penny stocks on reddit to buy

4 Reddit Penny Stocks to Watch Right Now 

Reddit is one of the hottest places to find penny stocks in 2021. And with so many penny stocks discussed on Reddit daily, it can be challenging to understand which could be the best for your watchlist. But, there are a few things to consider that might make it easier. For one, penny stocks on Reddit tend to be highly volatile. 

While penny stocks on their own fluctuate greatly, adding in the layer of Reddit tends to make them move even more frequently. If you’re a seasoned trader with years of experience, the frequency that penny stocks move could be an advantage. However, if you’re relatively new, it could lead to decent-sized losses in a short time frame. So, understand your trading strategy, and use that to your advantage. 

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The next thing to consider is that FOMO should never get in the way of your investing. If a penny stock has shot up dramatically, it’s likely that it will correct in the short term. And, those who hop on after the initial burst, will likely end up losing in the long run. So, keep a close eye on your holdings, and try to find penny stocks on Reddit before they pop off. 

Lastly, research should always be the backbone of your trading strategy. With so many companies mentioned on Reddit, investors need to take the time to understand each and every one. This will help you to avoid the losers and focus only on the winners. Considering all of this, let’s take a look at three penny stocks on Reddit that exploded big today. 

4 Penny Stocks on Reddit That Exploded Today 

  1. PetVivo Holdings Inc. (NASDAQ: PETV
  2. Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
  3. Verastem Inc. (NASDAQ: VSTM)  
  4. NexGen Energy Ltd. (NYSE: NXE

PetVivo Holdings (NASDAQ: PETV)

This month has started with a clear trend. That is one having traders searching for potential “short squeeze” and “low float” penny stocks to watch. What are the criteria? Usually, it involves a lower float under 20 million shares, and if that number isn’t readily available, traders are looking for lower outstanding share counts to justify lower floats. In this case, PetVivo could be on that list especially considering it has less than 10 million shares outstanding. From a business perspective, PetVivo hasn’t been very vocal this year until recently.

The company closed a public offering for around $11.25 million. It also brought on new leadership. This included new Directors of Marketing and Sales. PetVivo is a medical device company commercializing products for pets. It has a portfolio of 21 patents as well. PetVivo’s lead product, SPRYNG in an injection for treating osteoarthritis in dogs and horses. It’s also scheduled for broader commercial sales later this year. To the addition of new sales & marketing, directors could be well-timed for the company.  

On top of this, recent insider buying has also helped boost sentiment in the stock market. At the end of August, Director James Martin added to his growing position in the company. Though the purchase was for just 2,000 shares, it brought Martin’s total direct holdings to over 76,000 so far. With the company seemingly beefing up its leadership in anticipation of expanded commercialization this year, as well as interest from the market in low float penny stocks, PETV stock could be one to watch right now.

Penny_Stocks_to_Watch_PetVivo_Holdings_Inc_PETV_Stock_Chart

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) 

One of the decent gainers of the day so far is SHIP stock, pushing up by over 7%. This brings SHIP stock’s gains for the past month to almost 30% and YTD by over 150%. So, why is Seanergy moving in a bullish direction right now? Well, to understand this, let’s take a closer look at the company. 

Seanergy is a pure-play Capesize ship-owner that provides dry-bulk shipping around the world. Once all of its vessels are fully delivered, it will have a sizable fleet of 16 ships. These ships are also relatively new with an average age of 11.4 years. Over the past year and a half, the shipping industry has garnered a lot of attention as a result of increased retail sales and e-commerce during the pandemic. 

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And, as the pandemic lessens in severity, many large construction projects have resumed around the world. This means that the need for dry-bulk goods such as the one’s Seanergy transports is higher. A few weeks ago, Seanergy announced a share repurchasing plan for up to $17 million worth of outstanding shares. This represents around 10% of its market cap as of mid-August. 

“We believe that the share price and the market value of Seanergy are currently significantly undervalued both in terms of the underlying asset or equity value of the Company and also in terms of our solid ability to generate earnings in the current market environment. Considering this, we feel that a share buyback is the correct and well-timed capital allocation decision.”

Stamatis Tsantanis, CEO of Seanergy

This is a major positive for both the company and investors alike. With that in mind, will SHIP stock be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Seanergy_Maritime_Holdings_Corp_SHIP_Stock

Verastem Inc. (NASDAQ:VSTM)

Shares of Verastem Inc. have steadily bounced back over the last few weeks. However, notice the “pullback” actually takes it back to a level VSTM stock traded at in May. This evidently was also the high of the year at the time. Shares went on a parabolic rally to nearly $5 as you’ll also see.

But this pullback – in the grand scheme of things – falls in line with the trend from the first 5 months of the year, in my opinion. Needless to say, volume has recently picked up as VSTM shares continued higher in August. The penny stock also appears to be trying to break back above the 200 day moving average on the chart.

All technicals aside, Verastem is obviously more than just a penny stock. The company is developing cancer treatments. In particular, its current focus is on ovarian cancer. Verastem’s VS-6766 combined with the company’s defactinib received Breakthrough Therapy Designation for treating recurrent low-grade serous ovarian cancer.

This has become a focal point for traders. That’s especially true since updated results from its current Phase 1/2 FRAME study of VS-6766 and defactinib were selected for a mini-presentation at the European Society of Medical Oncology. Since the event isn’t until September 19th, there could be some speculative momentum to monitor.

What’s more, as shares of VSTM stock have climbed higher, excitement in small-cap stocks & biotech, in general, have acted as potential tailwinds as well. With upcoming events and technical trends taking hold, VSTM could be on the list of penny stocks to watch right now.

Penny_Stocks_to_Watch_Verastem_Inc._(VSTM_Stock_Chart)

NexGen Energy Inc. (NYSE: NXE) 

Shares of NXE stock managed to push up by over 10% during trading today. This brings its five-day gain to over 29% and upwards of 200% in the past twelve months. While NXE stock is technically not a penny stock at over $5.40 per share, it was only one trading day ago. 

And, with its both sizable and stable gain in the past few weeks, NXE stock is worth taking a closer look at. NexGen Energy is a mining penny stock working on extracting uranium ore. The company’s focus is on the Athabasca Basin, Saskatchewan, Canada, which is an area with a high concentration of uranium. 

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 It is currently developing the Rook I Project, which has a measured resource amount of roughly 209.6 M lbs of U308 uranium. The big emphasis on uranium right now surrounds the greater popularity of the renewable energy industry. Because uranium is an extremely efficient source of clean power, many investors see a bright future in it. Considering this, is NXE worth adding to your penny stocks watchlist in 2021?

Penny_Stocks_to_Watch_NexGen_Energy_Ltd._(NXE_Stock_Chart)

Which Reddit Penny Stocks Are You Watching in 2021?

Finding the best penny stocks to buy on Reddit is all about understanding where the next big moves will be made. And while it is impossible to predict the future, investors can work hard to gain an understanding of which companies may have a chance at taking off. Considering this, which Reddit penny stocks are on your watchlist in 2021?


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