3 Reddit Penny Stocks Making a Big Comeback Today
Reddit penny stocks remain some of the most popular securities in the stock market today. And with many blue chips underperforming in the past few weeks, investors have turned to penny stocks. But before we get into why it’s worth discussing what Reddit penny stocks are.
Reddit, the popular social media site, allows communities of users to interact with one another via subreddits. And, over the past few months, many investors have come together to invest in groups, in both penny stocks and blue chips that they feel a connection to. While this began with GameStop Corp. (NYSE: GME), it quickly involved other big names like AMC Entertainment Holdings Inc. (NYSE: AMC) and others.
These investors came together to invest in companies that they felt a personal connection to, rather than doing so because of fundamentals or the underlying business model of these companies.
Thus, the term Reddit stocks was born. And now, these same investors are turning their eyes toward a wide range of penny stocks. It’s important to note that any penny stocks to watch as a result of Reddit, will likely see massive speculation. This is simply par for the course.
However, with high volatility comes the potential to make big gains (and losses). And with a wide list of penny stocks to buy as a result of Reddit, the options are limitless. With this in mind, let’s take a look at three Reddit penny stocks to watch.
3 Reddit Penny Stocks to Watch
1. Kosmos Energy Ltd. (NYSE: KOS)
Kosmos Energy Ltd. is an oil and gas penny stock that explores and produces fossil fuel-based energy in several countries around the world. The company’s main assets are in the U.S. Gulf of Mexico, Equatorial Guinea, and Ghana. It also has an offshore Mauritania and Senegal gas development. Its proven basin exploration program has made great strides for the company as well, over the past few months alone.
On May 10th, the company reported its first-quarter 2021 results which could be impacting its stock price. The company had a net production of 53,100 barrels of oil equivalent per day. This resulted in a material net under-lift position of approximately 1.3 million barrels of oil.
Recently the company also closed a $450 million offering of senior notes due 2028. The Chairman and CEO of the company Andrew G. Inglis said, “2021 is off to a strong start with momentum building across the business. We have begun infill drilling activities in Ghana and the Gulf of Mexico will soon begin drilling in Equatorial Guinea, and are on track to deliver our production and cash flow targets for the year.”
With high revenues and positive oil and gas progression in the market, KOS stock could see more momentum. On May 17th shares of KOS…