Shares of several penny stocks are on the rise today as Reddit investors continue to pick out the top ones to take a risk on.
The gaining interest in penny stocks comes from retail traders that see a low entry point and a way to make a quick buck. That low entry point makes it easy to pick up loads of shares for just a little cash. That can lead to investing groups on social media planning pump and dumps of penny stocks.
Penny stocks are already volatile without the help of Reddit. Add in the effect of social media day traders and you’ve got an investing environment that isn’t for the faint of heart. Even so, that isn’t stopping some investors from jumping in to search of profits.
Keeping all of that in mind, we’re taking a look at the top penny stocks today that more daring investors may want to keep an eye on.
- Bayport International Holdings (OTCMKTS:BAYP) — There’s no news specifically for BAYP stock today but shares are up 169% for the oil and gas mining company.
- SeaChange International (NASDAQ:SEAC) — SEAC stock is soaring 67.6% higher Monday after announcing a multi-million-dollar contract with a major U.S. broadband service provider.
- Universe Pharmaceuticals (NASDAQ:UPC) — UPC was up 75.3% at the time of writing as retail investors on social media boost the stock higher.
- China Pharma Holdings (NYSEAMERICAN:CPHI) — CPHI stock is on the rise with a 32.2% increase after the company released its earnings report after-hours Friday.
- Cyanotech Corporation (NASDAQ:CYAN) — CYAN is another stock up with no news today with shares climbing 29.8% higher, which makes it likely that retail traders have something to do with today’s movement.
These are the top penny stocks for risky investors to keep track of today but there are others worth making note of.
Penny stocks have been gaining interest with investors as social media forums such as Reddit continue to see trading groups grow. Examples include Globalstar (NYSEAMERICAN:GSAT), Oriental Culture Holding (NASDAQ:OCG), and Numinus Wellness (OTCMKTS:LKYSF). Check out these penny stocks and more below.
More Penny Stocks News
- 7 Penny Stocks That Might Be Headed to $0
- Tomslist: The 5 Top Penny Stock Stories of the Week: OCG, SPRT, DLPN, ZOM, SNDL
- Numinus Wellness May Be the Best Penny Stock to Buy Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed
