3 Hot Penny Stocks That Climbed During Trading Today
With another less than stellar trading day for penny stocks and blue chips, which companies are investors watching right now? Well, it is hard to say as the market is more volatile than it has been in months. But, we can look at what’s causing this heightened volatility and if there are any ways to take advantage.
As of midday, shares of major indexes including the Dow, were down substantially. This includes the Dow being down by as much as 400 points and the S&P 500 down by over 1.7%. As stated earlier, there is quite a lot of volatility due to interest rate hikes, uncertainty surrounding the future, and a large number of unknowns regarding Covid. But, there also seems to be a sizable amount of positivity around what the next few months could hold four the stock market.
With penny stocks, the best course of action is to stay attentive to what is going on in the market. This means having a consistent trading strategy that can adapt to updates in the stock market. With all of this in mind, let’s take a look at three penny stocks that are climbing today.
3 Penny Stocks to Watch That Climbed Today
Vinco Ventures Inc. (NASDAQ: BBIG)
One of the bigger gainers of the day is Vinco Ventures Inc. By midday, shares of BBIG stock had shot up by almost 8% to north of $3.15 per share. If you’re not familiar, Vinco Ventures is a penny stock that we have covered numerous times in the past few months. It has been making major headway recently via its Lomotif app. The company states that this app could be a rival for the popular video-sharing platform, TikTok.
Additionally, BBIG is working on moving into the NFT and crypto space via its spin-off known as Cryptyde. All of this has put BBIG stock in a positive position for growth throughout the last few weeks. In the past month, shares of BBIG stock have shot up by over 18%. This is quite substantial, especially considering the rest of the stock market during that time. And, it’s worth noting that BBIG stock is frequently mentioned online as a trending penny stock.
It is also often discussed on Reddit, and for that reason, we tend to see major moves with BBIG stock in both directions. Now, while it is highly speculative and volatile, there is also a lot that Vinco Ventures has going for it right now. So, whether this makes BBIG stock worth adding to your list of penny stocks to watch is up to you.
Camber Energy Inc. (NYSE: CEI)
Another sizable gainer so far on January 25th is Camber Energy Inc. By midday, shares of BBIG stock had shot up by over 16% to just under $0.70 per share. Similar to Vinco, Camber Energy has been at the center of the trending penny stocks movement over the past few months.
And because of this, we’ve seen shares consistently rise and fall alongside the amount that CEI is mentioned online. This is not to say that Camber Energy doesn’t have a lot to offer on its own, but rather that there is a sizable amount of speculation with the company. Recently, the company received a letter from the NYSE American exchange regarding its non-compliance with the NYSE listing standards.
Now, it has until February 15th to submit paperwork regarding its delayed reporting request. Only a week or so before this, the company announced that it had closed a $100 million equity transaction with an institutional investor. The goal with this is to build up its capital base to continue operating, acquiring businesses and tech, and much more in 2022. With all of this exciting news in mind, do you think CEI stock is a worthwhile addition to your penny stocks watchlist or not?
Amarin Corp. (NASDAQ: AMRN)
Today, shares of AMRN stock managed to shoot up by over 6% to almost $3.20 per share. If you’re not familiar, Amarin is a pharmaceutical company that is working on disease management for cardiovascular issues. The company recently announced its 2021 preliminary revenue alongside its outlook for 2022. In the report, it stated that it expects total net revenue for 2021 to come in at around $580 million. And, it will end the 2021 year with around $490 million in cash and investments.
“With the approval of VAZKEPA by EMA at the end of the first quarter of 2021, our expeditious reimbursement dossier submission in ten countries in Europe and the recognition by key cardiovascular societies of the value that icosapent ethyl brings to patients with residual cardiovascular risk, Amarin has the unique opportunity to lead a new paradigm in cardiovascular disease management worldwide.”
The President and CEO of Amarin, Karim Mikhail
All of this is exciting news and puts Amarin in an interesting position to continue growing. With all of this in mind, do you think that AMRN stock is worth buying right now or not?
Can Penny Stocks Continue to Climb Next Month?
With such a wide variety of penny stocks to choose from, finding the best ones for your watchlist can be challenging. But, because there are so many penny stocks out there, investors need to do all the research they can to consider what different companies have to offer. In addition to this, knowing what type of trader you are, what your tolerance for risk is, and what your investing goals are, will help you thoroughly in the long term.
At the end of the day, trading penny stocks is a very individual task. And, figuring out how to make money with penny stocks will take time. But, with a commitment to learning and educating oneself, profiting with small caps can be entirely possible. With all of that in mind, do you think that penny stocks can continue to climb next month?
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