Penny Stocks to Buy Now? Why Reddit Traders Are Watching These 10

9 Luglio 2021 Rassegna Stampa

July 9, 2021 7 min read

This story originally appeared on PennyStocks

10 Reddit Penny Stocks for Your July Watchlist

Reddit penny stocks remain some of the most popular choices for investors of all types. With so many penny stocks on Reddit discussed every day, making a decision can seem like a daunting task. But, that’s why we’re here! When making a penny stocks watchlist, the best first course of action is to understand what type of trader you are. This will help to narrow down your list substantially into companies that fit your risk profile, and companies that may be too risky for you.

The next step is arguably the most time-intensive, and that is the research stage. Because there are hundreds of companies on the list of penny stocks, picking only a handful and researching those, will and should take a good amount of time. This is the only thing standing between winning and losing in the stock market.

The best investors are the ones who put the most time into researching their watchlists. And for this reason, information will always be key. It’s worth noting that penny stocks frequently discussed on Reddit, tend to be some of the most speculative and volatile out there. But, if this is something you’re looking for, then these penny stocks could be worth watching.

Keep in mind that this is a continuation of ‘Best Reddit Penny Stocks to Buy Now? 7 for Your July Small-Caps List’. So if you haven’t read that yet, go and give it a look. With this considered, here are three more Reddit penny stocks that investors are watching right now.

3 More Reddit Penny Stocks to Watch Right Now

Toughbuilt Industries Inc. (NASDAQ: TBLT)
Cemtrex Inc. (NASDAQ: CETX)
American Battery Metals Corp. (OTC: ABML)
SGOCO Group Ltd. (NASDAQ: SGOC)

Toughbuilt Industries Inc. (NASDAQ: TBLT)

Toughbuilt Industries is a penny stock that we’ve covered numerous times in the past few months. This includes on June 15th in the article ‘Best Reopening Penny Stocks To Watch As CA And NY Lift Restrictions.’

Today on July 9th, shares of TBLT skyrocketed by around 41% at midday. And while many penny stocks climb without news, a big announcement came out in mid-afternoon trading. In the afternoon, Toughbuilt announced that’s sales on amazon.com had increased by around 118% to over $5.4 million in only the first half of 2021. This represents more than double what it sold during the same period in 2020.

“The significant momentum of our Amazon.com sales in the first half of 2021 reflects the increasing strength of our brand across all product lines with professional and DIY builders throughout North America. As our online presence expands into Canada and Mexico, and U.S. sales continue to increase, we are simultaneously expanding our geographical footprint and launching new SKUs to capitalize on the strong demand for our innovative designs and features.”

Michael Panosian, CEO of Toughbuilt

This is big news and is the clear answer to why TBLT stock pushed up so much in today’s trading. Whether it is enough to make TBLT worth adding to your list of penny stocks, however, is up to you.

Cemtrex Inc. (NASDAQ: CETX)

Another big gainer of the day is CETX stock, pushing up by around 13% by midday. YTD, shares of CETX stock have shot up by over 17.3%, which is quite substantial. While no company-specific news came out today, we can look at some older announcements to see why this may have occurred.

Around two weeks ago, Cemtrex announced its second-quarter 2021 financial results. In the results, the company posted a decrease of around 20% in its revenue to $9.3 million over the same quarter of the previous year. However, the company attributed this decrease to the pandemic and its effects on the tech industry. Gross profit during the quarter stayed largely the same as Q2 2020, at around 42% of revenue.

One of the most positive numbers from the report comes as the company announced its net income shot up to $2.5 million from a net loss of $1.6 million in Q2 2020. This is solid news and shows that the company is growing, and reducing its losses. While Covid has affected businesses of all types, it is important to consider how it will affect companies moving forward. But, with these mostly positive numbers, CETX stock could earn a place on your watchlist.

American Battery Metals Corp. (OTC: ABML)

While ABML stocks gain of around 5.7% at midday is not as large as the others mentioned on this list, it is respectable. And, YTD shares of ABML stock are up by over 75% which is quite good compared to the market as a whole.

For some context, American Battery Metals is a recycler and extractor of lithium-ion metals. It utilizes a clean technology platform to produce the materials used in the batteries that are in almost every electronic today. On July 8th, the company announced an update regarding its pilot plant in Fernley, Nevada. The update states that the company had been approved by the city of Fernley, for the mass grading permit regarding this new Lithium-Ion Battery Recycling Pilot Plant.

“Progress continues on our Lithium-Ion Battery Recycling Pilot Plant with the approval of our mass grading permit. The final step prior to site construction work is the submission and approval of the core/shell building permit next week.”

CEO of ABML, Doug Cole

This is big news for both the company and investors alike. And although this is just the beginning, it is an exciting update for traders to consider. So with this in mind, will ABML have a place on your penny stocks watchlist?

SGOCO Group Ltd. (NASDAQ: SGOC)

Arguably one of the largest gainers of the day is SGOC stock, pushing up by a staggering 595% or so at midday. This major gain means that at $17.15, SGOC is no longer a penny stock. While we don’t like to toot our own horn, we did discuss SGOC stock on July 8th in the article, ‘8 Top Tech Penny Stocks to Watch in July 2021’. In the past month, shares of SGOC have skyrocketed by a more than impressive 730%, including today’s gain.

So, why is SGOCO pushing up so much right now? While, it’s difficult to say for sure, but yesterday, we did witness a major trading halt which is common when stocks shoot up significantly in a trading day.

And, we could also assume that because it is highly discussed on Reddit and Twitter, there could be plenty of traders looking to capitalize on these short-term gains. It’s worth noting that when a stock shoots up as much as SGOC did today, it is clearly, very volatile. This means that just as quickly as it shot up, it could go in the other direction.

For some context, SGOCO Group Ltd. is a conglomerate with engagements in money lending throughout Hong Kong. This includes providing mortgage loans to borrowers, API services, and even blockchain and big data services. So, because of how broad it is, many believe that it could be well-positioned to take advantage of several burgeoning markets. But, whether it’s worth adding to your list of penny stocks to watch, remains up to you.

Are Reddit Penny Stocks Worth Buying?

Finding the best penny stocks on Reddit is all about understanding what makes them move. While it can be difficult to discover big gainers before they pop, using the available information will help to increase that chance.

Because there are hundreds of penny stocks discussed on Reddit every day, it is a daunting task to think that you’ll be on top of everyone. But, all it takes is a few winners to consider yourself a profitable trader. With all of this in mind, what do you think? Are Reddit penny stocks worth buying?

To read about the rest of the penny stocks on this list head to Best Reddit Penny Stocks to Buy Now? 7 for Your July Small-Caps List

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