Crypto, acquisitions, uplisting news, and more drive this week's Reddit penny stock spikers\u2026 All these stocks have seen increased volume and made nice moves \u2014 even making new 52-week highs. The giant spikes can be exciting for new traders. Especially if your positions are up. But greed has cost many traders nice profits... Maybe they don\u2019t know about rule #1 \u2014 cut losses quickly. Or they don\u2019t know how to sell into strength. If you\u2019re struggling with discipline, brush up on these essential trading rules. See how I approach these stocks with my trade on stock #4 on this list. It\u2019s a great example of how small gains can add up over time.* Take advantage of the hype and volume that Reddit penny stocks can offer, just never believe the hype. And never hold and hope. Which other stocks are trending on Reddit? Over on the WallStreetBets Reddit page, bullish sentiment is growing in crypto-related stocks like Riot Blockchain, Inc. (NASDAQ: RIOT) and Marathon Digital Holdings, Inc. (NASDAQ: MARA). That\u2019s thanks to bitcoin\u2019s big bounce over the weekend. And bearish sentiment is increasing in stocks like Moderna, Inc. (NASDAQ: MRNA), Snap Inc. (NYSE: SNAP), and NIO Inc. (NYSE: NIO). If you love trading meme stocks, don\u2019t miss my long-time friend Paul Scolardi's no-cost webinar this week on July 28 at 8 p.m. Eastern. He\u2019ll teach you how to identify meme stocks even before the Reddit crowd does. Plus, he\u2019ll share what he thinks his next million-dollar trade will be... Don\u2019t miss this no-cost event \u2014 sign up here for access.\u00a0 Now let\u2019s get to my list of the top Reddit penny stocks to watch this week. Read to the end for three more stocks worth watching as they get increased mentions on Reddit. https:\/\/twitter.com\/timothysykes\/status\/1419374518838218753 6 Reddit Penny Stocks to Watch This Week I\u2019ve cut through the noise and chatter on Reddit to come up with these top six Reddit penny stocks to watch now. But remember, this watchlist isn\u2019t a recommendation to buy or trade these stocks. And if you\u2019re hoping to get rich quick or wondering \u201ccan you get rich off penny stocks?\u201d \u2026 you have the wrong mindset. Don\u2019t focus on the money. That only creates bad trading habits like going all in, gunslinging, and overtrading... Those are all the habits Reddit traders seem to promote and encourage. Ignore that BS. Never blindly follow or listen to promoters or pumpers on social media and in chat rooms. They all claim these stocks are going to the moon. They\u2019re not. Most penny stocks fail. Always expect the worst from every company so you won't be disappointed. Be ready to take advantage of the hype and volatility, trade your patterns and trading plan, then move on. If you\u2019re new to penny stocks, get my FREE guide to trading this niche here.\u00a0 Let\u2019s do this... Reddit Penny Stocks to Watch #1: Fernhill Corporation (OTCPK: FERN) FERN is a holding company that acquires businesses in multiple sectors including blockchain and digital assets, AI, and alternative energy. On July 12 the company announced it signed a letter of intent to acquire a crypto mining operation system. And back on June 2, the company announced its plans to uplist to the Nasdaq. The stock\u2019s in a strong uptrend. On July 26, it made new 52-week highs before fading and having its first red day. That could be a sign of a reversal. I\u2019ll watch for a panic dip buy opportunity. Reddit Penny Stocks to Watch #2: RushNet, Inc. (OTCPK: RSHN) RSHN\u2019s a typical sketchy sub-penny stock \u2014 not my favorite to trade. It\u2019s a beverage company that offers flavored sodas under the Rush brand. But it recently got involved in the healthcare sector\u2026 On July 8, the company announced it acquired heliosDX, a \u201cNational Clinical Reference Laboratory offering High-Complexity Urine Drug Testing (UDT), Behavioral Drug Testing, Allergy Droplet Cards, Oral Fluids, Infectious Disease (PCR), and NGS Genetic Testing.\u201d HeliosDX will spin off and become its own publicly traded company in the near future. As part of the spin-off, RSHN shareholders will get one share of HeliosDX for every 1,000 of RSHN shares. Shareholders also have the option to purchase 11 HeliosDX shares for every 1,000 of RSHN shares at a discount. There\u2019s also a dividend for RSHN shareholders, but the company hasn\u2019t announced details yet. Read the full press release here. The stock had a major run when rumors of the acquisition started. Now it\u2019s bouncing just like I outline in my 7-step pennystocking framework. I\u2019ll watch for a dip-buy opportunity into any big panics. Reddit Penny Stocks to Watch #3: Atossa Therapeutics, Inc. (NASDAQ: ATOS) Yep, ATOS returns to the list from last week. It\u2019s still a Reddit penny stock favorite. And Reddit traders think it will return to double digits ... at some point. But I don\u2019t hold and hope. I think you can grow your account safely and potentially faster if you trade repeating patterns and sell into strength. ATOS is down from $10 and consolidating around $4. There\u2019s a ton of bag holders in this stock who are hoping it\u2019ll go higher. I think it needs a huge catalyst and high volume for a big move. Without them, I\u2019ll watch it for a panic dip-buy opportunity. Reddit Penny Stocks to Watch #4: Life Clips, Inc. (OTCPK: LCLP) LCLP\u2019s another stock moving on crypto acquisition news from July 14. It also returns from last week\u2019s watchlist. On July 26 the stock had a big bounce from 2 cents to 4 cents after the company announced it canceled its reverse stock split in this tweet. StocksToTrade\u2019s Breaking News Chat alerted the news just after the market open.** I didn\u2019t catch the initial spike after the news broke. I dip-bought it later and got 790,000 shares at a $0.0335 average. I sold at $0.0345 for a profit of $790.* I hope Reddit traders sold into the strength. I wouldn\u2019t chase it now. I\u2019ll watch it for potential morning panic dip-buys only. Reddit Penny Stocks to Watch #5: Cyberlux Corporation (OTCPK: CYBL) CYBL\u2019s a tech company that develops lighting systems. Reddit traders are excited about this stock because of its military and government contracts. But the contracts aren\u2019t new. The company\u2019s currently listed on OTCmarkets.com as dark or defunct. But the stock\u2019s moving on the company\u2019s tweet that it\u2019s working to regain \u2018pink current\u2019 status. Traders expect a press release this week. But it could play out as a \u2018buy the rumor, sell the news\u2019 pattern. The stock\u2019s already up from $0.002 to $0.016 since July 17. I\u2019ll watch this one for a potential morning panic dip-buy. Reddit Penny Stocks to Watch #6: DarkPulse, Inc. (OTCPK: DPLS) DPLS is a tech security company. It started its run in June after the company announced it acquired three drone companies. You can read the press releases here and here. On July 16 the company announced the CEO discussed the acquisitions as a guest on The Stock Day podcast. Reddit traders don\u2019t seem to have a specific trading plan for DPLS. One trader said it's \u201cthe future.\u201d Another one says they\u2019ve \u201cgot a really good feeling about DPLS.\u201d Many Reddit traders like it as a long-term hold. I wouldn\u2019t listen to any of that BS. The stock broke down below 10 cents on July 26. I\u2019ll watch it for more panic to the downside and a dip-buy opportunity. More Reddit Stocks to Watch What else is trending on Reddit? Here are some stocks seeing increased chatter in the chat rooms. But remember, a lot of the traders in these chat rooms are HODLing. They\u2019re more like investors or swing traders than day traders. It seems many believe in these companies. I think that\u2019s a huge mistake... Prepared traders don\u2019t get sucked into the chatter. Use the volume and hype to trade repeating patterns then move on to the next. Here are the top mentions in Reddit chat rooms: \tSupport.com, Inc. (NASDAQ: SPRT): Even though SPRT isn\u2019t a penny stock anymore, it\u2019s still getting plenty of mentions on the Reddit penny stocks page. Reddit traders were expecting a short squeeze. On July 26 it had a huge gap up before fading. We\u2019ll see if it can continue higher. \tVerb Technology Company, Inc. (NASDAQ: VERB): VERB was on last week\u2019s watchlist. It still gets plenty of mentions, but it\u2019s consolidating and likely needs a catalyst to bring in more volume and squeeze shorts. \tNokia Corporation (NYSE: NOK): Over on the Robinhood Reddit penny stocks page, traders eagerly anticipate Nokia\u2019s earnings report. The company\u2019s due to release its second-quarter financials on July 29. See the Penny Stocks I'm Watching Want to know which stocks I\u2019m watching each week? Subscribe to my no-cost weekly watchlist. I\u2019ll send my list of the top stocks to watch to your inbox every Sunday. If you want even more stocks to watch, keep up with my blog. I update these watchlists every week: \tTop Biotech Penny Stocks to Watch \tTop Penny Stocks List and Weekly Update \tThe Best Crypto Penny Stocks to Watch Now I also send my daily watchlist and game plan to Profit.ly subscribers every morning. There are three ways to get it. Get a Profit.ly subscription for access. But I don\u2019t want you to blindly follow stock picks and alerts from anyone \u2014 including me. Learn the reasons behind my trades and stock picks. Then learn to find your own. Become self-sufficient just like my top students... And all of my 10+ millionaire students have come from my Trading Challenge.* If you\u2019re accepted you\u2019ll get access to all my top trading education resources \u2014 video lessons, webinars, all my DVDs, plus access to the top Challenge traders in my chat room. If you\u2019re truly dedicated to learning the process and mindset it takes to make it in the markets long term \u2014 apply to the Trading Challenge today. The Final Word on Reddit Penny Stocks Reddit chat rooms have the potential to push stocks higher. They can create giant short squeezes and supernovas. We\u2019ve seen it happen in the past. And although the past doesn\u2019t repeat itself exactly, it often rhymes. I\u2019m 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. Not sure which pattern or strategy is best for you? Watch the market, practice by paper trading on StocksToTrade**, and study all my trading education resources. And when you\u2019re ready, apply for my Trading Challenge. Which of these Reddit penny stocks do you think has the most potential? Let me know in the comments \u2026 I love to hear from you! Disclaimers *This level of successful trading is not typical and does not reflect the experience of the majority of individuals using the services and products offered on this website.\u00a0 From January 1, 2020, to December 31, 2020, typical users of the products and services offered by this website reported earning, on average, an estimated $49.91 in profit. This figure is taken from tracking user accounts on Profit.ly, a trading community platform.\u00a0 Timothy Sykes has a minority shareholder interest in the platform. **Tim Sykes has a minority ownership stake in StocksToTrade.com.