Home Correction trading Trading Penny Stocks? Main stock market news for January 21, 2022

Trading Penny Stocks? Main stock market news for January 21, 2022

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Buy Penny Stocks today? Here’s what you need to know

With another crazy week of penny stock and blue chip trading coming to an end, there is plenty for investors to watch right now. Currently, there are several factors hampering the growth of the stock market, including the pandemic, inflation, balance sheet announcements, and more. And because penny stocks are both reactive and speculative, it’s worth taking a closer look.

What’s going on in the stock market right now?

In the January 21 pre-market, we saw a decline in futures, signaling another potentially bearish trading day in the market. With the NASDAQ Composite having fallen around 1%, it is now down around 12% from its November high. This clearly signifies a bearish drop and puts it well into correction territory.

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On the earnings side, we saw shares of Netflix (NASDAQ: NFLX) drop more than 20% during premarket due to slowing subscriber growth. Its outlook for first-quarter subscriber growth was well below expectations, with just 2.5 million reported, compared to nearly 6.3 million expected. Other entertainment companies such as Disney and Roku also saw their stock prices fall, likely as part of a favorable move.

So while this may all seem daunting, given the extraordinary times we live in, it makes sense that we are seeing such market volatility. On top of that, we also saw the price of Bitcoin drop below $40,000, with crypto-related stocks dropping simultaneously. So, with that in mind, let’s take a look at three penny stocks that gained during the premarket.

3 Penny Stocks That Gained During Premarket

  1. Blue Star Foods Corp. (NASDAQ: BSFC)
  2. Save Foods Inc. (NASDAQ: SVFD)
  3. ReTo Eco-Solutions Inc. (NASDAQ: RETO)

Blue Star Foods Corp. (NASDAQ: BSFC)

By far the biggest gainer of the day was the BSFC stock, which jumped over 220% in the morning session. Although we saw a similar jump with BSFC stocks in November last year, this quickly corrected. We are now seeing another major bull run for the food company. Although there is no company specific news at this time. The company said in December it had agreed to acquire assets from Gault Seafood. He also said that this agreement should be concluded during the first quarter of this year.

So while no news has been released detailing an update to this deal, it’s exciting to consider. Additionally, Diamond Equity Research is releasing an update, outlining the ins and outs of this deal with Gault and the company as a whole. So, with this major move today, we find that BSFC stock is highly speculative. But, whether it’s worth adding to your list of penny stocks or not is up to you.

Save Foods Inc. (NASDAQ: SVFD)

Another big winner of the day was Save Foods Inc., which managed to climb over 34% in early morning trading. With stock halted on a circuit breaker in the morning, we are currently seeing massive volume in SVFD stock.

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As with BSFC, there is no news pushing SVFD stock up at this time. However, many consider it a low-float game, which is likely the cause of the rise. Keep in mind that SVFD stock is very volatile, as we saw with its trading today. And with a drop of more than 50% in its value over the last year, it is clear that a lot of fluctuations are happening with SVFD shares right now. Whether that makes them a worthwhile addition to your penny stocks watchlist is up to you and your trading strategy.

Penny_Stocks_to_Watch_

ReTo Eco-Solutions Inc. (NASDAQ: RETO)

While RETO stock’s gain of around 3% in morning trading isn’t much compared to the other stocks on this list, RETO has soared almost 70% in the past five days. And, in the last month or so, that number has jumped to over 160%, which is no small feat. The main news with RETO came during the conclusion of a share acquisition agreement to acquire a stake in Yile IoT Technology Co. Ltd. through REIT Mingde.

“We are excited about the acquisition of REIT Mingde as we believe this transaction will allow us to integrate Yile IoT technologies into ReTo and accelerate the upgrade and growth of ReTo’s business. With the support of IoT technologies, ReTo strives to become a technology-driven service provider for the environmental protection and ecology industries, and to increase value for our shareholders.

ReTo CEO and Chairman Mr. Hengfang Li

This is great news for the company as the IoT market continues to heat up right now. So with that in mind, are RETO stocks worth buying or not?

Penny_Stocks_to_Watch_ReTo

What Penny Stocks are you looking at?

If you’re looking for the best penny stocks to buy in 2022, there are hundreds of options to choose from. While it can be difficult to find a few for your watchlist, with the right research at your fingertips, it can be much easier than previously imagined.

[Read More] Trading Penny Stocks? Main stock market news for January 20, 2022

Now, penny stocks trading is currently very volatile given the large number of events that impact the stock market. But, with high hopes surrounding the future, many expect it could improve in the weeks to come. With that in mind, what penny stocks are you looking at?


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