When investing in tech penny stocks, it’s important to understand that these companies rely on news and events to drive their stock prices. This is why staying up-to-date on the latest news in the tech industry is a crucial part of becoming a good investor
In this article, we’re bringing you our 3 picks from today’s top tech penny stock gainers; Omeros Corporation (NASDAQ: OMER), Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) and Get alerts on the best tech penny stocks to trade & make money in your sleep!
TECH PENNY STOCK #1: OMER
As a clinical-stage biopharma company, Omeros Corporation (NASDAQ: OMER) is committed to discovering, developing, and commercializing small-molecule and protein therapeutics for large-market and orphan indications targeting inflammation and immunologic diseases. Ever since the company reported impressive Q1 2022 financial results, it’s been gaining traction from investors.
For the quarter, the company reported a $6.6 million increase in its net sales compared to the prior-year quarter. It reported a net loss of $33 million in the current quarter – including $4.2 million of non-cash expenses – compared to a net loss of $35.1 million in the prior-year quarter.
In light of this and the company’s continuous efforts, investors are bullish OMER is showing major potential and could see another run-up soon as more catalysts emerge.
$OMER Was able to take $4.50 nicely and push towards $5 after hours pic.twitter.com/x43SV91Kq7
— Matterhorn Trading (@TradeMatterhorn) July 1, 2022
Currently, OMER is trading at $4.68 near its resistance of 4.69. The stock shows support at 2.67 and 1.98. Accumulation is on a steep run-up and the MACD is bullish to the upside. Similarly, the RSI is at 85 and shows no signs of a cool-off – indicating the stock is extremely overbought at the moment.
These indicators clearly demonstrate that OMER is extremely overbought – even after its recent run. For this reason, one could wait for the stock to trade near its support before securing a good position.
TECH PENNY STOCK #2: FFIE
California-based global shared intelligent electric mobility ecosystem company – Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) recently announced that it is participating in the Deutsche Bank Global Auto Industry Conference in Newyork.
Weeks before that, the company had selected Cerence’s AI-powered text-to-speech (TTS) technology to enable natural, human-like communication for the in-car assistant in its FF 91 ultra-luxury electric vehicle – which is set to start production in Q3 2022. Cerence’s track record is built on more than 20 years of knowledge and more than 400 million cars shipped with Cerence technology.
In light of this, Hong Rao – VP of IAI – is bullish on this step saying:
“We believe the future of human-vehicle interaction is moving towards a voice-first experience, and we’re thrilled to have Cerence as part of our global supplier network to help with our communication enhancing technology.”
The company has recently updated shareholders on its plans to launch the FF 91 Futurist Car soon and that they are already available for preorder.
Cruise from coast to coast and stay connected on the go! With a built in mobile theater and office the FF 91 Futurist is perfect for those long road trips. Where would you take the FF 91 Futurist? Learn more and preorder yours at https://t.co/6ab0K0l0kS #FaradayFuture #FF91 $FFIE pic.twitter.com/1grNnp37Xs
— Faraday Future (@FaradayFuture) June 29, 2022
Currently trading at its resistance of $3.52, FFIE shows a support at 2.44 and 2.33. Accumulation continues to trend upwards despite a slight dip recently. On the same trend, the RSI is at 83 and is on an uptrend. Meanwhile, the MACD is bullish and shows no signs of any incoming crossover.
Get alerts on the best entry points for penny stocks that trade on NASDAQ and NYSE.
TECH PENNY STOCK #3: ACCD
Accolade, Inc. (NASDAQ: ACCD) provides millions of people and their families with an exceptional healthcare experience that is personal, data-driven and value-based to help every person live their healthiest life.
Ever since the outbreak of the COVID-19 virus, the healthcare consumer has never been more in need of true Personalized Healthcare. Capitalizing on this need, the company has been seeing major growth as evidenced by its latest financial results for the fiscal first quarter ended May 31, 2022.
The company reported revenue growth between $355 million and $365 million – compared to an average of $82 million and $83.5 million for the quarter ending in August 2021. Additionally, it saw an adjusted EBITDA between $35 million and $40 million – compared to an adjusted EBITDA between $(18) million and $(20) million in the year-ago period.
Steve Barnes – Accolade’s CFO – attributes this growth to “the two key drivers in the company’s financial model: customer satisfaction to drive revenue performance, and effective expense management to deliver against bottom-line goals.”
Following its run-up, ACCD is now trading at its resistance of $9.56. The stock shows a support at 7.68 and another at 6.48. Accumulation has been following a similar trend but is recently showing a more steep uptick. Similarly, the MACD is on a bullish crossover and the RSI is at 75 – indicating the stock is overbought.
BOTTOM LINE
No doubt, tech penny stocks could be some of the most profitable stocks to trade. As the companies release new updates regarding their projects as well as new developments, tech stocks continue to reach new highs daily. Be the first to know about stocks before they blow up. With major catalysts on the way, these three tech penny stocks could show major returns in the near future.
As always, good luck to all (except the shorts)!
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Disclosure: We have no business relationship with any company whose stock is mentioned in this video. Viral Stocks is not an investment advisor and this video does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This video is not a solicitation or recommendation to buy, sell, or hold securities. This video is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
