast cancer.
The study showed that Ampligen and pembrolizumab met the primary endpoints which means that it can now move forward with its research efforts. In addition, the company is presenting a poster for this trial at the American Association for Cancer Research annual meeting. Whether this makes AIM worth adding to your list of penny stocks or not is up to you.
Which Penny Stocks Are You Watching?
Finding the best penny stocks to buy can be challenging. With so many small-caps to choose from, investors need to understand exactly what the company does in order to take advantage.
With factors such as conflict in Ukraine, rising interest rates and more continuing to affect the stock market, there is a lot to keep track of. So, with all of that considered, which penny stocks are you watching right now?