Why These 3 Penny Stocks Climbed Today
During trading on June 10th, we saw the Dow Jones fall by over 800 points, leading to a dismal day for penny stocks. With blue chips and penny stocks both falling substantially, some believe that a recession could be in sight. However, other investors have used these major dips as a way to find penny stocks at bare bottom prices.
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Now, we know nothing with certainty about what the future will hold. But, we do know that volatility is likely to continue to impact the entire stock market in the coming weeks and months. And as a result, it is our job as investors to stay on our toes and understand exactly what our trading strategies are. With all of this in mind, let’s take a look at three penny stocks that climbed during trading today.
3 Penny Stocks That Climbed During Trading on Friday
- TAL Education Group (NYSE: TAL)
- Tantech Holdings Ltd. (NASDAQ: TANH)
- Energy Focus Inc. (NASDAQ: EFOI)
TAL Education Group (NYSE: TAL)
On Friday, June 10th, shares of TAL stock managed to shoot up by over 13%. This is a sizable bullish uptick and comes after a one month jump of more than 39%. While TAL stock is highly volatile, the company has seen some bull moves recently. And, there hasn’t been much news from TAL Education Group to help us understand this gain.
But, we can look at some recent moves to see why shares of TAL stock are climbing right now. The big news for TAL Education Group comes as the Chinese government has worked to lessen restrictions on some companies. And as a result, TAL Education Group has seen some sizable gains as of late. So, with all of this in mind, will it make your penny stocks watchlist or not?
Tantech Holdings Ltd. (NASDAQ: TANH)
Another Chinese penny stock that has seen gains recently is TANH stock. On Friday, June 10th, shares of TANH stock managed to shoot up by over 3.8% and another 2.8% in after hours. These sizable gains are equally difficult to characterize as the company has not released any information recently. So, to try and get a better understanding of what’s going on with Tantech Holdings, we can look at its most recent news.
A few months ago, the company announced that its subsidiary, Shanghai Automobile Co. Ltd. won an additional 10 vehicle order. This was big news when it was announced, however, this was quite a long time ago. Since then, we have seen heightened volatility with Tantech Holdings, which is something to consider. So, whether it deserves a spot on your list of penny stocks to buy or not is up to you.
Energy Focus Inc. (NASDAQ: EFOI)
With 10% in gains at EOD and another 2.3% in after hours trading, EFOI is a penny stock that investors are watching right now. The most recent news from the company came on June 3rd when it announced a $3.5 million private placement priced at-the-market. The company states that it will sell warrants which will go toward general corporate purposes and reducing its outstanding promissory notes.
Recently, we’ve been covering EFOI stock heavily due to its sizable market momentum. And, if you’re not familiar, Energy Focus is a provider of LED tech and solutions. This includes LED lighting, UVCD tech, and much more. While it is hard to say if shares of EFOI stock will continue to see gains, its five day uptick of more than 70% is encouraging. With all of this considered, do you think that EFOI stock is a buy or not?
Which Penny Stocks Are You Watching Right Now?
After a relatively rough day of trading for penny stocks and blue chips, there is a lot that investors need to know. Right now, we continue to see a sizable amount of movement with penny stocks. This is the result of a large amount of news and financial impacts on the market. And because there is no end in sight here, many investors are trading relatively conservatively right now.
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So, the best way to have a heightened chance of making money with penny stocks is to understand what is going on in the stock market and how to take advantage. While it can seem difficult, with a solid trading strategy, it is much easier than previously imagined. Considering this, which penny stocks are you watching right now?