Why These High-Volume Penny Stocks Are Climbing Right Now
Using volume as an indicator for which penny stocks are worth buying can be a great addition to your strategy. While volume is not always the reason a penny stock is gaining, it can be a symptom of a large move. Today, we saw major volume with penny stocks like W&T Offshore Inc. (NYSE: WTI) and Cyren Ltd. (NASDAQ: CYRN) respectively. And because of that, we can use volume as a way to identify potential penny stocks to buy or avoid in 2022.
Now, before investing in any penny stocks, traders need to have a well-thought-out trading strategy. This means understanding your own investing style and short/long term goals. Without a strategy, it is extremely easy to lose money with penny stocks. And with one, consistency can mean swift and repetitive gains. So, with all of that in mind, let’s take a look at three penny stocks with high-volume during trading right now.
3 Penny Stocks With High-Volume During Trading Right Now
- AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)
- Verastem Inc. (NASDAQ: VSTM)
- CEL-SCI Corp. (NYSE: CVM)
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI)
One of the bigger gainers of the day on Monday is AGRI stock. At EOD on April 18th, shares of AGRI stock managed to shoot up by over 23%. This is a major gain for the company and comes after a six month gain of over 33%. While there is no news from the company today, it did make a big announcement on March 10th, 2022. On March 10th, the company announced a binding LOI to acquire Deroose Plants NV. This is one of the largest tissue culture propagation companies in the world. The company stated that Deroose had unaudited annual revenue in 2021 of $40.5 million with an EBITDA of $4.2 million.
“Adding to the momentum of our recent definitive agreement with Delphy Groep BV (Delphy), we look forward to welcoming Deroose into the AgriFORCE family of companies, as we continue to move forward with our vision to become a world leader in delivering next-generation foods and plant products for businesses and consumers.
Our two companies are strongly aligned with transforming the agriculture industry through IP, innovative technologies and expertise that enable cleaner, better crops with reduced environmental impact.”The CEO of AgriFORCE Growing, Ingo Mueller
For those who are unfamiliar, AgriFORCE works in the agricultural tech industry. The company develops and produces crop-focused devices for global markets. So, with a major focus on this market, will AGRI be on your penny stocks watchlist?
Verastem Inc. (NASDAQ: VSTM)
Another big gaining penny stock today is VSTM stock. By midday, shares of VSTM stock had shot up by over 5.9% to more than $1.88 per share. This gives it a five day and one month gain of over 23% and more than 40%, which is no small feat.
The biggest news for Verastem came a few weeks ago when it announced inducement grants under the NASDAQ listing rule 5635(c)(4). This allowed it to grant stock options to its nine new employees. For those unfamiliar, Verastem is a biotech penny stock that is developing and commercializing a range of new medicines. The goal with these medicines is to treat a large range of cancers. It does this with the use of small-molecule drugs that inhibit cancer growth.
Right now, there is a major emphasis on biotech stocks, and it has been this way for several weeks. So while VSTM can be volatile, it’s continued bullish momentum in the past few weeks shows that the company is working hard to grow. With that in mind, will it be on your list of penny stocks to buy or not?
CEL-SCI Corp. (NYSE: CVM)
By midday, shares of CVM stock had climbed by more than 20% to over $4. This is a staggering gain that comes after a YTD drop of over 48%. As we see with many penny stocks, there is no news or press announcement to back today’s gain. However, the company is seeing over 24 million in volume compared to its 760,000 65-day average.
The evidence here shows that CVM is highly popular and as a trending penny stock, investors are paying attention, and subsequently investing in it. We often see this with penny stocks, and it can be both a great and terrible thing for investors. The most recent news from the company came back in February when it announced its Q1 2022 financial results.
“Our current focus is in three primary areas, all of which are essential steps towards drug approval.
First, we are assembling the clinical documentation required to obtain FDA approval of a Biologic Product License which will allow commercial marketing of Multikine, second, we are preparing and submitting our compelling data to peer review publications and third, on the production side, we are preparing the facility for FDA inspection as part of the Biologic Establishment License Application process.”The CEO of CEL-SCI, Geert Kersten
All of this is very exciting for the company and investors alike. And as a result, CVM stock continues to see attention. Whether this high volatility makes CVM stock worth buying or not, is up to you.
Can Penny Stocks Continue to Make Gains?
Finding the best penny stocks to buy is all about knowing where to look. And because there is so much going on in the stock market, it can be tricky to make money without the proper knowledge.
But, by understanding why penny stocks are gaining, investors can have a much easier time profiting. With all of that considered, do you think penny stocks are a good investment in 2022 or not?