What You Need to Know About Buying Penny Stocks Today
With another day of trading penny stocks and blue chips here, there is a lot that investors need to keep track of. In the past week or two, we’ve seen mostly bearish trading patterns. This is the result of overwhelming volatility in the stock market. And, with more of that likely to come in the next few weeks, investors need to work on staying ahead. 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 the Stock Market Today
While early morning gainers like Brickell Biotech Inc. (NASDAQ: BBI) and Immutep (NASDAQ: IMMP) are popular, there is plenty to watch in the stock market. Ahead of the market open, U.S. stock futures were higher.
This comes as investors wait for the next decision from the Fed. And, with inflation climbing, interest rates rising, and a shrinking labor market, investors are concerned about the future. So, with that considered, here are three penny stocks that are climbing during morning trading.
3 Penny Stocks Climbing in Morning Trading
Rail Vision Ltd. (NASDAQ: RVSN)
One of the largest morning gainers so far today is RVSN stock. Before market open, shares of RVSN stock had shot up by over 57%. And in the past month, shares of RVSN stock have shot down by around 45%. So, today’s move could be the result of a bullish turnaround for RVSN stock. In addition, Aegis Capital did initiate the stock as a buy with a $7 price target.
This is important as it shows there is fundamental strength behind RVSN stock. In addition, this comes as Aegis Capital also acted as the sole book runner on its $15.6 million IPO. So, while the correlation here is worth looking into, RVSN stock could be worth adding to your list of penny stocks to watch.
Clarion Inc. (NASDAQ: ACON)
Another decent morning gainer today is ACON stock. By early morning, shares of ACON stock had shot up by over 12%. And since mid-April, shares have fallen by around 36%. This increase comes only a few weeks after ACON stock IPO’d on the NASDAQ exchange. Typically, after an IPO, we tend to see very volatile trading patterns, with this being no exception.
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And although shares have declined since, it looks like we are beginning to see initial signs of a bullish turnaround. While it is too soon to say if Clarion is worth buying or not, it’s clear that investors are interested in the company. Whether this makes ACON stock a worthwhile add to your penny stocks watchlist or not is up to you.
Oatly Group (NASDAQ: OTLY)
With over 1.4% in gains and decent volume in morning trading, OTLY is a penny stock that is popular right now. The big news for the company comes as it announced Q1 2022 revenue of $166.2 million, which is an 18% increase YoY. In addition, it announced EMEA revenue of $90.9 million, which is an over 10% increase YoY.
These numbers are very respectable, especially considering supply restraints and other global issues at play right now. And while we haven’t seen the effects of these changes on OTLY stocks price yet, it could be worth keeping an eye on moving forward.
Which Penny Stocks Are You Watching Right Now?
Because there is so much going on in the stock market right now, understanding where to find the best penny stocks to buy is crucial.
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And with factors such as inflation, rising interest rates, and much more all impacting the trajectory of penny stocks, investors should also have a thorough understanding of how to trade penny stocks. So, with all of this in mind, which penny stocks are you watching right now?