Premarket Is Hot For These Penny Stocks

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Wednesday, November 16, 2022

Sometimes stocks will start moving around during a session’s premarket hours for no real reason at all. While futures for the S&P 500 are in the red in the minutes leading up to the opening bell, a few interesting penny stocks are currently bid up in anticipation of the regular session.

Fast Radius Inc. (Nasdaq:FSRD) is currently bid up at $0.151/share (+48.33% implied open for sellers) at the time of writing. This of course is coming off of no significant headline, just seems like traders are anticipating a big day!

Background: Fast Radius Inc is a cloud manufacturing and digital supply chain company. The Cloud Manufacturing Platform from Fast Radius integrates design, production, and fulfillment operations through a common digital infrastructure to make manufacturing easier, more accessible, and more sustainable. The company's manufacturing capabilities include Additive Manufacturing, CNC Machining, Injection Molding, and Urethane Casting.

Another stock that is being shown some love by traders leading up to the bell is Esports Entertainment Group Inc. (Nasdaq:GMBL). This micro cap is currently bid up at $0.1659/share (+32.51% implied open for sellers). This should be a fun session to watch!

Background: Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company's principal business operations include design, development, and test wagering systems. Its online gaming is divided into three verticals esports entertainment, esports wagering, and iGaming & traditional sports betting. Its geographical segments include Antigua, Malta, Curacao, and the United States.

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