best reddit penny stocks to buy now

Right now, trading penny stocks is extremely popular. And, this has been the case for several years now, as more and more investors discover the potential that penny stocks have to offer. While either penny stocks or blue chips can be considered speculative, penny stocks alone tend to fluctuate more based on news than almost any other area of the market. As a result, finding small caps online can be a great way to get ahead. 

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And, one of the best platforms out there for finding penny stocks to watch right now is Reddit. If you’re not familiar, Reddit is a social media website that allows people of any interest to talk about any topic imaginable. And as a result, many investors have come together on the site to discuss their favorite stock picks and potential trends that could occur. 

Now, it’s crucial to understand everything about a company before blindly investing. This means knowing what its financial situation is, what news it could announce in the near future, and so on. With this information, you’ll be able to better understand what price action the company could experience in the near future. So, with all of this in mind, let’s take a look at four Reddit penny stocks to watch right now. 

  1. Ensysce Biosciences Inc. (NASDAQ: ENSC)
  2. Vyne Therapeutics Inc. (NASDAQ: VYNE
  3. Arbutus Biopharma Corp. (NASDAQ: ABUS
  4. Genius Brands International Inc. (NASDAQ: GNUS)

Ensysce Biosciences Inc. (NASDAQ: ENSC) 

One of, if not the biggest gaining penny stock of the day so far is ENSC stock. By midday, shares of ENSC had shot up by almost 90% to over $5.62. While this brings it out of penny stocks territory, it technically was a penny stock at the beginning of the day. Additionally, this move is part of a wider trend where ENSC stock has gained almost 300% in the past five days. 

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For some context, Ensysce Biosciences is a U.S.-based clinical-stage biotech company working on new platforms to develop prescription drugs. This includes the use of its TAAP or Trypsin Activated Abuse Protection platforms which provides tamper-proof opioids that can stop abuse and overdoses. Right now, there is a major epidemic occurring with opioid use and addiction. And as a result, the market for products that can fight this is large. 

Why is ENSC Stock Moving?

The most recent announcement from Ensysce Bioscience came last week when it announced the completion of a positive safety review for its second study of TAAP Opioid, PF614. Dr. William Schmidt, the CMO of Ensysce states that “We are encouraged by the results of our trials to date. With our expertise in drug development, we are advancing as expected toward bringing our lead ‘next generation’ opioids products to market.”

 While this is good news, there is also another worthwhile announcement that investors should consider. On Tuesday, Zacks Small-Cap Research gave a price valuation for ENSC stock of $23 which is well above its current share price. Considering all of this, will ENSC be on your penny stocks watchlist?

Penny_Stocks_to_Watch_Ensysce

Vyne Therapeutics Inc. (NASDAQ: VYNE) 

Another big gainer of the day so far is VYNE stock which climbed by around 10% at midday on December 9th. This brings its five-day gain to a very respectable 45%. After losing more than 70% of its value over the past YTD period, the recent gains for VYNE stock are a refreshing change of pace for investors. 

Vyne Therapeutics is a pure-play biotech penny stock working on a large number of therapies to treat immuno-inflammatory conditions such as rare skin disorders and others with a large unmet medical need. It offers proprietary drugs such as FMX114 for the treatment of atopic dermatitis and more. 

Why is VYNE Stock Moving?

It’s hard to say with certainty why exactly VYNE stock is moving right now as no recent news has come out regarding the company. However, it’s standing as a Reddit penny stock could be a reason for its recent momentum. Aside from this, the company recently presented at the Piper Sandler 33rd Annual Virtual Healthcare Conference, where it showed its recent work. 

Before this, the company announced its Q3 financial results. In the results, the CEO of Vyne, David Domzalski, stated that “the third quarter marks an important turning point for VYNE, as our company is now fully engaged in the development of next-generation therapeutics designed to address multiple immuno-inflammatory diseases.” Whether this information makes VYNE stock worth buying or not is up to you. 

Penny_Stocks_to_Watch_Vyne

Arbutus Biopharma Corp. (NASDAQ: ABUS) 

On December 9th, shares of ABUS stock managed to climb by north of 7%, hitting over $4.56 per share at midday. Similar to the other companies on this list, Arbutus is a clinical-stage biopharmaceutical company working on the development and commercialization of a variety of product candidates.

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This includes those that suppress viral replication as well as those that work to improve the immune system’s functions. In its pipeline are compounds such as RNA interference therapeutics, oral capsid inhibitors, and more. Additionally, Arbutus is working on producing orally active agents to potentially fight coronaviruses, which includes Covid-19. 

Why is ABUS Stock Moving?

There are a few factors at play for why ABUS stock is moving right now. The most obvious seems to be its connection to the pandemic and its work on fighting Covid-19. However, the company did make an exciting announcement on December 7th. The company stated that initial screening showed that it has identified molecules that could slow down the growth of the main protease for SARS-CoV-2 nsp5. 

“Our goal with this collaboration was to identify unique and differentiated pan-coronavirus assets targeting the main coronavirus protease which could deliver a much-needed oral antiviral treatment for SARS-CoV-2 and any potential future coronavirus outbreaks.” 

Dr. Michael Sofia, the CSO of Arbutus

This is exciting news for the company and shows that its continued work on Covid-19 could be beneficial in the long term. With that in mind, does ABUS stock deserve a spot on your penny stocks watchlist?

Penny_Stocks_to_Watch_Arbutus

Genius Brands International Inc. (NASDAQ: GNUS) 

Moving away from biotech, we see GNUS stock, which is a frequently mentioned penny stock on Reddit. While not much momentum was seen with GNUS stock during trading today, it has been trending on Reddit and other social media platforms in the past few weeks. If you haven’t heard of Genius Brands, it is a media company focused on kids’ entertainment. 

The company develops, produces, and markets a wide range of branded content for the youth market. This includes programs such as Stan Lee’s Superhero Kindergarten, as well as Shaq’s Garage, and other popular names. These shows are available on most popular platforms including Comcast, Amazon Fire, Google Play, and much more. 

Why is GNUS Stock Moving?

Two days ago, Genius Brands announced the unveiling of its global distribution strategy for its International channels. The channel known as Kartoon Genius will air on several new media outlets spanning Europe, the Middle East, and Latin America. 

“With his background as Managing Director of Walt Disney Television International and his successful history setting up children’s content delivery systems worldwide, there is nobody in my opinion more qualified than Paul Robinson to build value for this company and create the next great global children’s distribution system.” 

The CEO of Genius Brands, Andy Hayward

Considering this exciting news, is GNUS stock worth buying or not?

Penny_Stocks_to_Watch_Genius

Which Penny Stocks Are on Your Watchlist Right Now?

While there are hundreds of penny stocks to choose from, not all are created equal. And as a result of the sheer number of factors that are impacting the stock market, it can be complicated to pick just a handful for your watchlist.

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But, with the right research and a commitment to understanding how to trade penny stocks, it can be much easier than previously imagined. With that in mind, which penny stocks are on your watchlist right now?


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