Check These 3 Penny Stocks to Watch as EVOK Explodes
With shares of EVOK stock exploding today, there is a lot of momentum with penny stocks right now. As is usually the case during intraday trading, many penny stocks climb, and some fall. But, knowing how to find the right penny stocks to buy, will always be crucial to making money with small caps.
Right now, there are several factors at play that are causing movement in the stock market. This includes Elon Musk’s recent Twitter purchase, issues in Ukraine, rising inflation and interest rates in the U.S., and much more. And because of this, we see that volatility remains extremely high, as well as speculation.
So, the key is to understand how these movements will impact both the penny stocks on your watchlist and industries as a whole. This is a critical part of investing in small caps, and remains paramount to success. So, with all of that in mind, let’s take a look at three penny stocks to add to your end of April watchlist.
3 Penny Stocks to Add to Your End of April Watchlist
Evoke Pharma Inc. (NASDAQ: EVOK)
One of, if not the largest gainer of the day so far is EVOK stock. At EOD, shares of EVOK had shot up by more than 120%. This is a very substantial gain and comes alongside a six month drop of around 23%. So, why are shares of EVOK stock exploding today? Well, the main news comes as the company announced that it was granted FDA market exclusivity for its GIMOTI product. This nasal spray is used in the treatment of recurrent diabetic gastroparesis in adults.
“Receiving marketing exclusivity rights from the FDA for GIMOTI further establishes our proprietary concept of delivering an effective medication through the nasal pathway for the treatment of symptoms associated with diabetic gastroparesis.
We are excited to continue our mission of getting GIMOTI to patients who are in need of a non-oral treatment for gastroparesis and capitalize on this large and growing market opportunity in the U.S.”The Chief Business Officer of Evoke Pharma, Matt D’Onofrio,
In addition to this, the company states that it will have exclusive marketing rights over the drug as well, which is great news. So, while the long term effects of this are not fully known, there’s no doubting the excitement that this deal poses for EVOK stock. Considering this and its over 140% gain today, will it be on your penny stocks watchlist?
Camber Energy Inc. (NYSE: CEI)
Another penny stock that investors are watching today is CEI. We’ve been covering Camber Energy substantially over the past few months, and today, shares managed to climb by around 1% at EOD. While CEI stock has fallen by around 5% in the past month, since April 12th, shares have increased by over 15%. So, why is Camber Energy moving right now?
Well, before we go into any specifics, it’s wroth noting that CEI is highly volatile and speculative. This means that it is likely to climb and fall substantially in the course of a given trading day. And, one of the main reasons behind this is that Camber Energy is often trending online. This is the result of Reddit traders and those on other social media platforms that have caused shares to fluctuate. Aside from this, we can look at Camber Energy from the industry perspective.
Recently, there has been a sizable amount of attention on the energy sector, with companies like Camber and other oil-producing businesses, in focus. So, while Camber Energy is highly volatile, it does have potential to be a penny stock to watch if you are trading it. However, for its long term potential, it may just be worth keeping an eye on for now.
Geovax Labs (NASDAQ: GOVX)
Another major gainer of the day is GOVX stock, which shot up by over 26% by EOD. This is a sizable gain for GOVX and comes alongside a six month drop of over 70%. While many penny stocks climb without news, GeoVax made an exciting announcement during trading yesterday.
It stated that it has been issued patent number 11,311,612, which voters its modified vaccinia Ankara (MVA) vector, expressing antigens from the parasite that causes malaria. This allows it to mimic the virus and stimulate the bodies reaction, this providing recognition and subsequent protection from malaria.
“We remain strongly committed to advancing innovation towards improving public health worldwide and this patent reflects a potentially significant advance relative to malaria prevention.
Our development priorities continue to be our COVID-19 vaccine, currently in Phase 2 clinical trials, and our cancer immunotherapy program, with Gedeptin® as our lead product in a Phase 1/2 clinical trial for Head and Neck cancer.
However, developing vaccines against global public health threats such as malaria, is also part of our longer-term focus.”The President and CEO of Geovax, David Dodd
With this major news in mind, it’s clear that GOVX stock could have a lot to offer investors. Whether this makes it worth adding to your list of penny stocks to buy however, is up to you.
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks that are worth buying can be challenging. But, with so many to choose from, it can be much easier than previously imagined with the right tools on hand.
Because there is such a wide variety of penny stocks, investors need to do their due diligence to find ones that are valuable now, and could be valuable in the long term. So, with all of that in mind, which penny stocks are you watching right now?