With July only a week away, which penny stocks are investors watching? Well, to find this out we have to combine all the events going on right now and understand how they will impact the market. On a short-term basis, the massive cryptocurrency dive is affecting both penny stocks and blue chips heavily today. As Bitcoin touched below $30,000 for the first time in months, many crypto investors panicked, which resulted in the price rising past the symbolic $30k mark only a few hours later.
In the past few months, we’ve witnessed mostly sideways trading. This is characteristic of what many refer to as the ‘summer slump’. The summer slump is a period marked by lower than average volume and relatively low market momentum. While we could be on the way out of this, only time will tell.
Additionally, the effect of Reddit and other social media platforms on penny stocks is extremely high. This has resulted in the meme stock revolution as many refer to it. And lastly, we have to consider the effects of the pandemic coming to an end. This is extremely important and will remain a factor for several months to come. With all of this in mind, here are seven Reddit penny stocks for your July watchlist.
7 Penny Stocks to Watch in July 2021
- Globalstar Inc. (NYSE: GSAT)
- 1847 Goedeker Inc. (NYSE: GOED)
- Senseonics Holdings Inc. (NYSE: SENS)
- Histogen Inc. (NASDAQ: HSTO)
- Acasti Pharma Inc. (NASDAQ: ACST)
- Sunshine Biopharma Inc. (OTC: SBFM)
- Regulus Therapeutics Inc. (NASDAQ: RGLS)
Globalstar Inc. (NYSE: GSAT)
Up by a solid 19% at midday are shares of GSAT stock. While no big news dropped about Globalstar today, this follows another major move by the company made yesterday. On June 21st, the investment bank B. Riley (NASDAQ: RILY) added a buy rating and a price target of roughly $3.25 for GSAT stock. This represents almost double where it sits as of June 22nd. In the past month, shares of Globalstar have shot up by around 30% including today’s sizable gain.
For some context, GSAT is a communications company that operates low earth orbit satellites for use in satellite phones, communications, and more. In its latest first-quarter report, GSAT managed to raise its net income by almost 5%. This is a solid sign of growth and shows that GSAT is committed to innovation. With communications penny stocks in focus, will GSAT be on your watchlist?
1847 Goedeker Inc. (NYSE: GOED)
We’ve covered GOED stock several times in the past few weeks alone as it continues to be a trending Reddit penny stock. In the past five days, shares of Goedeker Inc. have shot up by over 27%, indicating solid bullish sentiment. In its latest quarterly report for Q1 2021, it posted revenue growth of more than 40% YoY. This is a substantial increase and reflects its big moves as of late. Last October, the company announced a merger with Appliance Connection. The goal would be to bring in roughly $60-80 million in EBITDA for the full 2021 year.
However, with a $205 million equity offering back in May, many investors are worried about the potential of share dilution and what this merger will look like. YTD shares of GOED are down by over 47% which is not great news. However, if this merger can materialize and produce positive results, there’s no telling what GOED stock could do. Whether this makes it worth watching or not is up to you.
Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings is a highly popularized meme stock with a slew of followers on Reddit. According to HypeEquity, the volume for social media on Senseonics last week was up by over 600%. Although this metric is relatively new, it is something to consider when looking for penny stocks to watch. Social media is an extremely important impacting factor and should be kept in mind.
Senseonics is a producer of glucose monitoring devices used in those suffering from diabetes. This is a very large market and the technology that these patients use is still relatively outdated. Because of this, SENS sees a rather addressable share that it could take. Many equate its role as a social media stock to that of AMC stock and BB stock in the past few weeks. And while this does make SENS stock more volatile than most, it could make it worth watching.
Histogen Inc. (NASDAQ: HSTO)
Up by a solid 17% late in the day on June 22nd is HSTO stock. In the past five days, shares of HSTO have jumped by more than 19%, and YTD that number almost doubles. Today’s gain for Histogen is due to its announcement of topline results from an early-stage trial of emricasan in mild symptomatic Covid-19. The study showed that this compound was relatively safe and well-tolerated by patients and by day 7, most patients saw a resolution of their symptoms.
“These positive results further reinforce the extensive clinical safety database of emricasan and strongly suggest that emricasan can potentially be developed as a therapeutic treatment for mild to moderate Covid-19, as well as other viral inflammatory diseases.”CEO of HSTO Richard Pascoe
This is a big step for the company and for addressing mild Covid cases. While the pandemic is slowing in severity, many scientists believe that it will transition to an endemic illness rather than a pandemic. Because of this, the need for new treatments and cures could be pertinent for years to come. With this in mind, is HSTO stock on your watchlist?
Acasti Pharma Inc. (NASDAQ: ACST)
Shares of ACST stock pushed up by a respectable 6.5% at midday on June 22nd. In the past six months, that number jumps to a staggering 108%. While many gains occur without news, today’s is due to a fiscal 2021 and year-end business update. Part of the announcement is dedicated to the company’s proposed acquisition of Grace Therapeutics, a privately-held biopharmaceutical company working on the treatment of orphan diseases. Only a month ago, it entered into a definitive agreement to acquire Grace and its pipeline of drugs.
“We are very excited about the planned acquisition of Grace, as we believe their product portfolio has the potential for delivering better patient solutions with enhanced efficacy, faster onset of action, reduced side effects, and more convenient delivery with the potential to increase patient compliance.”Jan D’Alvise, CEO of Acasti
After the merger occurs, the company plans to have at least $60 million in cash, which it states will float its operations for at least the next two years. So, considering this large update and the new acquisition, will ACST be on your list of penny stocks to watch?
Sunshine Biopharma Inc. (OTC: SBFM)
Biotech penny stocks have been performing well in the market lately and Sunshine Biopharma Inc. is one of them. This company focuses on developing anti-cancer drugs. Its Adva-27a product is a GEM-difluorinated C-glycoside derivative of podophyllotoxin to treat leukemia, lymphoma, brain, and many other types of cancers. It is also developing SBFM-PL4 which is an anti-COVID-19 treatment compound. This has brought a lot of new eyes to the company due to the rise of the pandemic.
On June 9th the company announced that its mice study for COVID-19 treatment is progressing as planned. Dr. Steve Slilaty, the CEO of Sunshine stated, “We are moving the project forward as fast as possible, albeit within the constraints of science. We are optimistic that our research efforts will culminate in a drug that will help turn the page on the pandemic.” 12 days after this announcement SBFM stock price has increased by more than 23%. Its trading volume is nearly double its average as well. So will SBFM make your penny stock watchlist right now?
Regulus Therapeutics Inc. (NASDAQ: RGLS)
Regulus Therapeutics Inc. is a biotech penny stock that discovers and develops drugs that target microRNAs in order to treat diseases. Its product candidate RG-012 is an anti-miR targeting miR-21 that is in a clinical trial to treat Alport syndrome, a life-threatening kidney disease. It has a variety of other trials as well in its lineup right now. This includes a pipeline of preclinical drug products.
Now on June 21st Regulus has announced that it will present additional data from its autosomal dominant polycystic kidney disease program at PKD Connect 2021. This will take place virtually on Friday, June 25th. This preclinical data and additional clinical data from the first cohort of patients in its Phase 1b trial of RGLS4326 could be great for the company.
Jay Hagan, the President, and CEO of the company said, “We are excited to present the latest data from our RGLS4326 program for the treatment of ADPKD. This year’s conference is an opportune occasion to share with the PKD community our additional data that further validate miR-17 as a target for ADPKD. We look forward to an engaging and productive event.” Considering this, will you add RGLS to your penny stock watchlist?