What’s Going On In The Stock Market Today.

This stock market game is a tough one to play this year if you’re not prepared. Whether you’re trading penny stocks or Apple (NASDAQ:AAPL), volatility is high, which means knowing how to pivot.

In the stock market today, things already got off to a rocky start thanks to better-than-expected ADP September job growth. Employment data has been one of the major sticking points for investors speculating on the Federal Reserve’s next move regarding monetary policy & rate hikes.

Nevertheless, this isn’t to say that all stocks are heading lower today. There are plenty of cheap stocks to watch, making new intra-day highs. The important part for you as a trader is knowing how to trade the trend. A slower-moving stock isn’t a good fit if you’re day trading.

Then again, if you’re investing in penny stocks, the one-day breakouts aren’t suited for you either. This article looks at some of the most popular penny stocks today. They are moving for different reasons, and some may also have future events to be aware of if you’re looking at the longer-term time frames.

Penny Stocks To Buy For Under $4

  1. iMedia Brands Inc. (NASDAQ:IMBI)
  2. Pedevco Corp. (NYSEAMERICAN:PED)
  3. Roivant Sciences (NASDAQ:ROIV)
  4. Snow Lake Resources Ltd. (NASDAQ:LITM)

When finding the best penny stocks to buy, a good place to begin is with a watch list. Here is a quick list of penny stocks that can be purchased for under $4 and may be top names to watch in the stock market today.

Penny Stocks To Watch 1. iMedia Brands Inc. (NASDAQ:IMBI)

best penny stocks to buy now iMedia Brands IMBI stock chart

Thinly traded iMedia Brands has seen a spike in trading activity over the last few months. Overall, this trend has been more bearish than bullish, with IMBI stock pulling back significantly from August 19th. The latest round of earnings was one of the biggest negative catalysts behind the drop. The company reported a loss of $14.3 million, earnings per share missed analyst estimates, and the company cut its sales outlook.

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So what’s going on with IMBI stock now that it’s trading below $1? Late last month, the company expanded its board to include Richard French Jr., who has helmed RNN Media Group since 1997, an independent broadcast group of stations in Philadelphia, Washington, DC, and Boston.

– Best Penny Stocks to Buy as the Market Turns Bullish

Landel Hobbs, the chairperson of Media, said in a September update, “It was about a year ago that ShopHQ signed its affiliation agreement with RNN and when Dick began to provide insight to us on the ever-changing television distribution landscape, from opportunities in broadcast to cable and from over-the-air to over-the-top. He is also a successful entrepreneur and participated in our recent equity raise. We are excited to have him join us and immediately impact our growth strategy.”

ShopHQ is iMedia’s flagship nationally distributed, live lifestyle television network.

2. Pedevco Corp. (NYSEAMERICAN:PED)

best penny stocks to buy now Pedevco Corp. PED stock chart

The energy company Pedevco Corp. has also seen its share price climb over the last few days. After reaching 52-week lows of $0.90 last month, PED stock has been on the move. While the energy sector has been heating up overall, Pedevco is in the spotlight for a little over 1 million other reasons.

That’s because CEO and 10% owner Simon Kukes has been amassing a larger position in the company. As of the most recently filed Form 4, Kukes’ direct holdings are just over 5 million. Indirectly through his SK Energy LLC, the fund has more than 51.79 million. He has been a net buyer of PED stock throughout 2022.

In the company’s last earnings update, Pedevco reported strong sales growth and earnings per share of $0.04. It produced 155% more revenue this past Q2 than the previous year’s period. Meanwhile, operating income for the quarter surged 600% during the same period.

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J. Douglas Schick, President of the Company, explained, “We are pleased with our strong Q2 2022 results. We not only significantly increased production, but we also delivered $0.04 in earnings per share and generated Adjusted EBITDA of $6.0 million in the quarter. Looking ahead, we plan to leverage our ~$25 million of cash and zero debt as we evaluate additional drilling and growth opportunities in our Permian Basin and D-J Basin assets, all in our continued effort to grow production, revenue and profit for the benefit of our shareholders.”

Thanks to the strength in the energy market and bullish sentiment from significant insider buying, PED stock could be on the watch list this quarter.

3. Roivant Sciences (NASDAQ:ROIV)

best penny stocks to buy now Roivant Sciences ROIV stock chart

A much steadier mover in the stock market recently is Roivant. Shares have slowly increased over the last few weeks as the company looks to raise $1 billion. Roivant Sciences submitted a filing for a mixed shelf offering for the ten-figure sum as the biotechnology company aims to continue advancing its pipeline.

– What Happened In The Stock Market Today & 4 Penny Stocks To Watch

As CEO Matt Gline explained in an August update, “The recent positive topline results from Torii Pharmaceutical and Japan Tobacco’s study of tapinarof in atopic dermatitis underscore our conviction in VTAMA’s potential in AD as our own Phase 3 trials progress. We are also pleased with recent execution across the rest of our pipeline, including the continued progress in our pivotal trials at Immunovant and Priovant. We are proud to advance the development of these important medicines for patients.”

Considering several potential milestones to look for during the year’s second half, ROIV stock could be on the radar. These include initiating two trials to evaluate the company’s batoclimab for thyroid eye disease and announcing two new indications for the platform, with a third expected to begin as a trial later this year as well.

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4. Snow Lake Resources Ltd. (NASDAQ:LITM)

best penny stocks to buy now Snow Lake Resources Ltd LITM stock chart

EV stocks are getting recharged thanks to attention on renewables. Snow Lake Resources is a raw materials supplier to this market, offering lithium to North American EV and battery markets. According to the company, its Thompson Brothers Lithium Project covers over 55,000 acres and has only been 1% explored. Furthermore, Snow Lake has explained that the project contains an identified-to0date 11.1 million metric tons indicated and inferred resource at 1% Li2O.

LITM stock has been bouncing back for days thanks to its canceled public offering. The lithium miner scrapped a capital raise that would have added 10 million shares to the mix. This week, Snow Lake announced that it hosted LG Energy Solutions to look into a potential domestic supply chain for the North American electric vehicle market. The two are collaborating to see the delivery of one of Canada’s first lithium hydroxide processing plants in Manitoba.

“The visit was a great success, and there is an exceptional opportunity here in Manitoba to establish a strong domestic supply chain for the US automobile industry. Following our exciting collaboration with world-leading LG Energy Solution, we are confident that our rock to road battery supply chain will help the electric vehicle market in North America,” explained CEO Philip Gross.

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The post Best Penny Stocks To Buy Now? 4 Under $4 To Watch Today appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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