Penny stocks are on the move today and we’re taking a moment to break down what’s happening with some of the top ones.
Instead of any recent news from the companies, today’s rally is more likely connected to meme stock traders. These traders often go after penny stocks searching for the top pumps and that seems to be what’s happening today.
It’s worth noting that traders will often go after shorted stocks when doing this. That allows them to squeeze out hedge funds while also making a profit by selling stocks after that squeeze.
With that covered, let’s take a look at the top penny stocks on the move today.
Top Penny Stocks Today
- Molecular Data (NASDAQ:MKD) stock is running more than 4% higher as of Thursday morning.
- Farmmi (NASDAQ:FAMI) shares are gaining over 33% today.
- Meten Holding (NASDAQ:METX) stock is getting a more than 25% boost from today’s penny stock rally.
- Grom Social Enterprises (NASDAQ:GROM) shares are jumping over 14% as of this writing.
- Camber Energy (NYSEAMERICAN:CEI) stock is getting pumped more than 15% higher this morning.
- Bridgeline Digital (NASDAQ:BLIN) shares are rising close to 4% today.
It’s also worth pointing out that short-squeezes of stocks typically bring with them heavy trading of shares. As such, expect the stocks above to trade at volumes above their daily averages.
Investors looking for more news today will want to stick around.
We’ve got the latest stories worth knowing about and that includes additional coverage of these penny stocks. Consider checking out the latest on Meten Holding and Grom Social Enterprises, as well as what has Virgin Galactic (NYSE:SPCE) rising higher. You can get all these details at the following links!
More Thursday Stock Market News
- Hot Penny Stocks: 9 Things to Know About Meten Holding as METX Stock Goes on a Run
- GROM Stock: What Is Going on With Grom Social Enterprises Today?
- Virgin Galactic News: Hold On to Your Hats, Why SPCE Stock Is Blasting Off Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed