With the summers arriving, are you struggling to choose the best Reddit stocks? Do you want to buy the best Reddit penny stocks? Has the selection process become difficult for you? If yes, worry no more. Here we will provide a proper guideline regarding choosing the best Reddit penny stocks to buy and will make the selection process much easier for you. So stay tuned and continue reading this guide to explore some of the best Reddit stocks you can buy.
With the arrival of summers, the penny stocks are on the move, and most of us are considering the best stocks to buy. During the summers, it isn’t unusual to see the market slowing down in volume. Traders have easy and enhanced access to platforms such as Robin Hood and Zacks Rank. In addition, social media also plays a crucial role in influencing many penny stocks, particularly on the platforms like Reddit. Investors usually wish and hope that the volume stays incredibly high.
The traders must conduct thorough research while choosing the best one because thousands of penny stocks are available. Choosing the best penny stock is necessary because it is the only one that offers true value to the investors. Otherwise, as an investor, you might end up choosing a penny stock that might look great in the short term but might not have a considerable impact in the long run.
Choosing the Best Reddit Stocks
Here are four potential Reddit penny stocks available, among which you can choose the one that most suits your requirements.
1. Sundial Growers Inc.
Sundial Growers Inc. is involved in producing and manufacturing cannabis products for the adult-use market through Canada. This company is based in Calgary, Canada, and is known for distributing and producing ranging from inhalable products from pre-rolls to vapes.
During May, the shares of this company rose by 12%. For most investors, the month of May seemed like a roller-coaster. During the first three weeks of May, the company reported mixed first-quarter results and announced a new acquisition.
2. SPDR Gold Trust
This is another viable option, and the investment in this company reflects the price of the gold bullion. The trust is built in the form of gold bars and issues baskets in exchange for gold. The main idea of the fund is to seek out the performance of the price of the gold bullion and kind of represent a cost-effective investment in gold for investors.
The good thing is that the gold bullion has impressed the investors during May, with an immense increase of 7.7% in the prices. The company is moving to its best since the gain in July 2020.
3. NAKED Brand Group Ltd.
This brand is a designer and retailer of men’s and women’s underwear and swimwear throughout the U.S. Apart from its retail outlets, the brand also sells its products online. This company is based in Double Bay, Australia.
NAKED Brand Group Ltd. has recently offloaded many of its brick-and-mortar operations. The stakeholders approved the sale of its Bedon subsidiary to accomplish its plans and become a complete e-commerce business.
The company is now looking for mergers and acquisitions for its online business to complement its ongoing operations. This brand has a solid balance sheet with no debt and an asset-saving operating model.
NAKED Brand Group Ltd. has become significantly popular on social media sites just like Reddit during the recent months. The management of this brand has implemented the trading frenzy and surge of the stock prices to conduct different share offerings.
The best thing about this brand is that its capital rose from the surging prices to pay off its debt and raised about $270 million in cash reserve. All these factors make this brand a strong financial position moving forward.
4. Citius Pharmaceuticals Inc.
This is a pharmaceutical brand oriented towards developing and commercializing therapeutic products to growing markets. This brand is based in Cranford, New Jersey. Citius announced its ground-breaking programs in its pipeline, and they also announced a new partnership with Novellus Pharmaceuticals to create Mesenchymal stem cells. The idea behind this unity is to treat acute respiratory distress.
The best thing about this company is that it is aware of the problems found in cancer patients, which can often become infected with surgeries and treatments. When such patients become infected, the condition can be life-threatening.