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Best Penny Stocks to Buy? 5 To Watch With Big News
Trading penny stocks? Here are 5 with big news in the stock market this week.
The post Best Penny Stocks to Buy? 5 To Watch With Big News appeared first…
Something that has become one of the go-tos for traders is stock market news. That goes for anything from penny stocks to mega-caps like Apple or Tesla. Needless to say, news can be an immediate source of excitement and negative sentiment. It can also be the source of increased speculation and, in turn, volatility.
Is news the only thing you should be paying attention to? The short answer is no, and there are plenty of other things to look at in order to surmise a game plan for trading. Data that can suggest bullish or bearish sentiment include options activity, unusual trading volume, important corporate filings like insider trading forms, and other things that can be resources to use.
In this article, we look at a handful of penny stocks to watch after recent news surfaced in the stock market today. We discuss some of the details to know and look for additional information regarding future milestones or updates.
Penny Stocks List
- Ginkgo Bioworks Holdings Inc. (NYSE: DNA)
- Applied DNA Sciences (NASDAQ: APDN)
- Virgin Galactic Holdings (NYSE: SPCE)
- Dragonfly Energy Holdings (NASDAQ: DFLI)
- Knightscope Inc. (NASDAQ: KSCP)
Ginkgo Bioworks Holdings Inc. (DNA)
We discussed Ginkgo Bioworks most recently in our article 3 Top Penny Stocks to Watch With Big News This Week, and it has been a sight to see. Shares continue higher in the stock market today, with DNA stock testing levels not traded at since February.
In that article, we talked about the company’s latest milestones. Its recent headlines focus on Ginkgo’s growth via new collaboration initiatives. A few weeks back, it announced its collaboration with Voodoo Scientific to push the production of “Smooth” spirits forward.
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Voodoo will leverage Ginkgo’s enzymatic solution to offer distillers to produce premium spirit products. Further to this, the company also announced another milestone with Ambrosia Bio. The two companies are working on a way for Ambrosia to leverage Ginkgo’s enzyme services to develop scalable production of Ambrosia’s proprietary enzymes for converting feedstock to allulose. This is an FDA-approved rare sugar found in things like figs and raisins, to be used as a sweetener.
DNA Stock News
This week Ginkgo announced advancing its collaboration with Novo Nordisk on expression systems for pharmaceutical products. It also reported that Ginkgo was awarded a research contract from the Intelligence Advanced Research Projects Activity. This is the R&D arm of the U.S. Intelligence Community for Biointelligence and Biosecurity for the Intelligence Community program. Ginkgo will look to develop a biosensor that records time-ordered cellular memory. This is used for improved traceability and biosecurity.
Applied DNA Sciences (APDN)
Applied DNA was a hot stock to watch during the days when COVID ruled stock market headlines. The company provides PCR-based technologies. The company originally attracted traders’ attention at the beginning of May thanks to an earning beat for the second quarter, specifically with a significant beat on earnings per share expectations. Originally the market anticipated a loss per share of 20 cents. However, Applied DNA reported earnings per share of 5 cents.
APDN Stock News
This week’s momentum has been propelled by acquisition news from the company. Applied DNA announced that it has acquired Spindle Biotech Inc. It is a company developing RNA manufacturing technologies. Applied said that this acquisition “combines the Company’s linearDNA IVT templates and Spindle’s RNA polymerase into an integrated offering branded as the LineaIVT platform.”
Virgin Galactic Holdings (SPCE)
One of the more active names on the list of penny stocks to watch over the last few months has been Virgin Galactic. Last month the company announced the commencement of commercial spaceflight service, Galactic 01. There will be a second spaceflight, Galactic 02, that will take to the skies in August. This first mission is designed as a research mission hosting members of the Italian Air Force as well as the National Research Council of Italy. They will conduct microgravity research while on spaceflight.
SPCE Stock News
This week Virgin Galactic gave an update on that second planned flight. The new flight window for the ‘Galactic 02’ mission will open on August 10th. This mission will be Virgin Galactic’s seventh spaceflight, second commercial spaceflight, and third spaceflight this year. It will include 3 passengers who will travel to space.
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Dragonfly Energy Holdings (DFLI)
Energy stocks are heating back up again, and Dragonfly Energy is following this trend. The penny stock traded some of its highest single-day trading volumes of the year on Tuesday. The move came after Dragonfly announced an expanded partnership with nuCamp RV to fully integrate power systems supplied by Dragonfly’s Battle Born Batteries. With a float of under 10 million shares, DFLI stock has gained momentum with this micro-trend in low-float penny stocks.
DFLI Stock News
This week, Dragonfly continued raising eyebrows with more news. The company announced that it will be granted a U.S. patent for a battery pack assembly design for custom installation. According to Dragonfly, the patent covers the look and design of the assembly case of its GC3 12V 270Ah LiFePO4 deep-cycle battery.
Commenting on the milestone, Dr. Denis Phares, CEO of Dragonfly Energy, said. “Our signature deep cycle batteries are well known in our core markets and position us to expand into new industries. In addition to our advancements in cell manufacturing and other fundamental storage technologies, these design patents maximize the value of our innovations.”
Knightscope Inc. (KSCP)
Shares of Knightscope continued trading higher in the stock market today. The company is known for its autonomous security robots and emergency communication systems. For the better part of the last few weeks, KSCP stock has traded higher. Initially, the catalyst for the bullish move came after Knightscope highlighted a conversation about its 2023 projections on a popular stock market podcast.
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The company also announced payback in full of $6 million of convertible notes. The sentiment had been much more upbeat leading up to July and the latest headlines from the company stoked that trend this week.
Georgia State University selected Knightscope Authorized Partner Transportation Solutions & Lighting, Inc., – Safety and Security Division – National Safety Systems to supply, install, and support more than 50 Knightscope K1 Blue Light Emergency Towers and Call Boxes throughout their downtown Atlanta campus.
KSCP Stock News
Knightscope announced on Thursday that it received a new order for its K1 Blue Light Emergency Towers from an unnamed community college in California.
The post Best Penny Stocks to Buy? 5 To Watch With Big News appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.
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