Are These 10 Penny Stocks Worth Watching for July 2021?
Finding penny stocks in 2021 has not been easy, to say the least. With so many ups and downs occurring daily, it can at times be difficult to keep up with the market trajectory. However, with the right research on hand and a dedication to finding information, it can be easier than previously imagined. While many think that investing in penny stocks is a game of chance, the most seasoned investors know that having a strategy and sticking by it is the best way to succeed.
Because penny stocks fluctuate so frequently, especially those on Reddit, understanding what makes the move can be a game-changer for your portfolio. When looking for penny stocks on Reddit it is pertinent to understand not just why they’re trending, but the underlying business as well. This way you can be confident in your portfolio for either the short or long term.
This article is a continuation of ‘5 Reddit Penny Stocks Heating Up Small Caps Today’. If you haven’t read it, go back and check the other five penny stock on this list. So considering all of these factors, here are five more Reddit penny stocks to watch on Robinhood right now.
5 More Top Reddit Penny Stocks for Your Robinhood Portfolio
- Globalstar Inc. (NYSE: GSAT)
- Adial Pharmaceuticals Inc. (NASDAQ: ADIL)
- Grom Social Enterprises Inc. (NASDAQ: GROM)
- China Xiangtai Food Co. Ltd. (NASDAQ: PLIN)
- Enzolytics Inc. (OTC: ENZC)
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a tech penny stock that we’ve covered numerous times in the past few months. Up by around 3% in morning trading, GSAT stock is once again on the radar. In the past six months, shares of GSAT have shot up by a staggering 422% to its June 28th price of just below $2. Last week, shares skyrocketed after the analyst Mike Crawford from B. Riley, have it $3.25 price target. Crawford also stated that it is “at long last starting to realize a return” on its business model and satellite products.
If you’re unfamiliar, Globalstar is a provider of customizable satellite IoT solutions. These are in use for industries such as oil and gas, emergency management, government, and many more. In addition, it offers its SPOT product line, which is used for personal safety and emergency response. Considering its broadness and major gains in the past few months, is GSAT stock worth watching?
Adial Pharmaceuticals Inc. (NASDAQ: ADIL)
Up by a solid 10%, or so at midday are shares of ADIL stock. While many big gains with penny stocks occur without news, there are two important announcements to consider for ADIL stock right now. On one hand, the company announced that it has officially joined the Russell Microcap Index. This is big news and should bring in a great deal of both attention and capital to Adial Pharmaceuticals.
“We are pleased to join the Russell Microcap Index. We believe this addition reflects the progress we are making to increase shareholder value by advancing our lead investigational new drug product, ADO4, through our ONWARD Phase 3 trial for the treatment of alcohol use disorder.”CEO of ADIL William Stilley
The second piece of news comes as the company announced that it had dropped plans for an earlier announcement of a stock offering. This is great news for investors as it means worries of share dilution may be at bay for now. So, if you’re looking for an interesting biotech penny stock to watch, ADIL could be worth keeping an eye on right now.
Another decent gainer of the day is GROM stock, pushing up by around 11% at midday. In the past five days, shares of GROM have shot up by around 33%, indicating solid bullish sentiment. Grom Social Enterprises is a social media platform and content provider for children under the age of 13.
It offers several digital products through its subsidiaries such as Grom Social, Top Draw Animation Inc, and Grom Educational Services among others. Last week, it announced a sizable $10 million public offering at a price of $4.15 per unit. This should help it to fund its recent proportions and the increased demand for digital entertainment.
At the end of last week, the company announced that its recent acquisition, Curiosity Ink Media, has entered into a partnership with Toon2Tango GmbH & Co. KG. The goal with this is to develop Curiosity’s IP Baldiwin’s Big Adventure into an animated preschool series. With the Summer in full swing, more kids are at home right now than in many months prior. This is leading to a vast increase in the demand for at-home entertainment. Considering this deal and GROM’s business opportunities, will it be on your watchlist?
China Xiangtai Foods Co. Ltd. (NASDAQ: PLIN)
PLIN is another penny stock that we’ve been covering for quite some time now. And, today shares of PLIN stock are up by a solid 9% at midday. There’s no company-specific news that is resulting in this gain, however, we do see relatively random spikes and drops with PLIN stock regularly. For some context, PLIN is a producer of foods in China. This includes pool processing, fresh meat, beef, lamb, and poultries. And, it recently acquired Chongqing Ji Mao Cang Feed Co. Ltd. to move into the raw livestock feed market.
One of the reasons that PLIN stock moves like this is due to its status as a Reddit penny stock. China Xiangtai Foods is often mentioned across social media and continues to be a trending penny stock despite not releasing any recent updates. So, keep in mind that shares of PLIN stock tend to be highly volatile. But, if this is something you’re interested in, PLIN could be worth watching.
Enzolytics Inc. (OTC: ENZC)
Enzolytics is a pure-play biotech penny stock that is developing monoclonal antibodies for use in treating infectious diseases. This includes it’s patented and clinically tested ITV-1 compound, which could be effective in treating HIV/AIDS. And, the company is currently testing its human monoclonal antibody technology to potentially prevent other infectious illnesses such as rabies, influenza, tetanus, diphtheria, and more notably, SARS-CoV-2. Earlier in June, it announced progress on the completion of its clinical trials for ITV-1, alongside plans to distribute it around Europe.
“The Company’s objective is to provide new, better, and safer therapeutics to treat HIV. Currently, treatment is solely through the lifelong use of antiretrovirals (ARVs) which are expensive and have long-lasting serious negative side effects on the body. The costs for ARVs are excessive from $27,450 per year…to $42.635 per year…and lifetime costs of up to $350,000.”CEO of ENZC, Charles Cotropia
As we see, this is a major market for ENZC and one that could pan out positively if all goes according to plan. With this in mind, will ENZC be on your penny stocks watchlist moving forward?
Are Reddit Penny Stocks on Robinhood Worth It?
Of course, investors should always use their own research rather than crowdsourcing investor sentiment from popular social media sites. With this in mind, are Reddit penny stocks on Robinhood worth it or not?
To read about the other penny stocks on this list, head to 5 Reddit Penny Stocks Heating Up Small Caps Today