AMC & GME aren’t the only Reddit Penny stocks to buy, according to top Wall Street analysts.
If you’re looking for penny stocks to buy now. I’m sure you’ve seen a lot of attention on social media, that is Reddit, a phenomenon that started earlier this year as GameStop (NYSE:GME) stocks have triggered the overwhelming trading activity to other names. In short, whether you̵7;re talking about losing meat alternative stocks like Beyond Meat (NASDAQ: BYND) or bankrupt car rental company Hertz (OTC: HTZGQ), Redditors are anti-grain and focus on This week, AMC Theater (NYSE: AMC) took the lead in meme stocks. Unbelievable that earlier this year Shares are trading at about $2 per share. Reddit’s first big move brought the stock of the collapsing theater to a high of $20.36 before a sudden turn around in the weeks to come. As I’m sure many people have seen it. Meme stocks have not only recovered. But it also rose to new all-time highs this week. Has there been some major development that changed the face of the company? No, but Redditors are definitely behind AMC stocks. Hedge funds have been seen as a group that has “controlled” the market for too long. That’s the general thought process reflected by retailers using Reddit and Twitter for their soaps. As we approach the midpoint of 2021, a new chapter is being written. It’s no longer the only super-short hunt for stocks. The same group of retailers found that “Huge crowd thinking” can have a huge influence on the market. Enter Penny Stocks, Subreddits like r/PennyStocks. Thousands of more followers per day. By looking for the next round of penny stocks to buy Reddit Penny stocks to buy outright. If you are a novice trader or a beginner in the stock market in general. There are some things that you will need to keep in mind. The first and probably most obvious is that there are many risks involved. This is not just a common market risk. But given the excitement of Reddit’s factoring, you still have other things to consider. Needless to say Being on the right side of stock trading on Reddit isn’t a bad thing. Remember, there are many things you can use to find top penny stocks. One of these research tools is looking at what analysts are talking about. Opinions from top companies, price targets, and research reports seem to resonate well with retail investors. In this article, we’re going to discuss some of the most popular penny stocks on Reddit that have captured the attention of some of the top penny stocks. Wall Street, which covers small companies After seeing what they talked about It can bring some additional information to add to your diligence process. to decide if some hyper-up stocks are worth the risk Penny Stocks to Buy According to Wall Street Analysts: Ideanomics Inc. (NASDAQ:IDEX) Ideanomics has gained a lot of attention over the past few weeks on Reddit. Interested in the penny stocks of electric cars? If you look at the Ideanomics model, the company focuses on entering a variety of areas. It has everything from electric cars and motorcycles. to the charging system and EV agricultural products such as tractors. As of May 11, IDEX shares have risen more than 30%, if analysts at Roth Capital are believed to have a bigger spread on their targets. Roth currently has a buy rating on the penny stock. It was targeted at $7 at the beginning of the quarter, based on the latest $3 level, which would equate to a move of more than 130%. Whether penny stocks will actually reach that level remains to be seen. The current 52-week high is $5.53, also an all-time high. from strong earnings this month The retailer has put IDEX on a list of penny stocks to watch, according to CEO Alfred Poor, the company’s outlook could be brighter. In a conference call earlier this month, Poor explained that the WAVE charging product line was launching in China. There is growing interest from ports, airports and trucking businesses. Additionally, the first vehicles under Treeletrik’s order in Indonesia will be exported from Malaysia as the finished product, with deliveries expected to begin in Q3. With an assembly plant in Indonesia online in “Q4 or early 2022,” Poor explained that elsewhere, the Treeletrik team is closing these new headquarters and showrooms in Kuala Lumpur with a timeline in August moving to Redditors. It is releasing the latest update of Ideanomics acquisition agreement with US Hybrid, which manufactures and sells fuel cells. drive train and components for zero-emission vehicles In light of Biden’s management’s stance on carbon neutrality This could be an interesting development to watch when the deal goes live. Tellurian Inc. (NASDAQ: TELL) Tellurian shares also rose this month on bullish retail sentiment. Since May 3, TELL shares have risen more than 80 percent, hitting this week’s high of $4.13, just 26 cents from a 52-week high in January. keep an eye on With the growing interest in opening new trades and central stocks. Natural gas companies are gaining attention These were the hardest impacts in the early days. of the pandemic due to reduced travel and trade Tellurian shares were actively trading at more than $7 per share before the pandemic collapsed last year, so you have an idea. If analysts at Wolfe Research believe that Tellurian is set to return to those levels as well, the company recently raised its price target from $5 to $7, while maintaining its rating above Sam Margolin. Wolfe analysts stressed that the outlook for Tellurian’s Driftwood liquefied natural gas project is “improving” based on recent skyrocketing global LNG prices. “The appeal is durable in a commodity price environment.” Margolin’s comments could be further encouraged in light of the company’s latest agreement with Gunvor Singapore Pte Ltd. In May, Tellurian signed a 10-year agreement with Gunvor. To sell and buy liquefied natural gas, including 3 million tonnes per year during the term, Tarek Souki, executive vice president of LNG Marketing and Trade, reinforced the potential of the agreement. “Our business model creates enormous value for Tellurian; At current LNG prices, the deal represents roughly $12 billion in revenue over the 10-year period of the deal.” Organigram (NASDAQ: OGI) Some marijuana stocks have dropped in recent weeks. However, with a mix of corporate milestones and attention-grabbing Reddit, Organigram’s stock has gone against broader trends. If you look at industry ETFs like the ETFMG Alternative Harvest ETF (NYSE:MJ) or the AdvisorShares Pure US Cannabis ETF ( NYSE: MSOS) They paint a pretty quiet picture of the marijuana market. However, if you look at OGI this month, the outlook is different. Shares jumped from about $2.50 to this week’s high of more than $3. If analysts at Stifel Nicolaus and Raymond James believe Organigam could have a larger margin. at the beginning of this quarter Both companies have targeted $6 CAD, or about $4.97 USD. Raymond James analysts found that the company’s latest M&A strategy could add value to the offer. Analyst Rahul Sarugaser wrote, “We saw the acquisition of EIC today. As OGI moves to consolidate its already strong presence in the Canadian food market. Adds its expertise in producing high-quality soft chews to our industry-leading automated chocolate manufacturing capabilities.” Organigram acquired The Edibles & Infusions Corporation (EIC) in April for $22 million, plus additional OGI shares. another $13 million by milestone The focus of this acquisition is access to EIC’s food portfolio. It is expected to sell its first product in Q4 of this year. This M&A trend appears to be a focus for many cannabis companies right now. This week, Hexo Corp. (NYSE: HEXO) announced the purchase of Redecan for CAD 925 million. to create a large recreational cannabis company in Canada The landmark deal breaks out in C$400 million in cash, the remainder due in HEXO shares. You still can’t forget Tilray’s acquisition of Aphria (NASDAQ:TLRY). Final thoughts on penny stocks. Whether you are new to penny stock trading or a seasoned veteran. The choice to buy or sell ultimately rests on your shoulders. How you decide is up to you. Stores like Reddit, Twitter, or even financial media platforms are great places to get information and build your thesis. Analyst ratings and company headlines are also helpful in researching penny stocks to buy. Because cheap stocks have a high flying nature. There is always something for everyone. Just remember that penny stocks can fall just as quickly. with which you can climb So planning ahead before hitting the buy button is imperative. “GameStop” by JeepersMedia is licensed under CC BY 2.0. Learn more from Benzinga. CLICK HERE FOR TRADING OPTIONS FROM THE REUSABLE BenzingaMORE Act. In the House as the Senate prepares to pass cannabis reform legislation, European drug regulators support the use of vaccines. Pfizer-BioNTech COVID-19 in adolescents: Reuters © 2021 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.