This will surely be another wild week for investors. Regional bank stocks are surging to start the Monday session as cooler heads prevail after last week’s insanity. But then you’ve got upcoming catalysts like Wednesday’s May CPI inflation data, more earnings, and plenty of jobs data to digest. Whether you’re trading penny stocks or higher-priced blue chip stocks, there’s plenty of information to keep track of.

This takes us to today, May 8th, when there’s a bit of a calm before the storm. These sweeping trends have yet to show their full impact. But while everyone’s waiting patiently, there are more than a few penny stocks to watch.

If this is the area of the stock market you prefer, which would seem to be if you’re reading this article, the first step is making your list. That includes understanding which stocks are moving and why. This article looks at a handful of cheap stocks gaining ground as the overall market chops.

Penny Stocks To Watch

Ginkgo Bioworks (DNA)

penny stocks to buy Ginkgo Bioworks DNA stock chart

Shares of Ginkgo Bioworks have finally seen some upward momentum after months of sliding lower. Last week DNA stock put in new 52-week lows of $1.12 but has since managed to bounce back above $1.30. It’s also trading above its 50-day moving average for the first time since February. This technical level has been a constant point of resistance for the stock, and while DNA shares have seen some sustained action above it, more times than not, over the last year, it has failed to hold. Whether or not this time will be different is to be seen.

What To Watch With DNA Stock

This week is all about DNA stock news to kick things off. The company announced a partnership with Boehringer Ingelheim to develop therapies for hard-to-treat diseases.

Jason Kelly, CEO and co-founder at Ginkgo Bioworks, explained, “We are thrilled to work with Boehringer Ingelheim leveraging our Foundry and Codebase to unlock new possibilities in biopharma innovation.”

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Ginkgo’s database plays host to over three terabases of sequence data and over two billion proprietary protein sequences from a variety of microbes, according to the company. The terms of the partnership state that Ginkgo will receive upfront research fees. It will also be eligible to receive “success-based research and development, regulatory, and commercial” milestone payments for specific projects up to an aggregate total of $406 million. Ginkgo can also qualify for royalties on sales.

Grab Holdings (GRAB)

penny stocks to buy Grab Holdings GRAB stock chart

Shares of Grab Holdings have also seen stronger trading action over the last few days. GRAB stock broke above its 50-day moving average last week and is testing the 200-day at the beginning of this week. The self-proclaimed “Super app company” targets the Southeast Asia market offering delivery, mobility, and digital financial services to its users.

What To Watch With GRAB Stock

Grab took flight on Monday, thanks to more headlines from the company. It announced a target to reach “zero packaging waste” by 2040. Many companies are working toward a more Environmental, Social & Governance (ESG) focus on appealing to certain groups of investors. In an effort to reach carbon neutrality, Grab reduced 48,000 tons of emissions in 2022. It also said that roughly 50% of its deliveries in Singapore are made via zero-emission modes of transport.

“We recognize that food packaging waste is an inherent by-product of our food delivery platform. Change has to happen throughout the value chain, and we are committed to proactively seeking and developing sustainable, inclusive answers. This means both being introspective, while working with other parties in the ecosystem such as regulators, packaging manufacturers, waste management firms, merchant-partners, and consumers,” said Cheryl Goh, Group Head of Marketing and Sustainability, Grab.

Grab now plans to roll out a two-phase approach, which begins with reducing overpackaging, including single-use plastics. This first phase will run through 2030, where Phase 2 will then focus on long-term scalable solutions in waste collection and support reusable packaging.

Trevena Inc. (TRVN)

penny stocks to buy Trevena Inc. TRVN stock chart

Trevena has been a very muted penny stock over the last five months. Volume has been light, and the price has slowly bled out. But this week, the biopharmaceutical company’s shares began surging for the first time in a long time. Its focus on central nervous system disorder treatments and news from its partner in China helped breathe some new life back into the penny stock.

What To Watch With TRVN Stock

Jiangsu Nhwa, Trevena’s partner, received formal approval from the National Medical Products Administration for OLINVYK, indicated for managing acute pain. Specifically, the support was based on two trials conducted in China and leveraged US clinical data. These studies showed safety and tolerability, as well as the pharmacokinetic profile of the treatment was consistent with other trials of OLINVYK. Trevena is due to receive $3 million as a milestone payment. It’s also eligible to receive $15 million with the first commercial sale of OLINVYK in China.

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Invitae (NVTA)

penny stocks to buy Invitae NVTA stock chart

Invitae has continued a multi-day upswing this week as attention focuses on upcoming events for the medical genetics company. Its focus has been on delivering genetic information that gives accurate and actionable insight to individuals.

Earlier this quarter, NVTA stock grabbed attention following comments from Cathie Wood. In a CNBC interview, Wood discussed the company saying, “We do believe the breakthroughs that we are seeing thanks to the convergence of DNA sequencing … RNA protein sequencing and artificial intelligence are already delivering cures for disease, and so we still hold Invitae.”

But comments from talking heads may not be the reason traders are looking at NVTA stock.

What To Watch With NVTA Stock

Earnings season is in full swing, and Invitae is on the watch list. The company reports its latest round of financial results for the first quarter on Tuesday, May 9th. Remember that earnings can be a source of speculation and, in turn, heightened volatility and risk. If NVTA stock is on your list of penny stocks to watch, it could be something to account for especially heading into earnings week.

List Of Penny Stocks


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