These Reddit Penny Stocks Are Surging Today

The attention that penny stocks on Reddit are receiving right now is unlike anything I’ve personally seen on social media in quite some time. If you’ve traded for a while, you’ve seen pockets of excitement take over Facebook discussion forums, and Twitter feeds here and there.

But the afterburners were turned on earlier this year, initially sparked by the massive run in GameStop (NYSE: GME). The crazy part is that GME was a former penny stock that no mainstream outlets would’ve otherwise shown interest in if not for the Reddit army.

This market shifting event saw sympathy momentum spillover into plenty of other names in the stock market. It even saw false breakouts being credited to these Reddit traders, which ended up being disproven by the same Redditors being credited in the first place. One example is when silver stocks surged for a few days.

The social media platform was at the center of attention in light of the focus on retail traders sparking volatile moves in certain stocks. Whether the move in silver was or wasn’t a result of Reddit is less important than the fact that we’ve got an entirely new group of traders influencing the markets.

Is this good, bad, somewhere in the middle? In my opinion, this is a breath of fresh air for stocks and definitely keeps traditionalists on their toes. It has also lead to a new style of trading that involves more volatility. In this search for the ultimate market alpha, penny stocks remain a component of this new trading trend.

Reddit Penny Stocks To Buy [or avoid]

So, where does this leave you? Are you a new trader looking to dive into this wild market, or are you standing by waiting to see what happens next? While volatility isn’t for everyone, it has definitely resulted in some of the biggest moves in the stock market.

Also See: Robinhood, Webull, Others Block Access To Penny Stocks Today

We’re not just seeing a few 500% movers a quarter. It’s now more along the line of a few multi-triple-digit movers a week, at least. Closing things out this week, there are several Reddit stocks to watch. I’ll leave it up to you to decide if they’ll be the best penny stocks to buy or if you should avoid them entirely.

Reddit Penny Stocks To Buy [or avoid] #1: Express Inc.

Express has focused on small-cap traders longer than it has been a focus of attention on Reddit. However, some of the biggest moves that the stock has made within the last few months came this year. From January 4th to the 27th, shares of EXPR stock moved from around $0.90 to highs of nearly $14 thanks to the catalyst from Reddit traders. It also came under fire with brokerages like Robinhood and Webull, which restricted certain access to the stock a few months back.

Needless to say, EXPR has become more than just a Meme stock. The company has worked to turn things around after last year’s pandemic breakdown. Where it’s traditional brick and mortar locations were shut down, Express took a up a stronger focus on digital sales channels.

Fast-forward to this year, and we may have seen the fruits of the management’s labor early on. In its latest quarterly report, the company showed a smaller-than-expected loss. Furthermore, the company announced a $1 billion plan for its eCommerce channel in 2024. As the world continues reopening, this meme stock may be one to watch for other reasons outside of just being a focus of social media users.

reddit penny stocks to buy avoid Express Inc. EXPR stock chart

#2: Zomedica Corp.

Similar to Express, Zomedica was already grabbing attention before becoming one of the Reddit penny stocks to watch. The company has been laser-focused on the commercial launch of its animal diagnostic product, TRUFORMA. It’s set to happen by the end of this month. Zomedica has already started building the infrastructure to handles a commercial roll-out. The company has also signed distribution agreements with companies like Miller Veterinary Supply to handle expanded access to customers. Miller is one of the veterinary industry’s fastest-growing businesses wholesaling and distributing supplies in the U.S.

This week Zomedica was in the news after retiring certain preferred shares of the company. The company completed the exchange of 12 of its outstanding Series 1 Preferred Shares. Robert Cohen, CEO of Zomedica, explained that “The exchange of the Preferred Shares for common shares eliminates this potential detrimental effect, results in a “clean” balance sheet for the Company, and removes what was, in our opinion, a potential overhang on the common shareholders.”

[Read More] 4 Penny Stocks Analysts Say To Buy With Targets Of Up To 360%

With commercialization looming, speculation has continued fueling momentum in the market. ZOM stock is up over 14% this week so far. What may be more impressive is that year-to-date, the Reddit penny stock is up over 700% as of the opening bell on March 12th.

reddit penny stocks to buy avoid Zomedica Corp. ZOM stock chart

Reddit Penny Stocks To Buy [or avoid] #3: Nokia Corp.

Believe it or not, long-standing telecommunications conglomerate Nokia was caught up in the Reddit hype this year. While it has a much larger share structure than many other meme stocks, NOK shares surged alongside GME, KOSS, and others in January. In fact, before the end of the month, NOK stock reached a high of $9.79 before free-falling back down to under $5 in February. Putting the hype-fueled momentum into perspective, Nokia hadn’t traded at those levels since 2011.

In any case, after bringing in its new CEO last year, the company has been focused on expanding its tech offering. In particular, NOK is one of the popular 5G penny stocks to watch right now. This week, the company was selected by Kawasaki Kisen Kaisha Ltd. to build upon its maritime networking capabilities.

Donny Janssens, Head of Customer Team, Nokia Enterprise Japan, said: “Through the deployment of the field area network, we’re helping ‘K’ LINE not only to enhance operational efficiency and industrial safety but also to advance its digital transformation. This is the first Nokia 4G/LTE FAN deployment in Japan, bringing it to a new market following its successful deployment in mining sites, electric grids, and ports worldwide.”

Nokia is a much slower-moving penny stock in comparison to other meme stocks. It’s also worth mentioning that with over 5 billion shares outstanding, it doesn’t have the smallest float either. This helps support the reason why NOK hasn’t been as volatile as other penny stocks on Reddit.

reddit penny stocks to buy avoid Nokia NOK stock chart

#4: Organigram

This retail-fueled move hasn’t ignored the traditionally volatile industries either. While Tilray became the first target of these traders, Organigram quickly followed. It was one of the few marijuana penny stocks on Robinhood that wasn’t Sundial Growers. It’s also worth mentioning that Organigram has been pushing forth with its expanded retail initiative this year. This has acted as an additional catalyst.

Read More

This week was an active one for the marijuana company. Organigram announced a product development collaboration with BAT. The goal is to accelerate Organigram’s R&D and product pipeline development. It also provides a few hundred million in capital via a strategic investment made by BAT.

Recent moves made by Organigram haven’t gone unnoticed by analysts either. This week, BMO Capital and Raymond James weighed in on the marijuana penny stock. BMO actually downgraded OGI stock to Underperform and announced a $2 price target. Raymond James, however, was much different in its approach to OGI stock. The firm doubled its target following this new partnership. With its shiny new partnership with BAT, the wind is now at OGI’s back, in our view,” analysts Rahul Sarugaser and Michael W. Freeman wrote in a note to clients.

reddit penny stocks to buy avoid Organigram OGI stock chart

#5: Trivago

Hotel, Trivago. I’m sure you’ve heard this before or seen it as an advertisement. Trivago is another one of the unassuming penny stocks to get folded into the meme stock world. Shares of TRVG saw a massive, 1-day spike during the height of the Reddit movement and reached a high of $5.88 before coming right back to its original price channel. However, since then, a nice mix of left-over attention from traders & a focus on reopening stocks have helped propel TRVG stock higher in a much more consistent uptrend.

As the world begins reopening, travel and leisure will likely benefit. In light of this, companies operating booking services could be a focus. Further to this, market analysts are growing more bullish. Morgan Stanley recently increased its price target from $2.20 to $2.40. It currently maintains an Equal-Weight rating on Trivago. Other analysts, including Mizuho and Citigroup, have also placed a focus on Trivago. Right now, Mizuho has a Buy as well as a price target of $2.70. Citigroup, on the other hand, maintains a Neutral rating on Trivago.

reddit penny stocks to buy avoid Trivago TRVG stock chart

Should You Look For Meme Stocks To Buy?

Here’s the thing with Meme Stocks and something that opponents of the new Social Media ETF BUZZ have an issue with: meme stocks are at risk of heavy manipulation. Clearly, the media has played a part in shedding light on this as a risk. However, once you peel away the layer of hype for many of these meme stocks, what are you looking at? This is something to think about if you come across an “interesting” Reddit stock because after the hype phase lessens, fundamentals will be what longer-term investors will grab onto.


Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Junior Gold Stocks Creating Massive Opportunity for Investors!

An Immediate Stock Alert is Being Called On: IMC International Mining Corp…