3 Penny Stocks That Exploded During Trading Today
If you’re looking for the best penny stocks to buy, there are hundreds to choose from. And after several days of bearish market trading, we are seeing some penny stocks with explosive gains right now. Although it is hard and nearly impossible to predict which penny stocks we will see make gains in the coming weeks, we can use the information at our disposal to try and make assumptions.
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This involves looking at the news, press releases, and any information put out by the company. All of this information will give you the best chance of making money with penny stocks in 2022. So, while volatility is extremely high, penny stocks don’t like to play by the same rules as blue chips. For that reason, there are still ways to profit even on bearish trading days. Considering all of this, here are three penny stocks that exploded during trading today.
3 Penny Stocks to Add to Your Watchlist Right Now
- Sidus Space Inc. (NASDAQ: SIDU)
- Evoke Pharma Inc. (NASDAQ: EVOK)
- Comera Life Sciences Holdings Inc. (NASDAQ: CMRA)
Sidus Space Inc. (NASDAQ: SIDU)
One of the largest gainers on June 15th is SIDU stock. By EOD, shares of SIDU stock had shot up by a staggering 110% to more than $3.06. This is a major gain for the company only six months ago or so, shares of SIDU stock were well over $10 per share. So, to understand whether it’s worth buying or not, we have to take a closer look at why shares are pushing up right now.
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Today, the company announced that it is a teammate on NASA’s $3.5 billion exploration contract. This contract deals with extravehicular activity services. The company states that this xEVAS contract could be worth $3.5 billion within the next few years through 2034.
“We are proud to be part of the Collins xEVA team in development and manufacturing of the next generation space suits to support ISS and Artemis, allowing humans to walk and explore the moon.
Over the last 10 years, Sidus has been manufacturing space hardware and participating in every major space project. We are looking forward to playing a meaningful role in this exciting opportunity, continuing our legacy of creating new revenue streams through strong partnerships.”The CEO of Sidus Space, Carol Craig
With all of this in mind, do you think SIDU stock is worth adding to your list of penny stocks or not?
Evoke Pharma Inc. (NASDAQ: EVOK)
Another major gainer on June 15th is EVOK stock, which shot up by over 45%. If you’re not familiar, Evoke Pharma is a specialty pharmaceutical company working on treatments for GI diseases. This includes an emphasis on GIMOTI, which is a nasal spray. The company recently stated that the Florida Medicaid Pharmaceuticals & Therapeutics Committee has approved adding GIMOTI to its preferred drug list or PDL. This is a major deal of the company as it should add a large amount of revenue for Evoke Pharma.
“Medicaid approvals across various jurisdictions are one of the primary components of our business plan to increase GIMOTI access. With this addition, we believe we are steadily executing the right strategies to ensure that healthcare providers around the country have the option to make GIMOTI the standard of care for diabetic gastroparesis.”Matt D’Onofrio, MBA, the Chief Business Officer of Evoke Pharma
While this major gain is highly speculative, it is encouraging for investors to consider. And, in the past few weeks, we’ve seen some major bullish sentiment with biotech penny stocks. This is a major reason for EVOK seeing heightened attention recently. Considering that, will EVOK be on your penny stocks watchlist today?
Comera Life Sciences Holdings Inc. (NASDAQ: CMRA)
On June 15th, we saw shares of CMRA stock shoot up by a very sizable 34%. And if this seems like a lot, in the past five days, shares of CMRA stock have exploded by more than 145%. While there are no announcements regarding the company including filings or reports, we have seen heightened interest in CMRA stock due to social media.
The company only recently began trading on the NASDAQ on May 20th, which could be part of the hype around the company. And as a biotech penny stock, it is likely also benefitting from the bullishness on the bio industry that we’ve mentioned previously.
The company states that it intends to transform how biologic drugs are delivered into the body. And, it currently has a range of partnerships that are allowing it to do so. So, while CMRA is highly volatile, it could be worth adding to your list of penny stocks to watch.
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy in 2022 is challenging. And with so much going on in the stock market, keeping up with the ins and outs of the market is likely difficult. But, the best way to take advantage of market momentum is to understand exactly what is going on and how to take advantage.
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Right now, we have issues such as rising inflation, climbing interest rates and more. And because of this, we’ve seen major bearish sentiment in the past few weeks. So, keeping all of this in mind, which penny stocks are you watching right now?