Investors interested in penny stocks should follow company-specific news to understand its impact on their investments. The information can help them make informed decisions about the penny stocks to buy. Investors need to keep an eye on the stock market today too, which can provide a broader view of industry trends affecting all investments.
The Importance of Company-Specific News for Penny Stocks
Staying informed about company-specific news is crucial when investing in penny stocks. For starters, they are volatile investments. Information about earnings, revenue, and expenses helps investors evaluate the stock’s financial performance. Management changes can also affect a penny stock’s direction and company prospects. Leadership changes, for example, can guide investors’ buying and selling decisions.
It’s also worth noting any news about products and services. A new product release can indicate a penny stock’s potential for growth. Industry trends can play a role too. News about the industry or market can affect stock prices. Partnerships or expansion plans can indicate broader market trends affecting cheap stocks. Following these trends can help investors make better decisions.
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Penny Stocks to Buy: Using a List of Penny Stocks
A list of penny stocks can be a useful starting point for investors interested in low-priced stocks. However, investors should do their research and stay informed about company-specific news. Not all penny stocks on a list are good investments.
Staying Informed about the Stock Market Today
Investors interested in all investments should keep up with the stock market news for the following reasons:
Market Trends: News about the stock market today can provide insights into market trends that affect all investments. News about interest rate changes or economic indicators can offer clues about the direction of the overall market.
Economic Indicators: News about economic indicators, such as GDP and inflation, provides valuable information about the overall economy. These indicators can help investors make informed decisions.
Global Events: News about international events, such as political developments or natural disasters, can impact the stock market. Staying informed about these events can help investors anticipate potential market fluctuations.
With all this in mind, we look at a handful of penny stocks making big moves in the stock market this week following significant milestone updates.
Penny Stocks To Watch
LM Funding America Inc. (LMFA)
LM Funding stock has been in rally mode since the beginning of the New Year. That trend accelerated over the last few weeks as cryptocurrency-related stocks gained steam. Thanks to bullishness and more risk-on sentiment, Bitcoin and Ethereum prices have rebounded strongly. LM Funding focuses on cryptocurrency mining and is a specialty finance company funding non-profit community associations.
LMFA Stock News
While there weren’t any headlines this week, traders are likely watching to see what happens on Tuesday. Why? Earlier this month, LM announced it would participate in the World Digital Mining Summit in Singapore. In a related press release, Bruce M. Rodgers, Chairman and CEO of LM Funding, commented, “This summit unites leading global Web 3.0 and mining companies to explore investment and financial prospects, new trends in Web 3.0, and mining potential worldwide. In addition, it will provide the Company with a great opportunity to develop critical, long-term strategic partnership arrangements with some of the leading participants in the crypto mining industry as well as explore prospects to expand out blockchain contract opportunities.”
With this as the backdrop, it will be interesting to see what results from this conference appearance.
Mobilicom Ltd. (MOB)
Another tech-forward penny stock to watch after news is Mobilicom. The company provides cybersecurity and solutions for drones and robotics. For most of the year, MOB stock has been in a sideways trend and has traded with light daily volumes. Earlier this month, Mobilicom announced that it joined the U.S. Cybersecurity Working Group AUVSI in hopes of helping set industry standards. However, the news seemingly fell short of exciting the stock market. Today that is a much different story.
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MOB Stock News
This week, MOB stock is moving after announcing entry into a strategic partnership with Mistral Inc., which provides solutions to U.S. defense and federal agencies. Mistral plans to integrate mobilicom’s solutions into the U.S. defense industry and the U.S. Department of Defense-related requisitions.
In an associated PR today, Mistral’s Vice President Yoav Banai explained, “The U.S. military has significantly increased spending on drones over the past several years, and we believe this will continue to be the case. We are very pleased to partner with Mobilicom and are eager to begin marketing, sales, and distribution of their solutions to meet the U.S. defense industry needs.”
Sorrento Therapeutics (SRNE)
The stock market may be cooling off today, but that hasn’t made a difference for many cheap stocks. Sorrento Therapeutics continues its rebound after shares slumped this month due to bankruptcy news hitting the PR wires. In an article last week (4 Cheap Robinhood Stocks Under $1 To Watch Trading For Pennies), we discussed this in more detail. Looking ahead, Sorrento received court approval for “First Day” employee wages and cash management motions, which helped boost sentiment.
SRNE Stock News
These motions are in focus as traders look to make sense of everything going on with SRNE stock. Sorrento recently updated a previous “FAQ” related to a dividend of Scilex Holding Company previously held by Sorrento. Scilex is majority-owned by Sorrento and is focused on commercializing non-opioid pain management products to treat acute and chronic pain.
Earlier this month, it acquired rights to an acute treatment for migraine in the US and Canada, Elyxyb. The plan is to market and distribute the treatment to national and regional wholesalers and pharmacies via its distribution network. Regarding the FAQ, the late-Friday update seems to have come into focus at the start of the week.
According to the press release, “The update to the FAQs provides notice regarding the no lien code added on Scilex (NASDAQ: SCLX) common stock that was distributed as a dividend to Sorrento’s stockholders and provides notice to brokerage firms, banks, dealers and similar organizations listed therein that a dividend confirmation had previously been distributed to such firms by Scilex’s transfer agent.”
Asensus Surgical Inc. (ASXC)
The medical device company has been red hot since the beginning of the year. News at the end of 2022 helped promote some bullishness around the company and, in turn, its stock. Asensus initiated a Senhance program at the Kashiwa Kosei General Hospital of Japan. The company explained that its Senhance platform in Japan is intended to “assist in the accurate control of laparoscopic instruments for visualization and endoscopic manipulation of tissue including grasping, cutting, blunt and sharp dissection, approximation, ligation, electrosurgery, suturing, mobilization, and retraction in laparoscopic surgery.”
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Fast-forward, and ASXC has gone from 52-week lows to 52-week highs as it continues announcing new milestones. One of the more notable came on Valentine’s day. The company reported that it entered a multi-year collaboration with Google Cloud. It will integrate its secure cloud data architecture and machine learning to expand the capabilities of the Asensus Surgical Performance-Guided Surgery framework.
ASXC Stock News
That update was coupled with more news before the end of last week with Asensus. The company signed an MOU with KARL STORZ VentureONE, which specializes in medical technologies in the areas of endoscopy and minimally invasive procedures. The two will develop new vision and instrument platforms for use with Asensus and KARL STORZ surgical platforms. The deal also sees KARL STORZ marketing and selling the Asensus Intelligent Surgical Unit as a stand-alone and with the KARL STORZ IMAGE1 S and OR1 systems.
List Of Penny Stocks To Watch
- LM Funding America Inc. (NASDAQ: LMFA)
- Mobilicom Ltd. (NASDAQ: MOB)
- Sorrento Therapeutics (NASDAQ: SRNE)
- Asensus Surgical Inc. (NYSEAMERICAN: ASXC)