Are These Reddit Penny Stocks on Your List This Month?
Finding penny stocks on Reddit can be a great way to make money in 2022, but are they worth the investment? Let’s take a look at the pros and cons. On the plus side, Reddit penny stocks offer the potential for big profits. If you pick the right penny stocks, you could see your investment grow exponentially. And with Reddit we often see an extremely high amount of volatility.
This can work both in your favor and against you. On one hand, volatility can lead to big profits if you buy stocks when they’re low and sell when they’re high. But on the other hand, it can also lead to big losses if you don’t have a proper trading strategy and industry knowledge. Another thing to consider is the fact that penny stocks without the influence of social media, are inherently risky. So, if you’re not comfortable with this high level of risk, penny stocks may not be for you.
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For example, today we saw some major movement in the stock market. This includes companies like Draganfly Inc. (NASDAQ: DPRO) and Gevo Inc. (NASDAQ: GEVO). But, we also some some major losers. Regardless, knowing the difference and how to take advantage will always be your best bet. Considering this, let’s take a look at three Reddit penny stocks to watch right now.
3 Reddit Penny Stocks to Watch Right Now
- Farmmi Inc. (NASDAQ: FAMI)
- Gingko Bioworks Holdings Inc. (NYSE: DNA)
- Clover Health Investments Corp. (NASDAQ: CLOV)
Farmmi Inc. (NASDAQ: FAMI)
Up by around 6.2% at EOD on March 22nd is FAMI stock. Now, we’ve covered FAMI numerous times in the past few months due to its consistent movement in the stock market. And although shares have not seen the greatest uptrend during that time, we have seen an 11% move in the past five days. Before we get into why shares of FAMI stock are moving, it’s worth looking into what the company does.
Farmmi Inc. is a provider of agricultural products. This includes a wide range of edible fungi items such as Mu Er Mushrooms and Shiitake’s, as well as other foods. Last week, the company announced that it won a repeat customer order for export of products to Vancouver.
“We continue to focus on driving across the board growth with our upward trajectory led by our high-quality products and farm-to-table distribution.
Our team is really doing a great job supporting our customers worldwide, as we help them to secure the quantities they need and to navigate the ongoing logistics situation. This is an exciting time for us and we are working hard to capture an increased share of the opportunities in front of us.”
The CEO of Farmmi, Ms. Yefang Zhang
Repeat orders are always very exciting for a company as they highlight the potential that it could have moving forward. And because of this, it’s clear that FAMI could continue to be a popular penny stock to watch moving forward. With this in mind, will it be on your list of penny stocks to buy or not?
Gingko Bioworks Holdings Inc. (NYSE: DNA)
Another big gainer of the day on March 22nd is DNA stock. By EOD, shares of DNA stock had shot up by over 8.7% to more than $3.22. This is a highly substantial gain considering its six month drop of more than 70%.
The most recent news from Gingko Bioworks came on March 17th. On the 17th, it announced the date of its Q4 2021 financial results presentation as well as the date of its annual shareholder meeting. The company stated that these results will be available on March 28th at 4:30 PM EST. It’s worth noting that we’ve covered DNA stock numerous times in the past few weeks due to its moves in the market. And while its price movement over the last few months is nothing to write home about, it’s clear that investors are excited about the future of the company.
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If you’re not familiar, Gingko is a biotech penny stock that is working to offer cell programming tech. This could have applications for everything from food and agriculture to chemicals and pharma. Because of this, the company remains a popular choice for investors looking at long term penny stock plays. Despite its volatility, do you think DNA is worth adding to your penny stocks watchlist?
Clover Health Investments Corp. (NASDAQ: CLOV)
Up by 3.5% at EOD on March 22nd is a penny stock you may be familiar with if you read our content. We’ve covered CLOV stock several times in the past few weeks, and over the last month, shares of CLOV have shot up by over 75%. This gain reflects both exciting news put out by the company during that time and the tech industry as a whole.
The biggest catalyst in the past few weeks for CLOV stock was its Q4 2021 financial results, which were reported on February 23rd. In the report, the company posted revenue that was up by over 160% YoY. In addition, the Lives under its Clover Assistant Management, managed to shoot up by over 223%.
“We are singularly focused on creating great, sustainable healthcare and have centered our strategy on building and deploying physician-enablement software that we believe will enable every physician to deliver data-driven value based care.”
The CTO and President of Clover Health, Andrew Toy
These financial results are very exciting for the company and highlight the positive work that Clover is doing to increase its business size. Considering that, will it be on your watchlist this week?
Will Penny Stocks Be Profitable Next Month?
Finding the best penny stocks to buy, whether they be on Reddit or elsewhere, all comes down to knowing your own investing strategy. Without understanding your goals, it will be impossible to pick the right penny stocks for your watchlist.
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In addition to this, investors have to have a thorough understanding of where the market is right now and what is impacting penny stocks. Considering that, do you think that penny stocks will be profitable next month?