Penny Stocks To Buy According to Redditors
This article looks at penny stocks to buy according to Reddit sentiment. While the social discussion is far from deep-dive due diligence, Main Street traders have established a commanding voice that can’t go unnoticed. Whether you’re talking about the next round of multi-bagger penny stocks or which rumors are driving momentum, chances are that social media will reveal what retail traders are watching and why.
Thanks to the boom (and bust) of stocks like AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) during the pandemic, thousands of new traders are finding opportunities in the stock market. Today, that opportunity has been found in cheap stocks, and the last few weeks have shown this first-hand. Bed Bath & Beyond (NASDAQ: BBBY), Blue Apron (NYSE: APRN), and Altimmune (NASDAQ: ALT) are just a few examples of how significant of a move penny stocks can make. The retail community used social media to communicate sentiment and trade scenarios in all three examples.
[Read More] Are These Penny Stocks on Your September Buy List?Penny Stocks To Buy [or avoid]
Weighing your risk and reward is crucial, especially if social sentiment is part of your research process. Believe it or not (insert sarcasm), everything discussed on social media isn’t as accurate as some assume. And (gasp), in many instances, some use social platforms to tout misinformation to ignite bullish interest in companies. With today’s list of penny stocks, keep this in mind, and it’s not a bad idea to do further research beyond social sentiment.
Today we look into some recent catalysts that have contributed to market momentum. We also look into what potential events could be coming down the road. Once you’ve got the essential info, you can decide if they deserve a place on your list of penny stocks to buy or if you should avoid them entirely.
[READ MORE] Hot Penny Stocks To Buy For Under $1 Right NowMobilicom Ltd. (MOB)
What To Watch With MOB Stock
A recent IPO IS Mobilicom Ltd. Shares were priced at $4.13 in this month’s public debut, managed to reach a high of $6.66, and promptly fell 65% in the days to follow. Now, only five days after being a public company, shares of MOB stock seem to have gained a more bullish appeal than bearish. Wednesday saw the penny stock jump over 30%, with the highest single-day volume in the company’s public history.
There weren’t any headlines to pair with the move, but it was worth noting that August 30th was the closing date of the public offering. Moreover, the company provides cybersecurity and smart solutions for numerous technology platforms. These include drones and autonomous applications.
Thanks to the attention that some cyber names have received in light of more robust earnings performance, related stocks have gotten a boost at the end of August.
Applied DNA Sciences Inc. (APDN)
What To Watch With APDN Stock
A few things going on with Applied DNA have the market paying attention. First, the 13% short interest (according to Fintel.IO and TDAmeritrade) places it on the list of short squeeze stocks to watch. Meanwhile, the surge in trading this month has done its part in turning heads toward the biotech company.
We discussed APDN stock in our article Best Penny Stocks To Buy Now? 4 Monkeypox Stocks To Watch This Week. In particular, we talked about how it announced the start of analytical validation of a PCR-based monkeypox virus test. Applied DNA has submitted a package to the New York State Department of Health for approval.
As the market awaits a response, speculation has grown. The first confirmed death of a monkeypox patient in Texas has brought a much brighter spotlight to some of the top monkeypox stocks this week. Paired with attention on short squeeze stocks, APDN has found itself in social discussions before September kicks off.
Graphex Group Ltd. (GRFX)
What To Watch With GRFX Stock
New IPO stocks are something that retail traders can’t seem to get enough of. Albeit many of these implode entirely following the first day of trading (like MOB stock), it hasn’t deterred traders from trying to catch lightning in a bottle. Graphex recently priced its upsized public offering of 4,695,653 at $2.50; besides a few brief moments, GRFX stock hasn’t budged much from this price range.
The company is a graphite processor, and thanks to attention on EV stocks, it has gained some attention recently. This week has seen a more bullish reaction thanks to a new update on Wednesday. Graphex announced interim financial highlights and expansion progress for the year’s first six months.
“We expect continued stability in the second half of 2022 and look forward to moving ahead with our expansion plans for the graphene business in Asia and the U.S.,” said Andross Chan, CEO of Graphex Group. “Growth in the EV market in Asia continues to accelerate, and we believe we have positioned our graphene products very well to participate in that growth.”
Graphex discussed increasing production of graphite from 10,000 to 40,000 tons per year to meet growing demand. It also said that active negotiations are taking place while pursuing new material sources in the US, Brazil, Canada, Africa, Australia, and Europe.
Against the backdrop of a robust EV market, raw materials providers have gained some appeal among retail traders, and for some, GRFX stock is one of the names on the watch list right now.
Burning Rock Biotech Ltd. (BNR)
What To Watch With BNR Stock
Though it’s late in the season, earnings are still flowing in the stock market. Burning Rock Biotech is one of the latest to report. The precision oncology company released Q2 results this week and gave a business update. Despite missing on revenue estimates, it was the 2022 outlook that seems to have caught the interest of traders in the stock market today.
[READ MORE] Top Penny Stocks To Watch Before September 2022Burning Rock explained that its retaining full year 2022 revenue guidance of roughly RMB620 million (US$92.6 million) “for now,” and would “like to highlight the risks of further Covid-related impact in the second half of 2022, which is beyond the Company’s control and inherently difficult to forecast.”
Against this backdrop, it seems that the market took this as a bigger positive in the face of worse revenue performance.
List Of Penny Stocks In This Article
- Mobilicom Ltd. (NASDAQ: MOB)
- Applied DNA Sciences Inc. (NASDAQ: APDN)
- Graphex Group Ltd. (NYSEAMERICAN: GRFX)
- Burning Rock Biotech Ltd. (NASDAQ: BNR)
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