What to Know About Buying Penny Stocks on April 27th
With another day of trading penny stocks and blue chips here, there is a lot for investors to know. Now, while it may be difficult to find the best penny stocks to buy, understanding what is going on in the stock market will always be a crucial step to doing just that. And in 2022, there is more than enough information to go around. 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
After yesterday’s major selloff bringing the market down significantly for the year, we are beginning to see some signs of a recovery. Early morning penny stock gainers like Camber Energy Inc. (NYSE: CEI) and Bitnile Holdings Inc. (NYSE: NILE) are a good sign of that.
However, we are seeing rebounds with tech stocks right now. Much of this was brought on by a less than stellar quarterly earnings season, however, there is a lot going on in the stock market at large. So, with all of that in mind, let’s take a look at three penny stocks that are climbing in premarket trading.
3 Penny Stocks Climbing in Morning Trading
- Cosmos Holdings Inc. (NASDAQ: COSM)
- Acutus Medical Inc. (NASDAQ: AFIB)
- Kintara Therapeutics Inc. (NASDAQ: KTRA)
Cosmos Holdings Inc. (NASDAQ: COSM)
One of the largest gainers of the day on April 27th, is COSM stock. During morning trading, shares of COSM managed to shoot up by over 112% to more than $2.25 per share. This adds to its over 20% gain on Tuesday, April 27th. And while COSM stock has not released any news in the past few days, it did make an announcement a week or so ago.
On April 19th, the company stated that it achieved $3.3 million in adjusted EBITDA for the fiscal year 2021. And, this growth could be the reason that investors are watching COSM stock right now. While it is no where near enough to justify a triple digit gain, we often see speculation as the root cause for many major upticks. With that in mind, will COSM be on your penny stocks watchlist?
Acutus Medical Inc. (NASDAQ: AFIB)
During morning trading, shares of AFIB stock climbed by over 45%. While this may not seem like much compared to COSM stock, it is still a very substantial amount. The big news with AFIB stock came this morning as it announced an agreement to fund its growth plan.
This includes debt refinancing, selling its Left-Heart access portfolio, adding financial advisors and more. As a result, the company expects to continue growing utilizing these strategic methods. While it will likely take some time to see the full effects of this, there’s no doubting that this is an exciting prospect. Considering that, will AFIB stock be on your list of penny stocks to buy or not?
Kintara Therapeutics Inc. (NASDAQ: KTRA)
With around 4% in gains during morning trading, KTRA is another penny stock that investors are watching right now. The most recent news from the company came this morning as it announced it would be presenting at the Planet MicroCap Showcase, which takes place in early May.
And only a week or two before that, the company announced the closing of an $8.6 million registered direct offering priced at the market. Recently, we’ve seen a sizable amount of bullish sentiment toward biotech penny stocks. And Kintara seems to be the latest one to feel this momentum. So, with that considered, do you think KTRA stock is worth buying or not?
Which Penny Stocks Are You Watching Today?
If you’re looking for the best penny stocks to buy, there are hundreds of options to choose from. Because of the sheer number of penny stocks out there, it is up to investors to find which ones may have value in the present or the future.
Considering the large volatility in the stock market right now, traders should also have a thorough understanding of exactly what is going on day to day. With all of that in mind, which penny stocks are you watching right now?