3 Reddit Penny Stocks You Need to Know About Right Now
Reddit penny stocks are extremely popular right now, and it doesn’t look like that will be changing anytime soon. Over the past year and a half, penny stocks mentioned on Reddit have become some of the most talked-about stocks in the industry.
The social media site has become responsible for numerous triple-digit percentage gains among certain penny stocks. And as a result, many investors pay attention to the stocks mentioned on Reddit and other social media sites.
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It’s worth noting that Reddit penny stocks are known for being quite volatile. This means that prices are likely to fluctuate regularly and by large numbers. But, if you invest in penny stocks, you’re likely already used to these large fluctuations.
The best way to take advantage of this is to have a proper trading strategy by your side. This will help to ensure that your portfolio is aligned with your investing goals. With all of this in mind, let’s take a look at three penny stocks on Reddit to watch right now.
3 Penny Stocks on Reddit to Watch Right Now
- ReWalk Robotics Ltd. (NASDAQ: RWLK)
- Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
- Datasea Inc. (NASDAQ: DTSS)
ReWalk Robotics Ltd. (NASDAQ: RWLK)
ReWalk Robotics Ltd. is a penny stock that has seen considerable gains in the past few trading days. Over the last five days alone, shares of RWLK stock have shot up by over 69% to just under $2.20 per share. For some context, ReWalk Robotics is a medical device company that creates wearable robotic exoskeletons. These products are meant for those that have mobility impairments or other medical conditions that would require them. The company offers ReWalk Rehabilitation and ReWalk Personal for spinal cord injuries and daily use for those with similar mobility complications.
Back in August, the company reported its financial results for the second quarter of 2021. In this quarter, ReWalk reported $1.4 million in total revenue. The second quarter marked the fourth consecutive quarter-over-quarter growth for ReWalk. In addition, the company’s cash position has stayed strong totaling $64.2 million.
“The second-quarter results reflect the ongoing reopening of the markets. We are now able to trial many new individuals who had been waiting and filled our pipeline during the pandemic. Our focus on achieving broader coverage in Europe and the United States has also been encouraging.”
CEO of ReWalk, Larry Jasinski
In the past few days, shares of RWLK stock have seen increased momentum. This is the result of the company being mentioned frequently on social media including Reddit and Twitter. With this info in mind, will RWLK be on your list of penny stocks to watch?
Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
Clear Channel Outdoor Holdings Inc. is a company that owns, operates, and sells advertising displays. As of December 2020, Clear Channel held 71,000 advertising displays in the Americas and 430,000 in Europe. Clear Channel sells its advertising services in the form of billboards, posters, transit displays, and street furniture. This company also offers street furniture for advertising, cleaning services, production, and bicycle rental services. As you can see, CCO’s offerings are rather broad. And as a result, shares of CCO stock have shot up by over 12% in the past month.
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Clear Channel Outdoor recently partnered with Hivestack, which is the leading global programmatic digital out-of-home ad tech company. Clear Channel will offer advertisers a way to purchase digital out-of-home inventory programmatically through the Hivestack SSP. This partnership gives Clear Channel the ability to operate PMP buys via Hivestack SSP and Open Exchange through the Hivestack Ad Exchange.
“As programmatic DOOH adoption grows across the U.S. and internationally, we’re excited to work with Hivestack, one of the industry leaders in OOH ad tech, and offer clients a way to drive added reach + impact as a part of their omnichannel plans.”
The SVP, Programmatic at Clear Channel Outdoor Americas, Wade Rifkin
CCO stock has gone up about $0.30 per share in the market since this announcement was made. In the past six months, shares of CCO stock have shot up by over 50% and in the past YTD by over 74%. If we look at the last twelve months, its gain of almost 200% is not only encouraging but also highly stable as well. This is not something we see often with penny stocks. Keeping this information in mind, will CCO be on your penny stock watchlist?
Datasea Inc. (NASDAQ: DTSS)
Datasea Inc. is a tech company that offers smart security solutions. The Chinese-based company is developing 3D security platforms and big data security platforms, as well as safe campus security systems and public community security systems. Its products are sold to schools, scenic attractions, and public communities via its own sales reps, partners, and operating entities.
On September 23rd, the company signed a $3.87 million procurement contract for short messages and 5G multimedia messaging products. Shuhai Zhangxun will provide messaging services to help Liangzi Xuntong reach its clients. These services include access to the short message and 5G multimedia message platforms, an access code to adopt the services, and the telecom gateways of 3 major Chinese mobile operators.
“This procurement contract reflects our ongoing commitment to introduce our products to the market. Our performance has been strong year-to-date, and we have a very competitive product portfolio in 5G Messaging markets.”
CEO of Datasea, Zhixin Liu
It’s worth noting that DTSS has had a shaky few months. After reaching a recent high of over $4.40 in mid-July, shares have since dropped to the $2.09 mark. While it’s difficult to say if DTSS stock can bounce back, we do know that social media has a role in some of its recent movements. Noting the above updates, is DTSS stock worth adding to your watchlist next month?
Which Reddit Penny Stocks Are You Watching?
Finding the best penny stocks to buy on Reddit can be challenging. But, with a commitment to understanding how the market is moving and why investors can have an easier time making money with penny stocks.
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Considering that there are so many penny stocks to choose from, having a trading strategy will always help to put you ahead and keep you ahead. With all of this in mind, which Reddit penny stocks are you watching right now?
