4 Penny Stocks To Watch Premarket In The Stock Market Today
Penny stocks and risk go hand-in-hand. But with that higher risk comes the potential for higher rewards as well. Two of the biggest things to factor in are research and time. Before jumping into any trade, understanding why certain stocks are moving and how long that move can last is worth knowing. Today we’ll look at a handful of penny stocks that anyone can purchase for less than $5 right now.
Stock Market Today: Premarket Updates For January 26th
First, let’s look at a few of the more significant trends in the stock market today. The first and most prominent: it’s Fed Day. Federal Reserve Chairman Jerome Powell caps off a 2-day Fed meeting with an announcement as the cheery on top. The topic of interest right now is interest rate uncertainty. Will the Fed raise rates three times or more this year, and how high will those increases take us by year-end?
Also looming over the market is the outcome of potential quantitative tightening. Paired with rate increases, that could mean higher costs and potentially having to finance debt issued by the Treasury ourselves instead of the Fed intervention we’ve come to know and love over the last few years.
These concerns have led to a rocky start to the year, but there have been ways to make money in the stock market. Some call 2022 the year of the active trader, and penny stocks have come into a much brighter spotlight. Let’s see if any of these names continue bucking the trend on Fed day.
Penny Stocks To Buy Under $5: Stran & Co Inc. (NASDAQ:STRN)
Similar to the stock market, in general, shares of Stran & Co pulled back at the start of the year. However, news this week has reignited interest in the penny stock, with shares jumping early on Wednesday.
What To Watch With STRN Stock
The marketing solutions company released news on a new acquisition of GAP Promotions. GAP is another marketing solutions provider for beverage and consumer packaged goods companies. Furthermore, Stran also highlighted that GAP has been profitable since 2006 and recorded over $7 million in sales in 2020.
“Their client portfolio consists of top-tier beverage and consumer packaged goods companies, which we believe will be highly complementary to our existing business. We are excited to build upon their success and believe that through our combined offerings we can provide an even more compelling and comprehensive service offering for our customers.”
Andy Shape, President and CEO of Stran
In light of what we discussed in the intro, timing on this deal could be something to keep in mind. Stan expects the deal to close this quarter. It’s also worth noting that Andy shape recently reported a 17.4% stake in Stan about one week ago.
Ondas Holdings Inc. (NASDAQ:ONDS)
Like Stran, Ondas faced a similar downtrend at the start of the year. However, the last few sessions have seen a turnaround in the tech penny stock. Ondas provides wireless and automated data solutions and drone services to its clients. In this case, news from one of its subsidiaries paired with a bullish energy industry has sparked some interest in ONDS stock; let me explain.
What To Watch With ONDS Stock
This week, its American Robotics subsidiary received a purchase order from Chevron for its Scout Systems. These are fully autonomous, FAA-approved drone technology that Chevron will use in maintaining infrastructure. The drones will be utilized to monitor oil leaks, methane emissions, and even damaged equipment.
This is also Ondas’ second Fortune 100 client win in the oil and gas industry. Reese Mozer, CEO, and co-founder of American Robotics, also commented, “Prior to our game-changing FAA approvals, asset managers that used drones to monitor their oil and gas fields needed to employ pilots and visual observers to fly the systems manually, and then manually convert the data into actionable insights. With Scout System, we are providing the oil and gas industry with a dramatically more efficient and effective way to manage, monitor, and inspect their assets.”
Furthermore, with a push for curbing greenhouse gases and moving toward efficient ESG operations, this platform may add an essential layer to frequent inspection and assurance that clients meet these requirements.
Penny Stocks To Buy Under $5: Blue Star Foods Corp. (NASDAQ:BSFC)
The year has been quiet for Blue Star Foods up until recently. However, since uplisting to the NASDAQ, BSFC stock steadily gained more attention. With sustainable investing becoming a hot topic and ESG (environmental, social, and governance) acting as a lynchpin to “sustainable portfolios,” Blue Star aims to capitalize on the trend. Specifically, it’s taking up ESG initiatives in seafood processing, packaging, and sales.
What To Watch With BSFC Stock
Late last week, BSFC stock surged following speculation on the timing of a recently announced acquisition. Last month, Blue Star reported that it plans to buy Gault Seafood in a cash and stock transaction and fold in its Recirculatory Aquaculture System to Blue Star’s operational strategy. With the transaction expected to close this quarter, the market has noticed.
It’s also worth mentioning that BSFC is considered a “low float” penny stock with fewer than 25 million shares outstanding. That may have also added to the stock’s recent bout of market volatility.
This week, Blue Star received a $5 million investment from The Lind Partners to support strategic growth plans. “This additional working capital allows us to produce more product, aiming to fulfill our distributor partner orders in North America, where we are seeing a pretty significant jump in demand,” said John Keeler, Chairman, and CEO of Blue Star.
Vaccinex Inc. (NASDAQ:VCNX)
Shares of Vaccinex jumped this week thanks to FDA-related news. The biotech company has been working on advancing its pipeline treatments. In particular, Vaccinex’s pepinemab is being studied in patients with recurrent or metastatic head and neck squamous cell carcinoma.
What To Watch With VCNX Stock
This week, Vaccinex announced two complete responses from the FDA in the first three patients enrolled in a Phase 1b/2 study combined with Merck’s Ketruda. “The KEYNOTE-B84 study is accruing patients in the now open expansion phase, which will enroll up to an additional 62 patients in approximately equal groups of patients with CPS 20 and CPS ≥20 across 18 U.S. trial sites. We look forward to sharing further results at a medical conference as the study progresses, with interim analysis around the midpoint of enrollment (2H 2022),” explained Maurice Zauderer, Ph.D., President and Chief Executive Officer of Vaccinex.
Penny Stocks To Watch
With upcoming potential catalysts and new updates, these are just a few of the top penny stocks to watch right now. Keeping in mind research and timing, will any be on your watch list this month?
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