E Reddit Stocks Continue Benefiting From Cryptocurrencies & Speculation

Should Small-Cap Stocks Be On Your List To Buy This Quarter?

Who said that mom and pop investors couldn't influence the stock market today? It has long been considered the "dumb money" bet made by "less educated" investors. The "smart money," according to old hat thinking, came from hedge funds and institutional investors. But as I'm sure many of you have already seen, that isn't necessarily the case anymore. This seemingly came to a head earlier in 2021 with the initial short-squeeze in stocks like GameStop (GME), Express (EXPR), Koss Corporation (KOSS), and many others. 

Social media outlets, including Reddit and Twitter, were the supposed sources of the groundswell that ensued. Shares of these former penny stocks ended up exploding to record levels. "GameStonk" alone rallied by more than 2,440% from the beginning of January to its 2021 high of $483. While all of these Reddit stocks have come back down to earth, the vast majority continue trading much higher than they began the year. What's more, subreddit traders from places like r/WallStreetBets, r/RedditPennyStocks, and r/PennyStocks have continued focusing on lesser-known names. 

reddit stocks to watch

This week, shares of MicroVision (MVIS) soared to new highs. Believe it or not, this time last year, the lidar tech stock was considered a penny stock. On April 27, 2020, shares were trading around a quarter. One year to the day later, we see small-cap stock trading 11,100% higher. The originally bullish outlook on the stock came after rumors surfaced wherein MicroVision was seeking out strategic alternatives. The company had retained Craig-Hallum to help in this process. This was when the rumor mill began throwing around names like Microsoft (MSFT) and others as potential companies that might have an interest in MicroVision. While nothing like that would come to fruition, it did open up retail traders to the stock. Fast-forward to this month, and Redditors sank their teeth into the former penny stock. The mix of EV speculation based on Lidar and general sentiment surrounding small-cap stocks has helped trigger a strong move in the market. 

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William K. 1 month ago Member's comment

Why is crypto-currency surging? It is "something new" and so it attracts attention, plus it is not that well understood, and so the mystery attracts some folks. The market is certainly not all cold science, and thus arriving at a totally logical analysis will be challenged a bit. And so certainly there is "Something for Everyone."