Buying Penny Stocks Today? Here’s What You Need to Know
If you’re looking for penny stocks to buy, there are plenty of options to choose from. While early morning gainers like Kaixin Auto Holdings (NASDAQ: KXIN) and Bitnile Holdings Inc. (NYSE: NILE) are making big moves, it is always important to understand your options. Right now, there is a lot that is at play with both penny stocks and blue chips. For that reason, let’s take a look at what you need to know about trading penny stocks today.
What You Need to Know About Trading Penny Stocks Today
Right now, we’re seeing stock market futures point to a higher open in the market. Following a highly volatile day of trading yesterday with Fed Chair Jerome Powell’s remarks in mind, investors are excited about the potential of bullish movement.
Right now, the main concerns are inflation and the ongoing conflict in Ukraine. Keeping these two factors in mind will help to give you the best chance of making money with penny stocks. Considering this, let’s take a look at three that are climbing during trading right now.
3 Penny Stocks That Are Climbing During Trading Right Now
- Draganfly Inc. (NASDAQ: DPRO)
- Troika Media Group Inc. (NASDAQ: TRKA)
- Palisade Bio Inc. (NASDAQ: PALI)
Draganfly Inc. (NASDAQ: DPRO)
One of the largest gainers of the day so far is DPRO stock. By early morning, shares of DPRO stock had shot up by over 89% to more than $1.67 per share. It’s worth noting that we have covered DPRO stock plenty of times in the past few weeks due to its popularity. The biggest news from the company came on during premarket today. It announced that it would be providing lifesaving drones for revived soldiers in Ukraine for immediate deployment.
This will be done via its channel partner, Coldchain Delivery Systems, and the initial order will consist of around 200 units. These search and rescue drones could be imperative in finding and aiding soldiers on the battlefield in Ukraine. Considering this, will DPRO be on your penny stocks watchlist?
Another sizable early gainer is TRKA stock. During premarket, shares of TRKA shot up by over 26%. This is a substantial gain and follows recent bullish sentiment seen with the company. The reason for today’s gain comes as the company announced the completion of an acquisition of Converge Direct LLC.
It states that this should add roughly $300 million in revenue with more than $21 million in net income. Now, it will offer end-to-end branding, marketing, digital advertising, and more to its large client base. This is great news for the company and will continue to be a big deal moving forward. With that considered, does TRKA have a spot on your list of penny stocks to watch?
Palisade Bio Inc. (NASDAQ: PALI)
Last on the list of major gainers of the day is PALI stock. By early morning trading, PALI had shot up by over 72% to more than $1.40 per share. This is a substantial climb and reflects big news announced by the company during premarket.
The big news for Palisade came as the company received a letter from the FDA stating that the “Study May Proceed”. This concerns its LB1148 program which is being studied for its use in returning bowel function to adult patients going through surgery. This is big news for both investors and the company alike and should be considered. Whether this makes PALI stock with buying or not is up to you.
Which Penny Stocks Are You Watching Today?
Finding the best penny stocks to buy can be challenging. However, because there are so many penny stocks to choose from, it can be much easier than previously imagined. With so much going on in the market, investors need to have a thorough understanding of how to take advantage of the current factors at play. With this in mind, which penny stocks are you watching today?