3 Penny Stocks to Watch That Are Climbing Right Now
With so many penny stocks to choose from, how do you know which ones are worth investing in? Well, to understand this, there are a few tips that investors can utilize. For one, we know that penny stocks are some of the most volatile and speculative financial instruments out there. And rather than let that fact cause us losses, we can use it to our advantage. With high speculation, it is crucial to look for stocks with recent news and high liquidity.
This way, we can understand when and if a penny stock will move and whether or not we will have the ability to buy and sell it. Another important factor to look for is a company’s financial stability. This is known as fundamentals, and it is an important part of investing in penny stocks. While fundamentals do not play as large of a role as speculation in price changes, it is important to understand a company’s financial position. This will help you to know if the company is worth investing in and whether or not the stock is under or overvalued.
Finally, it is also important to have a good understanding of technical analysis. This is especially key when trading penny stocks because they are so volatile. Technical analysis will help you to understand price patterns and make better-informed decisions about when to buy and when to avoid. With this in mind, let’s take a look at three penny stocks to watch that are climbing right now.
3 Penny Stocks to Add to Your May Watchlist
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Tonix Pharmaceuticals (NASDAQ: TNXP)
- Borqs Technologies Inc. (NASDAQ: BRQS)
Vinco Ventures Inc. (NASDAQ: BBIG)
One of the largest gainers of the day during trading is BBIG stock. This comes after a major after hours gain from BBIG yesterday on May 5th. So, why the big momentum for Vinco Ventures stock? While shares of BBIG stock have fallen substantially in the last month period, this recent bullish momentum is encouraging for investors.
The big news comes as the company made an exciting announcement on May 5th. It stated that on May 18th, the company will offer dividends via common stock of Cryptyde Inc. This will be distributed to those who own Vinco Ventures shares, as it will separate Vinco and Cryptyde into two independent companies. The deal will offer one share of Cryptyde common stock for every ten shares of BBIG stock. This is exciting news for BBIG and shareholders alike.
If you’re not familiar, Vinco Ventures is a developer of a large range of digital media and content focused entities. It has several holdings such as its subsidiary, ZASH Global Media, an 80% stake in Lomotif, and more. So, with this exciting update, it’s clear that BBIG stock is in focus right now. But, whether it’s worth adding to your list of penny stocks to buy is up to you.
Tonix Pharmaceuticals Inc. (NASDAQ: TNXP)
Another penny stock that is climbing during trading right now is TNXP stock. At midday, shares of TNXP stock had shot up by over 3.4%. Despite a six month drop of over 70%, there seems to be some bullish price action for TNXP stock right now. And to understand why, we have to take a look at the company and any recent announcements it has made.
The biggest update from Tonix came on April 28th when it announced that it would be presenting at the 2022 Q2 Investor Summit on May 4th. Since this happened a few days ago, this could be one of the reasons that we are seeing bullish momentum with TNXP stock. In addition to this, we have seen major momentum with biotech stocks at large over the past few months. And because of that, TNXP could be another penny stock with movement as a result.
For some context, Tonix is a biopharmaceutical company that specializes in therapeutics used to treat or prevent human disease. This includes those used in CNS disorders as well as autoimmunity and cancer treatments. So, with all of that in mind, do you think that TNXP is a worthwhile addition to your penny stocks watchlist or not?
Borqs Technologies Inc. (NASDAQ: BRQS)
During trading today we did see some gains with BRQS stock, despite a midday drop. Regardless, there has been some sizable movement with BRQS stock recently. In the past five days, shares of BRQS have fallen by over 36%. However, from April 13th to April 26th, shares of Borqs managed to explode by over 135%. While it’s not likely that we will see another gain of this magnitude in the next few days, it is exciting to see that this sentiment exists with Borqs stock.
Today, the company announced its 2021 full year report in a Form 20-F filing. In the report, it stated that 2021 revenue came in at $29.56 million, which is 10% greater YoY. Despite a net loss of $56 million, it’s revenue growth is encouraging.
Similarly to biotech stocks, we have seen major positive movement with tech stocks recently. And, Borqs is a producer of software and products in the IoT space, which has seen its own share of bullish movement in the past few days. While BRQS stock is highly volatile, the company looks like it could be an interesting penny stock to keep an eye on. So, whether it is worth buying or not is up to you.
Which Penny Stocks Are You Watching Right Now?
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. Because of the sheer number of penny stocks out there, it can be tough to find ones that will be consistently profitable.
But, when it comes to finding penny stocks that are worth buying, it’s all about understanding what is going on in the stock market. The main driver of movement with penny stocks is speculation, and therefore, looking at news and announcements will always be crucial to your success as an investor. With that in mind, which penny stocks are you watching right now?