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Best Penny Stocks on Reddit That You Need to Know About

3 Reddit Penny Stocks to Watch Right Now 

We discuss penny stocks mentioned on Reddit quite frequently. And, there are several good reasons for that. While the trend of finding penny stocks on Reddit is nothing new, it is still a phenomenon when we look at the past few years of trading. 

Beginning with the rise of GME stock, we then saw stocks like AMC stock, BB stock, and plenty of others skyrocket off of social media sentiment only. And while this can be a positive, it also can be a major negative for some investors. But, knowing how to spot the next Reddit penny stock and whether it is worth it, is something that will be invaluable to your trading strategy. 

[Read More] 4 Penny Stocks To Buy According To Analysts & Price Targets Up To 507%

The first question you might want to ask yourself is, what your threshold for risk is. If it is low, finding penny stocks on Reddit may not be a great idea. However, if you are ok with risk and volatility, Reddit penny stocks can be worth it. Keep in mind that it is extremely difficult to predict which penny stock may become the next highly trending small-cap. 

But, if we look at factors such as volume, and mentions online, we can have a better chance at spotting the value. So, while there are hundreds of penny stocks discussed on Reddit, it is always best to understand the fundamentals of a company over what people are saying online. Considering all of this, let’s take a look at three penny stocks that are being mentioned on Reddit right now. 

3 Penny Stocks on Reddit to Watch in 2021 
  1. Denison Mines Corp. (NYSE: DNN
  2. Datasea Inc. (NASDAQ: DTSS
  3. New Oriental Education & Technology Group Inc. (NYSE: EDU
Denison Mines Corp. (NYSE: DNN)

Uranium penny stocks have been on a tear recently, and Denison Mines Corp. is one company that has been taking advantage. If you’re unfamiliar, DNN is a uranium company that develops and produces uranium ore at various locations. Its key project is the Wheeler River Uranium project located in the Athabasca Basin region in Saskatchewan. Denison currently holds a 95% interest in this project, and it has been very successful for the company so far.

On August 5th, the company reported its results from the second quarter of 2021. Denison received $5.8 million in connection with the conversion of Uranium Participation Corporation into the Sprott Physical Uranium Trust. The company also completed the acquisition of 50% of JCU Exploration Company Limited for $20.5 million during this period.

“The Company continues to successfully advance on its ambition of developing the high-grade Phoenix deposit, as potentially one of the lowest cost uranium mines in the world, at a time when the uranium market is showing signs of a sustained recovery and the beginnings of a new contracting cycle.”

President and CEO of Denison Mines, David Cates

Since these results were released, DNN stock managed to climb substantially. Considering all of this information, is this high-volume penny stock going to make your watchlist in September?

Penny_Stocks_to_Watch_Denison_Mines_CorpDatasea Inc. (NASDAQ: DTSS)

Datasea Inc. is a tech penny stock that has seen some major bullish sentiment in the past few weeks. This company provides smart security solutions to companies and is based out of China. It currently is developing smart 3D security platforms, scenic area security systems, school security systems, and much more. These products are sold to schools, public communities, and more.

[Read More] Best Penny Stocks to Buy Ahead Of Apple’s Event? Here’s What To Know

On September 13th, the company announced a $4.33 million new contract to provide short message and 5G multimedia message services with Shuhai Zhangxun Information Technology Co. Ltd. Shuhai Zhangxun will give messaging services to help Hubei Huanyun Network Technology Co. Ltd. reach its clients.

“I’m very pleased to announce the new agreement with Hubei Kuanyun on 5G Multimedia Messaging Services. This cooperation demonstrates Datasea’s ability to provide bulk messaging services and a growing market recognition in our technology advantages, products, and effective service delivery.”

CEO of Datasea, Zhixin Liu

On the same day of this announcement, DTSS stock managed to climb on the good news. This is common with penny stocks as speculation will almost always have an impact on share price. So will DTSS stock be on your penny stocks watchlist?

Penny_Stocks_to_Watch_Datasea_IncNew Oriental Education & Technology Group Inc. (NYSE: EDU)

New Oriental Education & Technology Group Inc. is an education penny stock we have discussed frequently in the past few months due to its market momentum. If you’re unfamiliar, New Oriental is a company that offers K-12 private educational test preparation services. As of May 31st, 2020 the company’s services and programs were offered in 104 schools, 1,361 learning centers, and 12 bookstores.

Its latest update comes from mid-August when it provided an update on regulatory development. The company announced that the Beijing Municipality Government and the Beijing Municipal Committee of the Communist Party of China jointly issued the “Beijing Municipality’s Measures to Further Reduce the Burden of Homework and After-School Tutoring on Students in Compulsory Education in Beijing” These rules are being called the “Beijing Measures”.

Now the company can no longer provide its services during break periods or holidays. The company can also not provide its services that are outside of or in advance of the school curriculum. The price point of its Academic AST must follow government guidelines as well. This is the government’s attempt to prevent excessive charging or profit-seeking activity. Since these new guidelines were released, EDU stock has been rising in the market following a few weeks of bearish sentiment. With all of this in mind, will EDU stock be on your watchlist this week?

Penny_Stocks_to_Watch_New_Oriental_Education_Why Investors Like Reddit Penny Stocks 

The opportunity to find the next big winning penny stock on Reddit is something that entices all types of investors. But, with so many to choose from, it can be a difficult task to pick just a handful for your watchlist. 

[Read More] 3 Top Penny Stocks to Watch That Are Trending Right Now

The easiest way to narrow it down is to consider your risk tolerance, and use that to your advantage. In addition, spending as much time as you can researching the company will also be a major benefit to your investing. Considering all of this, it’s no wonder why investors like Reddit penny stocks so much. 

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