Oct. 18, 2021, 9:50 a.m. EDT

Penny Stocks To Watch Today As Buying Drives ADMP, IO, LPCN & Others

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Oct 18, 2021 (Penny Stocks via COMTEX) -- Penny Stocks Jump Early On Monday

Call them penny stocks, small-cap stocks, cheap stocks, etc. However you identify them, the same result is apparent. For retail traders, capitalizing on quick moves in the stock market is the goal, and what penny stocks offer is one of the clear solutions to reaching that goal. In the stock market today, early momentum has already triggered strong moves in the price for several penny stocks as buyers stepped in before the opening bell.

I'm sure if you're monitoring the premarket moves, there are several of these penny stocks prompting some attention for different reasons. In today's article, we'll look at 5 of these early risers and discuss what's moving before the bell on Monday. After that, you can decide if they're the best penny stocks to buy now or if the move is already over.

Penny Stocks To Buy [or avoid]

1. Adamis Pharmaceuticals Corporation /zigman2/quotes/205166351/composite ADMP -1.40%

This morning, one of the big movers in the stock market - at least among small-cap stocks - is Adamis Pharmaceuticals. Most of this year, ADMP stock has upheld a relatively bullish uptrend. There've been periodic spikes during this time. However, since the start of the year, shares are up roughly 100% so far. The company specializes in biopharmaceutical development. One of its candidates, Tempol, is even in development for treating COVID-19 patients currently in a Phase 2/3 trial. But this isn't why the spotlight is on ADMP stock today.

Earlier this morning, the company released some long-awaited information on another one of its candidates, ZIMHI. Adamis reported that the FDA approved the treatment for use in opioid overdose. With this, commercialization efforts can begin, marking the next page in Adamis' growth narrative.

2. ION Geophysical Corporation

Another one of the penny stocks moving in the stock market today is ION Geophysical. The data technology company focuses on the energy and maritime industries. In particular, its platform allows clients to analyze, track, and optimize everything from logistics to carbon emissions efficiencies at global ports. Though it's been a relatively flat quarter for IO stock, that hasn't seemed to have stopped traders from scrambling for shares early Monday morning.

Another instance of headlines driving momentum, ION reported preliminary 3rd quarter results. The company sees revenues of $44-$45 million, which equates to an increase of roughly 125%, sequentially. ION also said it expects "significant sequential improvement" in third-quarter 2021 Adjusted EBITDA of $21 - $22 million.

Read more:10 Top Penny Stocks To Watch This Week With Potential Biotech Catalysts

In a statement, Chris Usher, ION's President, and CEO explained, "While both segments of our business demonstrated stronger sales, the increase is primarily attributable to execution of our 3D strategy…More than half of the revenue generated this quarter stemmed from 3D data sales, both from the two new acquisition campaigns in the North Sea and our immense, artfully remastered reimaging program offshore Brazil. We are accelerating efforts to secure large-scale multi-million-dollar maritime digitalization projects for port management, maritime monitoring, and energy logistics while deferring longer-wavelength defense and port security ambitions."

3. Lipocine Inc. /zigman2/quotes/202742746/composite LPCN +1.60%

US : U.S.: Nasdaq
$ 0.40
-0.0057 -1.40%
Volume: 134,460
May 25, 2022 1:18p
P/E Ratio
Dividend Yield
Market Cap
$60.85 million
Rev. per Employee
US : U.S.: Nasdaq
$ 0.88
+0.01 +1.60%
Volume: 34,093
May 25, 2022 1:07p
P/E Ratio
Dividend Yield
Market Cap
$76.91 million
Rev. per Employee
1 2
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