3 Penny Stocks That Exploded During Today’s Trading
If you’re looking for penny stocks that exploded, there are always options to choose from. But, it’s crucial to understand why the stock exploded and how to take advantage. Anyone can find penny stocks to buy after a monumental price jump, however, understanding how to find those same stocks before they jump is where the real money comes in.
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With penny stocks, speculation is always the main driver of price movement. And as a result, the best way to make money with penny stocks is to have a consistent understanding of what factors are impacting both the stock market at large and the penny stocks on your watchlist. Considering this, let’s take a look at three penny stocks to watch that exploded today.
3 Penny Stocks to Watch That Exploded Today
New Oriental Education & Technology Group Inc. (NYSE: EDU)
New Oriental Education & Technology Group Inc. is an education company that offers K-12 AST, test preparation, and other courses. Students taking language and entrance tests used by educational institutions in the United States, the People’s Republic of China, and Commonwealth countries can utilize the services offered by EDU to have an easier time studying and potentially passing. It also offers language classes in English as well as other languages like German, Japanese, French, Korean, Italian, and Spanish.
On November 14th, New Oriental delivered new business developments. New Oriental has said that by the end of 2021, it plans to stop all tutoring services connected to K-9 AST at all of its learning facilities due to new Chinese legislation and regulations. The firm estimates that this will have a significant impact on revenues for the fiscal year ending May 31, 2022.
Why EDU Stock Jumped Today
Because of new rules, most Chinese education firms are no longer able to provide all of the services they once did. While they can still provide some services, a significant portion has been deleted. As a result, New Oriental’s sales, as well as those of other similar companies, will be impacted. But, looking at today’s jump and EDU’s recent upticks, it seems as though investors are betting on the future of the company at its current low price.
While no news came out explaining why shares would jump, its bottom dollar value could help to provide a reason. Despite the legislation’s impact, bullish interest in EDU stock has increased in recent trading sessions. Noting this recent info, will EDU stock be on your watchlist?
Biofrontera Inc. (NASDAQ: BFRI)
Biofrontera Inc. is a biotech penny stock established in the United States that develops and markets pharmaceutical solutions for the treatment of dermatological diseases. Additionally, Biofrontera commercializes the FDA-approved flagship medicine Ameluz in the United States, with a focus on the fields of photodynamic treatment (PDT) and topical antibiotics.
Ameluz-PDT is indicated for the treatment of actinic keratoses (AK), one of the most frequent precancerous skin disorders. On December 10th, shares of BFRI stock added over 15% in value by midday. This is a sizable jump and brings BFRI stocks gains to over 34% in the past five days.
Why BFRI Stock Jumped Today
On December 6th, the company enrolled its first subject in the Phase 1 safety study evaluating photodynamic therapy with three tubes of Ameluz. This study is to evaluate the safety and tolerability of photodynamic therapy (PDT) for the treatment of actinic keratosis (AK) using three tubes of Ameluz® together with the company’s BF-RhodoLED XL lamp. This open-label trial will enroll 100 participants with mild-to-severe AK on the face and scalp across eight sites.
“Today’s news marks an important step in our clinical program for optimizing the positioning of our flagship product Ameluz. The use of three tubes of Ameluz enables treatment of larger surface areas such as for mild-to-severe AK on the face and scalp. Success with this study could significantly improve the competitiveness of Ameluz in the U.S. and advance Biofrontera’s goal of gaining market share for PDT as standard of care for treatment of AK.”
The CEO of Biofrontera, Erica Monaco
In addition to this, analyst Jonathan Aschoff of Roth Capital added a ‘buy rating’ and a $20 price target for BFRI, which is helping to show bullish interest in the company. With its recent news in mind, will BFRI make your penny stock watchlist?
American Virtual Cloud Technologies Inc. (NASDAQ: AVCT)
One of the biggest gainers of the day so far is AVCT stock, shooting up by over 49% at midday. American Virtual Cloud Technologies, Inc. is a provider of IT solutions that includes unified cloud communications, managed services, cybersecurity, and increased connectivity. The company’s mission is to provide exceptional customer service while providing worldwide technology solutions.
Why AVCT Stock Jumped Today
On December 8th, the company announced significant projected revenue growth of Kandy, which is its cloud communications platform. AVCtechnologies has previously stated that it would focus on acquisitions and organic growth in its cloud technology business. Now it has projected revenues for its Kandy Business to grow from $14.3 million last year to $18.8 million this year. This significant project growth is driven by a 505% year-over-year subscriber growth from January 2019 to today.
“AVCtechnologies is positioned to gain market share as a premier white-label cloud communications provider, checking the CPaaS, CCaaS & UCaaS boxes, while also capitalizing on direct to enterprise capabilities”.
The Chief Executive Officer of AVCtechnologies, Darrell J. Mays
On December 9th, AVCT stock increased by an impressive 82.5% at the market close. Today, the company announced an expanded partnership with Braidio that could help to further promote its products. This is likely the reason behind today’s sizable uptick. This recent momentum has been great for those who invest in AVCT stock, although it’s worth noting that it is quite volatile. With this in mind, will AVCT be on your list of penny stocks to watch going forward?
Which Penny Stocks Are on Your Watchlist Right Now?
Finding the best penny stocks to buy can be challenging with such a broad range of companies to choose from. However, because there are so many different penny stocks to buy, the opportunities to make money with small caps are more than palpable. Considering all of this, which penny stocks are on your watchlist right now?
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