3 Penny Stocks That Exploded During Trading Today
If you’re looking for the best penny stocks to buy, there are plenty of options to choose from. But, investors need to make sure that the companies on their lists, are penny stocks that are worth investing in. Here are a few things to consider when making a list of penny stocks to buy. For one, always make sure to do your own research. This means taking a look at the financials of the company, as well as learning about their business model.
Next, traders should always have a consistent strategy on hand. Because penny stocks tend to be more volatile than blue chip stocks, it’s important to have a risk management strategy in place. Finally, always remember that penny stocks are a speculative investment, so don’t bet more than you can afford to lose.
And because they are so speculative, it is crucial to understand what the driving force of movement in the stock market is. With penny stocks, we tend to see any and all news have a large and consequential effect on value. So, while this high level of volatility can be scary, it can also be a major positive for some. Again, this has all to do with your trading strategy and risk tolerance. So, with all of this in mind, let’s take a look at three penny stocks that exploded during trading today.
3 Penny Stocks to Add to Your Watchlist Right Now
- AeroClean Technologies Inc. (NASDAQ: AERC)
- Yumanity Therapeutics Inc. (NASDAQ: YMTX)
- Missfresh Ltd. (NASDAQ: MF)
AeroClean Technologies Inc. (NASDAQ: AERC)
One of the largest gainers on June 6th is AERC stock. At EOD, shares of AERC had shot up by over 70% to more than $4.08 per share. This major uptick reflects news that the company announced during trading on June 6th.
To understand this further, we have to take a closer look. Today, the company announced that it received FDA clearance for its Purgo medical grade air hygiene product. This 510(k) clearance will give the company the right to call this a medical device. And, it can then be used in a variety of applications for removing bacteria, fungi, and viruses from the air. This includes uses such as hospitals, businesses, healthcare facilities and much more.
“We are proud to have been granted FDA clearance for AeroClean’s Pūrgo™ device and thank the administration for their in-depth review of our patented air hygiene technology. As experts in indoor air quality, we aim to provide healthcare facilities, businesses, hospitality venues and government agencies with the highest medical-grade air purification and air sanitization technology.”The CEO of AeroClean, Jason DiBona
Right now, we are seeing major bullish sentiment with biotech penny stocks. And as a result, it’s clear that AERC could be worth keeping an eye on. With this in mind, will it be on your penny stocks watchlist or not?
Yumanity Therapeutics Inc. (NASDAQ: YMTX)
Another major gainer of the day on June 6th is YMTX stock. At EOD, shares of YMTX had shot up by more than 38%. And if that’s not enough, in the past five days, shares of YMTX stock have exploded by more than 79%. So, why the major gain for YMTX? Well, the company made an exciting announcement on June 6th.
During morning trading, it announced a definitive agreement for two strategic transactions. This includes selling its YTX-7739 and other discovery-stage neuroscience products to Janssen Pharmaceutica NV for $26 million in cash. In addition, the company will merge with Kineta Inc., which is a private immuno-oncology company.
“After evaluating Yumanity’s strategic alternatives, management and our Board of Directors believes that the proposed transactions are in the best interest of Yumanity’s stockholders. We are excited that our lead clinical-stage neurology asset and unpartnered assets will continue to be developed and we are very enthusiastic about Kineta’s innovative oncology pipeline.”The CEO of Yumanity, Richard Peters
This is very exciting news for the company and shows that it is working hard to grow. While it is tough to say what the long term trajectory of this will be, it’s clear that there is a lot to consider with YMTX. So, will it be on your list of penny stocks to buy?
Missfresh Ltd. (NASDAQ: MF)
While MF stock’s 20% gain may not seem like much compared to the other stocks on this list, it is still highly substantial. And in the past five day period, shares of MF have exploded by over 75%, which is no small feat.
Now, we’ve covered MF stock numerous times in the past few weeks due to these major increases. And to understand why MF stock is moving, we can look at its most recent announcements. A few weeks ago, the company announced that it tripled its food volume in order to meet consumer demand.
This comes as the demand for delivery food in China has grown substantially in the past few weeks. And although it recently received a notice regarding it not meeting the NASDAQ minimum bid requirement, the company has been making some headway. Considering all of this, do you think it is worth buying or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks that will make you money, there are hundreds to choose from. But, finding the best penny stocks to buy in 2022 can be challenging. That is why consistent research and a thorough understanding of what is going on in the stock market is crucial.
And, with so many different penny stocks to choose from right now, investors need to stay on their toes. So, with all of this in mind, which penny stocks are you watching right now?