Are These Reddit Penny Stocks Worth Watching?
Finding the best Reddit penny stocks to buy is a challenge. But, with hundreds of penny stocks discussed across Reddit daily, the options are aplenty. As with any watchlist, investors should be sure to do the proper research before investing.
This means finding out financials, future plans, and any upcoming announcements that the company may make. Remember that penny stocks are extremely volatile. And, if we add in the layer of Reddit, we see that they can become even more likely to fluctuate. Rather than serve to scare you out of investing, this should inform your trading strategy.
In 2021, there are a few things that investors should keep track of. First and foremost is the trajectory of the pandemic. With the Delta variant taking hold, we are witnessing large case number increases around the world. This has reignited fears of earlier pandemic waves, and resulted in the large S&P 500 crash witnessed on Monday, July 19th.
Additionally, many investors fear that we could be headed toward heightened inflation in the coming months. This is likely considering the large amount of currency printed in the past year and the equally large amount of stimulus given out during that time as well. So, with all of this in mind, let’s take a look at three Reddit penny stocks making big gains today.
3 Reddit Penny Stocks to Watch Right Now
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures Inc. is a penny stock that shot up substantially in value on July 21st. This company manufactures and sells various products including electronics, toys, home items, and more. Vinco markets these products to distributors and retailers around the world.
In addition to all of this, it also provides personal protective equipment to hospitals and government agencies. It seems as though Vinco goes where the strongest demand is. During the pandemic, the demand for its home goods shot up tremendously as more people were at home than in many years prior. And as a result, its latest financial report was much better than expected.
On June 24th, the company announced the planned “spin out” or Emmersive Entertainment. This will make Emmersive a fully reporting publicly traded entity. The resulting company will be led by the current Chief Strategy Officer of Vinco Ventures, Brian McFadden. This transaction is expected to be completed in the third quarter of 2021.
“This is a great opportunity for the shareholders of record on the effective date. The technology that Emmersive continues to develop is I believe industry-changing and we felt the best way to ensure the shareholders receive that value is by splitting the two entities and providing the shareholders the proverbial ‘two bites of the apple.’”The CEO of Vinco Ventures, Christopher Ferguson
On July 21st, BBIG stock increased by more than 18% in the market. Its volume also was much higher than its average. BBIG stock is frequently mentioned on social media such as Reddit and Twitter as well, making it a highly trending penny stock. With this in mind, will you add BBIG to your list of penny stocks to watch?
Atossa Therapeutics Inc. (NASDAQ: ATOS)
Atossa Therapeutics Inc. is a biotech penny stock that is performing well today alongside several other biotech companies. ATOS is currently in development of AT-301, which is a drug candidate for patients with COVID-19. It also is developing AT-H201, which is for improving lung function in COVID patients.
Apart from its COVID developments, Atossa creates medicines for cancer treatment. Its main product is Endoxifen, which is in Phase II clinical trials to treat and prevent breast cancer. However, its work on Covid treatments is one of the primary reasons that the company has seen so much positive sentiment in the past few weeks. On July 7th, Atossa received regulatory approval to open a clinical study of the above-mentioned AT-H201 in Australia.
“The COVID-19 pandemic continues to be an urgent health crisis with many regions reporting low vaccination rates combined with new SARS-CoV-2 variants proving more infectious and more deadly. If the initial parts of the study are successful we will study the efficacy of our proprietary AT-H201 on moderately ill COVID-19 patients who can be treated via a nebulizer.”The CEO and President of Atossa, Steven Quay
The expansion of the company’s operations in places like Australia should help to vastly broaden its market reach. The company is also included in the Russell 2000 and Russell 3000 indexes in the past month or so, which should help to make it even more popular. With a lot in its pipeline, will Atossa be on your penny stocks watchlist for the month of July?
Cinedigm Corp. (NASDAQ: CIDM)
This next penny stock, Cinedigm Corp., is a company that we have mentioned frequently in the past few months. The reason for its frequent discussion is related to its increases in the market and the amount that it is trending among retail traders. This company distributes movies, television, and other forms of digital content.
The company’s library of distribution rights is licensed and provided to other channels. Some of the companies that Cinedigm distributes its products to are NFL, Scholastic, NHL, Hallmark, Televisa, among many others. The company also collaborates with other producers to distribute content to platforms like Apple, Amazon Prime, Netflix, and much more. On July 15th, Cinedigm announced $3.5 million in debt reduction with the final payoff of a non-recourse loan from Prospect Capital Corporation.
“With this final payoff of our non-recourse loan from Prospect, we are now completely debt-free. We reduced our debt balance to zero from almost $49 Million at the end of the last fiscal year. Our strong debt-free balance sheet sets us up to support our rapidly growing streaming business and accretive acquisition roll-up strategy.”The President and COO of Cinedigm, Gary Loffredo
CIDM stock is up 6% on the day of July 21st. After this recent uptick, will you add CIDM to your list of penny stocks to watch?
Are These Reddit Penny Stocks Worth It?
Finding the best Reddit penny stocks to watch is all about understanding where the value is. This can be done by thoroughly researching what the trends are in the market and how to use them to your advantage.
With so much going on in the stock market, it can seem like a daunting task to stay ahead and avoid any potential losses. Considering this, are these Reddit penny stocks worth it or not?