Are These Reddit Penny Stocks on Your Watchlist For Next Month?
Reddit has consistently been one of the most popular places for penny stocks investors to find small caps to buy. And although penny stocks mentioned on Reddit also happen to be some of the most volatile stocks out there, the social media site can be a valuable resource in your toolbox. For those unfamiliar, Reddit is a popular platform for people with all types of interests to come together and discuss any topic imaginable.
As a result of the investor boom of the past year and a half, many communities have popped up on Reddit, dedicated to trading penny stocks or blue chips. As we’ve seen with several popular stocks this year, when groups come together to invest based on hype, shares can quickly skyrocket in the double or even triple-digit percentage points.
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So, while this is not an everyday occurrence, Reddit and other similar platforms have become synonymous with these major jumps. Considering that, using Reddit to find penny stocks to buy can be a dangerous method without research to back it up. That’s why many investors simply go to Reddit to form a watchlist rather than to invest in stocks off the bat. So, considering all of this, let’s take a look at three Reddit penny stocks to watch in December 2021.
3 Penny Stocks on Reddit to Watch in December
- Transocean Ltd. (NYSE: RIG)
- Iterum Therapeutics plc (NASDAQ: ITRM)
- Kosmos Energy Ltd. (NYSE: KOS)
Transocean Ltd. (NYSE: RIG)
Transocean Ltd. is a global enterprise that specializes in offshore contract drilling. The corporation contracts drilling rigs, drilling equipment, and work staff for oil and gas wells around the world. Transocean currently owns or has a share in 37 mobile offshore drilling units. These units include 27 ultra-deepwater floaters and 10 harsh environment floaters, and two more ultra-deepwater drillships in development.
On November 1st, Transocean revealed its third-quarter financial results. It earned $626 million in total contract drilling revenues during this quarter, compared to $656 million the previous quarter. Its revenue efficiency increased by 0.1 percent to 98.1 percent from the previous quarter. During this time, Transocean’s operation and maintenance expenses decreased from $434 million to $398 million.
CEO and President of Transocean, Jeremy Thigpen said, “We once again produced strong financial results. Notably, our strong uptime performance during the quarter drove an impressive revenue efficiency of 98%, resulting in adjusted revenues of $683 million.” On November 23rd, shares of RIG stock climbed by around 6%. This is presumably relating to the oil and gas industry itself as Transocean did not release any updates. Noting this info, will RIG be on your list of penny stocks to watch?
Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a biotech penny stock that pushed up by a respectable 8% on November 23rd. Despite some less than stellar news earlier in the year resulting in a major value drop, shares have begun to climb again for ITRM stock. If you’re not familiar, Iterum is a clinical-stage pharmaceutical business that is working on developing anti-infectives for multi-drug resistant organisms. Sulopenem, a new anti-infective drug with oral and IV forms in Phase III clinical trials to treat urinary tract infections, is Iterum’s main pharmaceutical in development right now.
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On November 12th, Iterum reported its third-quarter financial results for 2021. As of September 30th, 2021, the company had cash and cash equivalents as well as short-term investments totaling $85.7 million. The company expects this to be sufficient to fund its operations into 2024. In addition, the company experienced a large decrease in research and development expenses year over year from $3.9 million to $1.8 million.
“We had a productive Type A meeting with the U.S. Food and Drug Administration (FDA) in the third quarter in which various potential paths forward to support potential resubmission of our New Drug Application (NDA) for oral sulopenem for the treatment of uncomplicated urinary tract infections (uUTI) were discussed.”
The CEO of Iterum, Corey Fishman
Moving forward the company has requested a Type B meeting with the FDA. The goal is to reach an agreement on the design of a Phase 3 trial for oral sulopenem to treat uUTI. If this trial is successful, Iterum could resubmit its NDA. With this in mind, will ITRM be on your penny stock watchlist?
Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is a publicly-traded oil and gas company that also climbed during trading today. By EOD, shares of KOS stock pushed up by around 9%, indicating solid bullish sentiment around the energy industry right now. If you’re not familiar, Kosmos engages in deepwater independent oil and gas exploration and production. Its principal assets are located offshore Ghana, Equatorial Guinea, the United States Gulf of Mexico, Mauritania, and Senegal, with an emphasis on the Atlantic Margins.
On November 7th, Kosmos reported its third-quarter financial results for 2021. The company achieved net production of 49,300 barrels of oil equivalent per day (boepd) with sales of 32,700 boepd. During this period, Kosmos achieved revenues of $199 million in total. The company generated a net loss of $29 million and an adjusted net loss of $43 million in this period.
“Looking forward, growing production and increased exposure to current oil prices as 2021 hedges roll off give us visibility to materially higher EBITDAX and cash flow in 2022, with leverage expected to continue to fall. Over the next year, we also expect to substantially de-risk the delivery of Tortue Phase 1 while advancing Phase 2 to maximize the value of our significant gas resources in Mauritania and Senegal.”
Chairman and CEO of Kosmos, Andrew G. Inglis
In the past six months, shares of KOS stock have climbed by around 13% with a YTD and one-year gain of over 55% and 85% respectively. Keeping this information in mind, will KOS be on your list of penny stocks to watch?
Which Penny Stocks Are You Watching Next Month?
Finding the best Reddit penny stocks to buy can be a tricky task. But, with so many different stocks mentioned on the social media platform everyday, Reddit can also be an invaluable tool in your box.
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As always, traders should make sure to do all the research they can before investing, as this can and likely will mean the difference between profits and losses. So, considering all of that, which penny stocks are on your watchlist for December 2021?
