3 Penny Stocks That Exploded During Today’s Trading
Finding penny stocks that exploded or could explode is one of the best ways to make a potential profit in the stock market. However, to find penny stocks before they explode is where the large challenge comes in. As a result of the sheer amount of movement in the stock market right now, there is a lot to keep track of.
And if you’ve invested in penny stocks or blue chips in the past month or so, you’re likely familiar with the Omicron variant and its sizable effect on the stock market. While we are seeing the famed Santa Claus rally in full effect right now, many traders are wondering how long it can continue and if 2022 will be a bullish year for trading. Aside from this, we have to consider that we don’t fully know what the trajectory of the pandemic will be. While many investors believe that 2022 could be a positive year for the market, it may be too soon to assert this.
When it comes to finding penny stocks that exploded or could explode, knowing what is going on in the stock market and how it may impact the stocks on your watchlist is crucial. In addition, understanding how these factors will impact the larger market is important to making a profit. With all of this in mind, let’s take a look at three penny stocks that exploded today and why.
3 Penny Stocks to Watch That Are Climbing Right Now
Farmmi Inc. (NASDAQ: FAMI)
With a 5% or so gain by midday on December 28th, FAMI stock is once again in focus. If you’re not familiar, Farmmi is a penny stock that we’ve covered numerous times in the past few months. And as a trending penny stock, FAMI stock is also often in the news. While it has lost around 48% of its value in the past six-month period, shares have begun to see a small bullish turnaround recently.
For some context, Farmmi is a provider of agricultural products based in China. It exports a large range of edible fungi to many countries around the world. This includes Mu Er mushrooms, Shiitake, and more. While many gains can occur without news, Farmmi made an exciting announcement during premarket trading on December 28th. It stated that it has won a repeat product order for dried mushroom slices from a customer in Southampton, England.
“This is another important win for us. It continues the meaningful sales growth trajectory we have been building all year as we leverage our increased investments in sales and marketing to build our global brand, and it also benefited from our consistent product availability due to our strong supply chain relationships.”
The CEO of Farmmi, Ms. Yefang Zhang
This is a big deal for the company and shows how committed it is to continuing to grow. With this in mind, will FAMI be on your penny stocks watchlist?
ADDvantage Technologies Group Inc. (NASDAQ: AEY)
One of the bigger gainers of the day so far is AEY stock, pushing up by over 15% at midday. The main reason for this gain comes as the company reported its Q4 fiscal 2021 financial results. Before we get into it, it’s worth taking a look at what ADDvantage does. AEY is a provider of communications infrastructure. It has both a Wireless Infrastructure Services segment and a Telecom segment. These offer equipment modification, installation of communication towers, and much more. Currently, its subsidiaries include Fulton Technologies, Nave Communications and Triton Datacom. Today, the company announced very positive results for the fourth quarter of the year.
“As planned, 5G services activity is surging translating to revenue, as our Wireless segment grew 69% sequentially and 47% year-over-year in the fourth quarter, reaching $7.0 million in growth is broad-based, representing contracts from several large carriers in various regions, reinforcing our confidence that the 5G buildout is now underway in earnest and ADDvantage Technologies is strategically well-positioned to benefit from this secular, multi-year spending cycle.”
The CEO of ADDvantage, Joe Hart
In the fourth quarter, the company brought in sales of $19.7 million, which is a 61% increase over the same period of the previous year. Looking at these results, we see solid growth for the company. This could be due to the overall communications market during that time as well as AEY’s business. Considering this, is AEY stock worth adding to your list of penny stocks to buy?
Gamida Cell Ltd. (NASDAQ: GMDA)
Up by around 10% today are shares of GMDA stock. Despite a 66% YTD drop in value, it looks like we are witnessing a small bullish turnaround for the company right now. While no news came out today for the company, we can look at some recent announcements to try and gauge why shares shot up. A few weeks ago, the company presented data for its GDA-201 and resource utilization analysis for Omidubicel at the 63rd ASH Annual Meeting.
“We are excited to share this compelling two-year data from our investigator-led study of GDA-201 which demonstrate an extended duration of response in patients with NHL. The durable response in this patient group provides strong support as we work to progress GDA-201 through the development process for patients in need.”
The CEO of Gamida Cell, Julian Adams
Right now, there is a major emphasis on biotech penny stocks. And, this could be one of the main drivers of the price of GMDA stock right now. Whether this makes GMDA stock worth buying or not however, is up to you.
Which Penny Stocks Are on Your Watchlist Right Now?
If you’re making a list of the best penny stocks to buy, there are hundreds of options to choose from. But, with the Omicron variant still wreaking havoc on world markets, it is more important than ever to understand how stocks may be impacted.
In addition, having a thorough and well-thought-out trading strategy is crucial to making money with penny stocks. And, knowing what type of trader you are and how to take advantage, will be a major benefit to your portfolio. With all of that in mind, which penny stocks are on your watchlist right now?
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