Are These Reddit Penny Stocks on Your Small-Caps List?
Reddit has become one of the most popular places for penny stocks investors to get together. If you’re unfamiliar, Reddit is a social media site that allows people to discuss almost any topic imaginable.
And due to the surge in retail traders, Reddit is now an invaluable resource where traders talk about penny stocks they’re interested in, those that should be avoided, and so on. Reddit is also responsible for many of the largest rallies we’ve seen with small-caps in the past year or so. And as a result, stocks mentioned on Reddit are worth discussing.
One thing that investors should consider is that the same stocks that shoot up because of Reddit, can also shoot down just as dramatically. This means that if you’re not careful, it can be extremely easy to lose money with penny stocks on Reddit. The best way to avoid this is with thorough research and a strong trading strategy.
Any pro-trader will tell you that understanding your own investing style and utilizing that every day, will help to bring in consistent profits. While it’s difficult to find penny stocks on Reddit before they explode, there are ways to do so. In addition, investors can use Reddit as a place to get trading ideas. So, considering all of this, let’s take a look at three to watch right now.
3 Penny Stocks on Reddit to Watch Right Now
- Genius Brands International Inc. (NASDAQ: GNUS)
- Ideanomics Inc. (NASDAQ: IDEX)
- Senseonics Holdings Inc. (NYSE: SENS)
Genius Brands International Inc. (NASDAQ: GNUS)
Genius Brands International is a content creation and licensing company. Some of the assets that are owned by the company include SpacePop, Llama Llama, Warren Buffet’s Secret Millionaire’s Club. Genius Brands’ material is aimed towards children ranging in age from toddlers to tweens. This market has grown substantially during the pandemic as a result of at-home schooling and the need for entertainment.
On November 15th, Genius Brands filed its Form 10-Q for the period ending September 30th, 2021. In this filing, the company announced that its revenue increased by 585% year over year compared to 2020. Genius had $130.2 million in cash and cash equivalents as well as marketable securities. The company also saw a 512% sequential increase in its Application Installs quarter over quarter for its Kartoon Channel!. These are very large increases and show just how much the company is growing right now. Despite this, in the past month, shares have gone down by around 9%.
In other recent news, Genius acquired WOW! Unlimited Media and the acquisition is going as planned. WOW!’s last 12 months of revenues came in at over $56 million. This acquisition will grow its LTM Pro-forma revenue by more than 1100%. In the past few days, shares of GNUS stock have been creeping up, indicating a small amount of bullish sentiment. Based on the new info, will GNUS be on your list of penny stocks to watch?
Ideanomics Inc. (NASDAQ: IDEX)
Ideanomics Inc. is an industrial company we have mentioned several times in the last few months. This is a company focused on the adoption of commercial electric vehicles and groundbreaking fintech solutions. The company offers vehicle procurement, related energy consumption products such as chargers, and financial services. Its Ideanomics Mobility section is focused on the adoption of EVs by commercial fleet operators.
On November 12th, the company announced its new JUSTLY Markets platform for transparent ESG-based investing and fundraising. Ideanomics has appointed Paul Karlsson-Willis as the CEO. JUSTLY is an equity crowdfunding platform for investors to find and invest in early-growth private companies and startups. The investment prices start at just $100 for this platform.
“Going forward, we aim to grow our platform significantly through investors and founders, and the companies who currently feel passionately and want to act on their civic responsibility to better our planet. I am pleased to welcome Paul to the Ideanomics team as the CEO of JUSTLY and want to congratulate them on the powerful and compelling new branding work.”The CEO of Ideanomics, Alf Poor
With this new announcement in mind, will IDEX make your penny stock watchlist this month?
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech penny stock that is up 4.68% today and over 300% in the past YTD period. This company creates continuous glucose monitoring systems (CGMs) for those with diabetes. Senseonics is involved in the commercialization and development of these products. Primarily, Senseonics offers the Eversense and Eversense XL implantable CGM system. The Eversense can measure glucose levels using an under-skin sensor, a smart transmitter, and an app to track the data in real-time.
On November 9th, Senseonics released its financial results for the third quarter of 2021. During this timeframe, the company’s revenue was reported at $3.5 million. This represented a significant improvement over the $0.8 million reported over the same period in 2020. The growth occurred as a result of Ascensia’s commercial responsibilities for Eversense and its orders for distribution in the European Union and the United States. Currently, the FDA is reviewing the company’s Eversense 180-day PMA supplement application.
“We are encouraged by the excitement demonstrated by patients and HCPs for the 180-day sensor in the US and we are pleased with the progression of the review and are hopeful the FDA will reach an approval decision in the coming months based on the positive PROMISE Study results. We look forward to launching the new system shortly after approval.”President and CEO of Senseonics, Tim Goodnow, Ph.D.
With its sizable momentum during this year, it’s no wonder that investors are watching SENS stock right now. Noting this new info, will SENS be on your list of penny stocks to watch?
Are Reddit Penny Stocks Worth Buying in 2021?
Finding penny stocks to buy on Reddit can be challenging. But, with hundreds of penny stocks to choose from overall, the opportunities to make money with small-caps are large. The best way to do so is a mixture between having a trading strategy and being able to spot value with a thorough amount of research to back it. As a result, it can be much easier to avoid losing money with small-caps.
In addition, investors should always consider what’s going on in the world and how that can affect the stock market at large, and their portfolios. Because penny stocks are so speculative, this is always an important factor to consider. With all of this in mind, do you think that Reddit penny stocks are worth buying in 2021 or not?