3 Penny Stocks That Are Frequently Mentioned on TikTok
While TikTok may not be the first place that investors go to find penny stocks, it is a popular community for traders of all types. If you’re unfamiliar, TikTok is a social media app dedicated to sharing short videos on any subject.
How to Find Penny Stocks to Buy on TikTok
On the platform, traders come together to discuss penny stocks, cryptocurrency, blue chips, and everything in between. And as a result, many investors use TikTok as a way to begin making a penny stocks watchlist. But, just like Reddit and StockTwits, stocks found on TikTok should be taken with a grain of salt. This means that investors should be wary of the stocks they stumble upon, and be sure to do all the research necessary.
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When looking at a prospective penny stock to buy, investors should always consider a few things. For one, what do its financials look like? Is it profitable? Is it bringing in revenue and EPS? What type and how much debt does it have? While fundamentals are not always as important as speculation with penny stocks, they should still be factored into your decision.
Next, investors should consider the speculative aspects that are impacting a stock. This includes rumors, press releases, social media sentiment, and anything else that could be used as a basis for a bull run. So, with this in mind, let’s take a look at three penny stocks that are frequently mentioned on TikTok.
3 TikTok Penny Stocks to Watch Right Now
- Meta Materials Inc. (NASDAQ: MMAT)
- Advaxis Inc. (NASDAQ: ADXS)
- Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Meta Materials Inc. (NASDAQ: MMAT)
Meta Materials Inc. is a penny stock that has climbed by over 13% in the past five days. But, what’s more impressive is its YTD and one-year gains over 250% and almost 800% respectively. For some context, this company creates various functional materials and nanocomposites and is based in Canada. Its NANOWEB product is a transparent conductive film that has been called revolutionary. And in addition to this, its metaAIR product is eyewear used for laser glare protection.
On October 5th, Meta Materials announced the completion of its acquisition of Nanotech Security Corp. Nanotech is a leader in the development of secure and visually memorable nano-optic security features. These features provide anti-counterfeiting solutions used by government and banknote protection markets. An all-cash transaction of C$1.25 per Nanotech common share was made, for a total value of about C$90.9 million.
“Nanotech’s highly skilled team and well-established, cost-competitive production capability will complement our technology platform enabling a faster scale up into existing applications and position the Company for expansion into new verticals as well.”
The Chairman of the Board, Ram Ramkumar
Only a day ago on November 1st, the company presented at an AWE Panel of leading global experts. Considering all of this exciting news, will MMAT be on your list of penny stocks to watch in November?
Advaxis Inc. (NASDAQ: ADXS)
ADXS stock is another decent gainer, pushing up by around 4% in the past five days. In the YTD and one-year periods, shares of ADXS stock have shot up by over 23% and 52% respectively. While these gains may not be as large as some other meme stocks, they are substantial and worth considering.
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The most recent announcement from the biotech stock came last month when it reported its third-quarter results for the period ending on July 31st, 2021. During the quarter, the company stated that it entered into a definitive merger agreement with Biosight Ltd. to create a public company that will operate as Biosight Therapeutics. The deal includes $50 million in cash when the combined company is completed, which should be in the fourth quarter of 2021.
“We are thrilled by the transformative potential of our proposed merger with Biosight and believe the opportunity to build a diversified clinical pipeline with both early and late-stage oncology assets will benefit both patients and our stockholders.”
Kenneth A. Berlin, the CEO of Advaxis
This is exciting news for the company, and shows just how hard it is working to stay ahead of the game. Considering all of this, do you think that ADXS stock is worth adding to your penny stocks watchlist?
Powerbridge Technologies Co. Ltd. (NASDAQ: PBTS)
Powerbridge Technologies Co. Ltd. Is an interesting penny stock that has made some big strides in the past few months. The company operates as a tech business with hands in both SaaS and blockchain. It offers everything from AI and big data to IoT and cross-border e-commerce/supply chain management. And, its blockchain division known as Powebridge Blockchain engages in Bitcoin and Ethereum mining.
A few weeks ago, the company announced that it had launched crypto mining of these assets in Hong Kong. The mining will take place in an environmentally friendly way, consisting of green and sustainable energy. It states that it will deploy around 2,600 mining rigs which will have a hash-rate of approximately 1,000 GH/s.
“We are very excited about our launch and positioning as a global presence in the cryptocurrency mining business. We expect our high-performance environmental-friendly crypto-mining fleets to significantly accelerate our revenue.”
The President of Powerbridge, Stewart Lor
With the major emphasis on cryptocurrency right now, it makes sense that investors are watching PBTS stock. In the past month, shares of PBTS stock have shot up by over 16%, with a more than 4% gain at midday on November 2nd. With all of this in mind, does it deserve a spot on your watchlist or not?
Are Penny Stocks Worth Buying Right Now?
With so many penny stocks to choose from, it can be hard to pick the best ones for your watchlist. But, with platforms like TikTok and Reddit, finding penny stocks to buy can be much easier.
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As always, investors should make sure to do the right research before investing. This means understanding everything you can about the company before investing. With all of this in mind, which penny stocks do you think are worth buying right now?
