3 Penny Stocks That Are Trending on Reddit Right Now
If you’re looking for the best penny stocks to buy, Reddit can be a great resource to use. But, those who want to buy penny stocks according to Reddit, should understand a few things. For one, penny stocks discussed frequently on Reddit tend to be some of the most volatile out there. This is par for the course and is something that traders are used to at this point.
But, if you can catch it early enough and sell before it drops, there is plenty of opportunities to make money with penny stocks on Reddit. The next thing to consider is your own tolerance for risk. Because penny stocks, in general, tend to be quite risky, many investors choose to find more stable stocks.
However, when we factor in the effects of Reddit, we see that they can become even more speculative. So, know what your investing style is, and make sure that the stocks you’re interested in, align with your goals. Considering all of this, let’s take a look at three Reddit penny stocks that are trending right now.
3 Reddit Penny Stocks That Are Trending in October
- Grom Social Enterprises Inc. (NASDAQ: GROM)
- Inuvo Inc. (NYSE: INUV)
- Remark Holdings Inc. (NASDAQ: MARK)
Grom Social Enterprises Inc. (NASDAQ: GROM)
Grom Social Enterprises Inc. is a communications penny stock that managed to climb by almost 30% by EOD on October 22nd. This brings its one month gain to a staggering 125%. If you’re not familiar, Grom is a company that offers media, technology, and entertainment products. Currently, the company operates a social media network targeted towards children that are under 13 years old called Grom Social. It additionally offers animated films and television series. For schools and government agencies, Grom provides web filtering services which adds to its large portfolio.
On October 22nd, Grom announced that Grom Social has added several new in-app safety features to give parents of its user’s complete control over their kid’s personal information. It also provides parents the ability for parents to better monitor their child’s activity when posting, chatting, and sharing things on the platform. These features were previously only available on the parental companion app, but are now available in the app itself.
“The digital universe was not built with kids in mind so Grom Social was created to ensure that kids can enjoy the fun of social media in a safe, monitored, and protected environment that invites parents to play an active role in their child’s experience”.The Chairman of Grom Social, Darren Marks
Based on this new info, GROM stock has gone up in the market, and its volume is might higher than normal. Considering this, will GROM stock be on your October watchlist?
Inuvo Inc. (NYSE: INUV)
Inuvo Inc. is a tech penny stock that is moving upwards in the market today. It’s worth noting that in the past year, shares of INUV stock have climbed by over 80%, which is no small feat. This company offers information technology solutions for companies and clients. It is involved in the development and sale of these products. Inuvo’s platforms reach online audiences for various products or services across many devices and formats. Its ValidClick offering provides marketing services online and indirectly to advertisers. It also has multiple websites that create content in health, finance, careers, auto, and more.
On October 13th, the company announced its preliminary third-quarter results for 2021. Inuvo’s preliminary unaudited revenue totaled an estimated $16.5 million which is an increase of 79% year over year. This is also 31% higher than the previous quarter in the market. Inuvo expects its Validclick and IntentKey revenues to be up 21% and 62% respectively as well.
“Our growth rate accelerated in the third quarter with exceptional year-over-year and quarter-over-quarter performance across both product lines. September was a particularly strong month for new business contracts, which would suggest continued growth throughout the remainder of the year and a return to positive adjusted EBITDA within the fourth quarter of 2021.”The CEO of Inuvo, Rich Howe
Up 1.3% in the market on October 22nd, will INUV make your penny stock watchlist?
Remark Holdings Inc. (NASDAQ: MARK)
One of the biggest gainers of the day so far is MARK stock. By EOD, shares of MARK had shot up by a staggering 138% to over $2.15 per share. This gives it a five-day gain of over 140%, which is quite substantial. It’s difficult to pinpoint just why MARK stock shot up so heavily during today’s trading, but we can deduce a few reasons.
First and foremost, Remark is widely regarded as being a Reddit stock. This means that it has been heavily trending online for the past week or so. The most recent news from the company came on October 12th when it announced the launch of its updated AI platform for Campus Management. The goal with this is to meet the tech needs of its customers in China. And, it states that it wishes to install its platform in over 3,000 schools, which could bring in more than $18 million.
“For the past two years, our engineers have been developing a proprietary platform to help automate certain repetitive functions previously performed by teachers and administrators in each school district.
We have deployed initial systems in more than 300 schools across China, including 135 schools in Hangzhou City, covering 70% of the schools in the Xihu District of Hangzhou, while undertaking the construction of the relevant platform for the Xihu District’s Education Department.”The CEO of Remark Holdings, Kai-Shing Tao
This is a very exciting announcement, and one that could help to explain its recent momentum. However, the most likely cause of the movement today could be sympathy momentum alongside several other big gainers. With all of this in mind, does MARK stock deserve a spot on your list of penny stocks?
Are Reddit Penny Stocks Right For You?
Finding the best penny stocks to buy on Reddit can be a challenge. But, with the right research and commitment to understanding how to trade penny stocks, it can be much easier than previously imagined.
If we consider that Reddit penny stocks tend to be highly volatile, we see that there is a lot of inherent risk involved. However, this risk can be mitigated with the right information by your side. Considering all of this, are Reddit penny stocks right for you?