Top Reddit Penny Stocks to Watch: Key Takeaways
- You must follow the opportunities! These stocks have BIG news — here’s what I’m watching for…
- Stock # 5 announced unusual news for a penny stock — and it could mean big gains.
- Stock #2 just announced a deal with one of the biggest companies on the market. Check it out…
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I checked in on the Reddit penny stocks site to see what‘s hot, and I’ve come up with 5 must-watch stocks. They have MASSIVE news that could create trading opportunities. Is there potential for “easy money” and a big run? See for yourself below!
- Petroteq Energy Inc. (OTCPK: PQEFF … Read my full analysis here.)
- Talon Metals Corp. (OTCPK: TLOFF … Read my full analysis here.)
- Mission Ready Solutions Inc. (OTCQX: MSNVF … Read my full analysis here.)
- OppFi Inc. (NYSE: OPFI … Read my full analysis here.)
- Vortex Brands Co. (OTCPK: VTXB … Read my full analysis here.)
5 Reddit Penny Stocks to Watch This Week
Remember, this watchlist isn’t a recommendation to buy or trade these stocks. Many of the traders in these chat rooms are HODLing.
They’re more like investors or swing traders than day traders. It seems many believe in these companies. I think that’s a huge mistake…
Prepared traders don’t get sucked into the chatter. Never blindly follow or listen to promoters or pumpers on social media and in chat rooms. They all claim these stocks are going to the moon. They’re not.
Most penny stocks fail.
And if you’re hoping to get rich quick or wondering “can you get rich off penny stocks?” … you have the wrong mindset.
That only creates bad trading habits like going all in, gunslinging, and overtrading…
Don’t focus on the money.
Be ready to take advantage of the hype and volatility, trade your patterns and trading plan, then move on.
New to penny stocks? Get my FREE guide to trading this niche here.
You may not realize it, but you are destined for greatness when you focus on what you TRULY love & become an expert in that field over time. Too many people want overnight wealth w/o expertise so whatever money they make is fleeting. Put in the time required for lasting success!
— Timothy Sykes (@timothysykes) January 11, 2022
Reddit Penny Stocks to Watch #1: Petroteq Energy Inc. (OTCPK: PQEFF)
Petroteq Energy is an oil and gas company.
Key points about PQEFF…
- On November 8, the company announced it received a takeover offer.
- After a full review, PQEFF’s board of directors recommended shareholders accept the offer on January 4.
- The stock’s trading near its 52-week highs of 44 cents.
- One Reddit user seems to think it’s “easy money.”
I’ll watch PQEFF for a breakout to new 52-week highs, ideally with high volume and a catalyst. But I’ll also watch for a dip buy into a big morning panic.
Reddit Penny Stocks to Watch #2: Talon Metals Corp. (OTCPK: TLOFF)
Talon Metals is a mineral exploration company that focuses on minerals like copper, nickel, and cobalt.
Key points about TLOFF…
- On January 11, the Reddit penny stock daily thread was buzzing about the company’s deal with Tesla, Inc. (NASDAQ: TSLA).
- Many Reddit traders admit they’ve held this stock for months. It’s no surprise the stock tanked after gapping up.
It traded high volume, so I’ll keep it on my radar. But I’ll only plan a trade if I see the right price action and one of my patterns.
Reddit Penny Stocks to Watch #3: Mission Ready Solutions Inc. (OTCQX: MSNVF)
Mission Ready Solutions provides personal protection gear to defense and security agencies.
Key points about MSNVF…
- A Reddit user posted this due diligence and catalyst thread on January 11.
- The stock’s a former runner but it traded much higher volume when it spiked in February 2021.
- MSNVF’s in a small uptrend and had a multi-month breakout over 31 cents on January 12.
It trades low volume, so I’ll watch MSNVF for a dip buy into any big panic.
Reddit Penny Stocks to Watch #4: OppFi Inc. (NYSE: OPFI)
OPFI operates a fintech platform that allows banks to offer lending products.
Key points about OPFI…
- OPFI isn’t technically a penny stock — it’s trading around $5.50 as of this writing…
- But Reddit penny stock traders seem excited about OPFI. Three recent posts cover the stock. One’s titled, “OPFI Has Potential To Run Big This Week.” You can read the other two here and here.
- On January 6, the company announced a share buyback program.
I’ll watch OPFI for a breakout over $6.
Reddit Penny Stocks to Watch #5: Vortex Brands Co. (OTCPK: VTXB)
Vortex Brands is an energy company.
Key points about VTXB…
- On January 7 the company announced a 25-for-1 forward stock split. A Reddit user posted this thread after the news.
- The stock had a huge move after the stock split announcement.
- VTXB announced its bitcoin mining revenue on January 10.
Forward stock splits are usually considered good news for larger-cap stocks. And VTXB is slowly uptrending back to its January 7 high. It’s a former runner so I’ll watch for another spike with news. But $0.0275 could be resistance.
See the Penny Stocks I’m Watching
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But I don’t want you to blindly follow stock picks and alerts from anyone — including me. Learn the reasons behind my trades and stock picks. Then learn to find your own.
The Final Word on Reddit Penny Stocks
Reddit chat rooms have the potential to push stocks higher. They can create giant short squeezes and supernovas. We’ve seen it happen in the past.
And although the past doesn’t repeat itself exactly, it often rhymes.
I’m in no way saying run out and buy these Reddit penny stocks. The chat rooms can be full of promoters and bots just as much as Twitter. But stocks with high volume and hype could present opportunities. So watch them for potential plays.
But always have a trading plan and stay disciplined. And never believe the hype. Become self-sufficient like my 20+ millionaire students…
Not sure which pattern or strategy is best for you? Watch the market, practice by paper trading on StocksToTrade, and study hard!
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Which of these Reddit penny stocks do you think has the most potential? Let me know in the comments … I love to hear from you!
The post Top Reddit Penny Stocks to Watch Now appeared first on Timothy Sykes.
Original source: https://www.timothysykes.com/blog/reddit-penny-stocks/