3 Reddit Penny Stocks to Watch Next Year
If you’re looking for penny stocks to buy on Reddit, you’re not alone. Because Reddit attracts such a large community of investors, many traders go to the platform to find the best penny stocks to buy. Over the past two years or so, we’ve seen several subreddits on the site, become responsible for multi-digit percentage rallies with some popular and some unknown penny stocks. And while this can result in major gains for some, for others, it can result in steep losses.
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So, investors should always be confident in the stocks they pick for their watchlists and know every detail about the company. In addition, investors should have a thorough and well-thought-out trading strategy on hand that can adapt to current market conditions. While Reddit can sway prices significantly, there are plenty of other factors at play that investors need to consider right now. This includes the Omicron variant, which has caused major market movement over the past month or so.
In addition, there are plenty of unknowns about the near and distant future. And because of this, some traders are choosing to be conservative with their investments right now. So, regardless of your trading strategy, keep in mind that penny stocks on Reddit tend to be extremely volatile. With that in mind, let’s take a look at three to watch in 2022.
3 Penny Stocks on Reddit For Your Watchlist
- Shiftpixy Inc (NASDAQ: PIXY)
- Meten Holding Group Ltd. (NASDAQ: METX)
- Qualigen Therapeutics Inc. (NASDAQ: QLGN)
Shiftpixy Inc. (NASDAQ: PIXY)
One of the largest gainers of the day is PIXY stock, shooting up by over 43% by EOD on December 28th. While there is no clear reason for today’s gain, we do see that the company is a sizable part of the tech industry and a recent mover into the Metaverse.
To understand it better, we have to take a closer look at what Shiftpixy does. In short, the company provides an employee management platform for employment in the gig economy. This includes offering services such as administrative help and regulatory products to help businesses have an easier time with their employees.
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A few weeks ago, the company presented at the Wolfe Consumer Growth Conference. Its presentation titled “Shifting Consumer Behaviors – Stay At Home or On the Road?”, was well received. While events like these may not have a material impact on stock price, they can be important for investors to consider.
In the past five days, shares of PIXY stock have shot up by a sizable 55% including today’s major gain. This is a solid reflection of the bullish interest in PIXY stock right now. Considering all of this, does PIXY deserve a spot on your penny stocks watchlist moving forward?
Meten Holding Group Ltd. (NASDAQ: METX)
Another popular Reddit penny stock that investors have been watching is METX stock. With an almost 3% gain at EOD on December 28th, shares of the company still remain down by around 85% YTD. Although this is disheartening, the company has made some sizable moves in the past few weeks. The most recent of this came on December 22nd when it announced a joint venture with industry experts to build out a cryptocurrency mining company. The company stated that it will invest $3 million in the joint venture for a 21% stake.
“We are delighted with this joint venture that fits the strategy for our new blockchain and cryptocurrency business line. We believe that the cryptocurrency and blockchain industry expertise brought by Mr. Zhijun Liu, Ms. Yunning Li, and Mr. Manning Liao will be highly complementary to our new business.
We believe this joint venture will enable the Company not only to have a complete R&D, manufacturing and sales capabilities of mining equipment but also to consolidate and expand its foundation in the mining and blockchain industry.”
The CEO of Meten Holding Group, Alan Peng
This is big news for the company considering the regulatory measures put in place by China to stop for-profit tutoring months ago — Meten’s main source of revenue. So, to build its business despite this legislation, it looks like Meten is turning to crypto. With that in mind, will METX be on your list of penny stocks to watch next year?
Qualigen Therapeutics Inc. (NASDAQ: QLGN)
With over 6% in gains during trading on December 28th, QLGN is again in the public eye. Over the past five days, shares of QLGN stock have shot up by over 38%, which is no small feat. This is especially true considering its YTD drop of more than 58%.
Now, there is no news that we can look at to try and explain this gain however, there is a large amount of bullish sentiment in the biotech industry right now. For some context, Qualigen provides the FastPack diagnostic platform. This platform is an FDA cleared and CE-marked product that has been used in the diagnostic sector for over two decades. In addition, it is working on several therapeutic compounds such as QN-247 and RAS-F.
Only a few weeks ago, the company announced the closing of a direct offering worth $8.82 million. The company states that these proceeds will go toward its continued strategy and for general and corporate needs. While it is hard to say exactly why QLGN stock is moving right now, there’s no doubting its impressive recent rise. But, is that enough to make QLGN stock worth buying?
Which Reddit Penny Stocks Are You Watching Right Now?
If you’re looking for the best Reddit penny stocks to buy, there are hundreds to choose from. But, not all penny stocks are truly worth investing in. Rather, traders need to do the proper due diligence to find which stocks have value and which are just moving as a result of social sentiment.
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With so much going on in the stock market, it is also crucial to stay up to date with what exactly is moving prices. Considering all of this, which Reddit penny stocks are you watching as we move into 2022?
