What To Know About Buying Penny Stocks on April 26th
With so many penny stocks to choose from, it can seem difficult to pick the best ones to buy. However, because there is such a large variety of small caps out there, finding ones that have the opportunity to be profitable, is completely doable.
To understand how investors need to know exactly what is going on in the stock market. Because penny stocks are so speculative, considering the news is crucial. 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 Today
During morning trading, we saw some big gainers like Borqs Technologies Inc. (NASDAQ: BRQS) and Vascular Biogenics Inc. (NASDAQ: VBLT) take hold. On Tuesday Morning, we also saw stock futures fall amidst earnings reports from some major tech players like Alphabet and Microsoft.
This comes after a major reversal yesterday that brought the stock market to a positive close from a major midday loss. So, with all of this considered, here are three penny stocks that are climbing during premarket trading.
3 Penny Stocks Gaining During Premarket Trading
- Agile Therapeutics Inc. (NASDAQ: AGRX)
- Avadel Pharmaceuticals Plc (NASDAQ: AVDL)
- Venator Materials Plc (NYSE: VNTR)
Agile Therapeutics Inc. (NASDAQ: AGRX)
Agile Therapeutics is one of the bigger gainers so far today with over 19% in gains during morning trading. This comes after a five day and one month drop of more than 19% and over 45%. So, is this bullish turnaround simply the result of a switch from its recent momentum, or is it due to news from the company?
Well, during morning trading, the company announced a 1-40 reverse stock split. There goal with this is to increase its current price from $0.14 per share. While this will not have any intrinsic effect on Agile’s value, it is an important prospect to consider. With that in mind, will AGRX be on your penny stocks watchlist?
Avadel Pharmaceuticals Plc (NASDAQ: AVDL)
Another big gainer so far is AVDL stock, which managed to climb by more than 30%. This is a major gain that comes after a sizable drop with AVDL stock yesterday. As a result, it appears as though AVDL’s time as a penny stock is limited with its price already over $5 per share.
While there is no news regarding the company, we often see speculative moves like this with penny stocks. And, the company did release a statement regarding this trading. It essentially stated that it is not aware of any news that would cause this gain or drop. So, with this major momentum in mind, does AVDL deserve a spot on your list of penny stocks to buy?
Venator Materials Plc. (NYSE: VNTR)
Last but certainly not least is VNTR stock, which managed to shoot up by over 13% during morning trading. This comes alongside a 30% drop YTD, which is quite substantial. The big news for Venator comes as the company announced it received $85 million in cash from a settlement with Tronox. The deal will resolve all ongoing legal disputes between the two companies, which is a great announcement for investors.
In addition, this capital should be plenty for the company to continue building its operations. As a manufacturer of chemical products, Venator is a large provider of pigments and additives to over 110 countries. And with this big news in mind, it’s clear that VNTR is a popular choice for investors. Whether this makes it worth buying or not however, is up to you.
Are Penny Stocks Worth Buying Right Now?
With the stock market as volatile as it is right now, making money with penny stocks can be difficult. However, because there is so much going on in the stock market, there is also a lot for investors to take advantage of.
Considering the sheer amount of momentum right now, investors need to have a consistent understanding of what is going on, and how to use that as a benefit. So, with all of that in mind, do you think penny stocks are worth buying right now or not?