3 Penny Stocks on Reddit For Your Watchlist Next Month
Reddit is one of the most popular places that investors find penny stocks to buy in 2021. And, there are a few good reasons for that. For one, Reddit is aptly known as ‘the front page of the internet.’ And as a result, many of those who trade penny stocks or blue chips, head to the site to communicate with other traders. This results in certain penny stocks becoming trending, and therefore, seeing large intraday gains or losses.
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But, we have to remember that Reddit is also a breeding ground for volatility. This means that when a stock is discussed frequently on the social media site, it will likely see major volume increases and subsequent up and downtrends. So, those who wish to find Reddit penny stocks to buy, should not only be careful, but they should make sure that the high level of volatility aligns with their portfolios.
Additionally, if we consider the sheer number of penny stocks that are discussed on Reddit, it can be difficult to come across only a handful for your list. So, with all of that in mind, let’s take a look at three Reddit penny stocks to watch next month.
3 Reddit Penny Stocks to Watch Right Now
- Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
- Remark Holdings Inc. (NASDAQ: MARK)
- Globalstar Inc. (NYSE: GSAT)
Kaival Brands Innovations Group Inc. (NASDAQ: KAVL)
Kaival Brands innovations Group Inc. is a penny stock that has climbed by over 11% in the past five days. For some context, this company distributes electronic nicotine delivery systems. One of its products is Bidi Stick, which is a disposable and tamper-resistant product with many flavor options. In addition, its Bidi Pouch product contains natural fibers, which are highly popular among customers. These products are sold to retail and nonretail customers through its website.
On October 27th, the U.S. Food and Drug Administration entered an administrative stay of Bidi Vapor’s marketing denial order for flavored ENFS. Kaival asked the FDA to reconsider its MDO based on the scientific evidence in its applications. It is also seeking a judicial stay of the MDO within the 11th Circuit Court of Appeals.
“As we explained to the Agency, Bidi Vapor submitted scientifically rigorous PMTAs that contained product-specific evidence demonstrating that the added benefit of our flavored BIDI® Sticks to adult smokers outweighs any potential risks to youth, especially considering our stringent youth-access prevention measures and commitment to mature, adult-focused marketing.”
The CEO of Kaival Brands, Niraj Patel
Based on this new information, will KAVL make it on to your list of penny stocks to watch?
Remark Holdings Inc. (NASDAQ: MARK)
Remark Holdings inc. is a communications company that has made some major strides in the past few trading days. Up 11% today, shares of MARK stock have climbed by over 90% in the past month. If you’re not familiar, this company makes AI-based solutions for businesses. Currently, it is operating an e-commerce digital media property among its other business prospects. The company also sells AI-based products and services under the Remark brand name in the U.S. and KanKan brand name in China.
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On October 12th, the company’s brand KanKan launched an upgraded AI platform for campus management. This program is intended to meet reform and tech requirements in China. With this update, Remark also announced the expansion of its distributor network adding 5 additional resellers. Its goal is to install this platform in more than 3,000 schools so far making this a big deal.
“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 Chairman and CEO of Remark, Kai-Shing Tao
Remark has plans to improve its business over the course of the next year. Based on this, will MARK stock be on your penny stocks watchlist?
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a penny stock that has continued to receive market attention over the past few months. GSAT is a communications company that provides mobile satellite services and products. Its services include mobile voice and data satellite communications and equipment for remote business continuity. It also provides services for emergency response and preparedness, recreational usage, residential site, and more. Its SPOT retail products include GPS trackers, anti-theft trackers, among many more features.
When reports surfaced a few weeks ago that the iPhone 13 may have satellite capabilities, many thought GSAT would be the obvious choice to supply the products. After the news came out that the new iPhone would not have satellite connectivity, shares of GSAT stock quickly corrected. However, all rumors aside, Globalstar does have an interesting and potentially valuable business that investors could take advantage of.
With its gains of over 360% since the beginning of the year, many traders continue to show interest in the company. But, the rumors that came out and their subsequent effects on GSAT stock are slightly concerning. For this reason, investors should ensure that they have a high tolerance for volatility if interested in GSAT stock. Moving forward, does Globalstar deserve a spot on your watchlist in November?
Are Reddit Penny Stocks Profitable?
Finding the best Reddit penny stocks to buy can be challenging. But, with so many to choose from, it can be much easier than previously imagined. With the right research on hand and a commitment to understanding which way the market is headed, making money with Reddit penny stocks can be entirely possible.
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However, traders should always have a thorough understanding of their own tolerance for risk and investing strategy. Because there is so much movement in the stock market in 2021, this is extremely important when it comes to avoiding losses. With all of that in mind, do you think that Reddit penny stocks are profitable or not?
