3 Reddit Penny Stocks For Your Watchlist Right Now
Finding penny stocks on Reddit is one of the most popular places to gain ideas for a trading strategy. And as a result, many investors look to the social media site daily to find the best penny stocks to buy. Now, there are a few things that all traders should know when it comes to Reddit penny stocks.
First and foremost, penny stocks mentioned on Reddit are typically some of the most volatile stocks out there. This is par for the course and is the result of both the low price of penny stocks and the major speculation that comes with it.
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The second aspect to consider is that investors should always do research into a company before putting any money in. While it may be tempting to invest in a penny stock that is mentioned frequently on Reddit, it is also crucial to have a full understanding of its fundamentals. So, with all of this in mind, let’s take a look at three penny stocks that are popular on Reddit right now.
3 Penny Stocks on Reddit to Watch This Week
- Exicure Inc. (NASDAQ: XCUR)
- Southwestern Energy Company (NYSE: SWN)
- Zomedica Corp. (NYSE: ZOM)
Exicure Inc. (NASDAQ: XCUR)
One of the bigger gainers of the day so far is XCUR stock. By midday, shares of XCUR shot up by over 13.4% to north of $0.24 per share. While this may seem like a lot, in the past five days, shares have climbed by over 44%. This is a surprising bullish turnaround for the company as its previous performance was nothing to write home about. Now, the main reason behind its recent gains comes as it is heavily mentioned on Reddit as a short squeeze stock. These are stocks with a high short position held against them, that could have the potential to squeeze higher.
Now, there is little to say to make XCUR stock look like a buy right now aside from its potential to move in large amounts in both directions. The most recent news from the company came in December when it announced the results of an internal investigation and strategic measures to reduce cash burn. It stated that it has cut more than 50% of its workforce as well as the implementation of several cash-saving measures.
“This has been a difficult time for all of our stakeholders and Exicure employees. I want to first thank the employees impacted by our workforce reduction for their significant contributions in pursuing treatments for patients with unmet medical needs and wish them success in their future endeavors.”
The CEO of Exicure, Brian Bock
So, while it is tough to say that XCUR stock is worth buying, it could be worth adding to your list of penny stocks to watch.
Southwestern Energy Company (NYSE: SWN)
Another sizable gainer of the day so far is SWN stock. By midday, shares of SWN stock had jumped by over 2.6% to north of $4.72 per share. It’s worth noting that we’ve discussed SWN stock numerous times in the past few months.
And, over the last five days alone, shares have risen by over 11%. While there’s no specific reason behind SWN’s recent moves, we can look at an announcement made at the end of the year. On December 31st, the company stated that it completed the acquisition of GEP Haynesville LLC. This will allow SWN to capitalize further on Haynesville and increase its inventory vastly. Now, the company has a major presence in two of the largest natural gas basins in the U.S.
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To fund this, the company will most likely use the money raised from its offering of $1.15 billion 4.75% senior notes due 2032. In addition, it recently gained $550 million from an institutional term loan. So, with SWN’s sizable capital position and the general bullishness around the natural gas industry right now, it looks like it could be worth keeping an eye on. Considering that, will SWN be on your penny stocks watchlist or not?
Zomedica Corp. (NYSE: ZOM)
Another penny stock that has made sizable headway in the past few months is Zomedica Corp. With a 1.2% gain today and high volume, shares of ZOM stock are up by over 9.5% in the past five days. Despite a one year drop of over 70%, we have begun to see a small bullish turnaround. While a year ago, it was tough to see buying shares of ZOM stock due to its limited commercial sales and less than stellar financials, have things changed recently? Well, the company announced a few days ago an update regarding its marketing activities for the first quarter of this year.
“We are excited about the opportunity to build on our momentum by leveraging the fully trained Zomedica field sales force to continue to grow the business.”
The CEO of PulseVet and General Manager of Zomedica, Adrian Lock
Over the last year, sales and marketing have been the biggest challenges for Zomedica. While it does have a commercially available product, getting it into the hands of veterinarians has been a challenge. Now, while it is tough to say if this news will be a long term benefit for ZOM, it is encouraging in the meantime. So, with that in mind, will ZOM stock make your watchlist this month?
Which Reddit Penny Stocks Are on Your Watchlist Right Now?
When it comes to Reddit penny stocks, there are hundreds to choose from. But, investors need to understand the difference between those that are worth buying and those that are not. Because of the wide array of Reddit penny stocks out there, knowing how to pick ones that could make you money, is paramount.
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To do this, investors need to have a thorough and consistent understanding of how to trade penny stocks. While this can be difficult, understanding your own investing strategy and your tolerance for risk is the best way to have a chance of profitability with penny stocks. Considering that, which Reddit penny stocks are on your watchlist right now?
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