Are you making a list of penny stocks to watch before next week? Today we’re looking at four tech and biotech stocks turning heads in the stock market today. While there are plenty of hot trends to follow right now, things like the metaverse, DeFi, and, yes, even biotechnology are in the spotlight.
But why would anyone want to buy penny stocks in the first place? These aren’t for the timid. However, if you take time to learn how to trade, understand how to handle volatile stocks, and take emotions out of your trading style, then there’s plenty of money to be made with cheap stocks. It doesn’t matter if you’re using mobile apps like Webull or desktop trade stations to buy and sell.
A clear strategy in place can be a tremendous asset when it comes to taking home big profits. Will that be the case for this round of penny stocks to watch? I’ll leave that up to you. For now, here’s what’s happening in the stock market today for a few of these hot names.
Penny Stocks to Buy [or avoid]
Dunxin Financial Holdings (NYSE:DXF)
One of the hot niches in the market right now has to do with metaverse stocks. While this type of platform isn’t new, it has become a hot topic recently. That’s thanks to Facebook’s (NASDAQ:FB) news that it would be changing the name of its parent company to Meta and focus on metaverse application technology. Since then, many tech companies have adjusted or expanded their models to include some play on the metaverse.
Dunxin Financial is the latest to do just that, and the market seems to have started noticing. Earlier this week, the company announced a business transition plan. If you guessed it involves a move into the metaverse industry, you’re correct. This seems to be a very early development for the company, as its corresponding press release was a bit vague regarding specifics.
However, Duxin expressed its devotion to becoming a “digital culture and entertainment technology platform” and is actively researching opportunities. As this story develops, DXF could be one of the metaverse penny stocks to watch.
Greenpro Capital (NASDAQ:GRNQ)
In line with this digital finance marketplace, Greenpro Capital has turned heads at the end of the week. The company has recently placed a focus on cryptocurrency mining in Malaysia. Greenpro signed a partnership agreement earlier this year for developing a digital asset platform in BIMP-EAGA.
This week the company put out a Tweet that seems to have built some momentum during the Friday session. Specifically, its Cryptosx Digital Asset Exchange proclaimed, “Finally, the wait is over,” and that, “The long-anticipated Public Sale of the #MillenniumSapphire launches EXCLUSIVELY on our trading platform!”
This security token gives ownership rights to valuable gemstones. Thanks to this tweet, GRNQ stock has caught some momentum heading into next week.
Glycomimetics Inc. (NASDAQ:GLYC)
On the opposite end of “tech,” Glycomimetics has turned some heads. Following an earnings update at the beginning of November, GLYC stock has bounced back from recent lows. In particular, the biotech company discussed the subsequent phases of progress now that its CEO transition process has come to completion.
Its treatment platform continues reaching milestones, and there are still things to look for before the end of 2021. In particular, its uproleselan Phase 3 trial in relapsed/refractory acute myeloid leukemia has been rapidly enrolling patients during the third quarter. There’s also an ongoing National Cancer Institute-sponsored Phase 2/3 trial evaluating its use in adult AML patients not fit for chemo.
Efficacy and safety data from a Phase 1/2 trial of uproleselan published in September highlighted the treatment’s depth of response and ability to enhance treatment with the addition of the therapy.
In addition to uproleselan, Glycomimetics’ GMI-1359 continues to advance towards filing an Investigational New Drug Application anticipated for the first half of next year. This is the company’s candidate for sickle cell patients and a possible life-cycle extension opportunity with uproleselan. Next month Glycomimetics presents data on GMI-1359 at the American Society of Hematology (ASH) Annual Meeting and Exposition.
Thanks to these developments, analysts have begun taking notice. Jefferies is the most recent to weigh on on GLYC stock. The firm upgraded the stock from Hold to Buy and boosted its $3 to $4 this month.
Shares of Fluidigm came alive during Friday’s session on November 12. This continues a well-received 3-day move in the penny stock. The warm welcome comes after a prolonged period of selling pressure which took FLDM stock from highs of $7.51 in July to lows of $4.47 this month.
If you’re unfamiliar with the company, Fluidigm focuses on health analytics. Its CyTOF and microfluidics technologies provide insights into health and disease and identify different biomarkers to aid in developing effective therapies. Academic institutions, government organizations, and pharma companies are among those relying on Fluidigms technology platforms.
This week the company announced the launch of its Biomark X, which integrates the companies Juno and Biomark HD instruments into one platform. According to the company, this reduces hands-on time and speeds up results with more data reported per run. In a recent YouTube video, Fluidigm demonstrated this innovation and gave in-depth details on its application potential. With this has come a spike in action heading into the weekend.
Penny Stocks To Watch Right Now
These are just a handful of penny stocks to watch right now. Recent developments seem to have become catalysts for more significant moves in the stock market today. The biggest thing to think about is how this will (or won’t) reflect heading into next week. Will the momentum continue, or will these penny stocks simply be a thing of the past?