According to Reddit, these are the top penny stocks to trade. Penny stocks are stocks which trade under $5 per share. Penny stocks are also known for their high volatility. This is why they’re great for building small accounts, and why Reddit traders are interested in trading them.
The most famous Reddit-related former penny stock is GameStop Corp. (NYSE: GME).
It isn’t a penny stock anymore, but check out its chart in 2020 …
Even when you factor in its 4-for-1 split, GME was under $5 as recently as August 2020. That’s part of what drew Reddit attention to this stock.
The other factor was the INSANE short interest in this stock. Wall Street types usually assume that penny stocks are garbage. The epic GameStop short squeeze was one time they got it wrong.
This was a formative experience for Reddit traders. It showed them that they could organize and drive the price of ANY stock up. If they focused on penny stocks, more of the small-time traders on Reddit forums would be able to participate.
Now they’re out for blood. These are the penny stocks they’re eyeing right now …
5 Reddit Penny Stocks to Watch the Week of November 14
My top 5 Reddit penny stocks to watch for November are:
- Meta Materials Inc. (OTCPK: MMTLP)
- LATAM Airlines Group S.A. (OTCPK: LTMAY)
- Cann American Corp. (OTCPK: CNNA)
- Neurobo Pharmaceuticals Inc. (NASDAQ: NRBO)
- Creatd, Inc. (OTCQB: CRTD)
The market has been trending up in the past month …
But Reddit penny stock favorites like Bed Bath & Beyond Inc. (NASDAQ: BBBY) and Blue Apron Holdings Inc. (NYSE: APRN) have been getting CRUSHED.
Is it because Reddit traders don’t have the sway they once had? Or maybe they’re just getting smarter …
I teach my Challenge students the right way to play the penny stock game. It isn’t by falling in love with these tickers …
You have to learn the right patterns to trade them with. Patterns like the ones I’ve been teaching for a decade now …
Glorious morning for me +$10k on dip buys on $OZSC $SNPW $BMIX but I missed $AMLM $BBRW $AITX and I'm far prouder of https://t.co/occ8wKmlgm students turned masters @Jackaroo_Trades who's made $40k+ & @mono_trader who is +$26k today so far, what a market, study up & CAPITALIZE!
I’m just watching the stocks on this list. There’s no guarantee I’ll trade them.
I’m saving my ammo for the right moment. Keep your eyes open, these are your targets.
Best Reddit Penny Stocks for November 2022
These are the top 5 Reddit penny stocks to watch in November 2022 …
All of them have potential. When the right opportunity strikes, you want to be watching.
#1: Meta Materials Inc. Preferred Shares (OTCPK: MMTLP)
My first Reddit penny stock pick is Meta Materials Inc. (OTCPK: MMTLP).
And I love it.
These preferred shares of MMTLP came out of nowhere in October, posting 350% gains through the month. Now they’re once again knocking on $7.50–7.60 multi-day resistance levels.
Key points about MMTLP…
- MMTLP shares will be converted into shares in MMAT’s Next Bridge Hydrocarbons oil and gas spinoff once that plays out. What’s funny is these pumpers actually have the brainless confidence to say that MMTLP’s current shareholders “have vowed” to buy MMAT stock when that happens!
- MMAT’s chart has been following MMTLP for the most part. But sub-par Q3 earnings only affected MMAT, not MMTLP.
#2: LATAM Airlines Group S.A. (OTCPK: LTMAY)
My second Reddit penny stock pick is LTMAY.
This South American airline stock has been trending up for the past month — by about 650%!
A November 15 shareholder meeting should confirm a 99% share dilution.
That isn’t all. The OTC price of around $0.70 is out of step with LATAM’s stock price on its home exchange — by about 10,000%! With the deluge of new shares, this puts LATAM’s implied market cap higher than $300 billion …
That’s more than the entire U.S. airline industry combined.
Key points about LTMAY…
- LATAM is the biggest airline in South America.
- At the time of writing, LATAM shares on the Santiago Stock Exchange are worth about $0.0065. This yields a more reasonable valuation for the company of around $5 billion.
#3: Cann American Corp. (OTCPK: CNNA)
My third Reddit penny stock pick is Cann American Corp. (OTCPK: CNNA).
How'd you end up today? I'm verrry happy to take my +$1k days on $SOBR $CNNA as while the $DIA $SPY $QQQ look to have bottomed (for now), I'm still in a safety first mindset & trading small/cowardly suits me just fine! And I'm trading from Bali this week, are new schools opening!
It’s been a long time since CNNA was just another pot penny stock.
Key points about CNNA…
- CNNA is talking about synergies in their video game and cannabis delivery business lines. I just see a bit of pumping going on.
- The promised reverse merger has only led to more self-promoting tweets.
So far, CNNA has been unable to build on its spikes. I’ll keep watching them for follow-up spikes, but they’ll probably need more volume and better news first.
#4: Neurobo Pharmaceuticals Inc. (NASDAQ: NRBO)
My fourth Reddit penny stock pick is Neurobo Pharmaceuticals Inc. (NASDAQ: NRBO).
Post-dilution, NRBO is back in the $1s.
Key points about NRBO…
- NRBO followed up the reverse split with partnership news on September 15, which led to a smaller spike.
- There’s been no real news since. What’s led to the more recent spikes? NRBO has become a low-float chat pump favorite.
#5: Creatd, Inc. (OTCQB: CRTD)
My fifth Reddit penny stock pick is Creatd, Inc. (OTCQB: CRTD).
In the past month, CRTD has gained about 3,400%!
Key points about CRTD…
- If three exchanges this year weren’t enough, CRTD is filing for a dual listing on the blockchain-powered exchange Upstream. This is interesting — Upstream doesn’t allow shorting.
- CRTD is in every buzzy media-related sector you can imagine, from podcasts to NFTs to stocks to Web3.
Despite its strong October, CRTD has shown some weakness. I’m keeping an eye out for a potential dip buy.
See the Penny Stocks I’m Watching
Want to know which stocks I’m watching each week?
But I don’t want you to blindly follow stock picks and alerts from anyone — including me. Learn the reasons behind my trades and stock picks. Then learn to find your own.
The Final Word on Reddit Penny Stocks
And although the past doesn’t repeat itself exactly, it often rhymes.
I’m in no way saying run out and buy these Reddit penny stocks. The chat rooms can be full of promoters and bots just as much as Twitter. But stocks with high volume and hype could present opportunities. So watch them for potential plays.
But always have a trading plan and stay disciplined. And never believe the hype. Become self-sufficient like my 20+ millionaire students…
Which of these Reddit penny stocks do you think has the most potential? Let me know in the comments … I love to hear from you!