Whether you’re trading penny stocks or higher-priced company shares, everyone wants to gain an edge. In the stock market today, there are plenty of catalysts to consider. Some are more apparent than others. Today we look at headlines and stock market news, one of the most frequently used by retail traders.
Some might call it the secret sauce in the stock market recipe. It’s what keeps things interesting and keeps us on our toes. It’s like their GPS, guiding them through the wild jungle of the market. Whether it’s a company smashing its earnings report, a new CEO taking the reins, a fresh product hitting the shelves, or some regulatory decision shaking things up, every bit of news matters.
For traders, the news is their bread and butter. Especially when it comes to penny stocks, where things can go from zero to one hundred real quick. A positive news release can send a penny stock exploding higher, giving traders a chance to cash in. On the flip side, bad news can cause a stock to nosedive. But even that can be a chance to make a buck if you’re into short-selling.
So, you might say that news is pretty important in the stock market. It’s the heartbeat, the rhythm, the thing that keeps traders informed. In this article, we will unravel the stories of five penny stocks that have been in the news recently. We’ll dig into their announcements, discuss their meaning, and discuss how they could impact investors and traders.
So, whether you’re a Wall Street master or a newbie just dipping your toes in the market, you’ll be equipped with an understanding of what’s happening in the stock market today. Then you can decide if any companies are worth adding to your list of penny stocks to watch.
Penny Stocks To Watch
Tenax Therapeutics (TENX)
Pharmaceutical company Tenax Therapeutics Has pulled an about-face in the stock market today. The move comes after its latest news release regarding a significant patent milestone.
TENX Stock News
What’s moving TENX stock today? The company announced that the US Patent & Trademark Office granted a Notice of Allowance for its application covering the use of Tenax’s oral levosimendan (TNX-103) in pulmonary hypertension. The patent is titled, “LEVOSIMENDAN FOR TREATING PULMONARY HYPERTENSION WITH HEART FAILURE WITH PRESERVED EJECTION FRACTION (PH-HFpEF).”
“With this Notice of Allowance, Tenax is now exceptionally well-positioned to realize the significant commercial potential of oral levosimendan, based on this new IP protection that will last until at least the end of 2040. Advancing this daily oral formulation into Phase 3 studies for the treatment of PH-HFpEF, a heart condition affecting millions of people in the United States with no FDA-approved treatments, is our next step,” said Chris Giordano, Chief Executive Officer of Tenax Therapeutics.
Aridis Pharmaceutical Inc. (ARDS)
Another one of the biotech penny stocks to watch today after news is Aridis Pharmaceuticals. The company develops candidates for treating various infections.
ARDS Stock News
Why is ARDS stock up today? The company announced a favorable response from the FDA regarding its proposed Phase 3 study of AR-301 in treating pneumonia that resulted from Gram-positive bacteria Staphylococcus aureus (S. aureus) in mechanically ventilated hospitalized patients.
“This provides a clear clinical and regulatory pathway to bring AR-301 to patients with high unmet medical needs and enhances the opportunity for potential pharma partners,” explained CEO Vu Truong. The study’s design is required to support the submission of a Biologics License Application as well.
Kopin Corporation (KOPN)
Microdisplay and optical solution company, Kopin Corp. has been on the list of penny stocks to watch for over a month. A mix of news and insider trading has helped promote optimism in the market.
KOPN Stock News
There have been plenty of recent catalysts in the market, including company directors purchasing tens of thousands of shares during the second half of the month. In addition, last week, Kopin extended the deposition capabilities of its OLED device to support US Department of Defense initiatives.
Bill Maffucci, Kopin’s Senior Vice President of Business Development and Strategy. “These new partnership agreements extend our deposition supply base into several US Department of Defense and NATO-friendly locations, supporting duplicity and continuity of our supply chain while at the same time bring more of the OLED packaging and testing processes in-house at Kopin. In addition, Kopin has gained access through these agreements to a broader set of OLED displays and other advanced technologies, to further enhance our product offerings.”
Looking ahead, Kopin announced this week that it would present at the upcoming Stifel Cross Sector Insight Investor Conference. The event takes place June 6-7.
Trust Stamp Inc. (IDAI)
We discussed T Stamp in yesterday’s article Penny Stocks & The Stock Market Today: Top Trends & Stocks To Watch. The identity technology company provides AI-powered trust and ID services across several sectors. Last week, the company announced a patent allowance by the USPTO titled “Systems and processes for lossy biometric representation,” which expanded Trust Stamps’ current IP portfolio.
IDAI Stock News
Why is IDAI stock up again this week? Trust Stamp announced a Notice of Allowance for an additional patent by the United States Patent and Trademark Office. This Notice of Allowance follows a previous patent allowance from earlier in the month.
The patent is titled “Systems and Methods for Identity Verification via Third-Party Account.” The company uses a “proprietary process to establish control of one or more third-party accounts as a primary or secondary identity authentication factor and is intended to complement Trust Stamp’s AI-generated Irreversibly Transformed Identity Token (IT2) technology.”
Trevena Inc. (TRVN)
Biopharma company Trevena has also made waves in the stock market this week. The company develops medicines to address central nervous system disorders and has grabbed investor interest for the last few weeks. Initially, it stemmed from gaining the approval of OLINVYK in China. This is the company’s treatment for acute pain.
TRVN Stock News
Why is TRVN stock up today? Trevena was also set to receive a $3 million milestone payment from its partner in China as part of the deal. “We look forward to continuing to work closely to support Nhwa in their commercial efforts. They have already begun commercial efforts in China, and we are excited to see OLINVYK made available in such an important market,” said Carrie Bourdow, President and CEO of Trevena, Inc.