Penny stocks are great tools to make money in the stock market. While they don’t come without risk, there are plenty of ways to ensure you find the top names to watch. One of the first steps is looking for specific catalysts. These could be anything from unusual trading activity to more formal catalysts like corporate filings or news. Today we look at several trending stocks to watch premarket that have released big updates. As traders, it’s up to you to decide whether this news is something that has lasting potential or if it’s just a one-day move best suited for day traders.
Best Penny Stocks To Buy? Start With A Watch List
Here’s a list of penny stocks to watch after releasing big news to start the week:
- Clovis Oncology (NASDAQ: CLVS)
- Mullen Automotive (NASDAQ: MULN)
- Quoin Pharmaceuticals (NASDAQ: QNRX)
- Amarin Corp. (NASDAQ: AMRN)
Considering all of the action in the stock market today, there seems to be pent-up demand for risk-on assets. However, in light of recent economic developments, that demand remains a bit more muted. Nevertheless, daily trends are critical for day traders and swing traders alike when it comes to penny stocks. Let’s see what’s moving some of these cheap stocks today.
Penny Stocks To Watch: Clovis Oncology (NASDAQ: CLVS)
Last week Clovis Oncology saw a strong pop into the weekend. Part of the move may have been a lead-up to this month’s American Society of Clinical Oncology Meeting. Numerous biotech companies have and are still set for presentations at the conference. Clovis is on Monday’s list and presents Monday morning.
CLVS Stock News
This wasn’t the only thing driving attention to the penny stock. Clovis also announced that the data it presents today would be from its current Phase 3 ATHENA trial of its Rubraca. Accordingly, the company also released details that showed Rubraca could significantly improve survival compared to a placebo in women with ovarian cancer.
With more details today, CLVS could be one of the penny stocks to watch this week.
Mullen Automotive (NASDAQ: MULN)
One of the recently popular penny stocks among retail traders is EV maker Mullen Automotive. The company’s stock has seen its share of volatility in the stock market. However, the latest trends have become more bullish than bearish. That’s because of several contributing factors, including speculation from unusual options activity and milestone updates.
In particular, Mullen announced results from a recent solid-state polymer battery test. The data showed that Mullen’s battery exceeded expectations. Furthermore, management appeared confident that its battery could deliver over 600 miles of range at scale on a full charge. These results were robust enough to turn heads in light of current EV offerings from companies like Lucid and Tesla.
MULN Stock News
Why is MULN stock moving today? Once again, the company has released a big update. Mullen reported that the…