What You Need to Know About Buying Penny Stocks Today
With another day of trading penny stocks here, there is a lot for investors to consider. After an interesting day in the stock market yesterday, investors are eager to see some bullish price action return into trading today. With penny stocks, we have to remember that volatility will always be quite high. This means that investors need to stay up to date with what is going on in the stock market. With that in mind, let’s take a look at what is going on in the stock market right now.
What’s Going on in the Stock Market Right Now
During premarket trading, we saw U.S. equity futures climb as the market attempts to recover from the week’s volatile trading. Early morning penny stocks gainers like Color Star Technology Co. Ltd. (NASDAQ: CSCW) and VEON Ltd. (NASDAQ: VEON) are in focus among others.
And with new data showing that economic activity in the U.S. shrunk in the beginning of the year, we also saw that the U.S. GDP dropped at a 1.4% annualized rate. So, with all of that in mind, let’s take a look at three penny stocks that are climbing during morning trading right now.
3 Penny Stocks Climbing in Morning Trading
- Statera Biopharma Inc. (NASDAQ: STAB)
- Exela Technologies Inc. (NASDAQ: XELA)
- T Stamp Inc. (NASDAQ: IDAI)
Statera Biopharma Inc. (NASDAQ: STAB)
During morning trading, shares of STAB stock managed to shoot up by over 68% to more than $0.35 per share. This is a major gain that comes after a one month drop of over 30% and a six month drop of more than 94%. The big news for the company comes as it announced a strategic agreement with Immune Therapeutics Inc. for the rights to low dose naltrexone.
The company states that this agreement will help it to gain enough capital to begin treating diseases that have no cure with its pipeline. In the agreement, Statera will receive an initial $2 million payment as well as 5% of outstanding shares of Immune Therapeutics. And, it could also offer up to $400 million in non-dilutive payments. So, with that in mind, will Statera be on your penny stocks watchlist?
Exela Technologies Inc. (NASDAQ: XELA)
Another decent gainer during morning trading is XELA stock. By market open, shares had pushed up by over 12.9% to more than $0.36 per share. In the past month, XELA stock has fallen by over 26%, which shows that this is a decent bullish turnaround for the company. The news from Exela came this morning as it announced a multi-year deal with Finanz.
In the deal, Exela will offer an end to end solution with products such as Digital Mailroom, and more. The company states that this deal is worth millions, which shows why shares of XELA stock are climbing right now. Whether this makes XELA worth adding to your list of penny stocks to buy is up to you.
T Stamp Inc. (NASDAQ: IDAI)
The largest gainer during premarket trading today is IDAI stock. During the morning session, shares of IDAI stock shot up by a staggering 215% from around $2.10 to over $6.62. This staggering gain brings T Stamp out of penny stock territory. So, why did IDAI stock nearly triple in value?
Today, the company announced a new product that offers biometric multi-factor authentication using only a selfie. Its Biometric MFA will allow for spoof-resistant security with no need for passwords. This is a big deal as its applications are widespread including authentication apps, SMS, email, and much more. While it may take some time to roll out this product fully, in the meantime, IDAI stock could be worth keeping an eye on.
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks that are worth buying in 2022 can be difficult. But, with the right information on hand, it can be much easier than previously imagined.
If we consider that there is a sizable amount of momentum in the stock market right now, we see that there are plenty of opportunities to make money with penny stocks. So, with all of that in mind, which penny stocks are you watching right now?