3 Penny stocks exploded during today’s trading
At the moment, there is a great deal of volatility in both the small stocks and the blue-chip deals. But to take advantage of this volatility, investors need a comprehensive and consistent understanding of how to make money on small stocks and how to trade.
At the moment, there are quite a few factors that those who invest in cash stocks should consider. Chief among them are Covid and the Omicron variant. While the alternative has been around for over a month now and anxiety has subsided, the massive case numbers are wreaking havoc on global markets. Although the volatility is nowhere near what it was just a few weeks ago, it is still at a level that some might find uncomfortable.
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But with volatility also comes the potential to make money from big price swings. Therefore, fully understand what your trading strategy is and how to benefit from it. And think about how the market will move in the short and long term. While no one expects 2022 to be a year without volatility, investors believe that there will be bullish sentiment in the market. Given all of this, let’s take a look at three penny stocks that are rising right now and why.
3 Penny stocks to watch this rise now
- Comstock Mining Inc. (NYSE: LODE)
- CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
- Denison Mines Corporation (NYSE: DNN)
Comstock Mining Inc. (NYSE: LODE)
One of the biggest gainers of the day so far is LODE stock, which jumped more than 27% at midday. This brings her five-day gain to more than 35% which is no small feat. And in the past year, LODE’s shares are up more than 50%, which helps explain why investors are interested in it right now.
For some context, Comstock mining is innovative in the extraction and production of natural resources. This includes strategic materials that can be used to produce clean energy and natural products. With the main market focus on a renewed and cleaner future, many investors are looking for the next best stocks to buy in the industry.
Why is LODE stocked today?
Significant news declined today when the company announced its acquisition of approximately 3.13 million common shares of LINICO Corp. In addition to the shares you already own. This increases Comstock’s total ownership in the company to about 90% from the previous 45%. LINNICO is a leading producer and developer of electrical products including graphite from lithium-ion batteries and more.
“Our increased investment in LiNiCo was a natural extension of our plan to build high-end cash generation operations that take advantage of massive markets and decarbonize the supply chains of increasingly scarce natural resources.
We believe that LiNiCo’s pioneering extraction technologies will quickly prove to be the best, most sustainable and valuable process for producing lithium and other electricity products from recycled batteries and virgin natural resources. ”
Comstock CEO, Corrado De Gasperis
This is important news for the company and should help put it at the forefront of the ESG industry. Given that, will LODE be on the list of small stocks to buy this month?
CNS Pharmaceuticals Inc. (NASDAQ: CNSP)
One of the biggest gainers of the day so far is CNSP stock, which jumped more than 55% at midday. That brings its five-day gain to more than 75% despite a one-year decline of about 27%. If we look at the CNSP stock chart, we see a clear bullish shift taking place in the past few trading days. But before we get into why, it’s worth understanding what CNS Pharma does.
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CNS Pharmaceuticals produces a wide range of anticancer drug candidates for the treatment of various metastatic cancers of the brain and central nervous system. This includes the drug’s leading candidate, Berubicin, a new anthracycline that the company is currently developing.
Why is CNSP Stocked Today?
Although no news came out today to show why CNSP shares are rising, we can try to infer a reason based on recent news and announcements. Today’s move with the CNSP is likely due to its short float and market expectations. Every once in a while we’ll see big contests like this with a little bit of news to back it up.
While it’s out of the ordinary, it does happen regularly, especially with smaller stocks. Currently, the CNSP is still working on the development and approval process for Berubicin. So, with that in mind, do CNSP stocks deserve a place on your small stock watch list?
Denison Mines Corporation (NYSE: DNN)
The other big gainer today is DNN stock, which rose about 8.9% in the middle of the day on January 5th. That brings its five-day gain to more than 17%. While this may not sound like much, it is very important for a mining pool.
It’s worth noting that we’ve covered DNN inventory several times in the past few weeks due to the industry’s bullish trend on uranium mining at the moment. As a pure uranium mining company, DNN has a lot to draw from in the long run.
Why is DNN stored now?
One, if not the main reason for Denison’s growth today comes in the wake of this week’s big move. On January 3rd, the European Commission proposed that it would begin classifying nuclear power as green energy in Europe. This would likely include uranium, making these companies a green energy stockpile.
While this is not a fundamental change for DNN in and of itself, it is a great move in the right direction for the industry as a whole. And while uranium is stigmatized, it’s still an incredibly efficient and clean source of energy. With that in mind, do you think DNN stock is worth buying or not?
Are Penny Stocks Worth Buying in 2022?
If you are considering buying small stocks in 2022, there are plenty of opportunities to choose from. While Covid is still causing a significant movement in the market at the moment, we are also seeing quite a bit of bullish market sentiment to capitalize on.
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However, small stock trading is not for the faint of heart. Investors need a complete and complete understanding of how the market moves and how to profit. So, make a trading strategy and stick with it no matter what happens with the small stocks. Given all of this, do you think the small stock is worth buying in 2022?
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