3 Reddit Penny Stocks to Watch in January 2022
Reddit penny stocks remain some of the most popular small-caps in the market right now. While the term itself simply implies any under $5 stocks that are discussed on Reddit, it does go further than this. When it comes to finding penny stocks on Reddit, investors need to be extremely selective. This means understanding exactly what the company does and what its potential movement pattern could be.
Because there are so many penny stocks mentioned on the platform, volatility remains extremely high across the board. So to avoid seeing your portfolio turn the other direction, investors should have a well-thought-out trading strategy on hand. With so much going on in the stock market, using a strategy and understanding the news are together, more crucial than ever. With that in mind, let’s take a look at three Reddit penny stocks to watch right now.
3 Penny Stocks on Reddit to Watch Right Now
DiDi Global Inc. (NYSE: DIDI)
One of the bigger gainers during intraday trading today is DIDI stock. By EOD, shares of DIDI pushed up by almost 10%, bringing it to just south of $4.90 per share. Despite a one-year drop of more than 65%, we are seeing a small bullish turnaround for the company right now. So, what does DiDi do and why are shares flying high right now?
Well, earlier in the trading day, news dropped that the co-founder of the company left his position as chairman and CTO of the company following a cybersecurity investigation. This announcement comes around six months after the Cyberspace Administration of China announced its investigation into DiDi. Now, DIDI is also scheduled to be delisted from the NYSE, which is not great news for investors. While the company began high in mid 2021, it has since seen a bearish demise. And now, this latest round of news continues to not inspire confidence.
So, while there is hardly a case to add DIDI stock to your penny stocks watchlist, there is one reason to consider it. With penny stocks, many investors look for companies with short term gaining potential. This offers the ability to make (or lose) money with large intraday moves. While it’s hard to see bullish sentiment with DIDI stock in the future, it is clear that it is moving right now. So, with a grain of salt, do you think DIDI stock is worth watching?
Bark Inc. (NYSE: BARK)
One of the largest gainers of the day on January 11th is BARK stock, which shot up by over 27% by EOD. The main news behind this gain comes as the co-founder of the company and executive chairman, Matt Meeker, announced that he would become CEO effective immediately. Mr. Meeker had been CEO of BARK for nine year after the company was founded.
Meeker stated that “I am eager to resume the role of Chief Executive Officer and build on the momentum that Manish and the talented team at BARK have achieved.” The real news behind today’s gain however comes as the company announced preliminary fiscal third quarter revenue of $140 million. This represents a 33% increase YoY, which is no small feat whosoever. Additionally, the company states that it’s top-line has increase by 41% to $377 million over the same period of the previous year.
If you’re not familiar, Bark Inc. is as its name may imply, a producer and designer of dog toys, treats, meal plans, supplements and more. It has partnerships with Target and Amazon, and is well regarded in the industry. With the adoption rate for companion animals increasing significantly during the pandemic, it seems as though BARK stock is in an advantageous position right now. But, whether it is worth adding to your list of penny stocks to watch or not is up to you.
Clover Health Investments Group Inc. (NASDAQ: CLOV)
Clover Health Investments is a healthcare company that focuses on seniors via its holistic approach. The company utilizes its Closer Assistant platform to revolutionize the way that patient data is collected and used. This software allows for physicians to provide real time care with personalized recommendations and more. Today, shares of CLOV stock shot up by around 3% on news regarding its Medicare memberships. The company stated during premarket that it beat expectations for its Medicare Advantage Membership by over 25% since the beginning of this year.
“Our continued industry-beating growth is a testament to the value consumers find in our approach of providing high quality plans, at a low cost, on a wide and open network. We believe our dramatic growth in Georgia demonstrates how the model we honed in New Jersey is replicable in more states and look forward to further establishing Clover’s MA presence in key markets this year.”
The President of Clover Health, Andrew Toy
This is great news for the company and reflects both the growing healthcare market and Clover’s placement within it. Right now, the company is working to move further into several key industries around the U.S., which should help to improve its growth. Considering all of this, is CLOV stock a worthwhile buy right now or not?
Which Reddit Penny Stocks Are You Watching Right Now?
As we end another day of trading penny stocks, there is plenty to think about right now. When it comes to Reddit penny stocks, investors need to have an even greater understanding of what the company does and how to take advantage. In the past few months, we’ve seen speculation and volatility continue to rise, resulting in major daily price jumps across the board.
And with Covid cases continuing to push up globally, many investors expect these fluctuations to continue into the near future. So, always make sure that you have a strategy at hand that can shift with the present. Considering this, which Reddit penny stocks are you watching right now?
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