3 Reddit Penny Stocks For Your Watchlist Right Now
Reddit penny stocks have gained a great deal of popularity over the past six months or so. While this began with the GME stock trading fiasco, it quickly evolved into a commonplace occurrence. If you’re unfamiliar, Reddit is a popular social media platform that many investors use to discuss both blue chips and penny stocks. It offers forums where individuals can comment and congregate on essentially any topic out there.
On Reddit, there are hundreds of communities known as ‘Subreddits’ that operate as melting pots for traders of all types. And the recent phenomenon of traders coming together to collectively buy or sell penny stocks means that volatility is abound. And as with any fluctuations in value, there is potential for investors to capitalize.
However, it should be well known that these penny stocks tend to move very frequently, and can often result in large losses if one is not careful. However, by staying up to date with all the latest happenings in the stock market, investors can stay one step ahead of the competition.
And in 2021, it’s all about understanding and finding the most current and applicable information. Considering that there are so many events going on simultaneously with penny stocks right now, investors should also understand their own tolerance for risk. With all of this in mind, let’s take a look at three Reddit penny stocks for your watchlist right now.
Read more: How To Buy Penny Stocks
3 Reddit Penny Stocks to Watch in August 2021
Aehr Test Systems (NASDAQ: AEHR)
Aehr Test Systems is a tech penny stock that sells products to companies in the semiconductor industry. The company creates test and burn-in equipment and is involved in the design, engineering, and sale of these products. Its products include WaferPak, DiePak, FOX systems, and more. These goods are sold to semiconductor contract assemblers, test service companies, and other related semiconductor corporations. In the past six months, the demand for semiconductors has skyrocketed tremendously. With low-supply and high-demand, we see a clear reason for the rise in value of AEHR stock.
On July 19th, Aehr received a $10.8 million order for production test and burn-in of silicon carbide power semiconductors. These products will be in use for electric vehicles. The company’s President and CEO, Gayn Erickson said, “These follow-on orders for additional FOX-XP systems and WaferPaks are the result of our working closely with this lead customer to achieve their test requirements and validation of our FOX-P platform and WaferPak full wafer contactors as their production qualified solution.”
Aehr Test Systems expects the buyer to forecast orders for multiple additional FOX systems and WaferPak Contactors this fiscal year, and other products in years to come. This news has been huge for Aehr Test Systems. The company’s stock price one month ago, before the announcement, was at $3.39 per share on average. Now as of August 2nd, AEHR stock is at $5.75 per share on average. Keeping this in mind, will AEHR make it on to your list of penny stocks to watch?
Orbital Energy Group Inc. (NASDAQ: OEG)
Orbital Energy Group Inc. is an energy penny stock that is going up in the market today. This company’s main focus is on electric power and infrastructure solutions. Orbital additionally offers solar power infrastructure as well, which has become a major market in the past few years.
It engineers, creates, and sells electric power transmission and distribution infrastructure, which makes it a vertically integrated operation. In addition to this, the company states that its tech is in use across many different aspects of the energy industry. On August 2nd, it was announced that Orbital’s subsidiary, Gibson Technical Services, acquired IMMCO Inc., a privately owned engineering company.
“IMMCO is recognized in the telecommunications industry for their expertise in engineering, software development, and enterprise solutions. This transaction is consistent with OEG’s tuck-in acquisition strategy.
Specifically, it will provide significant synergies to our telecom platform, GTS, by expanding the depth and breadth of the customer solutions we provide in a market with significant multi-year momentum driven by the rollout of 5G spectrum.”he CEO and Vice-Chairman of OEG, Jim O’Neil
On the same day that this announcement occurred, OEG stock went up by 4.1% in the market. This positive advancement made by the company seems to have interested investors. As the world turns towards more sustainability, Orbital’s products have become more in demand. From the U.S. government to major corporations, it seems like everyone is leaning towards a more sustainable planet. With all of this in mind, will OEG enter your watchlist in August?
SOS Limited (NYSE: SOS)
SOS Limited is a tech penny stock we have discussed frequently in the past few months. This is due to its constant momentum in the stock market and trending nature. This company provides data mining and data analysis services in China and works in the emerging blockchain industry as well. Its services are provided to corporations, but also individuals. Specifically, some of its solutions include those used in marketing, technology, emergency rescue, data, and much more.
At the end of June, SOS Limited entered a joint venture agreement with Niagara Development LLC. This joint venture is for a large cryptocurrency mining operation and the power supply needed. The companies also expect to construct a digital supercomputing custody operating center at the same location. Niagara Development will provide up to 150MW of electricity for the project.
“SOS continues to increase its development of comprehensive blockchain solutions for digital trade, digital finance, and other industries. We decided to acquire a sustainable power supply as far as possible, as we expand our blockchain operations into North America and look forward to successful operation of the joint venture.”The Chairman of SOS, Yandai Wang
Keeping SOS Limited’s recent update in mind, will you add it to your watchlist?
Are Reddit Penny Stocks Worth It?
Finding the best penny stocks on Reddit is all about understanding where to look. While it can be difficult to stay on top of the next trending penny stocks, by researching and understanding what to look for, investors can attempt to do so. Considering all of this, do you think that Reddit penny stocks are worth it or not?