Several penny stocks are on the move Wednesday and we’re diving into the hot news behind that momentum.
But before we get too far into this, remember that penny stocks can be incredibly volatile. They’re easily manipulated by pump and dump schemes, which means that risk-averse traders may want to sit this one out.
With that covered, let’s dive into the hot penny stocks for Wednesday below!
Hot Penny Stocks to Watch: Vivos Therapeutics (VVOS)
Vivos Therapeutics (NASDAQ:VVOS) stock starts off our list today with shares rising more than 46%. With that comes some 84 million shares changing hands, which is well above its daily average trading volume of 119,000 shares.
The news sending VVOS stock higher today has to do with its SleepImage Home Sleep Apnea Tests. The company reports an 18 times increase in the use of its test over the last three months when compared to the same period of the year prior.
Hot Penny Stocks to Watch: Gamida Cell (GMDA)
Gamida Cell (NASDAQ:GMDA) stock is getting a nearly 24% boost today. That comes with more than 10 million shares traded as of this writing. For the record, its daily average trading volume is about 561,000 shares.
An update on its submission with the FDA is behind today’s increase. The company intends to submit a rolling Biologics License Application for omidubicel. This is its treatment for patients suffering from blood cancer that are in need of a stem cell transplant.
Hot Penny Stocks to Watch: Splash Beverage (SBEV)
Splash Beverage (NYSEAMERICAN:SBEV) stock closes out our list with shares heading over 32% higher as of Wednesday afternoon. This also comes with some 49 million shares on the move. The company’s daily average trading volume is roughly 2.9 million shares.
SBEV stock is rising higher today thanks to a deal that brings its products to more stores. This has it extending its Pulpoloco Sangria line of drinks to 187 Ralph’s Grocery locations in Southern California.
Investors looking for more stock market news today will want to keep reading!
We’ve got all the most recent stock coverage that traders need for Wednesday! That includes a Rocket Companies (NYSE:RKT) stock price prediction, the latest on DatChat (NASDAQ:DATS) shares, as well as Genius Sports (NYSE:GENI) stock rising on a new rating. Let’s jump into that news at the links below!
More Wednesday Stock Market News
- RKT Stock Price Prediction: What JPM Sees Ahead for Rocket Companies
- DATS Stock Alert: What Is Going on With DatChat Today?
- GENI Stock: The Analyst Call Sending Genius Sports Shares Surging 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.
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Read More: Penny Stocks — How to Profit Without Getting Scammed