Best Penny Stocks To Buy
We’ve discussed ways to find the best penny stocks to buy. It all boils down to your trading style and stock market strategy. Essentially, how you trade will determine the types of stocks you look at.
If you’re swing trading, chances are that one day, fast-moving stocks aren’t likely to fit your investor profile. Then again, penny stocks that move very slowly and take days or weeks to experience significant gains aren’t the best if your goal is to trade penny stocks in a single-day.
This article looks at some of the high-volume penny stocks to watch right now. They’ve captured retail traders’ interest in the stock market today. Some are jumping after releasing news, while others have garnered a more speculative sentiment based on different factors.
With the stock market crash continuing, penny stocks have maintained a unique place among other risky assets because they tend to follow their own trends. Even amid the worst stock market crashes over the last few years, chances are good that you’ll find at least a few penny stocks skyrocketing.
3 Penny Stocks To Watch
Medigus (NASDAQ: MDGS)
There’s no shortage of excitement around penny stocks under $1; right now, Medigus is the latest to join in on the action. Shares hit fresh 52-week lows on Thursday but strongly bounced to finish the week.
Why Is MDGS Stock Moving?
Late this week, Medigus announced its first-half financial results for 2022, and they came in strong. Just how strong? The company reported record first-half figures, including sales of over $34.59 million and a loss per share of 15 cents. This revenue figure blew away the previous year’s first half numbers, which were $2.39 million.
“Our record first half of 2022 financial results are a direct result of our work over the past two years and clearly demonstrate the value in our approach to engage in innovative technology companies with high upside potential,” stated Liron Carmel, CEO of Medigus. “As we continue to execute on our diversified business model and add value to our operating segments, we believe Medigus is in a great position to further grow shareholder value with multiple near-term catalysts.”
Athersys Inc. (NASDAQ: ATHX)
Shares of Athersys have been dropped for the last few weeks ever since the company’s 1 for 25 reverse stocks split. However, closing the week, ATHX stock pulled an abrupt about-face following its latest round of headlines.
Leading up to the reverse, Athersys launched a Phase 2 ATH424 trial in patients with multiple system atrophy in Europe. It also posted favorable preclinical results for its MultiStem treatment in a Defense Department radiation countermeasure study. Results demonstrated that intravenous MultiStem provided benefit of acute radiation syndrome in an animal model. The platform showed its ability to increase survival in treated animals and positive trends in hematopoietic system recovery.
Why Is ATHX Stock Moving?
This week Athersys announced a securities purchase agreement connected to its prior offering. CEO Dan Camardo commented that the company could have more financial flexibility due to the agreement. Athersys has an upcoming shareholder conference call at the start of October, where there is already a plan to release an update with more participation details at a later date.
Evaxion Biotech (NASDAQ: EVAX)
Unlike the stock market this week, Evaxion stock has been climbing higher. The AI-driven biotechnology company has recently begun enrolling patients into a global Phase 2b clinical trial. This trial will study EVX-01, which is Evaxion’s melanoma treatment candidate. Safety and efficacy will be reviewed in adults with metastatic melanoma. As part of the global study, the trial is being conducted in the US, Europe, and Australia in collaboration with Merck, which is supplying its breakthrough immunotherapy drug, KEYTRUDA.
Why Is EVAX Stock Moving?
Since this news broke, trading activity has grown in EVAX stock. Some profit-taking following the initial headlines has stepped aside for another bullish rally at the end of the week. Aside from EVX-01, other pipeline candidates are expected to reach certain milestones during the second half of the year. For example, it’s anticipating a Phase 1 regulatory filing for its EVX-03 in patients with non-small cell lung cancer, pending new capital being raised. It’s also hoping for a Phase 1 regulatory filing for its EVX-B1 in skin and soft tissue infections.
Trading Penny Stocks
Having information about certain penny stocks is beneficial, but only if you know how to use it. Learning how to trade, in the first place, is the best place to start.
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