Are you looking for penny stocks to buy right now? You’re not alone and there are plenty of ways to find the best penny stocks to buy. But first, you need to know what that means for you. The “best” is subjective to your personal stance on trading, in general. Are you a swing trader? Are you a day trader? Do you prefer scalping stocks or possibly just looking for your next long-term investment? There’s a lot to consider when deciding on the best penny stocks to buy.
Assuming you’ve gotten that far and understand what you’re looking for, it’s time to make a watch list. Catalysts are a good place to begin when doing so, and news can play an important role. headlines are one of the more apparent pieces of information made available to the market. Whether it’s news of a major milestone or an update regarding current plans, what companies announce is gauged heavily by the investing public.
In times of good news, headlines can act as extremely bullish catalysts, even sparking short squeezes in otherwise beaten-down names. However, as we know, it’s not all sunshine and rainbows. Companies also release negative updates as well. In their efforts to communicate with investors and publicly disclose events, negative headlines can prompt aggressive sell-offs in specific stocks.
In this article, we look at several of the most active penny stocks today. They have released new updates, and the market is reacting. Whether they are a good list of penny stocks to buy is up to you. The first place to start is to see what the catalysts are and how they pertain to the future of the companies.
Penny Stocks to Watch
- Ginkgo Bioworks (NYSE: DNA)
- Nano Dimension Ltd. (NASDAQ: NNDM)
- Knightscope Inc. (NASDAQ: KSCP)
Ginkgo Bioworks (DNA)
Shares of Ginkgo Bioworks maintained their recent uptrend on Tuesday as shares approached the $2 level for the second time in nearly a month. The company’s recent headlines focus on Ginkgo’s growth via new collaboration initiatives. A few weeks back, it announced its collaboration with Voodoo Scientific to push the production of “Smooth” spirits forward.
Voodoo will leverage Ginkgo’s enzymatic solution to offer distillers to produce premium spirit products. Further to this, the company also announced another milestone with Ambrosia Bio. The two companies are working on a way for Ambrosia to leverage Ginkgo’s enzyme services to develop scalable production of Ambrosia’s proprietary enzymes for converting feedstock to allulose. This is an FDA-approved rare sugar found in things like figs and raisins, to be used as a sweetener.
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DNA Stock News
This week Ginkgo announced advancing its collaboration with Novo Nordisk on expression systems for pharmaceutical products. Jason Kelly, CEO and co-founder, Ginkgo Bioworks explained, “The next phase of this project will build on our existing microbial design, engineering, and phenotyping expertise while expanding Ginkgo’s capabilities in genome-scale design and engineering. We believe this work will enable us to support even more pharmaceutical products, helping to achieve better outcomes for patients.”
Nano Dimension Ltd. (NNDM)
Nano Dimension is an additively manufactured electronics company that also produces multi-dimensional polymer, metal, and ceramic 3D printers. It has come into focus for several reasons. The most prevalent has been a pending acquisition. The company sent an unsolicited non-binding indication of acquisition to Stratasys Ltd. (NASDAQ: SSYS).
According to reports, Nano offered to purchase the 3D printing company for $19.55 per share in cash. This is an increase from its initial proposal to buy Stratasys for $18 per share earlier this month. However, since making headlines, Nano Dimension has pushed even harder to come to a firm agreement. Over the last several weeks it boosted its offer.
NNDM Stock News
This week, the trend continued and traders seem to have remained optimistic regarding the NNDM stock prospects. Nano increased its special offer price to $24 per share in cash. The expiration date for the offer is still July 24th, and so far, no further updates beyond confirming the offer have come from Stratasys. Furthermore, Stratasys recently rejected a separate takeover offer from 3D Systems in lieu of accepting a $1.8 billion merger deal with Desktop Metal.
With this proposal out in the open, the market awaits a formal decision from all parties involved.
Knightscope Inc. (KSCP)
Shares of Knightscope continued trading higher in the stock market today. The company is known for its autonomous security robots and emergency communication systems. For the better part of the last few weeks, KSCP stock has traded higher. Initially, the catalyst for the bullish move came after Knightscope highlighted a conversation about its 2023 projections on a popular stock market podcast.
The company also announced payback in full of $6 million of convertible notes. The sentiment had been much more upbeat leading up to July and the latest headlines from the company stoked that trend this week.
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KSCP Stock News
Georgia State University selected Knightscope Authorized Partner Transportation Solutions & Lighting, Inc., – Safety and Security Division – National Safety Systems to supply, install, and support more than 50 Knightscope K1 Blue Light Emergency Towers and Call Boxes throughout their downtown Atlanta campus.
