Are These Hot Reddit Penny Stocks on Your June Watchlist?
Most penny stock investors are ready to bid adieu to May. This was not a memorable month for any investor looking to make gains in the stock market. Now, it’s worth noting that penny stocks do have a natural ebb and flow that they adhere to.
And with the massive bullish moves we’ve seen in the past year, it only makes sense that a bear run would occur. So, with May as the sacrificial lamb for a market correction, hopefully, June can be much better. With a new month comes a clean slate, and a new opportunity to find penny stocks to buy.
[Read More] 3 Hot Penny Stocks To Buy With Analysts Expecting Up To 383%Additionally, we have to account for the effect of Reddit penny stocks. These highly speculative stocks are discussed frequently on the social media platform for a variety of reasons.
And while it may seem random, that is because there are hundreds of trading communities all discussing different topics and companies. For this reason, there are also hundreds of penny stocks on Reddit that investors should know about.
One thing to keep in mind is that when a penny stock is listed on Reddit, it often can be more speculative than usual. Additionally, penny stocks are already known to be highly speculative, so this adds an even greater layer of price fluctuation potential. Considering all of this, here are five Reddit penny stocks to watch in June 2021.
5 Reddit Penny Stocks to Watch in June
- To see 6-10 go to Hot Reddit Penny Stocks to Buy? 10 That You Should Know About
- To see 11-15 go to Best Penny Stocks to Buy Right Now? 15 To Watch In July
- Globalstar Inc. (NYSE: GSAT)
- U.S. Well Services Inc. (NASDAQ: USWS)
- AdiTx Therapeutics Inc. (NASDAQ: ADTX)
- Luokung Technology Corp. (NASDAQ: LKCO)
- New Gold Inc. (NYSE: NGD)
1. Globalstar Inc. (NYSE: GSAT)
Tech penny stocks have been in focus recently, and Globalstar Inc. has seen significant progress in the market. Globalstar is a mobile satellite services-based communications company. It offers mobile voice and data communication services, and equipment.
It also sells products under the SPOT name with offerings such as satellite GPS messengers used for tracking, emergency location, anti-theft products, and more.
In early May, Globalstar released its first-quarter results for 2021. CEO Dave Kagan said, “We are pleased to see recent signs of recovery in our Commercial IoT sales channel with both service and equipment revenue higher than pre-pandemic levels in the first quarter of 2020. We expected to return to pre-COVID sales levels by the second half of this year and that expectation proved to be conservative.”
The company did experience a revenue decline of 16% in its latest report, due to the timing of engineering service revenue and the pandemic. This loss was offset by an increase of subscriber equipment sales that caused higher revenue to balance it out.
Since these financial results were released, GSAT stock has increased in value substantially. This company was at under $0.35 a share when 2021 started. Now, GSAT is at $1.37 a share as of May 25th. With all of this in mind, will GSAT make your list of penny stocks to watch?
2. U.S. Well Services Inc. (NASDAQ: USWS)
U.S. Well Services Inc. is an ancillary energy penny stock based in the United States. Its oilfield services division provides hydraulic fracturing services to the oil and natural gas exploration and production market. Oil and gas stocks have been performing well recently, which could be the reason that USWS stock is increasing in bullish interest.
[Read More] Best Penny Stocks for Your Monday Watchlist? Check These 3 OutBut this is not the only reason for USWS stock’s recent increase in price. On May 24th the company announced that it is committed to becoming an all-electric hydraulic fracturing services provider by the end of the fourth quarter of 2021. This would make the company the first publicly traded pure-play electric completions services provider.
“U.S. Well Services has believed in the superiority of electric technology since our first Clean Fleet® was deployed in 2014. Today, we are beginning to realize our vision of going all-electric, reducing a significant amount of our outstanding debt, and streamlining our focus to become the new market leader in our industry.”
President and CEO Joel Broussard
After this announcement was released, shares of USWS stock increased by about 18% during the trading day. One month ago this penny stock was under $0.75 per share. Now USWS stock is at more than $1.10 per share as of May 25th. The company has seen significant progress over the course of that period. So will you be adding USWS to your penny stock watchlist before June arrives?
3. ADiTx Therapeutics Inc. (NASDAQ: ADTX)
ADiTx Therapeutics Inc. is a biotech penny stock that develops technologies to improve the health of the immune system. It does this through immune reprogramming and monitoring. Its AditxtScore product lets people understand, manage, and monitor their immune profiles to understand attacks on or by the immune system.
The company has recently caught the eyes of investors with its COVID-19 related data. On May 6th it announced that it had signed a channel partner agreement with Meridian HSN to make AditxtScore for COVID-19 available to all of its healthcare providers. This technology allows individuals to see comprehensive and personalized COVID-19 immune response data, to make fact-based decisions about their exposure risk.
“While COVID-19 vaccines will be critical tools for an end to the pandemic, monitoring the immune system’s response is key to understanding a person’s level of protective immunity.”
Co-Founder and CEO of Aditxt, Amro Albanna
The company’s AditxtScore for COVID-19 will be used in Meridian HSN’s Mobile COVID-19 antibody testing. As a result, shares are up more than 11% on May 25th. While this may be due to the overall bullishness surrounding biotech right now, it could be individual to ADTX. Considering this, will you be adding ADTX stock to your June watchlist?
4. Luokung Technology Corp. (NASDAQ: LKCO)
Another penny stock to watch that has caught a lot of market attention is Luokung Technology Corp. Luokung Technology provides location-based services and mobile apps for long-distance travelers in China. Its mobile app is a content and service distribution platform providing these offerings to a large range of consumers and businesses. It also offers software development kits or SDKs.
On May 14th, the company announced the filing of an annual report on Form 20-F for the year ended December 31st, 2020. LKCO stock has increased by more than 14% since this form was filed.
Recently LKCO shares were to be halted by the NASDAQ due to it not meeting the minimum bid requirement. However, this has since been canceled as shares are pushing beyond the $1 mark. This could also be a contributing factor to LKCO stock performing well at the moment.
[Read More] 5 Penny Stocks Analysts Say To Buy With Targets Up To 219% Right NowLuokung shares will continue being publicly traded as its shares sit at around $1.33 as of May 25th alongside an 11.76% gain for the day. Its volume is right around its average as well. It seems like investors see a lot of potential in the company after this favorable ruling about LKCO shares and its alternative business model. With this in mind, will LKCO make it onto your list of penny stocks to watch?
5. New Gold Inc. (NYSE: NGD)
New Gold Inc. is a mining penny stock that operates and develops a variety of unique mineral properties. The company searches for silver and copper deposits in addition to gold. New Gold owns 100% interest in the Rainy River gold and silver mine in Canada, New Afton gold and copper mine in Canada, the Blackwater gold-silver project in Canada, and the Cerro San Pedro gold-silver mine in Mexico.
There are a few reasons that New Gold is performing well in the market. First of all, gold itself is on its way to around $1,900 per ounce for the first time in a few months. Many thought gold prices would not see a price increase to above $1,800 per ounce throughout this economic recovery.
Yet gold, as it sits, is at $1,899 per ounce and seems like it could break past the $1,900 per ounce mark any day now. This would prove that the metal could have future momentum, and remains a solid store of wealth for investors and instructions alike.
In terms of company updates, on May 25th New Gold received the New Afton B3 Mines Act Permit. This will allow mining of the B3 zone by the Ministry of Energy, Mines, and Low Carbon Innovation.
President and CEO Renaud Adams said, “With the receipt of the B3 permit, ore extraction activities will begin this quarter and ramp up over the year. C-Zone development continues to advance with C-Zone extraction expected to begin in the second half of 2023.” With all of this information in mind, will you add NGD stock to your watchlist?
Which Penny Stocks Will You Add to Your June Watchlist?
With May almost over, investors are working on creating a list of penny stocks to buy in June. We should remember to take into account the various factors that are impacting the market right now. This includes everything from the pandemic to fears of inflation and more.
[Read More] EV Penny Stocks Make a Comeback, Here’s 3 Under $4 to WatchBut, at the end of the day, making a watchlist is all about your investing style. Because of this, identifying your risk tolerance will always be key to meeting your investment goals. With all of this in mind, which penny stocks will you add to your June watchlist?
- To see 6-10 go to Hot Reddit Penny Stocks to Buy? 10 That You Should Know About
- To see 11-15 go to Best Penny Stocks to Buy Right Now? 15 To Watch In July
