Finding the biggest gaining penny stocks of the day can be a useful strategy. However, other components should go into making a penny stocks watchlist. First and foremost is research.
Discovering the ins and outs of certain penny stocks can help to determine how likely they are to succeed in either the short or long term. The next thing to consider is the speculative factors that may be impacting a company. This could be company-specific, industry-specific, or global economic news.
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So, staying up to date with all the latest happenings in the market can be the difference between big gains and big losses. Considering how fast the stock market moves in 2021, it is prudent to understand what is causing price action to change. With all of this in mind, here are three big gaining penny stocks to watch right now.3 Big Gaining Small-Caps For Your Watchlist Right Now
- Cellect Biotechnology Ltd. (NASDAQ: APOP)
- Evofem Biosciences Inc. (NASDAQ: EVFM)
- 9F Inc. (NASDAQ: JFU)
Shares of APOP stock had risen by over 70% at one point during trading on June 17th, before falling back to a respectable 36% at 11 A.M. Briefly surpassing penny stocks territory, APOP stock made some big moves today.
Before we get into it, let’s talk about what Cellect Biotechnology does. As its name implies, Cellect is a biotech penny stock, working on breakthrough technology for cell-based therapies. It utilizes stem cells from different tissues in the body, to provide new regenerative medicine techniques.
Its lead product is in several FDA-approved clinical trials to see its efficacy for bone marrow transplants in those suffering from cancer. Big news struck this morning when the company announced a registration statement with the SEC for a strategic merger with Quoin Pharmaceuticals.
Quoin is a pharmaceutical company working on both rare and orphan diseases. With Quoin’s myriad of clinical programs and secured investments of around $25.5 million, Cellect could be in an advantageous position moving forward.
One thing to consider is that mergers occur frequently in the biotech industry. These are beneficial for both parties involved as they allow companies to expand into different areas of the industry. In this case, we could see Cellect utilize its technology with that of Quoin’s to make new and better breakthroughs for the benefit of patients.
While the completion of this merger is still largely unknown, this is without a doubt an exciting prospect for investors. Considering this, will APOP stock be on your watchlist?Evofem Biosciences Inc. (NASDAQ: EVFM)
Evofem is a penny stock that we’ve discussed many times over the past few months. Since late May, shares of EVFM stock are up by over 51%. Today on June 17th, EVFM stock is up by around 9% at midday, indicating solid bullish sentiment. So, why is Evofem increasing so much in several recent trading sessions? Well, to understand it, let’s go over what EVFM does.
Evofem is a biotech company aimed at developing products for women’s health purposes. This includes its flagship commercialized compound, Phexxi. Phexxi is its first FDA-approved product and is in commercialization around the world. Additionally, it is working in an ongoing Phase 3 clinical trial of EVOGUARD, to prevent both Chlamydia and Gonorrhea.
While no major news has come out of EVFM in the past few weeks, it did present at the Jefferies Virtual Healthcare Conference on June 4th. Right now, major efforts are underway to move EVOGUARD through the final trial stages. And, last month, it announced a sizable $50 million public offering, presumably to raise funds for this endeavor. Net proceeds from this offering will come in at around $46.6 million after fees are deducted.
With any biotech company, funding is always the most important factor for growth. This is due to the very capital-intensive process of producing new drugs and moving them through trials. While shares of EVFM are quite volatile and down by around 5% on the month, it could have a bright future if EVOGUARD can be commercialized. Considering this, will EVFM stock be on your list of penny stocks to watch?9F Inc. (NASDAQ: JFU)
Shares of JFU stock shot up by a vert solid 25% or so on June 17th at midday. While no company-specific news was announced, we do see big moves occur at times without any update to back it. So, to try and figure out why we have to examine 9F Inc. wholly. One reason for today’s gain could be that JFU stock is mentioned frequently on social media sites such as Reddit and Twitter.
While this is not an easy explanation to identify due to how fast social media moves, it could provide a part of the reasoning. For some context, 9F Inc. is an internet technology company focused on fintech and online wealth management. It works with mid and high-net-worth individuals to provide these services in Hong Kong and certain Southeast Asian countries. Another explanation for today’s move is what’s known as sympathy trading. When one company in a specific sector moves up, others tend to follow.
We witnessed a move like this with JFU stock back in early June when better-than-expected unemployment data resulted in a push of many media penny stocks. And again this week, we are seeing low unemployment rates and positivity following the Fed meeting yesterday and Fed Chair Jerome Powell’s excited tone about the future. So, while it is difficult to identify just why JFU stock is moving today, it could be worth taking a first or second look at for your penny stocks watchlist.Are Penny Stocks Making a Comeback?
If you’ve traded stocks in the past three months, you have probably noticed the lack of volume and mostly sideways trading patterns. Following early 2021 record highs, this made sense as market corrections are natural.
And while disappointing, we can’t expect the stock market to continue climbing forever. But, as we move further into the Summer, many penny stocks are making big comebacks. This means that we could see more momentum as time goes on. While the time frame of this is unknown, there’s no doubt that investors are excited about the future. With all of this in mind, are penny stocks making a comeback?