These 9 Penny Stocks Are on Many Investors Watchlists Right Now
Finding penny stocks on Reddit has become a favored pastime for all types of investors. While simply browsing the social media site for Reddit penny stocks is not enough, making a watchlist with small-caps talked about often, can be a great strategy. As always, use your research before putting in any buy orders. This way, you can feel confident in the investment rather than going in blindly simply due to it being a trending penny stock.
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And in 2021, there are plenty of factors that can impact the trajectory of the entire list of penny stocks to watch. It’s important to consider that penny stocks mentioned on Reddit, Twitter, or other social media sites tend to be some of the most volatile out there.
This can be a good thing or a bad thing depending on your investing style. But, understanding what type of trader you are, will help to avoid any unwanted fluctuations in your portfolio. With this in mind, let’s take a look at nine top Reddit penny stocks for your Summer 2021 watchlist.
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4 Penny Stocks to Watch This Summer
- Staffing 360 Solutions Inc. (NASDAQ: STAF)
- Ocean Power Technologies Inc. (NYSE: OPTT)
- Senseonics Holdings Inc. (NYSE: SENS)
- Harmony Gold Mining Company Limited (NYSE: HMY)
Staffing 360 Solutions Inc. (NASDAQ: STAF)
Staffing 360 Solutions Inc. is an industry-related penny stock that has been going up in the market frequently in recent trading sessions. The company focuses on the acquisition of staffing companies in the U.S. and the U.K. where it then can provide temporary contractors, recruitment of candidates for permanent placement, and more. Its staffing companies support accounting, finance, and engineering. So what has Staffing 360 Solutions been doing recently?
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On June 24th, the company announced improved anticipated second-quarter financial results. The Chairman and Chief Executive Officer said, “I’m pleased to report that we are experiencing the deep and widespread business opportunities that we expected we would see. Each of our Business Streams is showing material recoveries from the difficult period of the COVID-19 pandemic. The cost control initiatives that we executed during 2020, allied to strong internal communication, wellness program, and solid financial control and management, have allowed us to come through to the recovery phase of the pandemic stronger than when we went into it.”
On June 30th, the company announced a reverse stock split to maintain its NASDAQ listing. This stock split took place at 5 pm on June 30th. Since the split, STAF stock has gone from about $3.74 per share on average to $5 per share on average on July 2nd. Considering this, will you add STAF to your list of penny stocks to watch?
Ocean Power Technologies Inc. (NYSE: OPTT)
Ocean Power Technologies Inc. is an ancillary energy penny stock working in offshore power grids. This company develops and commercializes proprietary electricity generation systems. These systems use the renewable energy of ocean waves to create power. Additionally, its PB3 PowerBuoy system generates power for use separate from the power grid in remote offshore locations. On June 23rd, Ocean Power Technologies announced that it has been added to the Russell Microcap Index.
“OPT’s inclusion in the Russell Microcap® Index is testament to the Company’s growth potential. We believe that the awareness of being included in Russell indexes will not only benefit our existing shareholders but will lead to greater exposure to potential institutional investors.”
The President and CEO Philipp Stratmann
Just five days ago, OPTT stock was worth $2.58 per share on average. Now OPTT stock is at nearly $3 per share on July 2nd. This momentum is a result of the company’s post-pandemic recovery. Ocean Power Technologies’ trading volume is more than 25 times its average at the moment. With all of this in mind, will OPTT stock make it onto your watchlist?
Senseonics Holdings Inc. (NYSE: SENS)
Now let’s talk about a biotech penny stock, Senseonics Holdings Inc., which has been outperforming market expectations recently. This medical technology-based company develops and commercializes continuous glucose monitoring systems for those with diabetes. Its products include the Eversense and Eversense XL, which are implantable continuous glucose monitoring systems. These systems measure glucose levels through an under-skin sensor, a removable and rechargeable transmitter, and an app.
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On July 2nd, the company announced equity grants to its employees under an inducement plan. The company granted 5 new non-executive employees non-qualified stock options to purchase an aggregate of 66,000 shares at $3.50 per share.
This company also recently presented data from its PROMISE Study at the American Diabetes Association Virtual 81st Annual Scientific Sessions. One month ago, SENS stock was at $2.10 per share on average. On July 2nd, SENS stock is at $3.50 per share on average. The company’s volume is lower than its average, but this did not stop it from being in the green on the 2nd. With all of this recent information considered, will SENS make your penny stock watchlist in July?
Harmony Gold Mining Company Limited (NYSE: HMY)
Harmony Gold Mining Company Limited is a mining penny stock that explores land, extracts precious metals, and processes these metals as well. The company searches for minerals such as gold, silver, copper, and uranium. Harmony also looks for deposits in South Africa and Papua New Guinea. Currently, Harmony has nine underground operations in the Witwatersrand Basin, which is an open-pit mine in South Africa. It also has interests in the Hidden Valley, Wafi-Golpu, and more projects.
There is no company-specific news that is causing HMY stock to go up in the market. Generally, HMY stock will go up or down with the prices of materials. For example, the price of gold increased on July 2nd. As a result, HMY stock increased by 1.58% during the trading day. In the last month, HMY stock has gone down significantly. In the last 5 days though, HMY stock has started to show positive momentum. With this in mind, will HMY be a contender for your list of mining penny stocks to watch?
5 More Penny Stocks For You to Watch This Summer
- Vislink Technologies Inc. (NASDAQ: VISL)
- Federal National Mortgage Association (OTC: FNMA)
- Clearside Biomedical Inc. (NASDAQ: CLSD)
- Adial Pharmaceuticals Inc. (NASDAQ: ADIL)
- Mereo BioPharma Group plc. ADR (NASDAQ: MREO)
Are Reddit Penny Stocks Worth It?
Finding penny stocks on Reddit can be a valuable strategy for those who know where to look. But, it’s not enough to simply make a penny stocks watchlist simply because a stock is trending online.
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Rather, investors need to do the proper research to make sure that it has true underlying value. Once this step is done, profiting with Reddit penny stocks can be a major part of your investing strategy.
