3 Penny Stocks to Watch That Are Moving in Premarket Trading
With penny stocks and blue chips at a very volatile point, there is a lot for investors to consider right now. Today, we’ve witnessed premarket gainers like Swvl Holdings Corp. (NASDAQ: SWVL) and Redbox Entertainment Inc. (NASDAQ: RDBX) bring in attention.
However, the sheer movement that we’re witnessing in the stock market right now continues to be characteristic of 2022. With this in mind, let’s take a look at what you need to know about trading penny stocks today.
What to Know About Trading Penny Stocks Today
During early morning trading, U.S. stock futures pushed up. This is the result of positive earnings from many large corporations, which signal a bullish turn following rising inflation and tightening monetary policy by the Fed.
In premarket, contracts on the S&P 500 pushed up by around 0.9% with NASDAQ futures doing the same. In addition, those that are reporting positive results such as Tesla Inc. (NASDAQ: TSLA), have been climbing as well. So, considering all of this, here are three penny stocks that are moving in early morning trading.
3 Penny Stocks Moving in Early Morning Trading
- Borqs Technologies Inc. (NASDAQ: BRQS)
- Guardforce AI Co. Ltd. (NASDAQ: GFAI)
- Mullen Automotive Inc. (NASDAQ: MULN)
Borqs Technologies Inc. (NASDAQ: BRQS)
One of the bigger premarket gainers today is BRQS stock. During morning trading, shares of BRQS managed to climb by more than 17%. This is a major gain for it and comes alongside an even more substantial five day gain of 79%. So, what’s going on with BRQS stock right now? To understand this, we have to take a closer look at the company.
Around a week ago, Borqs announced that it purchased a 5G license with Qualcomm, which will allow it to produce 5G products utilizing Qualcomm’s tech. This is a big deal for Borqs and seems to be the reason behind its recent gains. With that in mind, will it be on your penny stocks watchlist?
Guardforce AI Co. Ltd. (NASDAQ: GFAI)
Guardforce AI is a penny stock that we have covered multiple times in the past few weeks. And with a 38% gain during premarket, GFAI stock is once again in focus. This major premarket uptick comes after shares of GFAI stock have fallen by around 50% in the past month.
And as a result, it could be a bullish turnaround for the company. Today, it did announce that it has begun its initial U.S. robotics solutions rollout. This has begun in New Jersey where the company is based. While this is just the beginning, this is without a doubt an exciting prospect for the company. Whether this makes it worth adding to your list of penny stocks to buy is up to you.
Mullen Automotive Inc. (NASDAQ: MULN)
During premarket trading, shares of MULN stock rocketed higher by over 19%. And similarly to GFAI, this comes after a YTD drop of over 75%. While many penny stocks climb without news, today, Mullen announced that it would conduct solid-state polymer battery cell testing with an independent company in Indiana.
This independent facility, the Battery Innovation Center, will test to see if Mullen’s solid-state lithium battery can deliver over 600 miles of range on a repeatable basis. The testing will be great news for investors if all comes back positive. With that considered, is MULN stock worth buying or not?
Which Penny Stocks Are On Your Watchlist Right Now?
If you’re looking for the best penny stocks to buy, it can be a daunting task considering the sheer amount of movement in the stock market. However, because there is so much movement right now, there is also a lot for investors to take advantage of.
With bullish price action over the last few trading days, investors can rejoice in the fact that there is positive momentum right now. Considering that, which penny stocks are on your watchlist today?