3 Hot Reddit Penny Stocks to Watch in October 2021
Reddit has become synonymous with many major gaining penny stocks in the past six months or so. Again today, we saw big names like CEI stock and FAMI stock shoot up by over 6% and 41% by EOD respectively.
Now, it’s worth noting that gains like this do happen, and they can happen relatively often with penny stocks. This is the result of massive speculation on Reddit and the resulting sentiment that spreads across social media. In the case of CEI stock, shares have skyrocketed by over 520% in the past month. This is a staggering gain, and one that is due to both the company itself, and mostly the influence of meme stock culture.
If you’re unfamiliar, a meme stock is a stock that is frequently trending, and can push up as a result of its status online. In addition, other factors come in such as its short float percentage and whether or not the company has made any announcements in the past few months. However, the majority of the movement with meme stocks tends to be the result of high speculation.
For this reason, staying up to date with as much information as you can, will help to put you ahead of the game with penny stocks on Reddit. And in 2021, the investor that is the most informed, is the investor with the best chance of making money with penny stocks. Considering all of this, let’s take a look at three penny stocks on Reddit that you should check out right now.
3 Penny Stocks on Reddit to Watch in October
- Ambev S.A. (NYSE: ABEV)
- Senseonics Holdings Inc. (NYSE: SENS)
- Seelos Therapeutics Inc. (NASDAQ: SEEL)
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a company that sells beer, soft drinks, and a large variety of other beverage products. In addition to beverages, the company distributes and sells food products which helps to round out its offerings. If you’re not familiar with Ambev, you likely have heard of the brands it represents. This includes Budweiser, Bud Light, Stella Artois, and Corona among many others. It also sells non-alcoholic beverages under the Lipton, Pepsi, Gatorade, Seven Up brand names.
The latest update from the company came in July when it provided an earnings and operations update for the second quarter of 2021. In this period, its net revenue increased by about 36%. Its normalized profit also increased year over year by a whopping 116%. These numbers are very encouraging, and show sizable growth potential for Ambev.
Currently, Ambev is still experiencing some struggles because of the pandemic, but these are shrinking as the world pushes towards a more “normal” state. It’s worth noting that in times of both economic prosperity and hardship, alcohol sales tend to be high. As a result, we could continue to see demand for Ambev’s products rise.
In the past twelve months, shares of ABEV stock have climbed by around 23%. This may not seem like much when compared to other penny stocks, however, it does look like we’re witnessing a bullish turnaround right now. Considering this, does ABEV stock deserve a spot on your penny stocks watchlist?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings inc. is a biotech company that creates glucose monitoring systems for diabetes patients. The company is involved in both the development and commercialization of these products. Currently, Senseonics offers the Eversense and Eversense XL CGM systems to measure glucose levels. It does this via an under-skin sensor, a removable and rechargeable smart transmitter, and a real-time updating mobile application. These products are sold to healthcare providers and patients through distributors and fulfillment partners.
On September 13th, the company announced a collaboration with the University Hospitals Accountable Care Organization (UHACO) in Ohio. The UHACO’s purpose is to improve the health and wellness of employees and dependents enrolled in a UH employee medical plan. UHACO has started offering the Eversense CGM System to its Medicare enrollees as of earlier this month. The system will be used in patients with type 1 and type 2 diabetes patients that are on insulin.
Head of Endocrinology and Diabetes at UHACO, Betul Hatipoglu, M.D. said, “We are excited to offer Eversense to our ACO patients with diabetes. Supplying tools for effective glucose management allows us to meet the Standards of Care for patients using insulin as outlined by the American Diabetes Association.” It will be interesting to see what results come from this partnership. For now, will SENS stock be on your watchlist in October?
Seelos Therapeutics Inc. (NASDAQ: SEEL)
Seelos Therapeutics Inc. is a biotech company that creates therapeutics and novel technologies to treat the respiratory system, central nervous system, and more. One of its lead programs is SLS-002 which is for treating acute suicidal ideation and behavior in patients with major depressive disorders. Seelos also has SLS-007 which is for treating patients with PD, and SLS-006 for treating those with Parkinson’s disease among many others.
Recently news broke that the FDA has approved the addition of SLS-005 regimen in the HEALEY ALS trial. The treatments that enter the platform trial are picked by expert ALS scientists and members of the Healey Center Science Advisory Committee. Investigators from the trial design committee worked with Seelos to include the Phase 2b/3 trial on the platform.
“The addition of the fifth regimen continues this new approach of more rapidly testing new therapies for people with ALS. We are grateful to all the foundations and individuals who support the HEALEY ALS Platform Trial”.Merit Cudkowicz, MD, The Principal Investigator of the HEALEY ALS Platform Trial
This is the latest update that has come from Seelos Therapeutics. In the last month, SEEL stock has gone up by over 14% and in the past twelve months by over 150%. The company’s volume has also been much higher than average recently. Keeping this in mind, is SEEL stock worth adding to your penny stock watchlist this week?
Are Reddit Penny Stocks Worth Buying or Not?
Finding the best penny stocks to buy on Reddit can be tricky. And, investors should understand that when penny stocks are mentioned on Reddit, they tend to move very fast. This means that traders should be comfortable with large price swings while staying up to date on what that movement is.
And with so much going on in the stock market right now, having a trading strategy will help to keep you ahead. Considering that, do you think that Reddit penny stocks are worth it or not?