Reddit is beneficial at-least monetarily if you are considering or in fact are trading in penny stocks.
There is increase in trading volumes and companies that get listed in exchange due to the capitalist nature of the economy. Essentially, the market is now open and hot for trading in any kind of stocks including Penny stocks on platforms such as Reddit.
What to look for in Top Reddit Penny Stocks:
Look for listed stocks and always invest in listed stocks that follow U.S. regulations. Also, avoid low liquidity stocks as they are prone to manipulation from insider trading.
What influences Top Reddit Penny Stocks:
Social media is the largest influencer now-a-days then the next is the word of mouth. Both these influence stocks and have a large sway on the investors.
How to evaluate Top Reddit Penny Stocks:
Ratios are the major performance indicator in terms of financial information. The next indication is the credibility and trust that company shows in their business proceedings, overall.
Minimizing Risks with Top Reddit Penny Stocks:
Only risk what you can afford to lose. There are no guarantees in investing, especially when you are trading penny stocks. You should only trade with money that you can afford to lose if the worst-case scenario does happen
4 Top Reddit Penny Stocks:
- (NASDAQ: SNDL) Sundial Growers Inc
- (NYSEARCA: GLD) SPDR Gold Trust
- (NASDAQ: NAKD) Naked Brand Group Ltd
- (NASDAQ: CTXR) Citius Pharmaceuticals Inc
(NASDAQ: SNDL) Sundial Growers Inc
Staring with the Sundial Growers inc. we can safely assume on performance metric that they are hot to invest in now as they have been performing well on all fronts. The basic business that they participate is Cannabis in Canada from Calgary, Canada.
The fact that they are making money and pushing the bar higher for other Penny Stocks is sufficient enough supported with the rise of 12% in the first Quarter. The company has shown their interest in acquiring Inner Spirit Holdings with its retail Cannabis network. This improves the opportunity for investors to invest and make money in the upcoming post-acquisition months.
(NYSEARCA: GLD) SPDR Gold Trust
The trust manages investment in gold and is in fact influenced by the gold prices changes. Due to the inflation rise and financial market downturn the world has seen US dollar deteriorate globally. The prices of gold have increased as a global phenomenon as investors have shifted their interest form financial lending markets to hard metal gold. It will be a good investment to keep an eye for this Penny stock.
(NASDAQ: NAKD) Naked Brand Group Ltd
As a result of growing and remerging retail clothing brands the process of stocks in garments retail have increased a lot and according to some, more then they should. Same is the case for Naked Brand Group which operated from Australia. Raising a substantial amount of $270 million and after clearing its debts and reserving the additional into assets saving the company has yet to offer its real value for the investors. Maxed at 1 $ per share, it has temporarily set at 0.69 and is bound to rise in upcoming months. So, keep an eye out for the financial performance they come up with and carefully evaluate, and you might make some money out of it.
(NASDAQ: CTXR) Citius Pharmaceuticals Inc
Citius is a pharmaceutical company dedicated to developing and commercializing therapeutic products to growing markets. The organization is based in Cranford, New Jersey.
They have a different and diverse portfolio with up-coming projects and a reserve of $104 million in their holdings. They seem to have ventured into capable waters and are bound to amaze investors with their current stock prices at $ 2.34 but soon to increase amid financial global stability with the return of investors.
They have shown stable share prices in the previous quarter but will show the rise for the better as the year progresses based on their revolutionary therapy called Mino-Lok for cancer treatments.
With the risk and uncertainty of trading penny stocks, this option is not a great choice for everyone. However, if you can tolerate a little risk and think quickly on your feet, penny stock trading can be a great source of income with the potential for massive gains.
Simply put, invest in the best !!!