Meme Penny Stocks Are on The Rise, Here’s 3 to Know About

In the past few weeks, many penny stocks have become associated with the rise of meme stocks. This is a natural connection, as both meme stocks and penny stocks are highly volatile. You might be wondering, what are meme stocks? There is a combination of two factors that go into these and while it may seem complicated, it isn’t. 

Before we go any further, it’s worth discussing what is going on in the market right now, and what led to the creation of these stocks. This all began earlier this year when traders on Reddit, specifically the subReddit WallStreetBets, decided to collectively buy certain stocks. 

What Are Meme Stocks?

First on the list was GameStop Corp. (NYSE: GME). These traders saw a combination of a large institutional short position and their favorite video game retailer about to go into bankruptcy. So instead of sitting idly by, they all decided to invest. This resulted in shares of GME stock pushing up in the thousands of percentage points in only a matter of a week or so. 

The next and most recent Reddit penny stock/meme stock is AMC Entertainment Holdings Inc. (NYSE: AMC). On June 4th, shares of the entertainment company sit at around $50, up over 430% from where it was 30 days ago. Again, this was the result of retail investors collectively coming together to invest in a company that they held an emotional connection to. 

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So, the term ‘meme stocks’ itself comes from a combination of retail investors on Reddit, and stocks that otherwise would have crashed without the influence of these traders. A meme for context is a picture or video with a caption. And, these have become a sort of social currency in the past few years. Traders online love to discuss stocks that they are invested in, and memes are a great way to complain about losses, brag about gains, or even make jokes about certain events. 

The term ‘meme stocks’ does not exclusively apply to penny stocks. Many investors consider Tesla Inc. (NASDAQ: TSLA) to be a meme stock as well due to Elon Musk’s penchant for communicating online. So, while the term may seem difficult to understand at first, meme stocks tend to be the most trending stocks on social media. With this in mind, let’s take a look at three that you might not know about. 

3 Meme Penny Stocks to Watch

  1. Vinco Ventures Inc. (NASDAQ: BBIG)
  2. Windtree Therapeutics Inc. (NASDAQ: WINT
  3. Future Fintech Group Inc. (NASDAQ: FTFT

Vinco Ventures Inc. (NASDAQ: BBIG) 

Shares of the frequently discussed company, Vinco Ventures, pushed up by a staggering 23% by midday on Friday, June 4th. While no company-specific news came out today, we can look at some recent announcements to try and discover why BBIG stock could be moving. For some context, Vinco Ventures utilizes an acquisition business strategy and a principle it titles B.I.G. This stands for “Buy. Innovate. Grow.” Its main focus is on digital media and content technologies, where it holds several unique companies. 

Last week, it announced major updates regarding its ZASH Global Media and Entertainment merger and the acquisition of Lomotif. Vinco states that it plans to acquire Lomotif Private Ltd. with ZASH in a joint venture known as ZVV Media Partners LLC. Before June 11th, an independent valuation of ZASH will be done by Gemini Valuation Services. And, if all goes well, a final agreement and merger plan will be signed on June 24th. 

Mergers and acquisitions occur frequently in the stock market. However, they are always exciting for both investors and companies alike. Considering this, eyes are on BBIG right now as to whether this deal will close and what time frame it will do so in. With that in mind, will BBIG stock be on your watchlist?

Penny_Stocks_to_Watch_Vinco Ventures Inc. (BBIG Stock Chart)

Windtree Therapeutics Inc. (NASDAQ: WINT) 

One of the largest gainers of the day so far is WINT stock, pushing up by over 55% by midday on June 4th. The main reason for this gain is that the analyst group Oppenheimer covered the stock, and put both an Outperform rating as well as an $8 price target on it. Price targets are not usually a be-all-end-all factor, but they do tend to make a stock move in either direction. 

And, analysts usually know what they’re talking about, which means that these targets are worth paying attention to. But, investors should also do their research into a company before deciding to pull the trigger. Windtree Therapeutics Inc. is a biotech company, developing KL4 aerosolized surfactant therapies. These can be used in respiratory diseases. Additionally, its AEROSURF proprietary technology platform is in development for the treatment of respiratory distress syndrome in infants. 

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A few weeks ago, Windtree announced its Q1 2021 financial results as well as several key business updates. This includes an update on the expansion of the participating countries in its Phase 2 global study of istaroxime for Early Cardiogenic Shock in heart failure. And, the company dosed its first patient in the Phase 2 clinical study of lucinactant, designed to treat ARDS associated with Covid-19.

Lastly, its equity financing deal of $30 million in gross proceeds, should help it to fund these projects moving forward. Considering all of these exciting advancements, WINT stock could be worth adding to your list of penny stocks to watch. 

Penny_Stocks_to_Watch_Windtree Therapeutics Inc. (WINT Stock Chart)

Future Fintech Group Inc. (NASDAQ: FTFT) 

While FTFT stocks gain of around 5% today is not as much as the penny stocks mentioned above, it is still substantial enough to consider. Future Fintech Group is as its name suggests, a company working in the fintech market. It operates several blockchain e-commerce businesses and provides services for the financial tech sector. 

This includes a blockchain-based online shopping mall platform known as Chain Cloud Mall as well as a cross-border e-commerce platform known as NONOGIRL. Additionally, it offers an incubator for blockchain application projects and financial services products. Only a few weeks ago, the company announced its attendance at the 2021 Chengdu Blockchain and Digital Cultural Creative Industry Development Conference. 

“We are in agreement with the conference’s viewpoint and also believe that the increasing evolution of blockchain technology will continue to be applied in many sectors including finance, culture, entertainment, media, and intellectual property. This provides us with an excellent opportunity to help to transform and upgrade industries in China.”

Shanchun Huang, CEO of FTFT

As a blockchain penny stock, FTFT offers investors an opportunity for a cutting-edge fintech company. Because blockchain technology is still at the early stages of development, its uses remain incredibly broad. Whether this makes FTFT stock worth watching is up to you. 

Penny_Stocks_to_Watch_Future Fintech Group Inc. (FTFT Stock Chart)

Meme Penny Stocks Are Here to Stay 

The fad of meme penny stocks seems like it is no longer just a trending topic. While it may have begun as one, now investors use social media heavily to find penny stocks to watch.

[Read More] Former Penny Stocks That Exploded in Value, One Up Over 3,500%

As always, doing your research will put you ahead of the game. But, utilizing the most talked-about stocks and social media sites to find them, will add another layer to your overall strategy. Considering this, we are in the midst of a stock market revolution. And with greater access to trading than ever before, it looks like meme penny stocks are here to stay.

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