Are Reddit Penny Stocks Worth Buying This Month? 3 to Watch
August 13, 2021 at 16:31 PM EDT
3 Reddit Penny Stocks For Your August Watchlist
Reddit penny stocks have become some of the most popular stocks to watch in the market. But with so many to choose from and higher than average volatility, investors can find themselves lost among the myriad of choices. But, to understand which could be worth it, let’s take a look at what makes penny stocks worth buying.
The first way to understand whether a company is worth adding to your penny stocks watchlist is to understand what exactly it does. Is its business model better suited for short-term gains? Or, is it more geared toward long-term potential? These two questions will help you to understand what time frame you may want to commit to investing in.[Read More] Best Penny Stocks To Buy Right Now? 5 To Watch Before September
Second, what do its financials look like? Does it have enough funding to continue operations into the foreseeable future? Has it done any capital raises in the past few months? Looking at balance sheets will always be a great way to discover new information about a company and what its potential could be in the long term. So, with all of this in mind, let’s take a look at three Reddit penny stocks to watch.3 Reddit Penny Stocks to Watch Right Now
Luokung Technology Corp. is a tech company that many investors have been watching over the past few months. YTD, shares of LKCO stock are up by around 80%, despite some less than stellar trading in the past month or so. For some context, Luokung provides location-based services and mobile apps for long-distance travelers in China.
Its Luokuang mobile application is a content and service distribution platform that provides a variety of content for consumers in China. In addition, the app provides services such as e-commerce, travel, and entertainment. Luokung also offers software development kits and application programming interfaces. As a very broad player in the tech industry, Luokung has become a mainstay for investors looking to put money into the budding Chinese technology market.
On August 12th, it was announced that IDC Consulting has named Luokung’s variable interest entity, eMapGo has been recognized as a top player in China’s HD maps market. Currently, HD maps in China have a sizable market growth rate that Luokung is working to take advantage of. As a provider of mapping services, Luokung’s products are in a wide range of cars used in China every day. Since two years ago, Luokung’s product, eMapGo has improved its market share in China to 16.15% which is quite substantial. And, with the car market in China growing substantially right now, Luokung could continue to benefit.
“It is an honor to be listed as one of the top players in China’s HD Maps industry among other longstanding, reputable companies in the space. We believe this recognition will add to the positive momentum we have gained in expanding our client base and partnerships so far in 2021, and we look forward to continuing our active leadership in the HD Maps industry in the years to come.”The Chairman and CEO of Luokung, Mr. Xuesong Song
Noting this new information, will LKCO make your list of penny stocks to watch?Ault Global Holdings Inc. (NYSE: DPW)
Ault Global Holdings Inc. is a holdings penny stock that purchases businesses and disruptive technologies through strategic investments. This includes investments in aerospace, automotive, industrial, and medical companies. In the past month, shares of DPW stock have increased by almost 20%, and in the past five days by almost 4%.[Read More] Top Penny Stocks on Robinhood to Buy? 3 Names To Know Right Now
On August 4th, the company announced an additional investment in Alzamend under Alzamend’s investigational new drug application for AL001. AL001 is a product for dementia related to Alzheimer’s disease. While this is just one of DPW’s many investments, its moves in the biotech industry could be worth considering for investors.
“We are proud to support Alzamend in its endeavors to develop treatments and cures for Alzheimer’s, other neurodegenerative diseases, and psychiatric disorders. The Company congratulates Alzamend and its management team in achieving this important milestone, and hope this achievement will encourage the millions who suffer from Alzheimer’s and the millions more who care for them.”Executive Chairman of Ault Global Holdings, Milton “Todd,” Ault III
Alzheimer’s is a disease that affects millions worldwide. And with no cure, many companies are working hard to find the next best treatment. With an IND submitted for Alzamend, it may still take some time before this compound gains widespread approval. However, keeping this new advancement in mind, is DPW in consideration for your penny stock watchlist?Cinedigm Corp. (NASDAQ: CIDM)
One unique penny stock to consider adding to your watchlist is Cinedigm. CIDM stock is a penny stock that we’ve discussed frequently over the past year or so. And in that time Cinedigm has made some major strives.
Aside from its work in the entertainment industry, CIDM stock is frequently discussed on social media platforms such as Reddit and Twitter. This can lead to large intraday spikes or drops in value. Currently, Cinedigm is considered to be a leader in the digital entertainment industry. For over 20 years, it has been responsible for the entertainment of hundreds of millions of people. This has been accomplished through a variety of methods including digital and in-person platforms.
Its goal is to provide the highest quality, premium content for its consumers. More recently it’s focusing on its global clientele and maintaining a constant stream of new entertainment. With the frequently increasing demand for content throughout the pandemic, many companies involved in the entertainment sector have increased substantially in value.
And, Cinedigm offers its streaming and technology services to the world’s largest media, retail and technology companies. In the past month alone, shares of CIDM stock have shot up by a more than solid 64%. YTD, shares are up by over 165%. These are sizable numbers and reflect both Cinedigm’s commitment to offering new and better content and the entertainment industry at large. Considering all of this, will CIDM stock be on your penny stocks watchlist this month?Are Reddit Penny Stocks on Your Watchlist Right Now?
Reddit penny stocks have become some of the most popular choices for investors. This is due to their frequent market moves and a large probability of both upswings and downswings.
However, because they tend to be so volatile, many investors avoid penny stocks on Reddit as they can be risky. But, if you are more of a risk-inclined investor, penny stocks on Reddit could be right for you. With this in mind, are Reddit penny stocks on your watchlist right now?