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If you’re a penny stock trader or investor, you likely look for the most active stocks in the category from time to time. After all, active stocks tend to present some of the largest opportunities in the sector.
Of course, it’s important to remember that trading or investing in penny stocks can be risky. So, you should only do so if you have a high-risk tolerance.
Nonetheless, there are several penny stocks on the move this morning. Here’s a rundown of the top five and what’s causing them to move:
Key Points :
- CN Energy Group and Tantech Holdings are climbing as traders trade.
- BriaCell Therapeutics is up on positive cancer trial data.
- FTC Solar is climbing as the result of a new agreement.
- Quhuo Limited is gaining thanks to a worker receiving an award.
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CN Energy Group Is a Trader’s Target
CN Energy Group (Nasdaq: CNEY) is flying in the market this morning. At the time of writing this article, the stock was up over 300%. Unfortunately, the company hasn’t issued any news in the last three months. So, it looks like today’s upward movement is the result of traders trading. Ultimately, when penny stocks start to see strong upward movement and volume, traders tend to dive in, sending volume and prices even higher. That seems to be what’s happening this morning - a traders’ frenzy.
So, what exactly does CN Energy Group do?
The company is a Chinese energy company. The company is known for its provision of wood-based activated carbon, biomass-generated energy, and more. The company even sells rubber products, paper products, and construction materials.
BriaCell Therapeutics Rockets On Positive Data
BriaCell Therapeutics (Nasdaq: BCTX) is a clinical-stage biotechnology company that’s focused on the development of cancer therapeutics. And investors are all over the stock this morning. In fact, its share price has more than doubled this morning.
So, what’s the big deal?
BriaCell Therapeutics announced positive data from a Phase 2 clinical trial known as Bria-IMT this morning. The study was focused on the treatment of patients with metastatic breast cancer using a combination of Bria-IMT (the company’s drug candidate) in combination with an immune checkpoint inhibitor.
The data released this morning was overwhelmingly positive. In general, patients with this condition have a 6.7 to 9.3 month overall survival rate. However, the overall survival rate in the study was 15.6 months - suggesting that the therapy just about doubled the survival rate for this patient population.
It’s also worth noting that there is an ongoing Phase 3 Bria-IMT study ongoing that is in a similar population. So, this data could suggest that the Phase 3 trial will produce similar results. Moreover, there have been no drug discontinuations to date. So, it’s not surprising to see that investors are pushing this stock up this morning.
FTC Solar Heads Up On New Agreement
FTC Solar (Nasdaq: FTCI) isn’t gaining in multiples this morning, but it is up over 30% - an impressive move for any stock. As the company’s name suggests, FTC Solar is engaged in the production and supply of solar systems. In particular, the company offers solar tracking technology, software, and engineering services.
So, what’s driving the movement in the stock this morning?
The company made an after-hours announcement yesterday surrounding a new agreement. According to the announcement, FTC Solar has been selected to supply 500 megawatts of its Voyager 2P solar tracker technology to Strata Clean Energy. If all goes well, the agreement could expand to over a gigawatt of volume in the three-year term. So, investors are excited about the fact that this agreement will generate meaningful revenue for the company.
Tantech Holdings Is Another Trader Target
Like CN Energy Group, Tantech Holdings is making a run for the top without releasing any news. This seems to be the result of traders making this penny stock a target. Tantech Holdings is a Chinese company that produces bamboo products for a wide range of industries, including energy, cooking, and cleaning. The company is also working on the development of electric vehicles.
Quhuo Limited Climbs On Worker Accomplishment
Finally, Quhuo Limited (Nasdaq: QH) is climbing in the market this morning, tool. The gains seem to follow news that the Henan Province has awarded Song Penghua, a rider for Quhuo Limited, for being a “model worker” in the province. This follows the recognition of a worker in Zhengzhou City last year. The company says these accolades “underscore the growing significance of new forms of employment in China’s economic and social development.”
In any case, investors are happy with the news. That can be seen by the more than 20% growth the stock has experienced this morning.
The Bottom Line
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