Top Reddit Penny Stocks For Your Watchlist Right Now
Over the past year, finding penny stocks on Reddit has become a favored pastime for small-caps investors. While it can be challenging with hundreds of penny stocks to choose from, doing research will help to separate the winners from the losers. It’s well known that Reddit penny stocks tend to be more volatile than most others. However, we also have to consider the effects of other social media applications such as Twitter.
With this, we see that any trending penny stocks can appear on any social media site at any time. And because of this, understanding which are mentioned frequently and how to take advantage is a great strategy. Of course, investors should do their own research into the individual company to make sure that its fundamentals are there.
However, because speculation is key in this regard, it is a mixture of both factors. This article is a continuation of ‘Reddit Penny Stocks to Buy? 3 Small-Caps For Your Summer Watchlist‘. With this in mind, here are seven Reddit penny stocks that should be on your watchlist.
7 Reddit Penny Stocks to Watch Right Now
- 1847 Goedeker Inc. (NYSE: GOED)
- Auddia Inc. (NASDAQ: AUUD)
- Adamis Pharmaceuticals Corp. (NASDAQ: ADMP)
- MICT Inc. (NASDAQ: MICT)
1847 Goedeker Inc. (NYSE: GOED)
1847 Goedeker Inc. is an e-commerce penny stock that increased in value dramatically on June 23rd. The company primarily sells furniture and appliances in the United States. 1847 Goedeker also sells fitness equipment, televisions, outdoor products, fixtures, and more. It also offers installation and old appliance removal services. With this, we see that its retail business is quite broad.
On June 16th the company announced that it has continued strong growth in the month of May 2021. Its revenue for the month was up 41.9% year over year on a combined proforma basis. GOED stock has increased by more than $1 per share since this announcement was made. Now, the company’s volume continues to be more than double its average which is a positive sign for bullish investors. Specifically, GOED stock increased by over 12% on June 23rd.
“We continue to operate at more than a $500 million annual revenue run rate through May. While our fill rate of 61% remains well below our historical 85% rate, we continue to believe we will see a return to normal shipping trends as manufacturers catch production up to consumer demand in the latter part of the third quarter.”CEO of 1847 Goedeker, Doug Moore
Considering this, will you add this penny stock to your watchlist?
Auddia Inc. (NASDAQ: AUUD)
This next penny stock, Auddia Inc., just saw a massive uptick that has attracted investors. Auddia is a tech penny stock that focuses on software development. Its software products are created for podcasting and audio markets. The main product is offers known as Auddia, which is a subscription-based mobile app that lets users listen to AM/FM radio stations with no commercials. It also has Vodacast in its product lineup, which is an interactive podcasting platform and app. Additionally, Auddia Inc. operates Vodcast Hub which is a content management system.
On June 23rd, AUUD stock is up more than 18% in the market. This comes after a June 22nd announcement made by the company. Auddia Inc. released major technology advancements in AI with a new audio content processing method. Its new approach will increase accuracy by 170% and reduce the processing time by at least 5X while virtually getting rid of the majority of costs associated with broadcasting. The full national launch of its AI technology will be in the second half of 2021.
“Our latest advancement in AI takes advantage of what we always understood to be one of the most valuable elements of the audio content ecosystem, which is the abundance and open availability of audio data. Accurately tagging that audio data with precise metadata is the ultimate objective, and our new methodology enables us to meet that objective.”The Chief Technology Officer at Auddia, Peter Shoebridge
So will AUUD stock make your watchlist as its volume is almost 100 times its average?
Adamis Pharmaceuticals Corporation (NASDAQ: ADMP)
Adamis Pharmaceuticals Corporation is a biotech penny stock that creates products for the therapeutic areas of allergy and respiratory disease. The United States-based company focuses on the development and commercialization of these products. Its product candidates include Symjepi Injection pre-filled syringes for use in the emergency treatment of acute allergic reactions. Additionally, its compound APC410 is in trials for the treatment of respiratory diseases, such as influenza and COVID-19.
As you may have seen, companies involved with creating COVID-19 treatments have come into the public eye over the past year or so. On June 11th, Adamis provided an update on the clinical trial start-up progress for Tempol in the treatment of COVID-19. Activities will be proceeding for the Phase 2/3 trial examining the effects of Tempol for the treatment of COVID-19.
“We believe that additional treatment modalities are sorely needed for COVID-19 due to the surge of virus variants. Because of Tempol’s mechanism of action, it may inhibit viral replication of all current and future variants of the virus.”CEO of Adamis, Dr. Dennis Carlo
ADMP stock price has gone up by about $0.10 per share since this announcement was made. One month ago, ADMP stock was at $0.75 per share on average. Now as of June 23rd, ADMP stock price is at $1.13 per share. Whether this makes ADMP worth watching or not is up to you.
MICT Inc. (NASDAQ: MICT)
MICT Inc. is a tech penny stock that is performing very well at the moment. This company designs, develops, manufactures, and sells mobile computing devices. Additionally, it sells software for fleet operators and field workforces. MICT engages in the provision of online brokerage services for equities trading and insurance sales products as well. This is done through a proprietary trading technology platform. All of this allows it to act broadly as a major tech provider in the industry.
On June 7th, the MICT board approved $60 million in capitalization for its wholly-owned subsidiary Magpie Securities. This capitalization is to fund its stock trading platform launch.
“With the upcoming launch of our mobile stock trading app, the $60M investment in Magpie will properly capitalize the business to support our ambitious growth plans and provide the ability to offer competitive margin and IPO funding to our underlying customers.”Darren Mercer, the CEO of MICT
So will you add MICT stock to your watchlist with its recent bullish momentum in mind?
Are Reddit Penny Stocks Worth It In 2021?
Finding the best penny stocks to buy on Reddit can be challenging. With so many different small-caps being discussed every day, it can be difficult to keep track. However, if you’re dedicated to research and information, it can be much easier than previously imagined.
Keep in mind that Reddit penny stocks tend to be some of the most volatile stocks out there. But, with a trading strategy on hand, volatility can be in use as an advantage. With all of this in mind, are Reddit penny stocks worth it in 2021?
To read about the other five penny stocks on this list, head to Reddit Penny Stocks to Buy? 3 Small-Caps For Your Summer Watchlist