Penny stocks are low-priced stocks that trade at less than $5 per share. These stocks can be attractive for anyone looking for high-risk, high-reward opportunities. However, investing in penny stocks can be very risky. They are often thinly traded and may lack the regulatory oversight of more established companies. As a result, it’s important to stay informed about the latest news and trends in the market. That’s important when deciding which companies to watch and which penny stocks to buy.
One of the main reasons why news is important is because it can provide valuable information about a company’s financial health. This includes updates on earnings, new product launches, mergers and acquisitions, and other key financial metrics.
For example, suppose a company announces signing a significant new contract. In that case, this can be a positive signal that the company is experiencing growth and may be a good investment opportunity. Similarly, if a company announces a significant setback, such as a failed clinical trial or a lawsuit, this can be a negative signal to the market.
Penny Stocks & News: Why Does It Matter?
News can also provide insights into broader trends in the market, such as shifts in consumer preferences or changes in government regulations. For example, if a news report suggests that the demand for renewable energy is increasing, this can be a positive signal for penny stocks in the renewable energy sector.
Another reason news is important is it can help investors stay informed about broader economic trends. This includes updates on interest rates, inflation, and other economic indicators that can impact the stock market. For example, if the Federal Reserve announces that it plans to raise interest rates, it can lead to a broader sell-off in the stock market. Investors who stay informed about these developments are better equipped to make informed decisions.
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Finally, news can also provide insights into broader social and political trends. These can also impact the market. For example, if a major political scandal breaks out, this can lead to more general uncertainty in the market. Similarly, if a natural disaster occurs, this can have a significant impact on specific sectors of the market. Investors who stay informed about these developments are better equipped to decide when to buy or sell penny stocks.
Penny Stocks To Watch
Tritium DCFC (DCFC)
Shares of Tritum DCFC stock have been on our watch list early in 2023. The company has been in the news on multiple occasions, and the last time we discussed it, Tritium had just announced securing its most significant order in company history. The order came from BP (NYSE:BP) in its efforts to accelerate the deployment of EV chargers. It also announced that it delivered its first fast chargers to UK charging network provider, evyve.
Tritium gave initial 2022 performance expectations. These included sales anticipated between $95 million and $102 million. It’s also expecting fiscal 2023 sales in excess of $200 million.
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DCFC Stock News
This week Tritium gave several updates, including selling more than 300 EV fast chargers to a Danish fuel retailer, OK. In addition, while other companies are slashing jobs, Tritium announced it would add more than 250 to its workforce in Tennessee. At peak capacity, the facility is expected to produce up to 30,000 units annually.
Jasper Therapeutics Inc. (JSPR)
Biotechnology stocks have been some of the most active and volatile to watch in the stock market this year. Jasper Therapeutics is one of the names to have observed since 2023 began. The company kicked things off with a huge move in January after announcing positive clinical data. The stem cell therapy company reported Phase I/II trial results from its briquilimab in treating sickle cell disease and beta-thalassemia. Since then, the stock has been consolidating in a tight channel between $1.65 and $2.
JSPR Stock News
This week Jasper announced that it presents data supporting its ongoing briquilimab development. CEO Ronald Martell explained, “As we focus the development of briquilimab on treating chronic mast cell diseases and as a conditioning agent for stem cell transplants addressing rare diseases, we believe that the data presented at the Transplantation & Cellular Therapy Meetings of ASTCT and CIBMTR provides the additional mechanistic and clinical proof-of-concept rationale for its mechanism of targeting c-Kit.”
Considering the meeting is being held this week through February 19th, it could be important timing if JSPR stock is on your watch list this week.
Eos Energy Enterprises Inc. (EOSE)
Energy stocks have also been on the radar lately. Eos Energy is a name that steadily climbed higher this week. Earlier this month, the energy storage platform developer provided a business update and gave guidance on its revenue outlook for fiscal 2022 results. Revenue was expected between $17 million and $20 million, with 2023’s outlook between $30 million and $50 million. Eos also reported that it received an order for a 47MWh initial renewables plus storage project with “with one of the largest operators of energy storage in the US.”
EOSE Stock News
This week the market got the official timing on when it will receive the final figures for 2022. The energy company releases its Q4 and full-year on February 28th after the closing bell. If EOSE stock is on your watch list, keep that in mind.
EBET Inc. (EBET)/SharpLink Gaming Ltd. (SBET)
Shares of sports betting stocks haven’t performed as well as some may have hoped over the last year. EBET is an example of that. However, recent market activity says otherwise. Earlier this quarter, EBET stock exploded higher just before the company announced a $6.5 million financing round.
The company operates and develops wagering products for bettors and caters to the millennial and Gen-Z demographics. As discussed earlier, the news doesn’t have to be from a company to make a splash and that may be what is going on with EBET stock at the end of the week.
SharpLink, on the other hand, focuses on sports betting and iGaming with free-to-play and mobile platform offerings. According to the company, SharpLink’s proprietary fantasy sports platform reaches more than two million fantasy sports fans who spend almost $40 million annually on its portfolio of digital gaming experiences and contests.
EBET/SBET Stock News
In this case, industry-related headlines have brought some sympathy sentiment to betting stocks. DraftKings (NASDAQ: DKNG), a market leader in the space, announced better-than-expected Q4 results. It also raised its 2023 guidance, which brought more optimism to the sports betting and wagering industry-related stocks.
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This includes other micro-cap stocks like SharpLink Gaming Ltd, a popular Fintwit stock a few weeks ago. Since this is more sympathy-related and not specific to EBET, it will be interesting to see if there is any follow-through momentum in the market in the near term.
List Of Penny Stocks To Watch
- Tritium DCFC (NASDAQ: DCFC)
- Jasper Therapeutics Inc. (NASDAQ: JSPR)
- Eos Energy Enterprises Inc. (NASDAQ: EOSE)
- EBET Inc. (NASDAQ: EBET)
- SharpLink Gaming Ltd (NASDAQ: SBET)
