3 Penny Stocks on Reddit to Watch in 2021
Reddit has become a key instigator for the growth of certain penny stocks. Many refer to stocks that grow as a result of Reddit or other social media sites as ‘meme stocks’. Meme stocks can be either penny stocks or blue chips and can see double or even triple-digit percentage gains in only a short period.
It’s important to understand whether you’re comfortable with this level of volatility as Reddit penny stocks tend to be some of the most volatile ones out there. But, they also do carry a lot of potential to make money with penny stocks that are trending.
While finding Reddit penny stocks before they pop off can be difficult, it can be much easier with a commitment to research and getting a trading education. Considering all of this, let’s take a look at three penny stocks on Reddit to watch in 2021.
Read more: How To Buy Penny Stocks
3 Reddit Penny Stocks to Watch Right Now
Darkpulse Inc. (OTC: DPLS)
Darkpulse Inc. Is a tech penny stock that investors have been eyeing for the past few weeks. With over 400% in gains in the last six months alone, DPLS has made headlines several times during that period. This company is primarily focused on the manufacturing, installation, and sale of laser sensing systems. This is based on its unique BOTDA dark-pulse sensor technology.
The patented technology provides a data stream of key metrics for later analysis of the health and security of infrastructure. Many investors are looking for innovative companies right now to play the budding tech industry. And, Darkpulse is definitely an interesting tech stock to take a look at.
This past week Darkpulse announced its plan to appoint the former VP of Rolls Royce, Kari Williams, to Optilan’s Executive Team as Sales & Marketing Director. For some context, Optilan is a subsidiary of Darkpulse that has been making major headway as of late.
“I am delighted that someone of Kari’s caliber has joined Optilan. As a dynamic, experienced leader in bringing powerful global brands to international markets, Kari will be invaluable addition and will help to envision the future for Optilan. Kari’s appointment represents a key part of our overall strategy to provide a strong customer focus.”Bill Bayliss, CEO of Optilan
Considering all of this exciting news and the bullish sentiment surrounding DPLS stock right now, it makes sense that investors are paying attention. So, with a lot in the works, will DPLS make your penny stocks watchlist in September?
Zomedica Corp. (NYSE: ZOM)
Another penny stock that investors have been watching recently is Zomedica Corp. In the past month, shares of ZOM stock have increased by over 5%, bringing its YTD gain to over 68%. It’s worth noting that in the past twelve months, shares of ZOM stock have skyrocketed by over 430%, which is quite a sizable gain. For some context, this company is working toward improving animal health diagnostics. Zomedica’s main product right now is known as TRUFORMA. The TRUFORMA platform is in use to help diagnose and detect animal thyroid cancers.
With a previous high of over $2.50 back in February, some investors believe that ZOM could still have room to run. And at a current price of $0.59, it’s up to you to determine if that is true or not. But, with higher rates of animal adoption during the pandemic, there is no doubt that the veterinary health industry is increasing in market size right now.
It’s worth noting that ZOM is also widely regarded as a “meme stock”. For those unfamiliar, meme stocks are companies that increase in value due to social media trends. As a result of applications such as Reddit and Twitter, ZOM has had several trading days with double-digit percentage gains in the past few months. It’s worth noting that ZOM stock is quite volatile. And at its price of well under a dollar, this is for the most part to be expected. But, if you’re looking for an interesting penny stock for your list, ZOM could be worth giving a first or second look.
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a recent addition to the Reddit penny stocks roster. With 33% in gains today, FAMI stock presents a clear case for how quickly social media can have an impact on penny stocks. It’s worth noting that we have covered FAMI stock plenty of times in the past few weeks. This is the result of both its large price movements and constant mentions across social media.
For those who have not heard of this company, Farmmi grows and sells produce products such as edible fungi, shiitake, and mushrooms. Most of its products are sold on its Farmmi Jicai virtual store, however, it also exports its products around the world. This online platform also offers other in-house brands such as Forasen and Farmmi Liangpin. Recently, FAMI announced that it won a sizable export order for dried whole Shiitake mushrooms in Southwest Asia.
“Our latest win comes from one of our long-term customers, with a far-reaching business network. By successfully supporting such important relationships, we are able to leverage our many partners’ logistics investments and established distribution networks.
This allows us to focus on our direct farm and collective networks to ensure we have adequate supply on hand to meet increased customer demand for our high-quality agricultural products.”CEO and Chairwoman of Farmmi, Ms. Yefang Zhang
This is big news for the company as orders always are. And, it could help to increase the rate of adoption of mushroom export around the world and in Asia specifically. Considering all of this exciting news, will FAMI stock make your list of penny stocks to watch in September?
Are Reddit Penny Stocks Worth Buying or Not?
Finding penny stocks on Reddit has become a popular way to locate trending stocks in the past six months. But, with so many to choose from, it can also be quite difficult to find penny stocks that are worth buying.
In order to do so, traders should commit to researching and understanding exactly what is going on with a specific industry or penny stock. With all of that in mind, do you think that Reddit penny stocks are worth buying or not?