3 Top Reddit Penny Stocks to Add to Your Watchlist in 2022
Reddit penny stocks have remained some of the most popular choices for investors of all types. While Reddit may not have been a popular place for investor discussions only a few years ago, in the past two years or so, it has. This started with the rise of meme stocks such as GME and AMC stock back in the early days of the pandemic.
And since then, Reddit has become an incredibly popular way for investors to find penny stocks and blue chips to buy. Now, when it comes to using Reddit to find penny stocks, investors should keep in mind that volatility will likely remain extremely high. This is par for the course as speculation is key with Reddit traders.
While fundamentals are considered, speculation is the main reason that penny stocks mentioned on Reddit move. So, with all of this in mind, let’s take a look at three penny stocks for your Reddit watchlist right now.
3 Penny Stocks on Reddit For Your Watchlist Right Now
DiDi Global Inc. (NYSE: DIDI)
By midday, shares of DIDI stock shot up by over 3.7%. While shares of DIDI stock are down by over 12% in the past five days, we have seen major volatility with DIDI. This is one of the main reasons that investors trade DIDI stock, as the potential to make money with these large swings is palpable. If you’re not familiar with DiDi Global, it is a provider of ride-hailing services in China.
While the majority of its business is domestic, the company also has operations in South America as well. The most recent news for DiDi comes as the company is expected to hold an extraordinary meeting on May 23rd. This will come as shareholders vote to de-list the company from the NYSE. Last year, DIDI went public at a price of around $14 per share.
Since then, the company has seen its fair share of ups and downs. And, with this delisting, many investors are using these large fluctuations and high volume to make potential profits. While DIDI stock is extremely volatile, there is a lot of information coming out that could make it worth watching. Considering this, will DIDI be on your penny stocks watchlist or not?
Ion Geophysical Corp. (NYSE: IO)
One of the bigger gainers of the day is IO stock, which managed to climb by more than 35% at midday. And, in the past five days, IO has climbed by more than 56% despite a six month drop of over 64%. Last week, the company announced the received of a non-compliance notice from the NYSE about a 10-K filing delinquency.
With this late filing, the company will be monitored by the NYSE for future progress. Only a few days before this, the company made a big announcement. On Wednesday, April 20th, it stated that it was awarded a five-year contract with Brunei Shell Petroleum. This contract involves a digital solution for the management of Marine Logistics.
“We are thrilled to be able to embark on this journey with BSP, to see them become a leader in digital integration of Exploration and Production Marine Logistics. With every engagement, our goal is to demonstrate excellent service quality; we are delighted that our solution was chosen as part of a competitive tender process.
By working closely with BSP over the next five years, we intend to leverage Marlin’s robust, cloud-based infrastructure, to digitize as many workflows as possible to ensure BSP reaps maximum value from their investment.”The Senior VP of Ion’s Software group, Stuart Darling
With this exciting news in mind, it’s clear that IO stock could have a lot to offer investors. Considering its high volatility, does IO deserve a spot on your list of penny stocks to buy?
Vinco Ventures Inc. (NASDAQ: BBIG)
BBIG is a trending penny stock that we have discussed numerous times. And today, we saw shares of BBIG stock climb by over 4.2%. This comes as the company has seen some major moves in the past month or so. That includes a 14% gain since March 14th.
So, is there any reason that BBIG stock should be climbing right now outside of pure speculation? The most recent news came as the company announced its 10-K filing on April 15th. In this, it discussed its various business ventures that are ongoing. That includes its stake in Lomotif, its recent acquisition of AdRizer and its moves on Cryptyde.
“As of the end of 2020, we had a market cap of approximately $20 million and total stockholders’ equity of approximately $14 million, and through equity growth and our acquisition of an 80% equity interest in Lomotif through ZVV Media Partners, our joint venture with ZASH Global Media and Entertainment, our market cap has increased as of the end of last week to over $507 million and our total stockholders’ equity has increased to $134 million.”The CEO of Vinco Ventures, Lisa King
Now, keep in mind that BBIG stock is highly volatile. And because of this, it is likely to continue moving up and down in the near future. Regardless, it’s clear that BBIG is working hard to grow. Whether this makes it worth buying or not however, is up to you.
Can Penny Stocks Make You Money in 2022?
Finding penny stocks that will be profitable is difficult without the proper knowledge on hand. But, with research and a trading education, understanding exactly how penny stocks work and how to trade is crucial. With penny stocks continuing to show volatility right now, there is a lot to keep track of. But, with this advice, making money with penny stocks in 2022 may be a little bit easier.