Ready To Buy Penny Stocks? Have You Looked At Stock Market News Today?

If you’re looking for penny stocks to buy, you’re likely taking the first step by hunting for potential catalysts. Whether it’s the latest short squeeze or speculation-based move, traders want to be as far ahead of the crowd as possible. This article looks at several penny stocks with news, making moves early in the Friday session. We also take a look at any potential milestones that could be worth noting later this year.

Why Does Stock Market News Matter?

Stock market news is important to investors because it provides them with information about the current state of the market. It also provides details on the progress of the companies they may be interested in investing in. This information can include financial performance, economic indicators, and other relevant data that can affect the value of the stock. Additionally, news about the market and individual stocks can also be a source of speculation about future performance or future milestones.

hot penny stocks news

Penny stocks can be exciting for some investors because they are generally lower in price and can offer the potential for a high return on investment. Since they are inexpensive, even a slight price increase can result in a substantial percentage return for the investor. On top of that, penny stocks may be more volatile than larger, more established ones.

This can also create more opportunities for short-term gains. However, it’s important to note that penny stocks also come with a higher level of risk. They tend to be more speculative and have less financial history and business stability.

These cheap stocks may also be more vulnerable to fraud and manipulation. It doesn’t stop traders from looking for the best penny stocks to buy from session to session. Having said all this, let’s look at a handful of cheap stocks with news that are turning heads in the stock market today.

Penny Stocks To Watch

Bitfarms Ltd (BITF)

We recently discussed Bitfarms on the list of penny stocks with exposure to Bitcoin. In the article “Best Penny Stocks To Buy? 5 Bitcoin Stocks To Watch Now,” we talked about how the company reported several recent and upcoming milestones to keep track of. One of them was regarding comments made by its new CEO, saying, “We have positioned ourselves for strategic growth with minimal cash outlay in 2023.”

This week Bitfarms announced that it is working to change and reduce indebtedness at one of its wholly-owned corporate subsidiaries. Jeff Lucas, Chief Financial Officer of Bitfarms, stated, “During 2022, Bitfarms began taking proactive actions to increase financial flexibility and to reduce indebtedness and capital expenditure obligations. Considering today’s challenging market conditions, we are seeking to modify our Washington state debt facility to achieve terms that are better aligned with the market outlook and our business strategy.”

As the price of Bitcoin continues pushing higher, Bitcoin stocks and blockchain-centric companies have gained sympathy momentum. The addition of news like what came from Bitfarms seems to have compounded that at the end of the week.

Solid Power Inc. (SLDP)

Solid Power stock has been making a move over the last week. Since it reached fresh 52-week lows of $1.95, SLDP managed to climb to highs of over $2.70 during aftermarket trading on January 12th. Solid Power develops rechargeable battery cells for EVs and other mobile power applications.

After last year’s deal with BMW Group, some renewed interest returned to the company. Right before the end of 2022, Solid Power inked the agreement for BMW to essentially duplicate Solid’s production lines at its Germany-based facility. Solid Power will also supply its electrolyte material for prototype cell production. As a result, BMW will give $20 million to Solid Power through June 2024.

This week, Solid Power shares continued trading higher after the company announced receiving a Department of Energy award. Solid is tasked with developing nickel- and cobalt-free batteries. The company expects to receive up to $5.6 million to develop battery cells for improved energy and charging performance.

Shuttle Pharmaceuticals (SHPH)

Shares of Shuttle Pharmaceuticals did something overnight that is generally atypical of companies announcing financing deals. SHPH stock is trading noticeably higher in the stock market today. Right after the market closed on Thursday, the company announced the pricing of a $4.3 million convertible note offering.

According to the accompanying press release details, Shuttle will “receive initial gross proceeds of $4.0 million. In addition, the four-year warrant to purchase up to approximately 1.018 million shares of Shuttle Pharmaceuticals’ common stock at an exercise price of $2.35 per share, upon exercise, would result in additional proceeds of approximately $2.4 million if the warrants are exercised by the investor.”

The news comes shortly after Shuttle announced the publication of a manuscript discussing immune responses in patients after radiation therapy for cancer. “The report provides insight into the immune response taking place in patients after radiation therapy for cancer. These data inform potential development of biomarkers of radiation response and therapeutic strategies for sequencing radiation and immune therapy modalities for cancer treatment,” explained Anatoly Dritschilo, M.D., CEO of Shuttle Pharmaceuticals.

Jasper Therapeutics (JSPR)

The biotech company Jasper Therapeutics saw its shares pop on Friday as it continues making headlines this month. Jasper jump-started the year with big news on positive clinical data. The company announced data from the first three participants in an investigator-initiated Phase 1/2 clinical trial evaluating the addition of briquilimab to an existing bone marrow transplantation regimen in patients with sickle cell disease. Jasper also announced EU Orphan Drug Designation for treating patients receiving a stem cell transplant.

“The EMA’s decision to grant orphan drug designation to briquilimab highlights the clear need for non-genotoxic, targeted conditioning for patients receiving hematopoietic stem cell transplant,” said Ronald Martell, President and Chief Executive Officer of Jasper Therapeutics.

That news cycle continues highlighting Jasper this week. The company announced Friday that it would host upcoming positive trial data presentations soon. These would focus on the safety and efficacy of briquilimab.

Three abstracts covering data related to the Phase 1 study of briquilimab in combination with fludarabine and low-dose irradiation (Flu/TBI) conditioning with acute myeloid leukemia or MDS undergoing allogeneic hematopoietic cell transplant. Since the presentations come next month, speculative momentum has already built up.

List Of Penny Stocks To Watch With News

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