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If you’re looking for some hot penny stocks today, you might be well-suited by looking at biotech stocks.

Many of these are heading higher thanks to a focus on COVID treatments as well as traditional things like pain management and immunotherapy.

We’ve also got some medical devices and testing names making moves in the stock market today.

After the massive move that electric vehicle stocks made last week has given way to more attention on penny stocks in general. The main reason for this is that so many of these massive moves came from companies that actually were trading as penny stocks earlier this month.

While that trend is still very evident right now, so are other sectors. Compared to things like the S&P, the biotech and healthcare sectors are holdings up relatively well on Wednesday. Both the IBB and XLV ETFs tracking biotech and healthcare, respectively, are positive on the day. Meanwhile, the SPY is red during the morning session.

Thanks to news earlier this month from the likes of Moderna and Pfizer, investors have grown optimistic about the future of the market. The potential that a proven vaccine might have for the economy and the market is what traders are counting on. This has also translated to a bullish market trend overall.