Will These Robinhood Penny Stocks Sustain This Week’s Early Gains?
Penny stocks and blue chip stocks alike are all experiencing a surge in the stock market today. Optimism stemming from Pfizer’s (PFE Stock Report) latest vaccine update has triggered a rebound in numerous industries. Some of the most beaten-down names are rising on Monday thanks to these headlines.
More focus is being placed on what the market will look like once the U.S. officially knows who its president will be. Regardless of this case, one of the fastest-growing penny stock brokerage apps, Robinhood could give clues as to investor interest right now. I’m not just talking about the most popular penny stocks on Robinhood. I’m also referring to the usage of the app itself.
Read More | Investors Are Scrambling To Get Ahead Of The Oncology Drug Market Boom
Over the weekend we released a report about penny stocks brokerage growth statistics for 2020. Many speculate that the mobile-friendly app saw 5 million new accounts during the first 9 months of the year. With that, there’s a good chance that an entirely new generation of traders are looking to make money in the stock market. Today, Robinhood actually released a statement inside the app:
This could be a good sign that traders are starting to come back into the market once again. Trading volumes leading up to the election were lower than normal. Then, as the election grew closer, higher selling volume tipped the scales. With growing optimism and pent up momentum in light of a coronavirus vaccine, markets are once again surging. In fact, the S&P 500 reached a new all-time high on November 9th. The biggest thing to consider is whether or not this market exuberance will last through the week. In light of this, are any of these Robinhood penny stocks on your watch list right now?
Robinhood Penny Stocks To Watch
- Ashford Hospitality Trust (AHT Stock Report)
- Trivago (TRVG Stock Report)
- CBAK Energy Technology Inc. (CBAT Stock Report)
- Express Inc. (EXPR Stock Report)
- FuelCell Energy (FCEL Stock Report)
Robinhood Penny Stocks To Buy [or sell] #1: Ashford Hospitality Trust
Shares of several real estate and travel stocks have taken off on Monday. In light of positive news from Pfizer, the thought is that this could give way to fully reopening the economy.
[Read More] 3 Penny Stocks On Robinhood To Watch This Week
Ashford Hospitality Trust (NYSE:AHT) was among this group of penny stocks to watch today. Ashford is a real estate investment trust that invests in full-service upscale and upper-upscale hotel properties in the U.S. This includes operating under the Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton flags.
What To Watch With AHT Stock
With social distancing and lockdown measures this year, companies like Ashford haven’t had the easiest time getting things turned around. In fact, AHT stock reached a fresh 52-week low a few weeks ago. Considering that Ashford was trading around $28 in January, there’s still quite a bit of ground to cover. Needless to say, Monday’s action has AHT stock up over 40% from Friday’s closing price. Will this be the first step in taking back losses from earlier this year?
Robinhood Penny Stocks To Buy [or sell] #2: Trivago
Trivago (NASDAQ:TRVG) is another one of the travel and leisure penny stocks to watch today. The company is most notably known for its simple and informative advertising strategy for discount hotel bookings. On Monday, TRVG stock experienced its highest share volume day of the year trading more than 2.6 million shares before the lunch hour.
What To Watch With TRVG Stock
Aside from the market optimism, traders should also make note of recent trends for Trivago. Specifically, the company said in its last earnings report that it experienced seasonal increases in travel volumes. Easing lockdown restrictions have helped get things back on track. Even with record coronavirus cases, it would appear that Pfizer’s vaccine news has boosted hopes even higher for travel and leisure, at least for now.
Robinhood Penny Stocks To Buy [or sell] #3: CBAK Energy Technology Inc.
When you talk about certain sectors with hot penny stocks, renewable energy and electric vehicles have been on that list for a while. What began from hype surrounding Tesla’s Battery Day has now grown into a sector surge lasting for months. New EV companies are popping up and former, down in the dump companies like Nio Inc. (NIO Stock Report) are flying high. More traditional car companies including the likes of luxury automakers like Bentley are also making their way into the space. With that, there’s likely a need for more of everything. Batteries, raw materials, power, etc. are part of this “everything”.
What To Watch With CBAT Stock
CBAK Energy Technology Inc. (NASDAQ:CBAT) is a company we’ve discussed for months, now. It was one of the top penny stocks to watch in September and has remain on the list ever since. CBAK is a lithium-ion battery manufacturer. So it makes sense as to why CBAT stock might be gaining some attention right now.
Read More
- 5 Biotech Penny Stocks To Watch With Recent & Upcoming Events
- Are These Top Penny Stocks To Buy If Biden’s Confirmed As President?
What’s more, is that CBAK announced in September that its product release of 32140 large-sized cylindrical tabless battery has officially passed its technical and Pilot Plant tests. CBAK is now planning for the construction of new standardized production line. The company aims to achieve mass product delivery in the first half of 2021.
Robinhood Penny Stocks To Buy [or sell] #4: Express Inc.
Another grouping of stocks we’ve discussed is epicenter stocks. These are ones that’ve gotten beaten down the most but could essentially rebound strongly with an economic recovery. Think about things like energy, consumer cyclicals, etc. Express Inc. (NYSE:EXPR) is a clear example of how the retail sector took a hit this year.
Since the start of 2020, EXPR stock has fallen as much as 88% from the start of the year to last week’s 52-week lows. Needless to say, since the beginning of the month, EXPR stock has mounted a recovery with Monday further extending that move.
What To Watch With EXPR Stock
The company is focused on fashion retail with a large presence in shopping malls. They’ve also increased their footprint online, taking a brick and click approach. Similar to other retailers, this approach seems to have helped combat some of the other side effects of the pandemic shutdowns. With the news from Pfizer on Monday, will this ultimately signal a turnaround for retail companies?
Robinhood Penny Stocks To Buy [or sell] #5: FuelCell Energy
Similar to CBAK, FuelCell Energy (NASDAQ:FCEL) is another company contributing to the clean energy trend. The company provides fuel-cell power capable of converting chemical energy in fuels into electricity. FuelCell mainly serves industrial, wastewater treatment, commercial real estate, and other large-scale sites.
What To Watch With FCEL Stock
In fact, the company just recently won an $8 million funding aware from the Department of Energy. We discussed this late last week when sector momentum continued pushing FCEL stock higher. With primary operations in the U.S., the latest jump in reopening stocks has made its impact on FCEL as well. Even with this as the case, the penny stock had already been in a considerably strong uptrend over the last few weeks. Since October 30th, FCEL stock has climbed over 30%.
