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4 Reddit Penny Stocks To Buy For Under $5 As Trump Stocks Jump

Trump Penny Stocks To Watch Right Now

The debut of former President Donald Trump’s Truth Social media platform has caused a stir in the stock market today. Once again, news headlines have sparked a surge in companies with any type of exposure to the alternative social media company. While investors remain focused on big picture stocks like this, others hunt for cheap penny stocks that might have something to do with the former U.S. President.

This has been a phenomenon since the SPAC market woke up thanks to the newest Facebook competitor. What’s more, the company is back in the spotlight this week thanks to news that it would raise $1 billion through a PIPE transaction.

Former President Donald Trump, also chairman of Trump Media, explained that “$1 billion sends an important message to Big Tech that censorship and political discrimination must end. America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology. As our balance sheet expands, TMTG will be in a stronger position to fight back against the tyranny of Big Tech.”

It is trends like this, which have given rise to the strength of retail traders. Though “Trump stocks” are one of the underlying themes, look on popular social media platforms like Reddit and Twitter. You’ll see many “investor round tables” discussing numerous penny stocks. Remember, however, even though these cheap stocks can be bought for under $5 (as the title says), it’s up to you to decide if they’re worth the risk.

Reddit Penny Stocks To Watch

Datchat Inc. (NASDAQ: DATS)Phunware Inc. (NASDAQ: PHUN)Paysafe Ltd. (NYSE: PSFE)Virpax Pharma Inc. (NASDAQ: VRPX)

Datchat Inc. (NASDAQ: DATS)

Shares of DATS stock are no stranger to huge moves. Following its IPO, we discussed the company in more detail (See: Penny stocks to watch as tech tries to rebound). Since Day 2 of its public action, DatChat has managed to turn heads for its technology platform centered around privacy and security. DatChat folds blockchain, cybersecurity, and social media into a single platform. Users can delete messages and posts and protect themselves from anyone taking a screenshot of them before getting deleted.

With a focus on things like former President Trump’s alternative social media platform, other companies like DatChat have found a place in the eyes of traders. In particular, its private social media platform has become a point of interest for the DeFi community. CEO Darin Myman said in a recent update that the DatChat platform could play an important role for both DeFi and NFT’s.

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Looking ahead, the proposed launch of DatChat Blockchain could attract some interest. The company discussed its plans on exploring a proof of participation and a potential proof of stake opportunity for holders of its NRD Points, converted into tokens. When or if launched, all of this will be accessible within the DatChat platform according to the company.

Phunware Inc. (NASDAQ: PHUN)

With a more direct tie-in to the trend in “Trump Stocks,” Phunware has been in the spotlight several times since the launch of the Trump SPAC. The company specializes in enterprise cloud technology for mobile platforms. A few of the things that have caught some attention lately deal more with Phunware’s involvement in the cryptocurrency space than anything else (however, there is a Trump angle, and I’ll explain).

Over the last few months, Phunware has focused on launching its PhunCoin cryptocurrency. Last month this finally came to fruition, and PhunCoin became available for trading on the Securitize platform. This is a blockchain-enabled transfer agent registered in the U.S. Its PhunWallet manages the coins. Obviously, with the recent drop in crypto prices, the digital asset angle might be questioned right now as PHUN stock surges.

In this case, it’s important to mention that Phunware’s endeavors have also given it exposure to Trump-related business. News from 2020 helped re-spark attention on the penny stock. Punware reported a partnership with American Made Media Consultants to develop, launch, and ongoing management of the Trump-Pence 2020 Reelection Campaign’s mobile application portfolio for Apple iOS and Google Android smartphones. Thanks to this, PHUN has remained a focus whenever Trump stocks move.

Paysafe Ltd. (NYSE: PSFE)

This month, Paysafe is getting acclimated to its current price levels as somewhat of a new penny stock. I say this because PSFE stock has generally traded above $7 since its public debut. However, after discussing cutting its sales guidance in its latest quarterly update, PSFE took a dive. In particular, the company said it expects 2021 sales to come in at a range of $1.47 billion to $1.48 billion. It previously set expectations to a range of $1.53 billion to $1.55 billion. Meanwhile, analysts were expecting the same based on prior guidance. This misstep saw shares slide as low as $3.18 over the last few weeks.

Paysafe offers payment processing solutions, digital wallets, and online cash solutions for its clients. Philip McHugh, CEO of Paysafe, explained that softer revenue during Q3 reflected market and performance challenges in the digital wallet business. However, he also explained, “While the recent trend will drive an adjusted financial outlook, we continue to see strong momentum across the business. Our position to win in high growth and disruptive markets including online sports betting and crypto continues to accelerate.”

This week, the focus is on insider sentiment. Even after this significant drop during Q4, it appears that the CEO is doubling down on his stance. He, other executives, and directors purchased roughly $2.8 million worth of stock.

Virpax Pharma Inc. (NASDAQ: VRPX)

Shares of Virpax have been trending sideways over the last few weeks. However, an uptick in activity on Wednesday has turned some attention to the penny stock. Following an open of $4 on December 8, VRPX stock jumped to early highs over $4.60. The company specializes in pain management product development and candidates for central nervous system disorders and anti-viral indications.

This week Virpax came out with news that seems to have resonated with the market. The company reported upbeat results following the completion of toxicology and pharmacokinetic studies designed to support clinical trials with Epoladerm. This is one of its lead investigational product candidates for managing pain associated with osteoarthritis of the knee.

In light of these results, it’s also important to note that Virpax is seeking FDA approval of Epoladerm as well as two other patented drug delivery platforms. For instance, Probudur is its liposomal bupivacaine formulation in development for managing post-operative pain. Envelta is a product being developed for managing acute and chronic pain, including pain associated with cancer and post-traumatic stress disorder. In response to the latest Epoladerm, Anthony P. Mack, Chairman and CEO of Virpax. commented, “This is an important step in the development of Epoladerm and further prepares us for expected clinical trials.”

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Are Penny Stocks Worth It?

Penny stocks are highly volatile, very risky, and many times misunderstood. However, if you like opportunities to make money quickly, taking time to learn how to buy and trade these cheap stocks can be well worth it with the proper strategy in mind.

The post 4 Reddit Penny Stocks To Buy For Under $5 As Trump Stocks Jump appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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