3 Reddit Penny Stocks to Watch Next Month
Reddit has become a hub for finding the best penny stocks out there. While it is nowhere near the only place to find penny stocks, the vast number of communities or Subreddits, mean that many penny stocks are discussed on Reddit. This can be both a positive and a negative depending on what type of investor you are.
For example, if you are a conservative penny stocks investor, looking for stability, mentions on Reddit could be the last thing your portfolio needs. These mentions often lead to large momentum which can go in either direction.
On the other hand, if you are a growth investor or one who swing trades, then discussions about penny stocks on Reddit can be a major benefit. So, if you’re looking for penny stocks to buy, Reddit can be a great place to start making a watchlist. But, the first step should always be fully understanding what type of trader you are.
In addition, most penny stocks on Reddit tend to be extremely volatile. This means that they can jump or fall with little to no news. So, keep a vigilant eye out, and a close watch on your portfolio. With all of this in mind, let’s take a look at three Reddit penny stocks to watch next month.
3 Penny Stocks on Reddit for Your August Watchlist
Investview Inc. (OTC: INVU)
Investview Inc. is a tech penny stock that shot up by around 24% during trading on July 22nd. This is a company that offers investment tools, market research, trading technology, and more. Investview is also involved in crypto mining and adaptive blockchain technologies. Many tech penny stocks related to blockchain technology have been going up in the market this year. On July 20th, the company announced that its Bitcoin mining subsidiary SAFETek has opened an ASIC miner repair center.
“We opened this new state-of-the-art ASIC repair facility as part of our overall vision to support and streamline our own SAFETek mining operational efficiency while providing much-needed repair services to other Crypto Miners.
We expect the new facility will enable SAFETek and our customers to greatly increase the efficiency and uptime of their mining operations by as much as 30% over time and will extend the life expectancy of mining equipment many years into the future.”
The EVP of Crypto Operations at SAFETek
In the past five days, shares of INVU stock have shot up but around 81$. While INVU stock is only around $0.21 per share, this is still quite a substantial uptick. With this info to note, will INVU make your list of penny stocks to watch in August?
Citius Pharmaceuticals Inc. (NASDAQ: CTXR)
Citius Pharmaceuticals Inc. is a biotech penny stock that develops products for critical care. Its Mino-Lok product is an antibiotic for patients with catheter-related bloodstream infections. This product is currently in Phase III clinical trials to test its efficacy in treatment. Citius has a variety of other compounds in its pipeline that could be worth keeping track of.
On July 7th, the company provided a business update for the first half of 2021. It also highlighted its upcoming milestones in this news release. The company’s Phase 3 Mino-Lok trial is going as planned, currently following recommendations by the Independent Data Monitoring Committee. Citius has a New Drug Application planned for 2022 following the completion of its Phase 3 trial.
“On July 1, 2021, we reported that the independent Data Monitoring Committee (DMC), following its third interim review, recommended continuing the Phase 3 trial for Mino-Lok® without modification.
This recommendation affirms that there is an important efficacy signal that merits moving forward with the trial, there are no safety concerns to warrant halting the trial, and that the full data set upon trial completion may support statistically significant superiority.”
The President and CEO of Citius, Myron Holubiak
With this new info in mind, will CTXR stock make your penny stocks watchlist next month?
Endo International PLC (NASDAQ: ENDP)
Up by around 3.5%, or so at EOD are shares of ENDP stock. Much of its bullish gain today is based on the conclusion of a lawsuit and settlement of $35 million. While this did not go in ENDP’s favor, it seems as though investors are relieved to see this come to an end. While Endo does have a lot going for it as a biotech company, investors were concerned about this lawsuit. And of course, a settlement is a better course of action than a trial left up to a jury.
And, although neither are a benefit to the company, this is, unfortunately, the situation it is in. On August 5th, Endo International plans to announce its Q2 2021 financial report. To understand why this is important, we can take a look at its Q1 numbers. During the first quarter, Endo reported that revenue fell by around 12% to $718 million. In addition, its net income dropped by almost 70% to $41.5 million. These numbers are disheartening, however, investors should wait to see its upcoming report for any progress.
For some context, Endo is a manufacturer of a large range of very common drugs. This includes PERCOCET, NASCOBAL, LIDODERM, VASOSTRICT, and more. Because of this, it does have a large base of customers that use its compounds on a regular basis. While it has come under fire for the addictiveness of some of its opioid-based drugs, the conclusion of the related lawsuit mentioned above is good news for the company. Considering all of this, will ENDP stock be on your list of penny stocks to watch next month?
Why Investors Love Reddit Penny Stocks
Penny stocks on Reddit continue to be some of the most trending stocks out there. This is because price action can occur quickly and result in double or even triple-digit gains on a trading day.
While this may be scary to some, others live and breathe Reddit penny stocks. So, considering this, know what type of investor you are, and if trending stocks fit into your portfolio goals. With this in mind, it’s no wonder why so many investors are finding penny stocks on Reddit.