Trending Penny Stocks Climbing As DogeCoin Falls Amidst Musk News
Apr 11th, 2022 16:00 EST
3 Trending Penny Stocks to Add to Your April Watchlist
If you’re looking for penny stocks to buy, there are plenty of options to choose from. One of the most important things to remember when buying penny stocks is to do your research. There are a lot of different factors to consider when purchasing penny stocks, and you need to be sure that you understand all of them before making any decisions. Right now, investing in the stock market can be a risky proposition, but there are still opportunities out there for those who are willing to take the risk.
Before we go any further, it’s worth understanding that some of the biggest news in the stock market right now has to do with Elon Musk and DogeCoin. While rumors surrounded that Elon Musk would join the board of Twitter, he has stated that this will, in fact, not happen. Alongside this, we are also seeing the price of DogeCoin decline alongside other cryptocurrencies. While this may not have an immediate effect on penny stocks, it is important information to understand.
When it comes to penny stocks, one of the first things you need to consider is your own investing style. This means understanding your risk tolerance, what your looking for in an investment, and how much time you’re willing to spend researching stocks. There is no “right” answer when it comes to investing. For this reason, you need to figure out what works best for you.
Once you have a good understanding of your own investment strategy, the next step is to start looking at different penny stocks. When considering which penny stocks to buy, there are a few things you need to keep in mind. First, you want to find a company that could have value. Second, you want to find a company with good financials. This means that the company is doing well financially and has a strong future outlook.
For example, two big movers today are Guardforce AI Co. Ltd. (NASDAQ: GFAI) and Hycroft Mining Holding Corp. (NASDAQ: HYMC). So, with all of this in mind, let’s take a look at three penny stocks that are trending in April.
3 Penny Stocks That Are Trending in April
- Castor Maritime Inc. (NASDAQ: CTRM)
- Mullen Automotive Inc. (NASDAQ: MULN)
- Altamira Therapeutics Ltd. (NASDAQ: CYTO)
Castor Maritime Inc. (NASDAQ: CTRM)
One of the biggest gainers of the day is CTRM stock, which shot up by over 20% at midday. In the past few months, we’ve covered CTRM stock multiple times due to its frequent moves and volatility. The most recent news from the company came on March 10th when it announced that it has fixed its M/V Mafic Moon Panamax dry bulk carrier on a time charter.
It stated that it will have a minimum of twelve months on this charter which began on April 5th. This is a big update for the company and continues to be an exciting news update for CTRM and its investors. If you’re not familiar, Castor Maritime is a provider of shipping transport services. In its three months ended December 31st financial report, the company announced $29.2 million in net income.
“2021 was a transformational year for Castor. We have grown exponentially ending the year with 29 vessels, on a fully delivered basis, and we have enjoyed strong operating cash flow especially in the second half of the year. We benefit from a healthy liquidity position and low leverage and in January 2022 we signed and drew down a new credit facility.”Mr. Petros Panagiotidis, CEO of Castor Maritime Inc.
Considering all of this, do you think that CTRM stock is worth adding to your list of penny stocks to buy?
Mullen Automotive Inc. (NASDAQ: MULN)
With over 8.7% in gains at midday, MULN is another penny stock that is climbing right now. By EOD, shares of MULN stock had climbed following a few days of interesting trading. The most recent news from the company came as it reportedly falsified certain claims regarding its solid-state battery. However, there is a lot that is unfolding surrounding this right now.
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Additionally, news came out in an interview with the CEO of Bitnile, Milton Todd Ault III, that the battery made by Mullen could have a 600 plus mile range. If this is true, there’s no doubting how crucial this battery tech could be to the future of the EV industry. While there is a lot that is going on with MULN stock right now, there is also a lot of bullish momentum behind the scenes. Whether this makes MULN stock worth buying or not however, is up to you.
Altamira Therapeutics Ltd. (NASDAQ: CYTO)
By EOD, shares of CYTO stock had made a major 40% jump to over $1.50 per share. This is a staggering climb that adds to a one month gain of more than 60%. To understand this move, we have to take a closer look at CYTO stock and why shares are pushing up right now. The big news from the company came today as it announced positive in-vitro data regarding its Bentrio, drug-free nasal spray against the Delta variant of Covid-19. It stated that using this as a prophylactic reduced viral titer vs. control of over 83%.
“We are encouraged by the study reported by IJMS, which demonstrates that Bentrio produced substantial reduction in the viral titer from infection with SARS-CoV-2. With our COVAMID clinical trial, which we initiated in March 2022, we are now testing Bentrio in patients suffering from acute COVID-19. Enrolment has been progressing swiftly so far, and we hope to complete the randomized controlled study during the third quarter.”The CEO of Altamira, Thomas Meyer
Looking at this exciting news, will CYTO be on your penny stocks watchlist or not?
Which Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy is all about understanding where to look. With so many options to choose from, it can seem like a daunting task to pick a few penny stocks for your list.
However, by understanding exactly what is going on in the stock market and where to look, buying penny stocks can be much easier than previously imagined. Considering this, which penny stocks are you watching right now?