Are These Reddit Penny Stocks Worth Watching?
Finding the best Reddit penny stocks to buy is a challenge. But, with hundreds of penny stocks discussed across Reddit daily, the options are aplenty. As with any watchlist, investors should be sure to do the proper research before investing.
This means finding out financials, future plans, and any upcoming announcements that the company may make. Remember that penny stocks are extremely volatile. And, if we add in the layer of Reddit, we see that they can become even more likely to fluctuate. Rather than serve to scare you out of investing, this should inform your trading strategy.
In 2021, there are a few things that investors should keep track of. First and foremost is the trajectory of the pandemic. With the Delta variant taking hold, we are witnessing large case number increases around the world. This has reignited fears of earlier pandemic waves, and resulted in the large S&P 500 crash witnessed on Monday, July 19th.
Additionally, many investors fear that we could be headed toward heightened inflation in the coming months. This is likely considering the large amount of currency printed in the past year and the equally large amount of stimulus given out during that time as well. So, with all of this in mind, let’s take a look at three Reddit penny stocks making big gains today.
3 Reddit Penny Stocks to Watch Right Now
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Atossa Therapeutics Inc. (NASDAQ: ATOS)
- Cinedigm Corp. (NASDAQ: CIDM)
Vinco Ventures Inc. (NASDAQ: BBIG)
Vinco Ventures Inc. is a penny stock that shot up substantially in value on July 21st. This company manufactures and sells various products including electronics, toys, home items, and more. Vinco markets these products to distributors and retailers around the world.
In addition to all of this, it also provides personal protective equipment to hospitals and government agencies. It seems as though Vinco goes where the strongest demand is. During the pandemic, the demand for its home goods shot up tremendously as more people were at home than in many years prior. And as a result, its latest financial report was much better than expected.
On June 24th, the company announced the planned “spin out” or Emmersive Entertainment. This will make Emmersive a fully reporting publicly traded entity. The resulting company will be led by the current Chief Strategy Officer of Vinco Ventures, Brian McFadden. This transaction is expected to be completed in the third quarter of 2021.
“This is a great opportunity for the shareholders of record on the effective date. The technology that Emmersive continues to develop is I believe industry-changing and we felt the best way to ensure the shareholders receive that value is by splitting the two entities and…