best reddit penny stocks to buy

3 Penny Stocks on Reddit For Retail Traders to Watch in November 

Reddit penny stocks are some of the most popular stocks of 2021. As a result of a massive investor base on Reddit, we have seen major momentum with penny stocks mentioned heavily on the social media platform. Now, it’s not enough to simply find a penny stock on Reddit and hope for the best. 

Rather, investors need to do all the research they can to ensure that the company is worth it. This means looking at balance sheets, press releases, and any information relating to the company or the industry that it is in. Having this information will give you the best chance at understanding if there is money to be made or if it is worth it and at what price. 

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The best investors will always say that the ones with the most information, have the best chance at profitability. And when it comes to the highly speculative penny stocks mentioned on Reddit, this will save you from seeing losses in your portfolio. In addition, investors should understand why the company is trending and if it goes beyond it being mentioned heavily online. 

At times, a company will make an announcement, show a new product, or see a gain sparked by other means. But, understanding why it is trending will give you invaluable insight into its potential. Considering all of this, let’s take a look at three Reddit penny stocks to add to your watchlist right now. 

3 Reddit Penny Stocks to Add to Your Watchlist Right Now 

  1. Federal National Mortgage Association (OTC: FNMA)
  2. Senmiao Technology Limited (NASDAQ: AIHS
  3. Ebang International Holdings Inc. (NASDAQ: EBON

Federal National Mortgage Association (OTC: FNMA)

If you’re familiar with the housing market, you’ve likely heard of Federal National Mortgage Association or Fannie Mae. This company securitizes mortgage loans generated by lenders into Fannie Mae mortgage-backed securities. The Federal National Mortgage Association is divided into two sections: single-family and multifamily. Mortgage banking activities, savings and loan firms, savings banks, commercial banks, credit unions, and others are all served by the company.

On October 19th, Fannie Mae priced a $1.2 billion Connecticut Avenue Securities REMIC Deal. The Series 2021-R01 transaction represents Fannie Mae’s first CAS REMIC transaction this year, with a $1.2 billion note offering. CAS is widely known as the company’s benchmark issuance program for sharing credit risk on its single-family conventional guaranty book of business.

“We are pleased with the execution of CAS 2021-R01, which was met with strong investor demand across all classes. Subject to market conditions, we look forward to returning to market next month with CAS 2021-R02, a high-LTV transaction.”

The Senior VP of Single-Family Capital Markets at Fannie Mae, Devang Doshi

In the last month, FNMA stock has climbed by roughly 20% and in the past five days by around 12%. Based on this info, will you add FNMA to your penny stock watchlist?


Senmiao Technology Limited (NASDAQ: AIHS)

Senmiao Technology Limited is a company that sells automobiles and provides vehicle-related services. The China-based Corporation acts as the facilitator of automotive transactions and financing, connecting ride-hailing drivers to financial institutions, and more. It also sells automobiles and offers the provision of auto finance services.

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On October 26th, the company announced the signing of a cooperation agreement with Sichuan Chengfeng Intelligent Transportation. Chengfeng is a state-owned company focused on passenger transportation, taxis, online ride-hailing, and more. Senmiao will provide operational support services for customized passenger transportation and more. And on the other hand, Chengfeng will provide certifications and resources regarding the vehicles.

“With this cooperation with Chengfeng, Senmiao expects to accelerate the growth of its online ride-hailing business in Neijiang while exploring potential opportunities that would allow for the expansion of our footprint across Sichuan to promote both Senmiao’s and Chengfeng’s interests in technology systems involving digital transformation.”

CEO and President of Senmiao, Xi Wen

In the last month, shares of AIHS stock have climbed by around 20%. Based on this info, will AIHS be on your list of penny stocks to watch?


Ebang International Holdings Inc. (NASDAQ: EBON)

Ebang International Holdings Inc. is a penny stock we have discussed frequently in the past few months due to its consistent market momentum. This company develops integrated circuit chips as well as Bitcoin mining devices. In addition, the company offers mining machine hosting services as well as a range of other offerings related to Bitcoin. Its mining devices are sold to firms in the telecommunications and blockchain industries under the Ebit brand.

On October 1st, Ebang revealed its unaudited financial figures for the first six months of the fiscal year 2021. The company announced that it sold 0.8 million Thash/s of computer power. This represents a 220 percent increase from 0.25 in 2020. Its overall net revenues grew by 65.69% year on year, from $11.04 million to $18.30 million. As a result, its net loss decreased dramatically year over year.

“Up to now, the Company has completed the establishment of the business team and started the preparatory work for the construction of North American and European mining farms in June 2021.

The self-mining business can well offset the negative impact of the plummeting Bitcoin price on the sales of mining machines, thereby further ensuring the Company’s long-term stable and healthy development.”

The Chairman and CEO of Ebang, Mr. Dong Hu

Since this update was released, EBON stock has climbed by around 15% with 5% of that occurring in the last five days. With this in mind, will EBON stock be on your penny stocks watchlist moving forward?


Can You Make Money With Penny Stocks in 2021?

This is a question that most investors will ask themselves before picking any penny stocks to buy. And the short answer is that it all depends on your unique investing style and your goals as an investor.

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If you have a proper trading strategy and all the information you can gather regarding a company, your chances will increase greatly. But, with penny stocks, there is always risk no matter what. So, mitigating that risk with information will help in the long run. Considering this, do you think that making money with penny stocks is possible in 2021?

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