APRN - 3 Penny Stocks Exploding in Early May 2022
Why These Penny Stocks Are Climbing Right Now
Finding penny stocks that are climbing can be challenging, but, there are a bunch of ways to make it much easier. The first step is to understand exactly what is going on in the stock market. Because penny stocks are so speculative, this is a crucial step.
As you begin to understand the market, you can start looking for patterns that indicate stocks are likely to rise in the near future. Some of these signals include an upcoming event such as an earnings release or capital raise, a major shift in sentiment among analysts and investors, or recent news coverage of a company.
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Once you’ve identified a potential penny stock that looks like it could be on the rise, it’s important to do your due diligence to make sure it’s a good investment. This includes researching the company, its financials, and any recent news.
Recently, we’ve seen major volatility for both penny stocks and blue chips . This is the result of rising inflation, economic data, and increasing interest rates. Because of all this, we have also seen sizable declines in the past few weeks across the board. So, as we continue to trade stocks in 2022, it will be crucial to be nimble and identify the stocks that look like they could see a rebound.
While there are many moving parts to the stock market, if you can identify the penny stocks that are primed for a breakout, you could see some significant gains. So, keep your eyes open, and don’t be afraid to do your research. With that in mind, let’s take a look at three penny stocks that are climbing during trading right now.
3 Penny Stocks That Are Climbing During Trading
- Ostin Technology Group Co. Ltd. ( NASDAQ: OST )
- Transocean Ltd. ( NYSE: RIG )
- Blue Apron Holdings Inc. ( NYSE: APRN )
Ostin Technology Group Co. Ltd. (NASDAQ: OST)
One of the largest gainers of the day is OST stock. At midday, shares of OST stock had shot up by over 60%. This is a major gain that comes after a one month drop of over 87%, which is no small feat. It’s worth noting that OST stock only went public around a week ago, which is something to consider.
And a few days ago, it announced the closing of its IPO, which includes a full exercise of its over-allotment options. For some context, Ostin Technology is a China-based tech stock. The company supplies a large range of display modules and polarizers to the Chinese market. In addition, it offers LCDs, automotive displays and much more.
After its first day of trading, shares of OST stock shot up by over 890% to more than $39.66 before falling back to its price today of around $4.75 per share. These major moves reflect the incredible volatility that is both stock market wide and specific to OST stock right now. So, while it is tough to say that OST stock is a buy given its large moves, the company does look like it could have a lot to offer short term traders. With that in mind, will it be on your penny stocks watchlist or not?
Transocean Ltd. (NYSE: RIG)
Transocean is a penny stock that we have covered multiple times in the past few months. And today, shares of RIG stock managed to climb by around 7.2%. This comes alongside a YTD uptick of over 27%, which is quite a lot. While we do see large moves with little to no news behind it, RIG stock made an exciting announcement at EOD on May 2nd.
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The company posted its Q1 2022 results. In the results, the company posted lower drilling revenues than Q4 of $586 million total. While it did manage to increase its revenue efficiency to 94.9%, the company brought in a net loss of $175 million or $0.26 per share. In addition to that, RIG announced an adjusted EBITDA of $163 million, which is compared to $250 million quarter over quarter.
“The Transocean team continued to provide safe, reliable and efficient operations for our customers during the first quarter, resulting in approximately 98% uptime performance across our global fleet.
With this consistently dependable performance, our industry-leading fleet of high-specification, ultra-deepwater and harsh-environment floaters and the continued deployment of new technologies, we are well-positioned to capitalize on the ongoing recovery in the offshore drilling market.”
The CEO of Transocean, Jeremy Thigpen
This news is very exciting and shows that RIG stock is working hard to grow. Despite its drop in performance over the previous quarter, these numbers are still positive overall. Considering that, will RIG stock be on your list of penny stocks to watch?
Blue Apron Holdings Inc. (NYSE: APRN)
Another decent gainer of the day is APRN stock. At EOD, shares of APRN stock had shot up by over 5%. The big news for the company came as it announced a $70.5 million capital infusion. This major amount, invested mostly by RJB Partners, comes alongside an agreement for a $500,000 private placement by its President and CEO, Linda Findley.
It stated that it will use this money to begin paying off its existing term loan debt as well as for corporate purposes. On top of all of this, the company will refinance its debt with $30 million in a partnership from Allianz Global Investors. All of this exciting news adds to the reasons for why APRN stock is up right now. Considering that, does it deserve a spot on your buy list or not?
Which Penny Stocks Are You Watching Right Now?
If you’re looking for penny stocks to buy, there are plenty of options out there. But, not all penny stocks will see major gains, and not all penny stocks are worth investing in. Because of that, it all comes down to finding the right penny stocks to buy.
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this involves knowing your trading strategy and knowing what to look for in a penny stock. So, if you’re interested in finding the best penny stocks to buy, keep a close eye on the news, and make sure to never trade with emotions. With that in mind, which penny stocks are you watching right now?
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