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June 15, 2021, 9:06 a.m. EDT

Best Penny Stocks on Reddit to Buy? Check These 4 Out in June

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Jun 15, 2021 (Penny Stocks via COMTEX) -- 4 Reddit Penny Stocks For Your June Watchlist

Finding penny stocks on Reddit has become a favored pastime for many investors. While it can be challenging, investing in penny stocks can also be a profitable endeavor. There are a few ways to ensure your best chance at seeing your portfolio become green.

The first and most important with penny stocks or any stocks for the matter is research. Research is what separates pro traders from those just starting. And while there isn't any one website or information source, in particular, scouring the internet for any and all info can be beneficial.

The next step is to understand what speculative factors are impacting a given penny stock or industry. This could be news, press releases, industry-wide events, and more. Because penny stocks on Reddit tend to be even more speculative than just penny stocks alone, understanding what makes them move is incredibly important.

[Read More] Cheapest Penny Stocks on Robinhood? Here's 3 to Watch Right Now

Lastly, investors should learn how and when to take profit. Being greedy with penny stocks will land you nowhere but in the red. And, this includes the idea of FOMO or the fear of missing out. Let's say you see a penny stock mentioned on Reddit that has shot up substantially in only a day or two.

Many investors would try to jump in to be a part of the meteoric rise. However, this will without a doubt, result in losses. So, never trade with emotion, and always have a strategy. Considering this, let's take a look at some of the best penny stocks on Reddit to watch right now.

4 Reddit Penny Stocks to Watch in June 2021

  1. Cyclerion Therapeutics Inc. ( NASDAQ: CYCN )

  2. Vislink Technologies Inc. ( NASDAQ: VISL )

  3. China XiangtaiFood Co. Ltd. ( NASDAQ: PLIN )

  4. Boxlight Corporation ( NASDAQ: BOXL )

Cyclerion Therapeutics Inc. is a biotech penny stock that has been attracting quite a lot of attention in the past few weeks. For some context, CYCN discovers, develops, and commercializes central nervous system disease treatments and medicines. One of its candidates is CY6463 which is a CNS-penetrant, soluble guanylate cyclase stimulator. This compound is in Phase II trials to treat mitochondrial encephalomyopathy, lactic acidosis, and stroke-like episodes.

On June 4th Cyclerion released an update regarding a major licensing agreement. The company announced that it has entered an exclusive global license agreement with Akebia Therapeutics Inc. to develop and commercialize praliciguat. Akebia will be solely responsible for the development and commercialization of this compound. And, Cyclerion is eligible for up to $225 million in pre-commercial milestones, and total future milestone payments of up to $585 million. This is quite a major deal, and licensing is one of the most common ways for biotech companies to gain revenue.

The CEO of Cyclerion states, "This capital, coupled with the praliciguat out-license announced today, reinforces our strategic focus in CNS and will accelerate the advancement of clinical studies for CY6463 and the further development of our next generation molecule, CY3018."

When the announcement was made, CYCN stock was under $3.40 per share on average. Now on June 14th, CYCN stock price is at $4.30 a share on average. This is a sizable jump in only a relatively short time frame. But, considering the size of the deal mentioned above, it makes sense. Keeping all of this recent information in mind, could CYCN make your biotech penny stock watchlist?

Vislink Technologies Inc. is a tech penny stock that we've covered quite a few times in the past several months. This company designs, develops, and delivers wireless communications solutions. Its products include live production devices such as high-definition communication links for managing live events and more.

Its products are offered in the U.S., South America, Europe, Asia, and other countries around the world. While the use of live broadcasting products had declined earlier in the year, many believe that this market could begin to reach pre-pandemic levels as Covid comes to an end.

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