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These Hot Penny Stocks Continue to Spike As a Result of Reddit Traders Reddit penny stocks have become some of the hottest trending penny stocks to watch over the last year. If you’re unfamiliar, Reddit is a social media platform that allows individuals to form groups or Subreddits. These Subreddits are based on anything from cats to old cars and you guessed it, penny stocks. Popular investor Subreddits include the likes of r/WallStreetBets and r/RedditPennyStocks among others.  And while this may not have had a major effect on actual trading in the past, it is now a major factor to consider. Only a few months ago, traders came together to invest in shares of GameStop Corp. (NYSE: GME) to try and beat out a large institutional short position. This resulted in shares of GME stock spiking in the thousands of percentage points in only a short period. 

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