What to Know About Buying Penny Stocks on April 14th, 2022
With another day of trading penny stocks here, there is a lot for investors to consider. Right now, the biggest news came as Elon Musk offered to buy 100% of Twitter Inc. (NYSE: TWTR) for $54 per share. Currently, the Tesla Inc. (NASDAQ: TSLA) owner has a 9.2% stake in the company, however, he believes the company is in need of change.
Elon Musk stated “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Moving forward, the board of Twitter stated that it will consider the offer, but no definitives have been announced. So, while this may not have a direct effect on penny stocks, it will definitely cause movement in the stock market. With this in mind, let’s take a look at three penny stocks that are climbing during morning trading.
3 Penny Stocks Climbing During Morning Trading
- Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
- Kaleido Biosciences Inc. (NASDAQ: KLDO)
- Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
One of the biggest gainers of the day during morning trading is PBTS stock. By early morning, shares of PBTS had shot up by more than 38%. This is no small feat and adds to PBTS’ one-month gain of more than 38%. So, why are shares of Powerbridge climbing right now?
Well, it’s hard to say as there is no news from the company, however, it did see sizable bullish interest only a day prior. Because of this, it appears as though traders are swing trading PBTS stock for its high volatility. So, while PBTS is fluctuating greatly, it could offer potential for those interested in short term moves. Considering this, will PBTS be on your penny stocks watchlist?
Kaleido Biosciences Inc. (NASDAQ: KLDO)
Another big morning gainer during trading today is KLDO stock. During early morning, we saw shares of KLDO stock shoot up by more than 30%. After a five day drop of over 79%, today’s premarket gain is a welcomed uptick for investors. While there is no news as to why shares of KLDO are moving, the company is a low-float penny stock.
In addition, a few days ago, the company stated that it planned to cease all operations with a voluntary delisting. This was and is big news for investors and continues to be a major reason that the company is moving right now. So, while KLDO is no longer going to be a company in a short time frame, do you think it’s worth investing in for the meantime?
Clarus Therapeutics Holdings Inc. (NASDAQ: CRXT)
Up by over 28% during premarket trading is CRXT stock. In the past month, shares of Clarus Therapeutics have skyrocketed by more than 43%, with a relatively stable uptrend. The biggest recent news from the company came on March 30th when it announced its Q4 and full year 2021 financial and operating results.
In the results, the company posted net revenue of $14 million, which is a 119% increase YoY. In addition, Q4 net revenue shot up by more than 88% YoY, which is a major update for the company. So, while it is tough to say if this momentum can keep up, there’s no doubting that CRXT is making big moves right now. Whether this makes it worth adding to your list of penny stocks to watch is up to you.
Which Penny Stocks Are You Buying?
Finding the best penny stocks to buy is all about understanding what is going on in the stock market. In April, there are plenty of factors to take advantage of.
However, investors need to know exactly how to use current events to make money with small caps. This means looking at the news consistently and thinking outside of the box. So, with all of this considered, which penny stocks are you buying right now?