Penny stocks are seeing incredible movement on Tuesday as retail traders ride along with a wave of rallies in the oil sector.
All of this comes as traders seek out good investment opportunities as the war between Russia and Ukraine continues. Rising fuel costs are contributing to oil stocks increasing and other industries are likewise riding higher today.
While these stocks are rallying now due to heavy trading, that may not be the case in the coming days. Keep that in mind when investing and makes sure to take all the precautions necessary to avoid a potential pullback.
With that said, here’s some of the top penny stocks making major moves on Tuesday!
6 Penny Stocks on the Move
- OceanPal (NASDAQ:OP) stock starts us off as shares were rising higher in trading this morning but are now down 12%. That comes with some 56 million shares on the move, as compared to its daily average trading volume of 3.3 million shares.
- Nine Energy Service (NYSE:NINE) shares are rocketing more than 57% higher alongside other energy stocks lately. With that are some 67 million shares on the move compared to a daily average trading volume of 1.5 million shares.
- Enservco (NYSEAMERICAN:ENSV) stock is taking off over 116% as penny stocks continue to rally today. That comes alongside 90 million shares traded with its daily average trading volume sitting at 1.9 million shares.
- Polar Power (NASDAQ:POLA) shares are slipping more than 12% following a rally this morning. With that comes some 8 million shares changing hands, as compared to its daily average trading volume of about 211,000 shares.
- Sunworks (NASDAQ:SUNW) stock is getting an over 21% boost in trading today. Alongside that are 31 million shares traded with its daily average trading volume being 1.5 million shares.
- Mullen Automotive (NASDAQ:MULN) shares are jumping more than 12% as of this writing. That comes as over 160 million shares of the stock have been traded, as compared to its daily average trading volume of about 38 million shares.
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