3 Top Penny Stocks For Your Mid-October Watchlist
Blue chips and penny stocks are in highly volatile waters right now. With the Dow Jones Industrial Average shedding around 200 points on Wednesday, there are several things that all investors should be watching right now. For one, we are in the middle of earnings season.
Despite strong results, shares of JPMorgan Chase & Co (NYSE: JPM)., fell by roughly 2% at midday. Additionally, shares of Apple Inc. (NASDAQ: AAPL), were down by around 1.5% following the recent trend of blue-chip tech stocks. And with inflation nearing high levels (5.4% YoY on the consumer price index), many investors are taking a more conservative approach to the stock market right now. And while blue-chip investors may not be used to these large fluctuations, those who invest in penny stocks are.
Stocks under $5 are known for being quite volatile, and this is something that investors work to take advantage of. Large price swings can often result in large gains if investors use a proper trading strategy. However, without the right information on hand, big movements can also lead to big losses. So, consider everything that is going on in the market, and attempt to find an advantage. With that in mind, let’s take a look at three top penny stocks that are moving in today’s session.
3 Penny Stocks to Watch in Mid-October 2021
9 Meters Biopharma Inc. (NASDAQ: NMTR)
9 Meters Biopharma Inc. is a biotech company that creates products for those with rare and unmet needs in gastroenterology. Currently, it is developing Larazotide, which is in Phase 3 clinical trial to treat celiac disease. 9 Meters is also developing NM-002 which is in Phase 2 clinical trial to treat SBS. Additionally, the company has NM-102 which is a small molecule peptide.
On September 27th, the company announced a partnership with Mend Hunger. Mend Hunger is a non-profit gluten-free food pantry organization. This partnership will help Mend Hunger’s Pantry Direct program to fulfill gluten-free hunger relief box requests to U.S. families. The program aims to help people living with conditions that require them to have a gluten-free diet, such as celiac disease.
“We believe this strategic alignment will strengthen our ability to serve those who are struggling with food insecurity and health-related issues. With millions of Americans out of work and struggling to put food on the table, Mend Hunger is more determined than ever to get gluten-free food into the hands of those who need it.”
Executive Director of Mend Hunger, Aleksa Hacker
In the past few trading sessions, the volume for NMTR stock has been much higher than its average. With this in mind, will NMTR be on your list of penny stocks to watch?
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