Penny Stocks To Buy? 7 To Watch Now After Big News

Looking For Penny Stocks To Watch? Check For News

Penny stocks are low-priced stocks traded outside significant stock exchanges. These stocks usually have a market value of less than $5 per share, making them affordable to new and small investors. However, investing in penny stocks can be risky, and investors should stay informed about the latest news and developments to make informed investment decisions.

Economic news is a critical factor that can impact penny stocks. Financial reports, such as GDP, employment, inflation, and interest rates, give investors a sense of the current state of the economy and can help make predictions about its future trajectory. Investors should keep an eye on these indicators to understand the economic environment in which cheap stocks operate.

Interest rates are another significant factor that can impact penny stocks. The Federal Reserve sets the interest rate, and changes to this rate can significantly affect the economy. Rising interest rates can make borrowing money more expensive for people and businesses, leading to decreased spending and slower economic growth. Lower interest rates, on the other hand, can increase spending and boost economic growth.

News about individual companies can also be catalysts that affect low-priced stocks. Announcements about earnings, mergers and acquisitions, and new product launches can significantly affect a company’s stock price. Positive news, like strong earnings, can cause the stock price to increase. Meanwhile, negative news, like weak earnings or a lawsuit, can lead to a drop in the stock price.

Political news can also play a significant role in penny stock investments. Announcements about new laws and regulations, elections, and other political developments can impact the stock market. The election of a business-friendly government can increase investment in the country, which might help boost the stock market. Conversely, newly elected government officials hostile to business can lead to decreased investment and a decline in the stock market.

Using Penny Stock News To Your Advantage

Reading news articles, watching financial news programs, and subscribing to penny stock newsletters can help investors stay ahead of the curve and make more informed decisions.

It’s crucial to evaluate news sources when making investment decisions. Not all sources are equal, and some may be vested in presenting information a certain way. For example, a financial news program sponsored by a particular investment firm may give information that is favorable to that firm. Investors should consider the source’s credibility carefully when evaluating news and making investment decisions. This article looks at a handful of cheap stocks with big news turning heads in the stock market this week. It also continues the list of penny stocks from our article “4 Penny stocks with big news in February 2023. Are they the best to buy now?“

Amyris Inc. (AMRS)

Shares of Amyris have traded in a relatively tight range since the start of the year. One of the primary technical levels that seem to have held it down is the 50-day moving average. Shares haven’t traded above this level for a sustained period since the end of Q3 last year. This week, AMRS stock tested this technical level several times, and its latest headlines acted as yet another catalyst for new momentum to kick in.

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AMRS Stock News

This week, Givaudan, a fragrance & beauty company, announced that it reached an agreement to acquire certain cosmetic ingredients from Amyris, Inc. The list includes Neossance® Squalane, Neossance® Hemisqualane, and CleanScreen. The terms of the deal include a combination of upfront cash consideration, a performance-based earnout, and a long-term manufacturing agreement.

Sidus Space Inc. (SIDU)

We discussed SIDU stock earlier this week in the article “7 Cheap Robinhood Stocks Under $1 To Watch Trading For Pennies.” The company specializes in “Space-as-a-Service” and specifically commercial satellite design, manufacturing, and launch, among other things. It offers predictive analytics to customers as well. Sidus has been rebounding over the last several weeks after falling when it announced its latest round of financing.

Now that the dust has settled and the company has fresh cash in hand, the market is looking for the next move to be made. Plans are for the money to be used for sales and marketing, operational costs, product development, and manufacturing expansion. The funding came shortly before Sidus was awarded a $2.5 million project for The Netherlands Organization for Applied Scientific Research. The two will test the Organization’s laser communications technology on a Sidus LizzieSat satellite.

SIDU Stock News

Adding more fuel to the fire this week is some Elon Musk-related news; specifically, one of his companies inked a deal with Sidus. This week it announced it had signed an agreement with SpaceX to launch on Transporter missions manifested for 2024 and 2025.

In response, CEO Carol Craig explained, “With an expected nine LizzieSats in orbit via SpaceX launches through early 2025, we can accommodate multiple missions, offering a variety of flight opportunities to customers. This provides our customers multiple manifest options to meet their mission objectives while expanding our space data and imagery platform as part our mission of “Bringing Space Down to Earth.”

AMTD Idea Group (AMTD)

Shares of AMTD IDEA Group have been on the radar for months. The attention started with the company’s tie-in with AMTD Digital Inc. (NYSE: HKD). Last year, HKD stock exploded after going public from around $12 to highs of over $2,550 in a few days.

The Asian digital solution provider saw its shares explode as it debuted publicly. The company’s parent AMTD Group was launched in 2003 by Hong Kong’s telco giant CK Hutchison, founded by billionaire Li Ka-shing. AMTD Digital was spun out in March. Fast-forward to this year, and the two stocks continue moving in sympathy with one another.

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Earlier this month, AMTD Idea announced a transaction with AMTD Digital would receive 100% ownership of AMTD Assets Group. The details may not matter as much as the outcome in that AMTD IDEA increased its interest in AMTD Digital to 85.8%.

AMTD Stock News

This week AMTD Digital is the company reporting the news. It announced that for the six months that ended in October 2022, the Group achieved over a 130% increase in net profit. This update helped spark momentum in both AMTD and HKD stocks this week.

List Of Penny Stocks To Watch [News Edition]

1. Amyris Inc. (NASDAQ: AMRS)
2. Sidus Space Inc. (NASDAQ: SIDU)
3. AMTD Idea Group (NYSE: AMTD)
4. LM Funding America Inc. (NASDAQ: LMFA)
5. Mobilicom Ltd. (NASDAQ: MOB)
6. Sorrento Therapeutics (NASDAQ: SRNE)
7. Asensus Surgical Inc. (NYSEAMERICAN: ASXC)

The post Penny Stocks To Buy? 7 To Watch Now After Big News appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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