5 Reddit Penny Stocks To Watch This Week

Reddit Penny Stocks To Watch as November Comes to an End 

With November almost over, plenty of penny stocks continue gaining momentum. Although it can be difficult to stumble upon the best penny stocks to buy, with a proper trading strategy, it can be much easier than previously imagined. In addition, one of the important steps that many traders fail to take is having a thorough understanding of their own trading strategy. 

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Things like knowing what your risk tolerance and setting proper price targets become even more important when it comes to investing in penny stocks. Obviously, getting the basics down is step one. The next is researching some stocks to add to your watch list. Using recent corporate filings, news, rumors, and yes, social media are all ways to find your initial watch list stocks. From there, look at each company’s specific news and potential catalysts to narrow your search. In this article, we take a look at five penny stocks to watch this week that gained some 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 by over 140% in the last YTD period despite a less than stellar trading pattern in the past few weeks. This is a penny stock that we have previously mentioned due to its consistent market momentum and constant trending nature. If you’re not familiar, Vinco is a distributor of digital media and content. It holds several subsidiaries such as ZASH Global Media and Entertainment as well as an 80% interest in Lomotif Private Limited. In the past year and a half, the demand for digital content has risen substantially as a result of more people being at home than ever before. And because of this, Vinco has continued to see heightened attention. 

On November 1st, 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 joint venture’s goal is to make Bitcoin mining equipment more accessible to consumers by incorporating smart contract technologies.

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On November 22nd, the company announced its Q3 2021 financial results. In the results, the CEO of Vinco Ventures Lisa King, stated that “We are very pleased with our operational developments in the quarter, which included key building blocks of our strategy to create a global media and content platform.” As for the financial results, the company ended the quarter with a high cash balance of almost $150 million despite a decrease of 11% in its revenue. While the results were not ideal, we do have to consider the effects of the pandemic. Keeping this in mind, will BBIG stock make your watchlist in mid-November?

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Sesen Bio Inc. (NASDAQ: SESN)

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

Sesen released its third-quarter 2021 results on November 8th. As of the conclusion of this quarter, it had $175.3 million in cash, cash equivalents, and restricted cash, compared to $55.4 million on December 31st, 2020. Year on year, the company’s R&D costs fell from $10.2 million to $5.2 million. This was due to cheaper costs connected with technology transfer and production, which were somewhat offset by higher licensing payments.

“Our team is making progress in advancing our dialogue with the FDA as we work toward potential resolution of the issues raised in the CRL for Vicineum, as demonstrated by our recent CMC Type A Meeting with the agency. We remain dedicated to saving and improving the lives of patients, and we look forward to continuing to work collaboratively with the FDA in our upcoming Clinical Type A Meeting, expected later this year, to carry our mission into the next stage of the regulatory process and beyond.” 

President and CEO of Sesen Bio, Thomas Cannell

Although shares of SESN stock dropped substantially following a less than stellar meeting with the FDA back in August, they have since begun to rise. Whether this makes SESN a contender for your list of penny stocks to watch is up to you. 

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Farmmi Inc. (NASDAQ: FAMI)

Farmmi Inc. is an agriculture-based company that offers a variety of edible fungi. This includes shiitake mushrooms and other culinary mushrooms. In addition, it sells bamboo fungus, 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 15th, 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 dried black fungus to be exported to Vancouver, Canada by the customer. The order is one of many recent export deals that Farmmi has earned in 2021 so far. Moving forward, it will be interesting to see if any more of these deals take place before the end of the year.

“We continue to execute on our multi-pronged growth strategy, as we leverage our brand, premium agriculture product line, and global supply chain relationships. We have benefited from steady growth in 2021 and expect year-over-year growth compared to 2020, with 2022 even better based on customer demand indications. At the same time, we remain focused on unlocking value as we help Farmmi realize its true potential.” 

The CEO and Chairwoman of Farmmi, Ms. Yefang Zhang

Again, FAMI stock has not had the best performance in the past year. However, it is the subject of many Reddit forms and thus has seen high popularity several times in recent trading sessions. While this does make FAMI stock highly volatile, it could also make it worth keeping an eye on. Considering that, will it be on your penny stocks watchlist or not?

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Inspira Technologies (NASDAQ:IINN)

Shares of Inspira Technologies experienced an explosive move closing out the week last week. IINN stock jumped from under $3 to over $4.50 during the final hour of trade as above-average volume pulled shares higher. As we know, one of the biggest catalysts last week was the new virus variant, which tore through markets swiftly on Friday. While many company’s felt the negative impact of this new variant, others saw the exact opposite.

Inspira’s focus on respiratory support technology may have helped add to the bullishness last week. With the virus wreaking havoc on the respiratory system, overall, traders shifted focus to related stocks. Inspira’s Augmented Respiration 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 functioning as an artificial lung. In the corresponding October press release, the company further made mention to COVID-19 patients and how the ART device could help those diagnosed with the virus. Given the state of the stock market right now, many companies, including Inspira, have gained attention as this new virus variant consumes headlines. So it will be interesting to see how things unfold with the week ahead.

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REE Automotive (NASDAQ:REE)

Then again, it may not be all about the virus in some respects. You can’t ignore the growing trend in green energy stocks. REE Automotive has steadily gained attention in late-November thanks to increased awareness of companies targeting zero-emission vehicles. REE has developed its “REEcorner” technology packs, offering EV manufacturers an option for modular and scalable mobility components to implement in their end products.

In fact, REE stock came into focus toward the end of the month thanks to a LinkedIn correspondence between REE’s CEO, Daniel Barel, and Carlton Rose, President, Global Feel Maintenance & Engineering at UPS. This was in response to Barel’s post about the company’s new Leopard last-mile autonomous delivery solution for e-commerce.

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“REE is an amazing company that will have a tremendous impact in the industry. My team and I engaged with them in Israel mid 2019 and they shared their vision, and we shared the UPS vision. REE lead by Daniel Barel understands what the present and future technologies must be to make Last Mile delivery successful and cleaner. I’m looking forward to what’s possible.” – Carlton Rose

With this apparent relationship, there’s been speculative momentum building around REE stock. The question is whether or not virus skepticism will overshadow other trends in the stock market at the start of the week.

penny stocks to buy, investing in penny stocks, penny stocks, NASDAQ: BBIG, NASDAQ: SESN, NASDAQ: FAMI, NASDAQ:IINN, NASDAQ:REE, biotech penny stock, list of penny stocks to watch, penny stocks watchlist, making money with penny stocks

Which Penny Stocks Are on Your Watchlist Right Now?

If you’re looking for the best penny stocks to buy in 2021, there are plenty of options to choose from. However, because there are so many choices, it can be overwhelming at times. But, with so much bullish momentum in the stock market right now, making money with penny stocks is entirely possible. Considering that, which penny stocks are on your watchlist right now?

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