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5 Penny Stocks Under $1 To Buy According To Redditors This Week

Reddit penny stocks under $1 to watch this week.

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Penny stocks are notorious for their wild swings in the stock market. Today we’re looking at some of the most volatile names trading below $1. These are literally “penny” stocks, and the potential for quick gains (and losses) is more amplified. The fact that just a few cents can equate to significant percentage changes in position value suggests that cheap stocks like these aren’t for the faint of heart. Today we look at some of the cheapest penny stocks that social media discussions on Reddit and Twitter have placed in a brighter spotlight.

Reddit Penny Stocks To Buy

  1. Molecular Data Inc. (NASDAQ: MKD)
  2. Exela Technologies Inc. (NASDAQ: XELA)
  3. Jaguar Health Inc. (NASDAQ: JAGX)
  4. AnPac Bio-Medical Science (NASDAQ: ANPC)
  5. Ra Medical Systems Inc. (NYSE: RMED)

Best Penny Stocks To Buy

Understanding proper risk management is critical for penny stocks under $1. Throw in high-volatility swings from speculation thanks to Reddit and Twitter theories, and it can make for a unique situation in the stock market today. It’s essential to have a plan in mind and a strategy before jumping in head-first, and the initial step is putting together your watch list. Based on recent social media discussions, there are 5 penny stocks under $1 finding themselves on several watch lists today. Will they be the best penny stocks to buy now, or should you avoid them entirely?

1. Molecular Data Inc. (NASDAQ: MKD)

Shares of Molecular Data have captivated high-volatility traders over the last few weeks. Ever since hitting fresh 52-week lows of $0.1051 at the end of February, MKD stock has managed to bounce as high as 100%. The best part of that is the 100% move accounted for just a 10-cent rise in share price.

Recent MKD Stock Catalysts

Molecular Data focuses on China’s chemical trade offering supply chain technology aiding everything from warehousing and wholesaling to e-commerce and efficiency software. A partnership with Wanxiang Blockchain has also folded in a crypto angle in the market that traders have focused on.

With Bitcoin bouncing off of its lows over the weekend, some traders are placing some of their focus back on crypto & blockchain-related names. Despite some negative sentiment today regarding China-related companies, MKD stock has gained appeal from the retail group of traders as mentions have picked up over the last few hours.

2. Exela Technologies Inc. (NASDAQ: XELA)

Another popular name among penny stocks under $1 is Exela Technologies. Most of the year’s first quarter has been bullish in the penny stock. Despite last Friday’s pull-back to the mid-fifty-cent range, traders remain fixated on the penny stock for several reasons.

Recent XELA Stock Catalysts

The business automation solutions provider has expanded its reach into several industries. In particular, headlines at the start of this week place XELA stock in a very bright spotlight. The company announced the launch of its ExelaPay. The company will now provide payment and processing services following the acquisition of Corduro. They are a processing, commerce, and engagement platform.

Corduro offers everything from “pay-by-link, to digital wallet capabilities. Given the recent update from its earnings last week, payment processing services and scalability could be a focus based on the company’s continued growth in the small-and-medium-sized business niche. Exela stated that SMB continued “robust growth” during the fourth quarter of 2021.

3. Jaguar Health Inc. (NASDAQ: JAGX)

Jaguar Health has become a frequent topic of discussion this month. Despite JAGX stock being off of its 2022 highs by more than 60%, the “sub-$1” trend has placed a somewhat more substantial focus on the biotech company. Just before the opening bell on Monday, shares jumped to test highs of $0.47, and with early momentum, JAGX has become one of the penny stocks to watch early in the week.

Recent JAGX Stock Catalysts

Late last week, the company provided a corporate update and its 2021 financial results. Management noted Jaguar’s Canalevia-CA1 launch and sales of its Mytesi treatment. The Canalevia platform is a chemotherapy-induced diarrhea treatment in dogs, expected to receive FDA conditional approval for exercise-induced diarrhea in dogs later this year.

4. AnPac Bio-Medical Science (NASDAQ: ANPC)

Despite a massive sell-off to start the year, new developments have placed AnPac Bio-Medical in a slightly brighter spotlight to start the week. The cancer screening and detection company jumped after the closing bell on Friday. ANPC stock jumped briefly above $1 before settling back down around $0.70.

Recent ANPC Stock Catalysts

Earlier this month, AnPac’s Subsidiary turned heads. Biochip subsidiary Changwei System Technology received an independent valuation putting its value at roughly $90 million. This appraisal was conducted after AnPac’s board approved the company for exploring “strategic alternatives” for Changwei.

Dr. Chris Yu, CEO, and Chairman of AnPac Bio, commented: “We are very pleased with the progress of our IC chip subsidiary, including our novel IC chip for multi-cancer screening and detection applications. In addition to helping AnPac Bio in cancer screening, Changwei’s talent, IP, knowledge, and experience may also be of benefit to life science companies to develop new and novel products involving Changwei-designed biochips.”

5. Ra Medical Systems Inc. (NYSE: RMED)

Slow and steady has been the trend for Ra Medical since early February. Shares of RMED stock gapped down hard following news of the company’s latest financing. Ra priced a $12 million offering at a discount to the retail prices at the time, which triggered a sell-off in the penny stock. The vascular disease laser company has managed to bounce back this month following critical developments at the end of February.

Recent RMED Stock Catalysts

Last month was an active one for Ra. The company announced approval from the FDA to increase enrollment from 100 to 125 subjects in its DABRA excimer laser system trial. The platform is under evaluation as an atherectomy device in peripheral arterial disease. Further, Ra also filed a 510(k) application for the platform with a braided overjacket. Will McGuire, Ra Medical Systems CEO, explained that “This 510(k) filing is a highly significant engineering and regulatory steppingstone toward our flagship commercial DABRA catheter, which will be a guidewire-compatible design.”

With this, RMED stock has continued gaining attention in the market this quarter.

Should You Buy Penny Stocks Right Now?

Is it time to load up on cheap stocks? Depending on your trading strategy, penny stocks can be worth the risk. Considering the attention on stocks under $1 right now, risk/reward has become a more significant factor.

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By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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