Top Reddit Penny Stocks to Watch Now

Welcome to my new weekly watchlist post — the top Reddit penny stocks to watch now. 

I’m switching things up.

Why? Well, I’m sure you remember the Reddit chat room WallStreetBets. It’s responsible for the short squeezes and hedge fund blow-ups in meme stocks like GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings, Inc. (NYSE: AMC).

But with GME and AMC trading around $270 and $56 respectively, they’re out of penny stock territory. And that means out of reach of a lot of traders with small accounts.

That’s why I’ve created this list of the top Reddit penny stocks to watch. First, I love penny stocks. And second, I want to teach traders with small accounts that they can capitalize on the volume, hype, and volatility these chat rooms can create.

But don’t ever blindly follow or listen to promoters or pumpers on social media and in chat rooms. They all claim these stocks are going to the moon. They’re not.

Most penny stocks fail.

Always expect the worst from every company so you won’t be disappointed. Be ready to take advantage of the hype and volatility, trade your patterns, then move on.

Here are the top Reddit penny stocks to watch this week… 

5 Reddit Penny Stocks to Watch This Week

I’ve cut through the noise and chatter on Reddit and come up with these top five Reddit penny stocks to watch now.

Remember, this watchlist isn’t a recommendation to buy or trade these stocks. See if any of them fit your strategy, then make your trading plan.

If you’re new to trading penny stocks, get my FREE guide to trading this niche here.

Let’s do this…

Reddit Penny Stocks to Watch #1: Atossa Therapeutics, Inc. (NASDAQ: ATOS)

ATOS has had the attention of Reddit traders for a while now. It’s a biotech company that develops treatments for oncology and infectious diseases.

Yesterday the company announced the management team will release Phase 2 data in an upcoming webinar. The webinar is scheduled for June 9 at 8 a.m. Pacific.

The stock broke out over $5 and officially left penny stock land following the news. Although it’s not technically a penny stock anymore, it’s one of the most hyped-up stocks in the Reddit penny stock chat room. Some traders have even given it a $40 price target.

There’s no way I’d hold and hope for that price target. But with hype, high volume, a catalyst, and new 52-week highs, this one has potential. I don’t like to chase, so I’ll watch for dip-buying opportunities.

Reddit Penny Stocks to Watch #2: Citius Pharmaceuticals, Inc. (NASDAQ: CTXR)

CTXR is another biotech company and Reddit favorite. The company develops anti-infective and other critical care products.

Yesterday the company announced its inclusion in the Russell 2000 index as of June 28.

Company president and CEO Myron Holubiak said, “Our inclusion in the Russell index is an important milestone for Citius that reflects the continued progress we are making to develop and commercialize first-in-class treatment options for patients around the world.”

Read the full press release here.

Yesterday the stock broke above resistance around $2.50. The next resistance on the chart is around $2.90. It’s a choppy stock and I’d like to see more volume for it to potentially break out to new 52-week highs.

Reddit Penny Stocks to Watch #3: Broadway Financial Corporation (NASDAQ: BYFC)

BYFC provides banking products and services.

It doesn’t trade high volume like some of the other Reddit penny stocks. But it’s a former multi-day runner and it has a potential multi-day breakout level set around $2.80.

If the Reddit chatter continues, it could potentially break out.

Reddit Penny Stocks to Watch #4: American Battery Metals Corporation (OTCQB: ABML)

ABML is a company that mines for and recycles battery metals.

Reddit is buzzing about the company’s application to uplist to the Nasdaq. That news came out on May 20. There’s also a thread about President Biden’s plan to push for battery recycling plants in the U.S.

ABML owns mining claims and 120 acres of private property in Nevada.

The stock has a history of multi-day runs. But I’d like to see it get over $2.50 with high volume to push higher.

Reddit Penny Stocks to Watch #5: Xeris Pharmaceuticals, Inc. (NASDAQ: XERS)

XERS is another biotech company. It develops ready-to-use injectable drug treatments.

On May 24, the company announced it will acquire Strongbridge Biopharma plc (NASDAQ: SBBP).

“Upon close of the transaction, the businesses of Xeris and Strongbridge will be combined under a new entity to be called Xeris Biopharma Holdings, Inc. (‘Xeris Biopharma Holdings’).”

Read the full press release here.

Redditors are chatting about the potential for a short squeeze and mention a price target of $8. Again, I wouldn’t hold in hopes of it reaching that price. I’ll watch for a multi-day breakout over $4.40.

See the Penny Stocks I’m Watching

Want to know which stocks I’m watching each week?

Subscribe to my no-cost weekly watchlist. I’ll send my list of the top stocks to watch to your inbox every Sunday.

If you want even more stocks to watch, keep up with my blog. I update these watchlists every week:

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But I don’t want you to blindly follow stock picks and alerts from anyone — including me. Learn the reasons behind my trades and stock picks. Then learn to find your own. Become self-sufficient just like my top students…

And all of my 10+ millionaire students have come from my Trading Challenge.*

If you’re accepted you’ll get access to all my top trading education resources — video lessons, webinars, all my DVDs, plus access to the top Challenge traders in my chat room.

If you’re truly dedicated to learning the process and mindset it takes to make it in the markets long term — apply to the Trading Challenge today.

The Final Word on Reddit Penny Stocks

Reddit chat rooms have the potential to push stocks higher. They can create giant short squeezes and supernovas. We’ve seen it happen in the past.

And although the past doesn’t repeat itself exactly, it often rhymes.

I’m in no way saying run out and buy these Reddit penny stocks. The chat rooms can be full of promoters and bots just as much as Twitter. But stocks with high volume and hype could present opportunities. So watch them for potential plays.

But always have a trading plan and stay disciplined. And never believe the hype.

Not sure which pattern or strategy is best for you? Watch the market, practice by paper trading on StocksToTrade**, and study all my trading education resources.

And when you’re ready, apply for my Trading Challenge.

Which of these Reddit penny stocks do you think has the most potential? Let me know in the comments … I love to hear from you!

Disclaimers

*This level of successful trading is not typical and does not reflect the experience of the majority of individuals using the services and products offered on this website.  From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. 

**Tim Sykes has a minority ownership stake in StocksToTrade.com.

Source: https://www.timothysykes.com/blog/reddit-penny-stocks/