The stock market is on a tear to start the year. Market sentiment is riding high, and that’s an excellent set up for speculative investments like penny stocks. Some of these cheap stocks are up big since the start of the year. Traders are scouring the market for a chance at above-average returns, and many of the best penny stocks will benefit from the bullish mood on Wall Street.
As the US stock market continues to rise, several penny stocks are also rallying. These are the best penny stocks for traders to buy today.
Stock Market News
President Donald Trump is expected to sign a phase-one trade deal with Chinese trade representatives today in Washington. On Monday, the US announced that it would drop China from its currency manipulator list. It was perhaps the last step towards securing the coveted phase-one deal.
Depending on the statements from Trump and the Chinese, the event could create volatility in markets. Traders want to be reassured that the Chinese will hold up to their end of the deal. Stocks could respond positively as well, but it will all depend on the statements and specifics surrounding the phase-one deal.
Best Penny Stocks To Buy Today
Super League Gaming Inc. (SLGG)
Super League Gaming is one of the best performing penny stocks of the day after rising by more than 40% on Tuesday’s trading market. Overall, the share price of the company is up by roughly 80% over the past 24 hours.
The rise in the stock price could be due to the company’s recent partnership with Wanda Cinema Games. The deal, which was announced on Monday, January 13, will present live, competitive gaming experiences to more than 700 Wanda theatres in several cities across China.
This deal will help Super League expand its operations into China, a very lucrative gaming market. This recent turn of events could help Super League Gaming generate significant short-term gains.
RTI Surgical Holdings Inc. (RTIX)
This Michigan-based medical technology company was formerly known as Pioneer Surgical Technology. The stock was one of the top performers yesterday. It closed the day with 63% gains.
The huge rally came after news broke that RTI is selling its OEM business to Montagu Private Equity LLP for around $490 million. The deal is expected to be completed in the first half of the year.
The OEM business will induce a massive influx of cash into the company and provide much-needed capital to fund operations and investments.
Transenterix Inc. (TRXC)
Transenterix opened yesterday’s trading sessions with a sharp, 46% rally, but the bump didn’t hold. It closed the day with relatively modest 7.48% gains. Transenterix makes technology that digitizes the interface between the surgeon and the patient to better facilitate minimally invasive surgery.
Share prices began their rallying after the company announced the submission of 510(k) to the FDA for the first machine vision system for robotic surgery. The Intelligent Surgical Unit will have the ability to visualize the surgical area, guide the surgeon, and record important information.
Inpixon was one of Tuesday’s top-gaining stocks. The small software company soared 54% by the session’s close. The rally began after news broke that Canada approved the company’s patent application for its indoor intelligence system. Now, the door is open for Inpixon to expand its operations into Canada.
The firm’s patented software helps organizations secure their indoor networks from rogue devices, and it can even disable phones in no-phone zones like prisons and other high-security areas. As IoT tech becomes more prevalent, Inpixon will likely benefit from the high demand for this type of technology.
The patent covers technology that tracks, locates, and manages wireless devices. Operators can use the platform to identify unsanctioned devices, locate them, and disable them. Approved devices can also be identified and tracked using the system, and operators can manage network interactions for these devices as well.
Inpixon’s technology has significant long-term promise. Tuesday’s spike was encouraging, but it could only be the beginning for this innovative company. As long as the firm continues to execute, there could be a bright future ahead for Inpixon.
Best Penny Stocks: Closing Thoughts
Penny stocks continue to deliver excellent gains to investors as the US stock market performs well. If you’re ready to know more about the best penny stocks, you should sign up for Stock Dork Alerts.
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