3 Reddit Penny Stocks You Should Know About in October 2021
Reddit has become one of the most popular places to find penny stocks to watch. And, there are a few good reasons why that is the case. For one, finding penny stocks on Reddit can be a valuable way to gain insight into which stocks are popular.
And with penny stocks, popularity is often a major cause for big gains (and losses). Because of this, investors often scour Reddit to see which stocks are trending, and which could become trending in the coming weeks to months. And as a result, Reddit serves as a great place to begin making a penny stocks watchlist.
But, with great power comes great responsibility. This means that investors should always be wary of the stocks they stumble across online. While a company may look attractive, it’s always worth doing the proper research to find out everything you can about a stock you’re interested in.
Too often, investors will find stocks that look attractive, only to see major losses in their portfolios. And the main reason for this is a lack of research and understanding of what the company does, and what its price action could look like. So, always find out as much information as you can, and use that to your advantage. Considering all of this, let’s take a look at three penny stocks on Reddit to watch in October 2021.
3 Penny Stocks on Reddit to Watch in October
LM Funding America Inc. (NASDAQ: LMFA)
LM Funding America Inc. is a financial penny stock that has climbed by over 23% in the past month. If you’re unfamiliar, LM Funding is a company that offers funding to nonprofit community associations. Primarily, LM Funding America offers its services to those based in Florida, Washington, Illinois, and Colorado. It offers funding to associations by purchasing their rights under delinquent accounts chosen by associations from unpaid assessments.
On October 6th, the company announced that it has further expanded its cryptocurrency mining business. LM Funding America has now purchased an additional 4,000 S19J Pro Antminer Machines. To date, the company has bought 5,000 of these Bitcoin mining machines from Bitmain for $31.6 million in total. This specific deal was accomplished for a total of $25.3 million. The company expects all miners to be operational by the third quarter of 2022. While this may seem out of the ordinary for LM Funding’s business, it is constantly moving in directions where opportunity may be.
“In September, we began to purchase Bitcoin mining machines as a cost-effective way to purchase Bitcoin assets at a risk-adjusted exposure to the ecosystem while generating positive operating income. Our initial plans have expanded with the purchase of an additional 4,000 miners at favorable prices.”
The Chairman and CEO of LM Funding, Bruce M. Rodgers
In the past few trading days, LMFA’s volume has been much higher than its average. This indicates a high degree of popularity for the company right now. With this info to note, will LMFA make your penny stocks watchlist?
Ambev S.A. (NYSE: ABEV)
Ambev S.A. is a penny stock that has climbed by over 3% in the past five days. While this may not seem substantial, it does represent a small bullish turnaround from the previous few months of trading with ABEV stock. Ambev S.A. is a company that sells alcoholic drinks, non-alcoholic drinks, and various food products. The company is involved in the production, distribution, and sale of these products. Some of the alcohol brands sold by Ambev include Modelo, Bud Light, Budweiser, and Stella Artois. In the non-alcoholic beverage section, the company offers products under the Pepsi, Lipton, Gatorade, and Canada Dry brands among many others.
There have not been many recent updates to come from Ambev in the last month. However, the company did release an earnings and operating update for the second quarter of 2021 in July. Ambev appears to have made some progress after the pandemic has slowed down. Its net revenue increased by 36% year over year. In addition to this, its adjusted profit increased by a solid 116%.
Furthermore, during the second quarter, its consolidated volumes hit a new company record. All of these numbers are highly positive signs for the company, and show that it is working hard to grow It’ll be interesting to analyze what Ambev reveals in its third-quarter results, which have yet to be released. The last 5 days in the market are looking good for ABEV, as it has increased in value. Considering the above, will ABEV be on your penny stock watchlist this month?
Cyren Ltd. (NASDAQ: CYRN)
Cyren Ltd. is a tech penny stock that provides a wide range of information security solutions. These solutions are used to protect email, mobile transactions, and more. It offers these services in the U.S., Germany, Europe, and more. Its SaaS cybersecurity solutions are used by businesses, their employees, and customers to protect them. It offers Cyren Email Security, Cyren Inbox Security, and much more.
On October 13th, the company announced that Fleet Response has selected Cyren Inbox Security as a part of its defense in depth strategy to defend its organization. The service will be used to prevent Fleet Response from dealing with phishing, business email compromise, and more. This will also help the company spot malicious emails without having to use their IT team’s resources to do so.
“Businesses can address the problem with highly complex technologies and processes that require a staggering amount of manual effort, or, like Fleet Response, they can save money by adopting Cyren Inbox Security to automate the detection and remediation of targeted attacks like phishing and business email compromise.”
The Chief Strategy Officer and EVP of Advanced Solutions at Cyren, Lior Kohavi
Similar to ABEV, we’ve seen a small bullish turnaround in the past few trading days with CYRN stock. In addition, its trading volume has been much higher than its market average. Based on this new update, will CYRN stock be on your list of penny stocks to watch?
Which Reddit Penny Stocks Are You Watching Right Now?
Finding the best penny stocks to buy on Reddit can be challenging. However, with so much information available online, investors have access to a myriad of research tools to help them in their search.
Considering that there are hundreds of penny stocks to choose from, understanding exactly what the company does will help to ensure that you have a better chance of making money with penny stocks. With all of that in mind, which Reddit penny stocks are you watching right now?