Finding penny stocks on Reddit is one of the most popular methods that traders are using in 2021. While there are hundreds of penny stocks mentioned on the social media site daily, only a handful are worth investing in. To find the best ones to buy, there are a few steps that investors should take. First and foremost is research. This should be a mainstay for any investor, however, often some traders will skip this stage. But, understanding the ins and outs of any penny stock on your list, will always put you ahead of the competition.
The second thing to consider is your own threshold for volatility and what your trading strategy is. these two factors go hand in hand and can help to avoid ending up in losses. With Reddit penny stocks, it is common to see large intraday fluctuations in the double-digit percentage points. This is the result of massive speculation and the underlying volatility that these small-caps have.[Read More] Hot Stocks To Watch On Robinhood With Analyst Targets Up To 368%
And while some traders use this to their benefit, others can get lost knowing when to buy and sell. So, if you are risk-averse, penny stocks on Reddit may not be right for you. However, if you are inclined to find riskier stocks, then Reddit penny stocks could be worth it after all. With all of this in mind, here are three penny stocks that investors are watching right now.3 Penny Stocks on Reddit to Watch Right Now Cinedigm Corp. (NASDAQ: CIDM)
Over the past few months, we’ve mentioned CIDM stock quite frequently due to its mentions on Reddit and constant momentum in the market. For some context, Cinedigm is an entertainment company that focuses on movie, television, and short-form content streaming.
The company distributes its products for entertainment platforms like Hallmark, Televisa, the NFL, and more. Cinedigm also assists with marketing, sourcing, and distributing content for other companies such as Apple, Amazon Prime, Netflix, and Sony. Throughout the pandemic, the demand for digital content has increased dramatically. And, as a result, Cinedigm has seen its viewership increase drastically as well.
On July 30th, the company launched three of its most popular channels on the SLING TV streaming platform. The channels being offered by Cinedigm are the Dove Channel, CONtv, and Docurama. SLING TV is a streaming service that offers live and on-demand television content to its customers through a $35 per month subscription fee. Cinedigm continues to innovate and produce new content for a wide variety of viewers, indicating solid potential as a leader in the entertainment industry.
“Working with SLING TV not only allows us to reach a diverse, new audience, but it gives us a partner with the same forward-thinking drive. We can’t wait to show these new customers the amazing networks Cinedigm has to offer.”The VP of Business Development and Strategy at Cinedigm, Jennifer Soltesz
Now Cinedigm plans on presenting at the Sidoti Microcap Conference on Wednesday, August 18th. With this in mind, is CIDM a contender for your penny stocks watchlist?Dare Bioscience Inc. (NASDAQ: DARE)
Dare Bioscience Inc. is a biotech company that creates treatments for women’s health. The U.S.-based company produces products for fertility, sexual health, contraception, and vaginal health. One of its main developments is DARE-BV1, which is for treating bacterial vaginosis. The company also has Ovaprene, which is a monthly contraceptive that has no hormones in it. As a biotech company in the relatively niche market of women’s health, Dare is consistently innovating and adding new products to its pipeline.
On August 9th, the company announced the FDA acceptance and priority review of its New Drug Application for DARE-BV1. The company has been granted a six-month priority review for the product, with the Prescription Drug User Fee Act date set at December 7th, 2021. Dare states that it expects to launch the product in 2022 if approved. This is big news for Dare and shows that it could be very close to the commercialization stage with DARE-BV1. And with any biotech penny stock, investors are often excited at the idea of a drug reaching this stage.[Read More] These 3 Penny Stocks Exploded Today, Here’s Why
Sabrina Martucci Johnson, the CEO and President of the company said, “The acceptance of this NDA marks a major milestone not only for Dare as a company but importantly for the 21 million women impacted by bacterial vaginosis.” In the last 5 days, DARE stock has increased significantly because of the company’s advancements. So considering this, is DARE stock worth adding to your list of penny stocks to watch?Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an oil and gas stock that has increased in value by over 120% since November of last year. As an interesting player in the energy industry, Kosmos explores for and produces oil and gas in many areas around the world. The company’s assets are located in the U.S. Gulf of Mexico, Equatorial Guinea, and Ghana. And, it’s worth noting that it also has offshore gas development projects in Mauritania and Senegal gas development. On August 8th, Kosmos Energy released its second-quarter 2021 results.
“Kosmos delivered strong free cash flow in the second quarter. Through further debt reduction and EBITDAX growth, we expect leverage to continue to reduce through year-end 2021 and into 2022. With strong cash generation, the successful RBL extension, and the recently completed GTA FPSO transaction, Kosmos’ financial position has materially improved and we remain well-positioned to execute our remaining financing plans later this year.”The CEO and Chairman of KOS, Andrew G. Inglis
KOS stock is performing well in the market after this new release of financial results. While its volume is lower than its average, its stock price moved up on August 10th. Keeping this information in mind, will KOS make your penny stock watchlist?Which Penny Stocks on Reddit Are You Watching?
Finding the best penny stocks on Reddit is all about understanding where to look. With so many to choose from, it can be easy to get lost scouring social media for the penny stocks that may have potential.
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But, with the right research in hand and a trading education to back it, making money with penny stocks on Reddit can be done. Considering this, which penny stocks on Reddit are you watching right now?