Are These Penny Stocks on Your July 4th Watchlist?
With the holiday weekend only a few days away, which penny stocks are on your watchlist? Well, to answer this question investors need to think about the penny stocks that may benefit from the current economic situation we are in. In mid-2021, Covid continues to be the most present factor in shifting the market. And that makes sense given how much of an effect it has had in the past year and a half.
But now, it seems that investors are confident in the trajectory of the market which has resulted in a large range of companies on the list of penny stocks, pushing up in value. So despite fears surrounding the Delta variant, many investors remain committed to finding reopening penny stocks that could benefit.
And with the long weekend ahead, now is the time to take the extra day to make a watchlist focused on the coming months. Additionally, we have to consider the effects of Reddit on penny stocks. With social media driving trading sentiment more than ever, penny stocks on Reddit are extremely popular. Considering all of this, let’s take a look at seven Reddit penny stocks to watch after the long weekend.
Read more: How To Buy Penny Stocks
7 Reddit Penny Stocks to Watch Right Now
- Eloxx Pharmaceuticals Inc. (NASDAQ: ELOX)
- Globus Maritime Ltd. (NASDAQ: GLBS)
- Remark Holdings Inc. (NASDAQ: MARK)
- RAVE Restaurant Group Inc. (NASDAQ: RAVE)
- Crescent Point Energy Corp. (NYSE: CPG)
Eloxx Pharmaceuticals Inc. (NASDAQ: ELOX)
Eloxx Pharmaceuticals Inc. is a biotech penny stock that is developing ribonucleic acid modulating drug candidates. These are to treat rare and ultra-rare premature stop codon diseases. Its lead investigational product candidate is ELX-02 which is in Phase 2 clinical trials, focused on treating cystic fibrosis and nephropathic cystinosis in patients with diagnosed nonsense mutations. Back in May, the company announced a funding award from the Cystic Fibrosis Foundation to develop ribosome modulating agents.
“We are honored to receive this funding from the Cystic Fibrosis Foundation in our ongoing commitment to identify and develop new treatments for CF. Their support of novel technologies enables critical research to advance and further evaluate the potential of the TURBO-ZM™ synthetic chemistry platform to develop a new class of therapies.”The President and CEO of ELOX, Sumit Aggarwal
ELOX stock has gone from $1.60 per share to $2 per share on average as of June 30th. So will this company be on your list of penny stocks to watch this week?
Globus Maritime Limited (NASDAQ: GLBS)
Globus Maritime Limited is an industrial penny stock that is seeing a lot of bullish sentiment right now. This company focuses on dry bulk shipping, marine transportation, and more. It currently owns, operates, and manages a fleet of dry bulk vessels for transporting iron ore, coal, grain, steel, cement, and other dry bulk cargo. As of June 15th, 2021 the company owned and operated seven vessels that can carry a total of 463,765 deadweight tonnage. Its vessels are chartered to shipping companies, operators, trading houses, and more.
On June 25th, the company announced the pricing of a $50 million registered direct offering. The company will issue 10 million common shares at $5 per common share. The company also announced that it has secured a new charter employment for its M/V River Globe vessel.
CEO and President Athanasios Feidakis said, “We have secured short-term employment as we continue to experience a strong market. We are focused on generating long-term value and expect to continue to take advantage of a rising market.” Will GLBS make your penny stock watchlist this month?
Remark Holdings Inc. (NASDAQ: MARK)
Remark Holdings Inc. is a tech penny stock that could potentially make your watchlist this month. This company focuses on developing and deploying artificial intelligence-based solutions for businesses and software developers. These AI products are sold under the Remark AI brand in the U.S. and the KanKan brand in China. The company also owns and operates an e-commerce digital media property that is focused on a luxury beach lifestyle. On June 8th it announced that KanKan AI has installed a smart campus system in more than 200 elementary and secondary schools in China.
“In addition to the practicality of the product, KanKan AI’s Smart Campus system is customizable to meet the needs of each school regarding the size of the campus, number of students, and building and entrance locations, among other criteria.
Our product engineers followed up throughout the installation process and the after-sales team trained school staff regarding product use, while our operations team conducted ongoing, maintenance-oriented monitoring to ensure data accuracy and provide customers with an outstanding experience.”The Chairman and CEO of Remark Holdings, Kai-Shing Tao
In the last month, MARK stock has increased significantly. One month ago, MARK’s stock price was at $1.50 per share on average. Now on June 30th, MARK stock is at $1.86 per share on average. This shows the positive performance that Remark has achieved as a result of its recent advancements. Noting this information, is MARK a contender for your list of penny stocks to watch?
RAVE Restaurant Group Inc. (NASDAQ: RAVE)
RAVE Restaurant Group Inc. is a company that operates and franchises pizza, buffets, delivery, and express restaurants. These restaurants are under the Pizza Inn trademark in the United States. Its buffet restaurants are in free-standing buildings or strip centers in retail developments. As of June 28, 2020, the company had 42 franchised Pie Five units, 176 franchised Pizza Inn restaurants, and 13 licensed Pizza Inn Express kiosks.
On June 28th, Pie Five Pizza announced a new parmesan crunch stuffed crust pizza. The Director of Pie Five Adam Schmidt said, “We took on the challenge to elevate stuffed crust to make it faster casual starting with our premium, high-quality ingredients and then adding a unique and savory taste texture. Adding baked parmesan to the house-made crust brings a unique and craveable crunch factor.”
The company has also recently launched pizza products that use Impossible Meat, providing pizza solutions to those who want vegeterian options. 5 days ago this penny stock was at $1.40 per share on average. Now on June 30th, RAVE stock is at $1.48 per share, up 5.71% on the day. RAVE’s trading volume is more than 4 times its average right now as well. With all of this in mind, will RAVE make your penny stock watchlist this month?
Crescent Point Energy Corp. (NYSE: CPG)
Another oil and gas penny stock performing well in the market right now is Crescent Point Energy Corp. This company explores, develops, and produces light and medium crude oil and natural gas reserves. The company’s properties and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba. It also has properties and assets in North Dakota and Montana.
On June 22nd, Crescent Point Energy Corp. released its 2021 sustainability report. This included the company increasing its target for emissions intensity reduction from 30% to 50% by 2025. The company also included a 70 percent reduction in absolute methane emissions in this time frame.
“Our 2021 Sustainability Report highlights the progress we have made to enhance Crescent Point’s social impact, governance oversight, and environmental stewardship. By making progress in these key areas, we are able to achieve our purpose of ‘Bringing Energy To Our World – The Right Way’.”The President and CEO of Crescent Point
This is the latest release from Crescent Point, and one that investors should keep note of. On June 30th, shares of CPG stock shot up by around 1.8%. Considering this, is CPG worth watching after the long weekend?
2 More Reddit Penny Stocks to Watch
Are These Reddit Penny Stocks on Your Watchlist?
Finding the best penny stocks on Reddit all comes down to understanding how the market moves. With so many different influences on penny stocks right now, it’s difficult to say where the stock market could be headed in the coming months.
However, if all we are concerned about is the short term, there are plenty of penny stocks showing value. With all of this in mind, are these Reddit penny stocks on your watchlist?