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5 Penny Stocks to Watch That Exploded Today, What You Need to Know

These 5 Penny Stocks Climbed Today, Are They On Your Watchlist?

On September 23rd, many penny stocks and blue chips managed to climb by midday. This is the result of early-week bearish sentiment and a resulting bullish turnaround. If you’ve invested in penny stocks in the past year, you likely have experienced major industry volatility. This is a symptom of Covid, inflation, and certain geopolitical events. 

PennyStocks.com – PennyStocks

And as a result, every day seems to carry a high amount of market fluctuations. So, investing in penny stocks in 2021 is unlike any other year, however, this increased momentum means that there is a lot to take advantage of. The best way to do so is to have both a trading strategy and a strong trading education by your side. 

[Read More] Are Penny Stocks on Your Watchlist? If So, Check These 3 Out

The combination of these will help to minimize losses and increase the potential profitability of your trades. In addition, having a thorough understanding of the current market conditions will help you to predict potential price movement. And as a result, it may be easier to make money with penny stocks. Considering this, here are five small caps that exploded today. 

5 Penny Stocks That Exploded During Today’s Trading Session 

  1. Transcode Therapeutics Inc. (NASDAQ: RNAZ
  2. Matinas BioPharma Holdings Inc. (NYSE: MTNB
  3. BEST Inc. (NYSE: BEST
  4. ReWalk Robotics Ltd. (NASDAQ: RWLK
  5. Senmiao Technology Ltd. (NASDAQ: AIHS)  

Transcode Therapeutics Inc. (NASDAQ: RNAZ) 

One of the biggest gainers of the trading day so far is Transcode Therapeutics Inc. By midday, shares of RNAZ stock managed to shoot up by over 57%. This brings its five-day gain to over 60%, which is more than substantial. While gains like this can occur without news, Transcode made an exciting announcement during premarket on September 23rd. 

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If you’re not familiar with Transcode, the company is an oncology-focused biotech business working with RNA-based therapeutics. Its drugs are produced with the intention of treating different cancer types including its leading therapeutic candidate, TTX-MC138. This compound is in use as a treatment for metastatic cancer, which according to the company, is responsible for 90% of all cancer deaths per year worldwide. Today on September 23rd, the company stated that clinical data from TTX-MC138, was published in the medical journal, Cancer Nanotechnology. 

“Our TTX technology builds upon prior experience with similar iron oxide nanoparticles that have long been used in humans for imaging, potentially enabling clinical studies that may de-risk future clinical trials by demonstrating successful drug delivery and assist in patient selection for future treatment.” 

Michael Dudley, the CEO of Transcode

This is a big deal for the company and shows the potential success of its leading drug candidate. Considering that RNAZ stock does look highly volatile, it could be worth adding to your watchlist in September. Whether it’s worth buying or not, however, is up to you. 

Penny_Stocks_to_Watch_Transcode

Matinas BioPharma Holdings Inc. (NYSE: MTNB) 

Another decent gainer of the day so far is MTNB stock. By midday, shares of MTNB had shot up by over 5% which is no small feat. This brings its one-month gain to a very sizable 100%. While no company-specific news came out today, it did make an announcement on Monday of this week. But before we get into it, it’s worth discussing the company and other possible causes of the recent momentum. 

For one, the biotech industry is heating up right now. As evidenced by several other major biotech penny stock gainers, we are witnessing solid bullish momentum in the biotech industry. On September 20th, the company announced that it has nominated Kathryn Penkus Corzo for its Board of Directors. While the official election will take place on November 1st, the company states that Ms. Corzo has a very solid track record. 

Only a week or so before this, the company announced highly positive data from its Phase 2 EnACT trial of MAT2203 for cryptococcal meningitis. In the study, all 39 patients achieved sterility and none reported a breakthrough or recurring infection during the first ten weeks. This is very encouraging and shows the potential that this drug could have. So, if we look at all of this data wholly, we see that MTNB is in a very advantageous position as it related to its potential future. With this in mind, will MTNB stock be on your watchlist?

Penny_Stocks_to_Watch_Matinas BioPharma Holdings Inc. (MTNB Stock Chart)

BEST Inc. (NYSE: BEST) 

One of the most consistent gainers of the day and of the past few weeks is BEST stock. Today, shares of BEST stock shot up by as much as 11% and in the past five days by over 40%. In the past month, shares have shot up by over 92%. 

While these gains are exciting, what’s more, exciting is the chart for BEST shows a very stable climb during that period. BEST Inc. for some information, is a smart supply logistics provider in China. It offers a large set of logistics services, freight delivery, and supply chain management products to ensure freight gets delivered on time and is completely trackable. Ahead of its upcoming 2021 Annual General Meeting on October 20th, we can look at why shares of BEST Inc. have been skyrocketing in recent trading sessions. 

[Read More] Top Penny Stocks To Buy The Dip According To Analysts In September

According to a report that came out today, one of BEST’s shareholders, Alibaba Group Holding Ltd., could be considering selling the logistics business. BEST Inc. is working with a financial advisor and is seeking a potential valuation of over $1 billion. If the sale occurs, it would be a big deal for both the company and investors alike. And as a result, shares have been shooting up on higher volume during the past few trading days. Whether this makes BEST Inc. a worthy addition to your watchlist or not is up to you.

Penny_Stocks_to_Watch_BEST Inc. (BEST Stock Chart)

ReWalk Robotics Ltd. (NASDAQ: RWLK) 

Moving down the list of major gainers for the day on September 23rd, we see RWLK stock with a midday rise of over 32%. To understand why RWLK stock is moving, we have to take a look at its short squeeze potential. ReWalk is known as a meme stock, which is a stock that rises based on social sentiment. We saw this with GME stock, AMC stock, and a plethora of others over the past year and a half. And, many of these stocks are driven by their short squeeze potential. While ReWalk does have promise as a producer of exoskeletons, it does not seem like this is what’s driving its price. 

Rather, traders have come together across social media to invest in RWLK, effectively driving its price up substantially. In the past five days, shares of RWLK stock have shot up by over 88% bringing its one-year gain to over 118%. In its second-quarter results, ReWalk managed to bring in more than $1.4 million in revenue with over $64 million in cash on hand. 

“The second-quarter results reflect the ongoing reopening of the markets. We are now able to trial many new individuals who had been waiting and filled our pipeline during the pandemic. Our focus on achieving broader coverage in Europe and the United States has also been encouraging.”

Larry Jasinski, the CEO of ReWalk

All of this news is exciting, however, investors should be careful considering the high volatility of RWLK stock right now. But, if you are inclined to invest in riskier companies, ReWalk Robotics could be worth taking a look at. 

Penny_Stocks_to_Watch_ReWalk Robotics Ltd. (RWLK Stock Chart)

Senmiao Technology Ltd. (NASDAQ: AIHS) 

By midday, shares of AIHS stock had climbed by over 8%, bringing its five-day gain to almost 30%. Based in China, Senmiao is a provider of automobile-related transaction services. This includes the facilitation of leasing, purchasing, and other car buying needs. But, in addition to this, it also operates its own ride-hailing platform. 

Only a week or so ago, the company announced metrics from its platform, which showed that in August, it completed over 530,000 trips. Since the launch, the company states that it has completed over 12.7 million rides. This is a major number and shows that it could become a leader in the ride-hailing market in China. In addition, only a few days before this the company stated that it entered into a cooperation agreement with Shanghai Lutuan Technology. 

Xi Wen, CEO of Senmiao stated that “we are pleased to continue our partnership with Meituan under this new model, whereby we provide Meituan with access to our network of cars and drivers in Chengdu and Guangzhou.” Because of its sizable gains in the past week, AIHS stock could be worth looking into. 

Penny_Stocks_to_Watch_Senmiao

Which Penny Stocks Are You Watching Right Now?

Finding the best penny stocks to buy in 2021 can be complicated. But, with the right research and commitment to having a trading education, it can be much easier to make money with penny stocks.

[Read More] Top Penny Stocks You Need to Know About Right Now

And, with so much going on in the stock market, there is plenty of momentum to take advantage of. So, considering all of this, which penny stocks are you watching right now?

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