Did These Robinhood Penny Stocks Make Your Watch List?
Whether you’re buying penny stocks on Robinhood, Webull, TD Ameritrade, or other brokers, the goal is the same: make money. Some platforms are easier to use than others. While there are certain platforms that allow more access to trading tools and even other stocks comparatively speaking.
When it comes to buying penny stocks on TD Ameritrade, you’ve got your pick from OTC to NASDAQ and NYSE stocks under $5. However, when it comes to platforms like Webull and Robinhood, penny stocks are limited to just those trading on major exchanges (I.E. NYSE & NASDAQ). Again, the goal is to make money with penny stocks.
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Earlier today we talked about the idea of penny stocks vs fractional shares. This has become a popular topic of discussion especially this year. I think the idea of fractional shares is great for those looking to gain some exposure to the stock market today. However, the gains are limited to the gains experienced by the underlying stock.
Penny Stocks V.S. Fractional Shares
For example, if you wanted to buy $100 worth of Amazon, you’re entitled to a certain percentage of a share. If amazon goes up 10%, your fractional value increases. But for Amazon to jump 10% right now, it would take a move of over $300. That might take a considerably longer time to attain than buying $100 worth of a 20 cent stock and waiting for it to increase 2 cents; that’s it. In both cases, there are risks and rewards, of course.
Penny stocks are obviously riskier due to the fact that the same 2 cent move lower is a 10% cut to your position. So it’s important to have a plan before you buy penny stocks on Robinhood, Webull, or any other platform you choose.
Penny Stocks On Robinhood To Watch: ADMA Biologics Inc.
ADMA Biologics Inc. (ADMA Stock Report) has been experiencing some higher volume recently. The last 3 sessions have averaged more than 5.5 million shares per day. Considering that ADMA stock hadn’t traded more than 2.8 million shares in a single day over the last few weeks, it’s a noticeable increase. Furthermore, since last Friday, ADMA stock has climbed from around $2 to highs of $2.56 this Friday.
After recovering from the big drop in March, ADMA stock was relatively flat up until the end of August. In July, The Wall Street Journal came out with a report that suggested potential opportunities for plasma collection companies. Then in August, the President of the United States commented on plasma-related companies.
Thus, became the big boom in plasma stocks for a brief period. Then we saw ADMA stock sell-off again, which took shares down to around $2. The recent surge in momentum appears ot have built up from a mix of COVID-related headlines as well as analyst actions. Last month ADMA launched a COVID-19 ImmunoRank Neutralization MICRO-ELISA. It’s a fully-validated ELISA assay for the detection of SARS-CoV-2 neutralizing antibodies in plasma.
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This month, Raymond James maintained its Outperform rating on the stock. However, the firm lowered its price target from $9 to $7; still 180% higher than its current level.
Penny Stocks On Robinhood To Watch: 22nd Century Group Inc.
22nd Century Group Inc. (XXII Stock Report) is another one of the penny stocks on Robinhood to watch right now. The last few months Have been relatively uneventful in the market. Furthermore, the last few weeks have also been rough with XXII stock pulling back to lows of $0.55. Since then, the penny stock has been slowly creeping up and Friday saw a strong surge in the market.
Shares of XXII stock jumped from and open of $0.625 to highs of over $0.70 before the end of the day. While there wasn’t any news events, there are a few things to take into consideration. This main initiative for the company is gaining FDA authorization for its VLN modified risk tobacco product. Securing FDA marketing authorization for this product is a top priority of the company and a long-awaited milestone. This has been the source of higher levels of speculation in the stock market recently.
In its last corporate update, CEO, James A. Mish, explained, “While our tobacco technology and regulatory progress are taking center stage, we will also grow beyond our current near-term primary mission by advancing our considerable hemp/cannabis technology…22nd Century’s partnership with KeyGene has served as a key competitive advantage for us and we plan to review and refine our focus with KeyGene in the coming months to develop plant lines to serve pharmaceutical and consumer packaged goods.”
The company owns or controls the rights to commercialize over 200 issued and pending patents.
Penny Stocks On Robinhood To Watch: Houghton Mifflin Harcourt Company
Houghton Mifflin Harcourt Company (HMHC Stock Report), much like ADMA, has been on the list of penny stocks to watch for a while now. The main focus has been on Houghton’s involvement in eLearning. This year there’s been an obvious focus eLearning stocks. Houghton Mifflin’s Teacher’s Corner focuses on remote education. It also includes features like curated content, virtual events, and coaching. HMH serves more than 50 million students and 3 million educators in 150 countries.
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Fast-forward to the last few weeks and HMHC stock has pulled back but the company hasn’t stopped moving the ball forward. At the end of September, the company launched its “Family Room” platform. It’s an online space that supports different teaching environments. Family Room provides a library of on-demand resources created “with parents in mind.” Further to this, Houghton Mifflin partnered with Ypsilanti Community Schools offering its connected curriculum.
This month’s news seems to have turned a few more heads recently. Even bigger than the deal with Ypsilanti, Houghton announced that it would begin strategically restructuring its business to accelerate a transformation initiative. On the heels of this news HMHC stock took off at the end of the week.
Specifically, it anticipates reducing total expenditures by $95 to $100 million per year relative to its estimated expenditures for the trailing twelve months ended Sept. 30, 2020. In light of the expenditure reduction and one-time charges, Houghton estimates its 2021 free cash flow break-even billings level to be in a range of $1.02 and $1.07 billion.
