5 Tech Penny Stocks Reddit is Buying

Page 1 of 5

In this article, we discuss the 5 tech penny stocks Reddit is buying. If you want to read our detailed analysis of these stocks, go directly to the 10 Tech Penny Stocks Reddit is Buying.

5. Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV)

Number of Hedge Fund Holders: 6
Price as of August 5, 2021: $2.88

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) is ranked fifth on our list of 10 tech penny stocks Reddit is buying. The company owns and runs resorts and entertainment centres. In recent months, the focus of the company has shifted to online products. In July, the company announced two partnerships related to digital undertakings, one in the esports sector and one for the development of a destination-themed travel application. The firm missed market expectations on earnings for the first quarter. 

In March this year, investment advisory Maxim maintained a Buy rating on Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) stock and raised the price target to $28 from $10, noting that the firm was shifting to a new content ownership model that should boost valuation. 

At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $12.7 million in Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV), down from 7 the preceding quarter worth $528,000.


Page 1 of 5