Reddit is one of the most popular places for investors to find penny stocks. Among social media channels like Twitter and Discord, Reddit remains highly influential over which penny stocks and blue chips retail investors will look at. There are a few reasons for this however the most prominent is that Reddit began the retail trader movement.
Starting with GME stock, traders came together to invest in companies that they held an emotional connection to. In addition, these traders were looking to beat out large institutional short positions. And as a result, many stocks have been coined as ‘meme stocks’ for their online trending status. While it is important to consider whether a penny stock is mentioned online, it is equally important to consider its fundamentals.[Read More] Hot Penny Stocks To Buy On Robinhood For Under $1 Right Now
Without looking at the numbers, it can be easy to get lost in the hype, where traders can often lose significant amounts of capital. But, if investors have a thorough understanding of a company’s underlying financials and its business plan, it can be much easier to make money with penny stocks. With all of this in mind, here are three penny stocks to watch that are frequently mentioned on Reddit.3 Penny Stocks to Watch on Reddit Right Now Metromile Inc. (NASDAQ: MILE)
Metromile Inc. is a penny stock that has seen some stable bullish momentum in the past few days. This company offers car insurance services in which the customer pays per mile. It also licenses an AI claims platform to automate claims and reduce losses caused by fraud. In addition to this, its product, The Pulse, plugs into the diagnostic port of the customer’s car and sends data over wireless networks.
On September 7th, Metromile and Tokio Marine Group partnered up to reduce insurance fraud. Tokio is now using the AI fraud-detection product from Metromile called DETECT across all of its property and casualty lines of business in Japan. Tokio believes that it has succeeded in finding suspected fraud claims with higher accuracy than its competitors now.
“Metromile Enterprise’s technology provides Tokio Marine with richer context and more sophisticated claims segmentation so that they can catch more fraud, more accurately and cost-effectively.”The CEO of Metromile, Dan Preston
This news was positive for Metromile, which has frequently been experiencing spikes in the market. While shares are down substantially in the past few months, some investors are showing potential in the company’s future. Noting this info, will MILE stock be on your penny stocks watchlist this week?Atossa Therapeutics Inc. (NASDAQ: ATOS)
Atossa Therapeutics Inc. is a penny stock that has shot up by over 25% in the past six months and more than 260% YTD. For some context, ATOS is a clinical-stage biotech company that discovers and develops medicines for oncology and infectious diseases. It’s worth noting that we’ve been discussing ATOS stock for several months now due to both its market momentum and sizable upswings during that time. One of its main clinical programs right now is Endoxifen which is an active metabolite of tamoxifen. Currently, its Endoxifen product is in Phase II clinical trials to treat and prevent breast cancer.[Read More] Hot Penny Stocks to Buy Right Now? 3 For Your Watchlist
On September 2nd, the company received approval from the Swedish Ethics Review Authority to start a Phase 2 clinical study of Oral Endoxifen. The purpose of the trial is to reduce mammographic breast density in Sweden. This is a health issue that impacts more than 10 million women in the United States, and many more all around the world as well. This study will be known as the Karisma-Endoxifen study.
“With this ethics approval and the previously reported regulatory approval to conduct the clinical study, we plan to start enrolling participants in the fourth quarter of 2021. We are excited to be working with Dr. Per Hall, a world leader in the field of breast density reduction, once again with our Endoxifen program.”Chairman and CEO of Atossa, Steven Quay
Right now, there is a sizable amount of momentum with biotech penny stocks. And as a result, many investors are looking for the best ones to buy. Considering this, will ATOS stock be on your watchlist moving forward?GEE Group Inc. (NYSE: JOB)
GEE Group Inc. is a penny stock we have discussed plenty of times in the past six months due to its intraday upswings and trending status. Following a large consolidation period a few months ago, it looks like JOB is beginning to see bullish sentiment once again.
If you haven’t heard of GEE Group Inc., it is a company that provides permanent and temporary staffing and placement services. The services GEE Group offers are exclusively for the United States, where there is a sizable market for this business. The company provides placement for tech, accounting, office, and medical professions among many others for direct hire and contract staffing services.
On August 16th, the company announced results for its fiscal third quarter of 2021. GEE Group’s revenue grew 43.1% year over year during this quarter to a total of $38.1 million. Its gross profit went up to $4.2 million or 43% higher in this same period as well. Its gross margin was also higher at 490 basis points in total. These numbers are exciting for the company, although it seems like they have yet to be reflected in its share price. Additionally, this follows several quarters of less than stellar financials, which is an exciting prospect to consider.
“The top line exceeded $38 million, which represented the highest quarterly revenues achieved by the Company since the same quarter two years ago in fiscal 2019. There is no question that demand is returning to all our businesses since the lows of last year and we have now seen steady quarterly revenue growth and overall improving bottom-line results since last year’s June quarter.”Chairman and CEO GEE Group, Derek Dewan
If we consider that there is a growing need for jobs in the country following the pandemic, we see that JOB could continue to see increased demand. With this in mind, will JOB stock make your penny stocks watchlist?Why You Should Care About Reddit Penny Stocks
Finding the best penny stocks to buy on Reddit can be a great way to make money with small caps. However, investors need to always utilize a combination of a trading strategy and research in order to do so. Reddit penny stocks have become commonplace in the stock market, and have led to some incredible gains.
But, if you’re not careful, they can also lead to large losses. If we consider how influential Reddit is on penny stocks, we see that there is a lot to look forward to in the coming months. With all of this in mind, which penny stocks are on your watchlist right now?