April 15, 2021
7 minutes of reading
This story originally appeared on PennyStocks
Reddit Penny stocks Continue to see momentum
Penny stocks on Reddit continue to be a trending topic in the market. For the unfamiliar, let’s dive into the meaning of this. Reddit is a popular social sharing site that houses everything from news to memes and all kinds of content.
On Reddit, users can publish any information they want in what’s called a ‘subreddit’. These are essentially discussion boards for every conceivable topic. Over the past few months, you may have heard about stock market and coinRelated sub credits like r / WallStreetBets, r / PennyStocks and r / Investments.
These are communities of both novice and expert traders working to share ideas about different aspects of the market. A few months ago, users on the Wall Street Bets subreddit, came together to tout Gamestop Inc. (NYSE: GME). Quickly, stocks rose from under $ 20 to over $ 483. This is the first instance of retail merchants joining forces to engage in collective action. Although this was mostly iconic at the time, it has since turned into a long-term trend.
In April 2021 we continue to see Reddit penny stocks resulting in higher than average volume. This trend is also likely to continue as retailers have discovered a large impact that could lead to usage. social media to find stocks that are trending.
Though there isn’t usually any consistent category for these choose stocksThey are the results of community discussion boards and their members. Considering this, let’s take a look at 4 penny stocks on Reddit to follow before the end of the month.
4 Penny shares on Reddit to see
- Borr Drilling Ltd. (NYSE: DRILL)
- Seanergy Maritime Holdings Corp. (NASDAQ: SHIP)
- Allied Esports Entertainment Inc. (NASDAQ: AESE)
- Quotient Ltd. (NASDAQ: QTNT)
1. Borr Drilling Ltd.
Borr Drilling is an offshore oil and gas drilling contractor for the oil and gas industry. It works through owning, contracting and operating jack-up rigs for shallow water drilling. In addition, it provides equipment and services to crew members conducting offshore oil and gas operations.
Because of this, BORR provides some exposure Energy industry, otherwise contact would have occurred with a purer oil and gas producer. In its latest financial report, the company posted preliminary data for the full fourth quarter and 2020. During this period, the company recorded operating revenue of $ 60.2 million, with a net loss of $ 46.7 million. This totals a revised EBITDA of $ 6.6 million for the fourth quarter.
Additionally, it has managed to raise around $ 32 million through two offerings completed on October 5 and November 30 respectively. More recently, Borr signed an agreement to withdraw. capital of its three coreless rigs with total proceeds of more than 17.5 million USD.
Entering 2021, Borr Drilling completed an agreement to improve its liquidity with a number of creditors, earning an additional $ 46 million out of the total proceeds. Finally, since the beginning of Q4 2020, it has received eight new contracts or contract renewal, which is encouraging for investors to consider. So if you’re looking to get into the energy sector, BORR looks like it could have a lot to offer.
2. Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings is the owner of the Capesize vessel, providing bulk transport services through its state-of-the-art fleet. It claims to be the only pure-play Capesize vessel owner listed on a publicly traded US exchange. It has an average fleet age of about 12 years, with an average carrying capacity of 2.64 million dwt.
During the pandemic, the demand for retail products increased greatly. This means that shipping companies are busy moving products from one region to another. On Wednesday, April 14, big news broke out when Seanergy announced a $ 37.45 million loan. The proceeds will be used to refinance the existing $ 24.45 million facility secured by three of its owned vessels.
“We are excited to announce a successful conclusion of funding by one of our long-term lenders to upgrade and expand one of our existing facilities. Our new facility combined with our enhanced discussions with other existing lenders Seanergy demonstrates a strong credibility to our Company. ”
Stamatis Tsantanis, CEO of Seanergy
He went on to state that the current market allows 5-TC shipping routes worth more than $ 26,000 per day. This means that the rest of 2021 could provide financial benefits for the company and its investors. Considering the high demand for its shipping service, is SHIP stock worth a look?
3. Allied Esports Entertainment Inc.
AESE is a penny stock that we have been discussing for quite a while. It enters the esports industry, which has become extremely prominent in the past year or so. It works through everything from direct experiences to interactive services and more. The company has two strategic brands that it uses as a backbone business.
This includes allied esports and the World Poker Tournament (WPT). While there is a $ 105 million deal from Element Partners to buy WPT, it won’t be scheduled until the end of April. As an online gaming company, AESE has become extremely popular among with traders of penny stocks on Reddit.
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At the end of March, Allied Esports released its preliminary financial results for the fourth quarter and the entire 2020. To better understand the company, let’s take a closer look. Although results are preliminary, it should be noted that full results will be published any day. It recently filed an extension or Form 12b-25 to extend the deadline until April 15.
Pending the release of this data, we can use the preliminary results to see where AESE is. In Q4, AESE brought in $ 0.9 million in revenue, down 52% from the previous year. Additionally, it has a loss of nearly $ 20 million, up from $ 5.8 in Q4 2019.
These results may not seem promising, but it is worth noting that AESE generates the majority of revenue from live events. Because of the pandemic, it had to fundamentally change its business and in a short period of time.
CEO Frank Ng, stated that “despite the unprecedented operational challenges and macroeconomic instability encountered throughout much of 2020 due to the Covid-19 pandemic, Allied Esports is over. with a steady performance in the fourth quarter. ”
While the CEO is a bit optimistic about the fourth quarter results, we have to consider the $ 105 million the company will receive from the WPT sale. Once this deal is successful, AESE may be worth a look.
4. Quotient Ltd.
If you’re not familiar with QTNT, you’re probably not alone. But the commercial stage biotechnology The company has become very popular among penny stock traders on Reddit. Quotient’s aim is to radically change the way commercial diagnostics are performed in a clinical setting. It offers a proprietary multi-channel microarray technology called MosaiQ. This allows many tests to be performed on different methods.
Some investors believe this could be a game changer in the medical testing industry. This is because it can significantly improve efficiency and reduce costs significantly compared to current methods. Also, the company recently developed a version of it called MosaiQ Covid-19 Antibody Microarray. It is CE marked and has received an EUA or an Emergency Use License from the FDA. Earlier this week, the company announced that MosaiQ had won the prestigious Red Dot Design Award.
Dr. Peter Zec, Founder and CEO of Red Dot, said that “The international jury only awards this highly sought-after quality award for products with outstanding designs. Your product, MosaiQ by Quotient, was able to convince our jurors and received an award in the Product Design category of the 2021 Red Dot Awards.
In response to this, Quotient CEO Manuel Mendez said that “this is a testament to our partners and our team’s creative and design efforts throughout the years. Our systems are specifically designed to address the challenges of today’s resource-constrained diagnostic environment to help improve clinical decision-making. ”With this interesting award and the potential potential of this technology, is QTNT stock worth a look?