If you’re looking for the best penny stocks to buy today, you’ve got your pick. Social media has become the new “investor lunch table” for gaining insight into stock market trends. With that can come plenty of noise and confusion, especially if you’re new to trading. Regardless, there’s a lot of value in knowing where trends start, why they started, and if they’re sustainable. Today we look at a handful of the most active penny stocks on Reddit and other social outlets.
Penny Stocks TL;DR 30-Second Summary
Penny stocks are some of the most acively traded equities in the stock market todayThey attract thousands of traders per week based on different trendsOne of the biggest trends in the stock market today is what’s trending on social mediaToday we look at some of the most actively discussed penny stocks on Reddit and other social media today. Will they push higher on this surge of interest?
Social media has become a mecca for retail traders, and rightfully so. Companies like AMC and GameStop got their “meme stock monicker” from the groundswell that top subreddits created last year. Now, it’s commonplace to see cheap stocks record explosive gains daily. Today we look at a few penny stocks to watch with growing popularity on Reddit and other social media outlets.
Reddit Penny Stocks To Watch
SeaChange International Inc. (NASDAQ: SEAC)Creative Medical Technology Holdings (NASDAQ: CELZ)Diversified Healthcare Trust (NASDAQ: DHC)IMAC Holdings Inc. (NASDAQ: IMAC)Quoin Pharmaceuticals Ltd (NASDAQ: QNRX)
1. SeaChange International Inc. (NASDAQ: SEAC)
Social media, as an industry, is what has put SeaChange International in the spotlight. With the rise of apps like TikTok, competition has become fierce. One of the stand-outs, Triller, originally made waves on speculation that it could IPO or go public in the future.
Fast-forward a bit, and we have SeaChange International in Triller headlines. More specifically, SeaChange confirmed that it entered into a definitive agreement and merger plan with Triller Holdco. The goal is advancing digital advertising with TrillerVerz and, according to the company, this deal is anticipated to produce a combined company valued at roughly $5 billion.
Since the deal is expected to close this quarter, attention has come to the stock following the late 2021 pull-back. Adding to the market action and social media attention are other things, including SEAC as a stock with higher short interest. Short squeeze penny stocks have become a popular topic of discussion among retail traders. Based on the latest data from Fintel.IO, the short float percentage is sitting around 13% right now.
2. Creative Medical Technology Holdings (NASDAQ: CELZ)
Shares of Creative Medical have been red hot since early December. As we discussed in the article, “Low Float Penny Stocks To Buy For Under $5 After RELI Surges 250%,” the company’s recent uplist to the Nasdaq seems to have turned some heads. The regenerative medicine and stem cell technology company develops a pipeline targeting many indications. These include neurology, urology, orthopedics, and immunotherapy.
While things have been quiet during the new year so far, momentum remains in play following its Nasdaq IPO. In addition, the latest focus on Creative’s stroke candidate, ImmCelz, may have also become a focus. New data were released last quarter showing an ability to “reprogram” immune cells.
“The data disclosed today suggest the ability of ImmCelz to achieve superior results in a manner which is amenable to safe, scalable, and rapid clinical translation,” said Dr. Camillo Ricordi, member of the Company’s Scientific Advisory Board. Furthermore, ImmCelz has already demonstrated effectiveness in animal models of autoimmunity. It is currently the subject of a pending IND filed by the Company with the FDA to treat stroke victims. As the market awaits further details on the NDA, CELZ stock has traded higher this year.
3. Diversified Healthcare Trust (NASDAQ: DHC)
Shares of Diversified Healthcare stock have been ripping since mid-December. The comapnhy’s model is simple. As a real estate investment trust (REIT), the company owns high-quality healthcare properties in the US. It has an $8.2 billion portfolio with more than 390 properties across 36 states and Washington, D.C. Diversified Health is also managed by the RMR Group (NASDAQ: RMR), which is an alternative asset management company.
Heading into the start of 2022, there are a few things on watch right now. First, earnings could be a sticking point for some. That comes after mixed results from Q3 sent DHC stock in a downward spiral in November. The company missed earnings per share and sales. However, the miss could have been attributed to a transitionary period in the company.
Speaking to this, Jennifer Francis, President and Chief Executive Officer of Diversified Healthcare Trust, said, “In the third quarter, we made substantial progress transitioning the management of a number of our senior living communities from Five Star to new third party managers…we have signed new management agreements for 107 transitioning communities, and 99 of these communities have been transitioned, with the expectation that the remaining eight will be transitioned by year-end.”
Interestingly enough, with the next round of quarterly and annual earnings expected, analysts seem to have grown bullish on DHC stock. B.Riley raised its price target on Diversified Health right before the end of 2021. The firm has a Buy on the stock and moved its $5 target up by 20% to $6.
4. IMAC Holdings, Inc. (NASDAQ: IMAC)
Since the start of the year, IMAC stock has been one to watch. It started trading around $1.10 and has since jumped as high as $1.49. The health and wellness center management company has focused on expanding its “The Back Space” retail centers, most recently. In a recent Q4 update, CEO Jeffrey Ervin spoke in more detail.
“We are excited to continue our progress in opening additional ‘The Back Space’ locations. We have established a platform to deliver affordable spinal health and wellness services in a superior location…As we execute the ten-store pilot, we have identified several opportunities to improve on subsequent store openings, which will reduce completion time and opening costs. Our well-established buildout process drives strong value and will be a benefit beyond the pilot program should we expand our store count.”
Looking ahead, next week could be an important one for IMAC. The company attends HC Wainwright’s BIOCONNECT Conference. Jeffrey Ervin will be presenting at the event taking place between January 10th and the 13th.
5. Quoin Pharmaceuticals Ltd (NASDAQ: QNRX)
Thanks to analysts, specialty pharmaceutical company Quoin Pharmaceuticals Ltd came into the spotlight late this week. Maxim Group initiated coverage on the company with a Buy rating. The firm also gave an initial price target of $5, which is more than 100% higher than current trading levels right now. This is the latest in a series of analyst ratings on the company. Last month, JMP Securities initiated coverage on Quoin with a Market Outperform rating and $8 target.
One of the recent initiatives that may have prompted this bullishness is the company’s QRX003 treatment candidate for a genetic disease known as Netherton Syndrome. Quoin signed exclusive licensing agreements with AFT Pharmaceuticals, Genpharm Services, and Orpharm LLC for the treatment. AFT provides access to commercialize QRX003 in Australia and New Zealand. Meanwhile, Genpharm is extending its reach in the Middle East and North Africa, with Orpharm exclusively working in Russia and Commonwealth of Independent States in that region.
With the latest exclusive agreements and a bullish outlook from analysts, QNRX could be one of the Reddit penny stocks to watch right now.
Reddit Penny Stocks
If you’re like most, Reddit, Twitter, Facebook, TikTok, and other platforms are quick ways to see what the masses are talking about. With that can come plenty of information. How useful that info is can be difficult to determine, but it certainly impacts the hype factor of trading. For that reason, always make sure to do your research to determine the best course of action, whether it’s time to buy penny stocks or avoid certain stocks entirely.
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