What to Know About Buying Penny Stocks on April 25th
With another day of trading penny stocks here, there is a lot for investors to consider. Now, with so much going on in the stock market in the past few months, investors should be used to a high level of volatility.
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And while these large movements can be scary, they can also present a major opportunity to make money with penny stocks. Some major movers today include Sunshine Biopharma Inc. (NASDAQ: SBFM) and Borqs Technologies Inc. (NASDAQ: BRQS) among others. With this 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 Stocks Today
Ahead of market open on Monday, April 25th, there is a lot that investors should know. Early morning trading is showing that the market may open lower following major declines that occurred on Friday.
This comes as the Fed may continue to be highly aggressive in its fight against inflation. And with the price of oil dropping significantly and worldwide tensions still high, there is a lot of volatility to go around. So, with this considered, let’s check out three penny stocks that are gaining in morning trading.
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3 Penny Stocks Gaining in Morning Trading
- Ardelyx Inc. (NASDAQ: ARDX)
- Erytech Pharma (NASDAQ: ERYP)
- Cenntro Electric Group Ltd. (NASDAQ: CENN)
Ardelyx Inc. (NASDAQ: ARDX)
One of the bigger gainers of the day in premarket trading is ARDX stock. By early morning, shares of ARDX stock had shot up by over 32% to more than $0.99. This comes after a one month drop of over 29%, which brought ARDX stock well under the $1 range. So now, at around $1, investors are paying attention to Ardelyx Inc. once more.
The big news for the company comes as it announced the FDA planned to have a panel meeting regarding its appeal for Xphozah. This is a big deal for the company and could prove beneficial if all goes according to plan. So, with that in mind, will ARDX be on your penny stocks watchlist or not?
Erytech Pharma (NASDAQ: ERYP)
Another major gainer on the morning of April 25th is ERYP stock. During morning trading, we saw shares of ERYP stock push up by over 49% to more than $1.82 per share. The main news for the company comes as it announced the sale of its U.S. cell therapy manufacturing plant to Catalent.
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This deal, worth $44.5 million, will bring in a significant amount of capital to the company. The company stated that it will now focus its capital on new therapies for serious diseases as well as other partnerships and more. This is a very exciting and transformative time for ERYP stock, and its major gain today shows that. While it is quite volatile, it could be worth adding to your list of penny stocks to watch.
Cenntro Electric Group Ltd. (NASDAQ: CENN)
With over 14% in gains by early morning, Cenntro Electric is a penny stock that we have covered numerous times. This gain comes after a significant gain on Friday that brought a sizable amount of attention to CENN stock. The most recent news of consequence for the company came on March 25th when it announced the completion of the acquisition of a majority interest in Tropos Motors Europe.
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This added a major European customer network to the company, which many investors are interested in. And while Cenntro Electric has been mostly quiet since then, there is no doubting that this is an exciting prospect. So, while its gain today may be mostly speculative, there is a lot of interest in the company as a whole. With that considered, is CENN stock worth buying or not?
Which Penny Stocks Are You Buying Right Now?
Finding the best penny stocks to buy can be tricky in 2022. With so much movement in both directions, understanding where to look to make money with penny stocks, is not easy.
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But, by looking at what is going on in the market and considering how to use those factors to your advantage, it can be much easier than previously imagined. So, with all of that in mind, which penny stocks are you buying right now?
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