5 Reddit Penny Stocks To Watch This Week

Reddit Penny Stocks To Watch As November Draws To A End

As November is almost over, many penny stocks continue to gain ground. While it can be difficult to find the best penny stocks to buy, with the right trading strategy, it can be much easier than previously imagined. Moreover, one of the important steps that many traders fail to take is to fully understand their own trading strategy.

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Things like knowing what your tolerance for risk is and setting appropriate price targets become even more important when it comes to investing in penny stocks. Obviously, getting the basics right is the first step. The next is to find stocks to add to your watchlist. Using recent company documents, news, rumors, and yes, social media are all ways to find stocks on your initial watchlist. From there, take a look at specific company news and potential catalysts to narrow your search. In this article, we take a look at five penny stocks to watch this week that have garnered attention thanks to popular social media platforms like Reddit and Twitter.

5 Penny Stocks To Watch This Week

1. Vinco Ventures Inc. (NASDAQ: BBIG)
2. Sesen Bio Inc. (NASDAQ: SESN)
3. Farmmi Inc. (NASDAQ: FAMI)
4. Inspira Technologies (NASDAQ: IINN)
5. REE Automotive (NASDAQ: REE)

Vinco Ventures Inc. (NASDAQ: BBIG)

Vinco Ventures Inc. is a penny stock that has climbed over 140% in the last YTD period despite a less than stellar trading pattern in recent weeks. This is a penny stock that we mentioned earlier because of its constant market dynamics and constant trending nature. If you are not familiar, Vinco is a distributor of media and digital content. It owns several subsidiaries such as ZASH Global Media and Entertainment as well as an 80% stake in Lomotif Private Limited. Over the past year and a half, the demand for digital content has increased dramatically as more people are at home than ever before. And because of that, Vinco continued to receive increased attention.

On November 1, the company’s subsidiary, Cryptyde, announced the formation of a new joint venture. CW Machines LLC is the name of the company’s joint venture with Wattum Management. Wattum is a market leader in BTC mining equipment and services. The goal of the joint venture is to make Bitcoin mining equipment more accessible to consumers by incorporating smart contract technologies.

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On November 22, the company announced its financial results for the third quarter of 2021. In the results, Vinco Ventures CEO Lisa King said: “We are very satisfied with our operational developments during the quarter, which included the items key building blocks of our strategy to build a global media and content platform. On the financial results side, the company ended the quarter with a high cash balance of nearly $ 150 million despite an 11% drop in revenues. While the results have not been ideal, we must consider the effects of the pandemic. With that in mind, will BBIG stock be on your watchlist in mid-November?

Sesen Bio Inc. (NASDAQ: SESN)

Sesen Bio Inc. is a biotechnology penny stock that develops targeted fusion protein treatments. The majority of its products are designed to help people with cancer. Its product Vicinium is currently in phase 3 clinical studies for the treatment of bladder cancer. The company is also developing Vicinium in collaboration with the checkpoint inhibitor AstraZeneca to treat squamous cell carcinoma of the head and neck.

Sesen released its third quarter 2021 results on November 8. At the end of this quarter, it had $ 175.3 million in cash, cash equivalents and restricted cash, up from $ 55.4 million as at December 31, 2020. Year over year other, the company’s R&D costs fell from $ 10.2 million to $ 5.2 million. This was due to lower costs associated with technology transfer and production, which were somewhat offset by higher license payments.

“Our team is making progress in advancing our dialogue with the FDA as we work to potentially resolve the issues raised in the CRL for Vicineum, as demonstrated by our recent CMC Type A meeting with the agency. We remain committed to saving and improving the lives of patients, and we look forward to continuing to work collaboratively with the FDA at our next Type A clinical meeting, scheduled for later this year, to take our mission to the next level. of the regulatory process and beyond. ”

President and CEO of Sesen Bio, Thomas Cannell

Although SESN shares fell dramatically following a less than brilliant meeting with the FDA in August, they have since started to rise. Whether this makes SESN a candidate for your penny stocks to watch list is up to you.

Farmmi Inc. (NASDAQ: FAMI)

Farmmi Inc. is an agricultural company that offers a variety of edible mushrooms. This includes shiitake mushrooms and other culinary mushrooms. In addition, he sells mushrooms from bamboo, Agrocybe aegerila and a variety of other organisms. Its products are sold through its Farmmi Jicai online store as well as through traditional methods to restaurants, retailers and distributors.

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On November 15, the company released a new update. It stated that its subsidiary, Zhejiang Farmmi Biotechnology Co. Ltd. won a new product order. This new order is for the dried black fungus to be exported to Vancouver, Canada by the customer. The order is one of many recent export deals that Farmmi has won in 2021 so far. Going forward, it will be interesting to see if more deals take place before the end of the year.

“We continue to execute on our multi-pronged growth strategy, leveraging our brand, our premium agricultural product line and our relationships with the global supply chain. We have enjoyed steady growth in 2021 and expect year-over-year growth compared to 2020, with 2022 even better based on indications of customer demand. At the same time, we remain focused on creating value while helping Farmmi realize its true potential. ”

Farmmi CEO and President Ms. Yefang Zhang

Again, FAMI stock has not had the best performance over the past year. However, it is the subject of many Reddit forms and has therefore enjoyed great popularity several times over the last few trading sessions. While this makes the FAMI stock very volatile, it could also be worth watching. Given that, will it be on your penny stock watch list or not?

Inspira Technologies (NASDAQ: IINN)

Shares of Inspira Technologies saw an explosive movement at the close of the week last week. IINN stock rose from under $ 3 to over $ 4.50 in the last hour of trading as above-average volume pushed the shares higher. As we know, one of the biggest catalysts of the past week was the new variant of the virus, which quickly ravaged the markets on Friday. While many companies have felt the negative impact of this new variant, others have seen the exact opposite.

Inspira’s focus on assistive breathing technology may have helped fuel last week’s optimism. With the virus wreaking havoc on the respiratory system, overall traders have focused on related actions. Inspira’s Augmented Respiratory Technology (ART) platform is designed to recalibrate oxygen saturation levels in patients.

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Earlier this year, Inspira selected GlobalLogic to develop software for its respiratory support system that functions as an artificial lung. In the corresponding October press release, the company further told COVID-19 patients and how the ART device could help those diagnosed with the virus. Given the current state of the stock market, many companies including Inspira have gained attention as this new variant of the virus makes headlines. So it will be interesting to see how things unfold with the week ahead.

REE Automotive (NASDAQ: REE)

Then again, it may not be all about the virus in some ways. You cannot ignore the growing trend of green energy stocks. REE Automotive continued to attract attention at the end of November thanks to the increased notoriety of companies targeting zero-emission vehicles. REE has developed its “REEcorner” technology packs, offering electric vehicle manufacturers an option for modular and scalable mobility components to be implemented in their end products.

In fact, REE’s actions were highlighted towards the end of the month thanks to a correspondence on LinkedIn between REE CEO Daniel Barel and Carlton Rose, president, Global Feel Maintenance & Engineering at UPS. This was in response to Barel’s post on the new Leopard autonomous last mile delivery solution for e-commerce.

“REE is an amazing company that will have a huge impact in the industry. My team and I engaged with them in Israel in mid-2019 and they shared their vision, and we shared the vision of UPS. REE led by Daniel Barel understands what current and future technologies need to be for Last Mile delivery to be successful and cleaner. I look forward to what’s possible. – Carlton Rose

With this apparent relationship, there has been speculative momentum around the ETR stock. The question is whether or not virus skepticism will eclipse other market trends earlier in the week.

What Penny stocks are on your watch list right now?

If you are looking for the best penny stocks to buy in 2021, there are a lot of options to choose from. However, with there being so much to choose from, it can be overwhelming at times. But, with so much bullish momentum in the stock market right now, it is quite possible to make money with penny stocks. With that in mind, which penny stocks are on your watch list right now?