3 Reddit Penny Stocks to Watch Right Now
While Reddit may not be the first place you go to find penny stocks, it should be on your list when doing research. In the past year and a half, Reddit has become a go to place to find trending penny stocks. And while not all penny stocks mentioned on Reddit are worth buying, there are some that could be worth looking into. Of course, investors should still do the proper due diligence before investing in any stocks let alone those on Reddit.
But, it’s worth noting that small-caps frequently talked about online, have become extremely popular this year. One thing to keep in mind is that when a stock is discussed and therefore trending online, it is likely to see more stability and speculation than others. And, this can be worrisome for those investors looking for more stable stocks to buy. However, if volatility is your thing, it could be worth looking into.
While Reddit should never be the only place you go to find stocks, it can be a useful tool in your search. It’s important to remember to never trade with emotion. If you see a stock flying because of its presence online, it may be too late to make a profit. And, if you decide to get in due to FOMO or the fear of missing out, you will more than likely lose money. So, with all of this in mind, let’s take a look at three Reddit penny stocks to watch right now.
3 Reddit Penny Stocks to Watch
- Enzolytics Inc. (OTC: ENZC)
- Akebia Therapeutics Inc. (NASDAQ: AKBA)
- Ebang International Holdings Inc. (NASDAQ: EBON)
Enzolytics Inc. (OTC: ENZC)
Enzolytics Inc. is a biotech penny stock that has been a solid performer over the past few months. This company creates drugs that target and neutralize the HIV virus and other infectious diseases. Currently, Enzolytics Inc. is focused on commercializing its proprietary proteins. The company has clinically tested a great deal of its anti-HIV therapeutics with solid results and promising safety profiles.
On July 20th, Enzolytics announced that it has signed a letter of intent with Creative Biolabs Inc. to license and commercialize anti-HTLV-1 monoclonal antibodies. Creative will test the efficacy and neutralizing capability of the drugs, mass-produce them for marketing and distribution, and promote/market the HTLV-1 mAbs. Deals like these are always important as it is a difficult process to fully commercialize a drug. Even if it gains approval, the manufacturing and distribution stages are always a challenge.
“We now have a comprehensive platform for producing multiple targeted monoclonal antibodies against numerous infectious diseases. This platform includes our ability to identify multiple conserved and immutable sites on viruses to produce fully human monoclonal antibodies targeting those sites. This approach opens the door to new and durable therapies that can be used to treat innumerable human…