These Hot Penny Stocks Continue to Spike As a Result of Reddit Traders
Reddit penny stocks have become some of the hottest trending penny stocks to watch over the last year. If you’re unfamiliar, Reddit is a social media platform that allows individuals to form groups or Subreddits.
These Subreddits are based on anything from cats to old cars and you guessed it, penny stocks. Popular investor Subreddits include the likes of r/WallStreetBets and r/RedditPennyStocks among others.
And while this may not have had a major effect on actual trading in the past, it is now a major factor to consider. Only a few months ago, traders came together to invest in shares of GameStop Corp. (NYSE: GME) to try and beat out a large institutional short position. This resulted in shares of GME stock spiking in the thousands of percentage points in only a short period.
Additionally, the same has occurred for many cryptocurrencies such as DogeCoin and lesser-known cryptos like SafeMoon. All of this goes to show that when investors come together, they can have a large effect on the actual price of either a penny stock or a blue-chip. Considering this, there are hundreds of penny stocks on Reddit that were discussed every day.[Read More] Top Penny Stocks to Buy? Check These 4 Out For Your May Watchlist
And while some result in large percentage gains, most fly under the radar. As smart investors, we should be looking for those that may not be as subject to large swings as others. This is the best way to avoid seeing massive swings in either direction in your portfolio.
Also, Reddit should only be used as a tool to gain watchlist inspiration, rather than for directly making a list of penny stocks to buy. With all of this in mind, let’s take a look at three Reddit penny stocks making big waves right now.
3 Reddit Penny Stocks to Watch
- Comstock Mining Inc. (NYSE: LODE)
- Aptorum Group Ltd. (NASDAQ: APM)
- Thermogenesis Holdings Inc. (NASDAQ: THMO)
1. Comstock Mining Inc. (NYSE: LODE)
Comstock Mining is as its name suggests, a mining penny stock. However, the company works in several interesting markets that go beyond this. Comstock’s focus is on sustainably extracting and producing a large quantity of renewable natural resources. It has the goal of entering into the clean energy market with the production of carbon-neutral and natural products.
Because of this, it remains quite different from many other mining companies. A few weeks ago, Comstock announced its first-quarter financial results as well as several corporate updates. In this, it stated that it launched the first MCU commercial mercury remediation and extraction system in the Philippines.
Additionally, it acquired a majority stake in the lithium-ion battery recycling company, LiNiCo. The latter announcement here is a big deal as it puts Comstock on the list of EV penny stocks to watch. During the quarter, it managed to increase its net income by a substantial $7.9 million from a loss of $0.3 million in the same period of the prior year. It also managed to increase its assets to $70 million, representing a 63% YoY growth amount.
“We have completed a remarkable transformation of our balance sheet, begun increasing our engineering and technical competencies, completely repositioned into growth assets, with more to come, and aligned compensation organizationally with our shareholders.”CEO of the company, Mr. De Gasperis
This is all great news for both investors and the company. Considering this, will it be on your list of Reddit penny stocks to watch?
2. Aptorum Group Ltd. (NASDAQ: APM)
Up by over 17% by EOD are shares of Aptorum Group Ltd. For those unfamiliar, APM is a biotech company working on several progressive medicines. Today, it announced that it has completed two initial cohorts of a single-dose escalating portion of the Phase 1 trial of its ALS-4 small molecule targeting Staphylococcus aureus. No serious adverse effects were reported and the drug was tolerated very well.
This is highly encouraging data and shows that APM could be on the right track. Additionally, it announced the completion of its Pre-IND meeting the FDA as it relates to the compound SACT-1, a small molecule targeting neuroblastoma. Now, the company plans to begin clinical studies by the third quarter of this year.
Both of these announcements are important for investors to consider. When a biotech company releases any news, it usually results in either a spike or a drop in value. But, given that these announcements show the progress of its pipeline, they are likely the cause of today’s solid gain for APM stock.[Read More] 5 Penny Stocks Analysts Say To Buy With Targets Up To 219% Right Now
Only a few weeks ago, the company also announced an agreement with Exeltis, to develop a novel preclinical candidate for gynecological endometriosis. All of this news should be taken into consideration when deciding whether or not to add Aptorum to your watchlist.
3. Thermogenesis Holdings Inc. (NASDAQ: THMO)
Up more than 10% during the day and into after hours is Thermogenesis Holdings Inc. while no major news came out sparking this gain, we can take a look at the company wholly to try and figure it out. THMO is a biotech penny stock developing and commercializing automated technologies for CAR-T and other cell-based therapy applications.
This includes everything from biobanking and point-of-care application to automation for immuno-oncology needs. Additionally, it is marketing its CAR-TXpress platform, which allows CAR-T immunotherapeutics to be developed and manufactured more easily than without it. Last week, the company announced its first-quarter results for the period ending on March 31st.
“Our continued commitment to develop and improve upon our broad line of automated tools for the cell and gene therapy field was exemplified by the first quarter launch of the FDA Registered 510(k) device, PXP-LAVARE System.
This GMP compliant, optional cell reformation accessory, designed for use along with the PXP-1000 system, is an important addition to our full suite of novel, highly efficient cell processing systems, designed to help meet the critical needs of the emerging and promising field of cell and gene therapy.”CEO of Thermogenesis, Chris Xu, Ph.D.
While the company did see a decrease in revenue from the pandemic, it still managed to up its cash on hand by around 75% to $10 million. This is all encouraging news and should be in mind. With all of this considered, will THMO be on your penny stock watchlist?
What Reddit Penny Stocks Are You Watching?
With so many Reddit penny stocks out there, it can seem like a daunting task to find the best ones. However, with careful research and a commitment to understanding your investing style, it can be much easier than previously imagined.[Read More] 3 Biotech Penny Stocks To Watch That Analysts Are Bullish On Today
These three penny stocks are solid examples of watchlist candidates. But, it is also worth noting that they can be highly volatile. So considering all of this, which Reddit penny stocks are you watching right now?