Reddit penny stocks continue to be a hot subject among retail investors. It makes sense too. Those that aren’t afraid of the risks can work together to pump up the price of a stock before jumping out with the profits. It’s not for the faint of heart, but it is a proven strategy.
Of course, these investors have to have somewhere to collect and that’s where r/pennystocks comes into play. This is a subreddit dedicated to the discussion of penny stocks. Here retail investors list their favorite picks for the market and trying to build up hype among other members on the board.
Keep in mind that penny stocks can be dangerous investments and aren’t for everyone. Even so, those interested are in luck are we’re covering the most talked-about penny stocks over on Reddit.
Reddit Penny Stocks: Citius Pharmaceuticals (CTXR)
All about the company: Citius Pharmaceuticals (NASDAQ:CTXR) is a specialty pharmaceutical company targeting growing markets. It does so through ‘new and expanded indications for previously-approved pharmaceutical products.”
What the stock is doing today: CTXR shares are up 3.9% Friday morning.
What Reddit has to say: Redditors’ interest in the stock comes as they prepare for possible gains on Phase 3 trial news. However, others argue that the stock is just a pump and dump for users of the subreddit.
Reddit Penny Stocks: 180 Life Sciences Corp. (ATNF)
All about the company: 180 Life Sciences (NASDAQ:ATNF) is another pharmaceutical company loved by redditors. Its focus is on developing treatments for inflammation, which is a major driver of diseases.
What the stock is doing today: ATNF stock was up 2.6% this morning.
What Reddit has to say: Redditors are investing in this stock with hopes of getting it up to $10 per share. If they’re right it could push the stock high enough that it would lose its penny status.
Reddit Penny Stocks: Castor Maritime (CTRM)
What the stock is doing today: CTRM shares are up 2.4% Friday morning.
What Reddit has to say: Redditors seem to be reacting positively to today’s acquisition news. This has some believing the company is finally ready to end its recent dilution.
Reddit Penny Stocks: Canopy Growth Corp (CGC)
What the stock is doing today: CGC was up 1% in morning trading.
What Reddit has to say: Talk on the penny stocks subreddit of late seems to be about the value of CGC shares. Some have already exited the stock, but others are holding out for shares to skyrocket.
Reddit Penny Stocks: Zomedica (ZOM)
What the stock is doing today: ZOM stock was down 4.4% this morning.
What Reddit has to say: Redditors are comparing investments today and ZOM is among those. A few are talking about how they’ve lost money investing in the stock.
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