Penny Stocks To Buy Now? 5 With Big News Today
Penny stocks news sparks momentum in the stock market today.
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If you’re looking for the best penny stocks to buy today, you better have a plan in mind. One of the biggest mistakes traders make is trying to predict what the market or stocks will do. Reacting has been a proven strategy to profit from, especially in the current stock market environment. The difference is the extra second it takes to digest information instead of trying to anticipate what might happen.
With plenty of headlines buzzing about in the stock market today, there’s plenty of noise to cut through. This article looks at some f the most active penny stocks on Friday. They’ve all released meaningful news that has triggered a reaction from traders. The important thing to account for is the type of follow-through or lack thereof that will take place in the market. Case in point, many penny stocks with news tend to pop quickly once the information is released, but that move may not last as long as most traders would like.
That can result in a one-way ticket to holding the bag. We’ll break down the news and key points in the spirit of being reactive instead of predictive. We’ll also look for any upcoming or near-term potential catalysts that may be worth noting. Then you can decide if these companies deserve a place on your list of penny stocks to watch.
Penny Stocks To Watch
Nuburu Inc. (NYSEAMERICAN: BURU)
What Does Nuburu Do?
Nuburu is a blue laser technology company. Its products are used to produce faster and higher quality welds. This week’s earnings results seem to have helped bring back some bullish sentiment in the market. Earlier this year, we discussed Nuburu after it reported its latest earnings. The company posted revenue of $1.4 million for the year, equating to a 282% rise compared to previous results from the prior year. Fourth quarter revenues rose 602% over the previous year’s Q4 results.
BURU Stock News
Nuburu announced receiving more patents that grew its intellectual property portfolio. The patents broadly cover blue lasers for use in welding and other applications.
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“These new patents expand our broad patent estate around blue lasers, particularly for welding copper and other metals,” said Dr. Mark Zediker, CEO and Co-Founder of NUBURU. “These patents also cover technologies like multi-kilowatt class blue lasers that have significant advantages compared to infrared lasers available from industry incumbents.”
Clearmind Medicine Inc. (NASDAQ: CMND)
What Does Clearmind Medicine Do?
Clearmind is a psychedelic treatment development company. It has an IP portfolio of 14 patent families and has highlighted alcohol-use disorder as one of the targets of its treatment platform.
CMND Stock News
Earlier this week, the company engaged a contract research organization to support a first-in-human trial. Its CMND-100 will be evaluated in treating alcohol use disorder with the CRO acting as the project manager. Closing things out on Friday, Clearmind continues reporting new headlines, including filing a provisional patent application with the US Patent and Trademark Office as a part of its collaboration with SciSparc. The application seeks protection for the company’s combination of MEAI and SciSparc’s palmitoylethanolamide for treating depression.
Sai Tech Global Corp. (NASDAQ: SAI)
What Does Sai Tech Global Do?
Sai Tech is a company focused on providing zero-carbon energy solutions to provide clean computing services and decentralized transaction systems services to its customers. Thanks to the rise of interest in cryptocurrency and decentralized finance, companies with exposure to this niche are gaining ground.
SAI Stock News
Earlier this month, SAI stock exploded to highs of over $7, and now that the dust has settled, it’s back in focus after its latest headlines. SAI.TECH announced CTO and COO appointments for its new ULTIAAS product line. It will focus on clean computing based on liquid cooling and chip waste heat utilization technology.
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Onconova Therapeutics (NASDAQ: ONTX)
What Does Onconova Therapeutics Do?
Onconova is a biotech company developing products for patients with cancer. Specifically, its pipeline is designed around anti-cancer agents for disrupting cellular pathways vital to cancer cell proliferation. Its proprietary narazaciclib is under evaluation in two separate trials. Its other candidate is rigosertib, which is being studied in combination with nivolumab in non-small cell lung cancer and as a monotherapy in squamous cell carcinoma.
ONTX Stock News
Earlier this week, Onconova announced a plan to present preclinical data on its narazaciclib at this month’s American Association for Cancer Research meeting. Since those presentations, ONTX stock has been moving, and today’s news is another catalyst to account for. This morning, HC Wainwright upgraded Onconova to Buy and announced an $11 price target. That is significantly higher than current levels and represents a premium of more than 1,240% to recent price levels.
NovaBay Pharmaceuticals (NYSEAMERICAN: NBY)
What Does NovaBay Do?
NovaBay develops eyecare, skincare, and wound care products. Its lead product is Avenova Antimicrobial Lid & Lash Solution.
NBY Stock News
This week NovaBay announced the launch of its DERMAdoctor New Comfort + Joy psoriasis moisturizing cream on the QVC network. It will be featured on Jane & Shawn’s Beauty Secrets on Friday night, April 21st.
Why Is News Important To Stocks?
Staying informed on current events is essential for stock traders and investors alike. News, ranging from global economic indicators to company-specific updates, can significantly influence the trajectory of stock prices. Companies releasing financial reports, announcing mergers or acquisitions, or revealing breakthrough products can cause substantial market reactions.
Moreover, political decisions, regulation changes, and global economic trends can also affect the performance of stocks. These factors can lead to increased volatility or even alter the market’s overall direction. By staying abreast of the news, traders can better anticipate and react to such changes, making more informed decisions.
Additionally, timely news helps investors identify potential opportunities and minimize risks. Understanding the latest developments allows them to adjust their strategies accordingly, potentially capitalizing on emerging trends or avoiding sudden downturns.
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