3 Penny Stocks Making Big Moves in Premarket Trading
Understanding how what makes penny stocks move can be an overlooked asset when it comes to trading penny stocks. And the majority of the time, the answer to this question is news, events, press releases, and other speculative events.
Because there is so much going on in the stock market right now, we are seeing major moves with both penny stocks and blue chips. Some examples today include Camber Energy Inc. (NYSE: CEI) and Wastewater Resources Inc. (NYSE: WWR) among others. With that in mind, 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 on April 20th
During premarket trading on Wednesday, stock futures picked up. Dow Jones Industrial Average futures climbed by around 120 points while the S&P 500 and NASDAQ 100 futures climbed by around 0.4% and 0.5% respectively.
Right now, the major focus is on earnings with big players like Tesla and United Airlines expected to report after the market closes today. In addition, the 10-year treasury yield began falling after hitting a 4 year high during yesterday’s trading session. So, with all of this considered, let’s take a look at three penny stocks moving during today’s premarket session.
3 Penny Stocks Moving in Today’s Premarket Session
- Toughbuilt Industries Inc. (NASDAQ: TBLT)
- Energous Corp. (NASDAQ: WATT)
- Redbox Entertainment Inc. (NASDAQ: RDBX)
Toughbuilt Industries Inc. (NASDAQ: TBLT)
During premarket trading, shares of TBLT stock managed to climb by around 8.6%. This brings its five day gain to over 20%, which is quite substantial considering its earlier trajectory. So, why are shares of TBLT stock climbing right now? The big news came yesterday when the company announced its Q4 and full year 2021 results.
In the results, Toughbuilt posted $24.6 million in revenue which is a 105% YoY growth amount. Additionally, for the full year, TBLT announced $70 million in revenue, which is a growth amount of over 77%. These big numbers show that TBLT is growing right now, which continues to be a great sign for investors. So, whether TBLT stock will be on your penny stocks watchlist or not is up to you.
Energous Corp. (NASDAQ: WATT)
Another penny stock that is climbing with sizable volume right now is Energous Corp. During premarket, shares of WATT stock climbed by around 2.8%. This comes after a six month drop of over 47%, which is quite substantial. So, is this a full bullish turnaround for WATT stock or a speculative gain?
Well, the most recent news from Energous came on April 18th when it announced that it received regulatory approval in China for its 1W WattUp PowerBridge transmitter tech. This has been approved by the Ministry of Industry and Information Technology in China for IoT applications. With this approval, it’s clear that investors are interested in the company. Considering that, will it be on your list of penny stocks to watch or not?
Redbox Entertainment Inc. (NASDAQ: RDBX)
With over 3.4% in gains during premarket trading, Redbox Entertainment is another penny stock that is popular with investors right now. Similar to WATT, in the past six months, shares of RDBX have lost a significant amount of value. But, it has begun to show some bullish movement. To understand if that is here to stay, we have to take a closer look at the company and any recent announcements.
The most recent news regarding Redbox came as analysts stated that would cut their statutory estimates for RDBX’s revenue. Even with the downgrade however, Redbox would still bring in a 115% increase YoY in sales. So, whether that is true or not remains to be seen. But with this somewhat positive outlook, RDBX could be worth keeping an eye on.
Which Penny Stocks Are You Buying Today?
Finding penny stocks that are worth buying can be challenging. With so much going on in the stock market constantly over the last year, there is a lot to keep track of. However, because there is so much going on, there are plenty of events to take advantage of. With that in mind, which penny stocks are on your buy list today?