10 Tech Penny Stocks Reddit Buys

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In this article, we discuss the 10 tech penny stocks that Reddit buys. If you wish to ignore our detailed analysis of these stocks, go directly to the 5 Tech Penny Stocks Reddit Buys.

Tech stocks have reached valuations that many analysts are now calling sky-high and in desperate need of a correction. Of the top ten companies in the S&P 500 Index by market capitalization, seven are technology companies, such as Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN) and Facebook, Inc. (NASDAQ: FB). These represent more than 23% of the total index by weight. David Bahnsen, chief investment officer of The Bahnsen Group, a California-based investment firm, noted earlier this year, tech stocks were on the verge of re-valuation after sky-rocketing gains during the pandemic that pushed valuations too high.

Amid fears of inflation and falling cryptocurrency prices due to regulatory concerns, investors who have invested money in the tech sector or those hoping for a foray into the sector at the fastest growing market fear betting on overvalued companies. For these, investing in heavily traded tech penny stocks might be the answer. According to CNBC business news correspondent Bob Pisani, average trading volumes on NASDAQ have more than doubled, from $ 7 billion in 2019 to more than $ 14 billion earlier this year.

This statistic highlights the influence of retail investors in the market and the rise of the penny stocks they seem to favor, most of which are in the tech sector as it offers explosive growth potential relative to other industries. Some of the tech penny stocks currently popular on Reddit include eMagin Corporation (NYSE: REM), Ceragon Networks Ltd. (NASDAQ: CRNT) and Exela Technologies, Inc. (NASDAQ: XELA). These and others like them are discussed in detail below.

These retail investors and their trading habits have taken the financial world by storm in recent years. The entire hedge fund industry is feeling the impact of the changing financial landscape. Its reputation has been tarnished over the past decade, during which its hedged returns have failed to keep up with the unhedged returns of market indices. On the other hand, Insider Monkey’s research has identified in advance a select group of hedge funds that have outperformed S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and March 29 May 2021, the action selections from our monthly newsletter have returned. 206.8%, compared to 91.0% for the SPY. Our stock picks outperformed the market by over 115 percentage points (see details here). This is why we believe that hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can sign up for our free newsletter on our homepage to get our stories delivered to your inbox.

photo by Dimitris Chapsoulas on Unsplash

With that in mind, here’s our list of the 10 tech stocks Reddit is buying. These have been ranked based on the number of mentions on Reddit, analyst ratings, hedge fund sentiment and basic business fundamentals.

Tech Penny Stocks Reddit buys

10. Creative Realities, Inc. (NASDAQ: CREX)

Number of hedge fund holders: N / A Price as of August 5, 2021: $ 1.78

Creative Realities, Inc. (NASDAQ: CREX) is ranked tenth on our list of the 10 tech stocks Reddit buys. The company is headquartered in Kentucky and provides digital marketing technology solutions. The company has a market capitalization of $ 19 million and recorded more than $ 17 million in revenue last year. Some of the services it offers include digital merchandising, customer engagement, and interactive marketing technologies. It markets these services to a variety of retail and manufacturing companies.

In March of this year, Creative Realities, Inc. (NASDAQ: CREX) announced that it is committed to providing digital signage solutions to a convenience store chain in the United States and Canada that operates more of 14,000 stores in both countries.

In first quarter results, released on May 17, Creative Realities, Inc. (NASDAQ: CREX) reported net income of $ 1.3 million and revenue of $ 5 million, up from 35 % year over year. The company’s share price climbed 9% following the publication of the results.

As are Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), eMagin Corporation (NYSE: EMAN), Ceragon Networks Ltd. (NASDAQ: CRNT), and Exela Technologies, Inc. (NASDAQ: XELA), Creative Realities, Inc. (NASDAQ: CREX) is one of the tech stocks that Reddit buys.

9. Vinco Ventures, Inc. (NASDAQ: BBIG)

Number of hedge fund holders: N / A Price as of August 5, 2021: $ 2.94

Vinco Ventures, Inc. (NASDAQ: BBIG) is ranked ninth on our list of 10 tech stocks Reddit buys. The company operates out of Pennsylvania and markets research and development services for consumer products. It was founded in 2017. The company has a market capitalization of over $ 184 million and recorded over $ 15.7 million in revenue last year. It is present in Europe and Asia-Pacific in addition to the United States and Canada. The company markets various products to retailers and distributors through e-commerce channels.

In first quarter results, released on May 25, Vinco Ventures, Inc. (NASDAQ: BBIG) reported revenue of over $ 2.5 million, up nearly 32% from figure business from the same period last year.

Over the past few weeks, Vinco Ventures, Inc.’s (NASDAQ: BBIG) share price has skyrocketed amid interest in internet platforms like Reddit. On June 11, the stock jumped 11%, doubling in value over a period of several weeks on momentum.

Along with Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), eMagin Corporation (NYSE: EMAN), Ceragon Networks Ltd. (NASDAQ: CRNT), and Exela Technologies, Inc. (NASDAQ: XELA), Vinco Ventures, Inc. (NASDAQ: BBIG) is one of the tech stocks that Reddit buys.

8. AmpliTech Group, Inc. (NASDAQ: AMPG)

Number of hedge fund holders: 2 Price as of August 5, 2021: $ 3.95

AmpliTech Group, Inc. (NASDAQ: AMPG) is a New York-based company that manufactures and sells microwave component amplifiers. It’s ranked eighth on our list of the 10 tech stocks Reddit buys. On July 29, the company announced that it had won an order for $ 0.5 million for low noise amplifiers marketed by the company and used by a broadband service provider. The company will begin shipping the product to the broadband company this year. Amplifiers are used in satellite ground stations.

On July 28, investment counsel Maxim launched coverage of AmpliTech Group, Inc. (NASDAQ: AMPG) stock with a buy rating and a price target of $ 10, noting that the stock offered an opportunity. in several secular growth markets.

At the end of the first quarter of 2021, 2 hedge funds in the Insider Monkey database had holdings worth $ 1.5 million in AmpliTech Group, Inc. (NASDAQ: AMPG).

Besides Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), eMagin Corporation (NYSE: EMAN), Ceragon Networks Ltd. (NASDAQ: CRNT)) and Exela Technologies, Inc. (NASDAQ: XELA), AmpliTech Group, Inc. (NASDAQ: AMPG) is one of the tech stocks that Reddit buys.

7. Super League Gaming, Inc. (NASDAQ: SLGG)

Number of hedge fund holders: 2 Price as of August 5, 2021: $ 4.06

Super League Gaming, Inc. (NASDAQ: SLGG) is a California-based company that owns and operates a video games and esports platform. It’s ranked seventh on our list of 10 tech penny stocks Reddit buys. The company recently joined the Russell Microcap Index. It has a market cap of almost $ 150 million and recorded over $ 2 million in revenue last year. The company was founded in 2014 and employs around 47 people. The company is famous for Minehut, a social game portal frequented by Minecraft players.

On May 27, investment adviser HC Wainwright launched stock coverage of Super League Gaming, Inc. (NASDAQ: SLGG) with a buy note and price target of $ 6, noting that the company was a player. emerging in the fast growing esports industry.

On hedge funds tracked by Chicago-based investment firm Insider Monkey Citadelle investment group is a major shareholder of Super League Gaming, Inc. (NASDAQ: SLGG) with 63,238 shares valued over $ 445,000.

Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), eMagin Corporation (NYSE: EMAN), Ceragon Networks Ltd. (NASDAQ: CRNT) and Exela Technologies, Inc. (NASDAQ: XELA) are among the tech stocks that Reddit buys, as is Super League Gaming, Inc. (NASDAQ: SLGG).

6. Boxlight Corporation (NASDAQ: BOX)

Number of hedge fund holders: 3 Price as of August 5, 2021: $ 1.96

Boxlight Corporation (NASDAQ: BOXL) is ranked sixth on our list of the 10 tech stocks Reddit buys. The company operates out of Georgia and is engaged in the education technology sector. She sells interactive classroom solutions. In the wake of the pandemic crisis, the firm’s activity really took off. It exceeded market expectations for first quarter earnings and also joined the Russell Microcap Index. In April, the New York State Office of General Service announced it would extend a two-year equipment contract with Boxlight.

On July 1, investment advisory Alliance Global raised the Boxlight Corporation (NASDAQ: BOXL) share price target to $ 6 from $ 5.5 and maintained a buy rating, noting that the company was benefiting federal stimulus and better-than-expected demand.

On hedge funds tracked by Chicago-based investment firm Insider Monkey Citadelle investment group is a major shareholder of Boxlight Corporation (NASDAQ: BOXL) with 121,107 shares valued over $ 306,000.

Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. (NASDAQ: FB), eMagin Corporation (NYSE: EMAN), Ceragon Networks Ltd. (NASDAQ: CRNT) and Exela Technologies, Inc. (NASDAQ: XELA) are among the tech stocks that Reddit buys, alongside Boxlight Corporation (NASDAQ: BOXL).

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Disclosure. Nothing. 10 Tech Penny Stocks Reddit Buys was originally published on Insider Monkey.


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