What to Know About Buying Penny Stocks Today
With so much going on in the stock market right now, there is a lot for investors to know about trading penny stocks. To understand how to make money with penny stocks, investors need to have a thorough consideration of what is going on in the stock market.
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Because there is such a high degree of volatility, this is a crucial step to profiting with small caps. With that in mind, let’s take a look at what you need to know about trading penny stocks today.
Here’s What You Need to Know About Trading Penny Stocks Today
During premarket trading, we saw U.S. stock futures fall with tech stocks leading to the drop. This comes as shares of big-name tech stocks like Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) dropped during premarket trading. While other stocks like Takung Art Co. Ltd. (NYSE: TKAT) and Nokia Oyj (NYSE: NOK) made gains, there’s no doubting that we’re in for another volatile day of trading. With that in mind, let’s take a look at three penny stocks that are climbing during morning trading.
3 Penny Stocks Climbing During Morning Trading
- Finch Therapeutics Group Inc. (NASDAQ: FNCH)
- Fangdd Network Group Ltd. (NASDAQ: DUO)
- DiDi Global Inc. (NYSE: DIDI)
Finch Therapeutics Group Inc. (NASDAQ: FNCH)
One of the largest premarket gainers on April 29th is FNCH stock. During morning trading shares of FNCH shot up by over 67% to more than $3.52. While many penny stocks climb without news, Finch Therapeutics announced the removal of an FDA clinical hold on its IND for CP101.
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Now, the company can continue researching this drug, which is used in recurrent C. Difficile infection. Recently, we have seen a sizable amount of bullish attention with biotech penny stocks. And with this big news today, it’s clear why shares of FNCH stock are climbing right now. With that in mind, will it be on your penny stocks watchlist or not?
Fangdd Network Group Ltd. (NASDAQ: DUO)
Another major gainer of the day on April 29th is Fangdd Network Group. We’ve covered DUO stock numerous times in the past year, however, it’s 55% premarket gain is worth looking into. Before we go any further, it’s worth noting that DUO stock is highly volatile.
This means that investors should be sure of their trading strategy before investing. While there is no news for DUO stock that is causing this gain, it is the third day in a row that the company has seen a large uptick. And because of that, today’s move could be considered purely speculative. With that considered, will DUO be on your list of penny stocks to buy?
DiDi Global Inc. (NYSE: DIDI)
Similarly to DUO stock, we have covered DIDI plenty of times in the past few months. This is due to its large market momentum and constant notoriety. During morning trading, shares of DUO stock shot up by over 17%. This is a sizable amount and comes alongside some larger market news in China.
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On Friday morning, news came out stating that Chinese regulators may ease their recent crackdown on tech companies. This caused major momentum during morning trading today for Chinese stocks, and could continue to do so moving forward. Large regulation by China has been a major cause for bearish momentum with Chinese stocks in the past few months, so there’s no doubting that this is good news.
Which Penny Stocks Are You Watching Right Now?
Finding penny stocks that are worth buying in 2022 can be complicated. But, with the right research on hand and a commitment to understanding how the stock market works, it can be much easier than previously imagined. Considering that there is a lot to take advantage of with penny stocks right now, which companies are on your watchlist?
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