top penny stocks robinhood april 10

Penny stocks and the Robinhood trading app go hand in hand with younger traders. And like all things dealing with these micro cap stocks and small cap stocks, volatility is what has attracted investors.  Typically, penny stocks can skyrocket 50% or more within a matter of hours. On April 10, 2019 there are 5 penny stocks in particular that have begun to trend on Robinhood:

Shares of this penny stock saw a very active opening bell on April 10. TransEnterix (TRXC Chart) volume was well above average and the stock briefly broke above its 50 day moving average ($2.50). Essentially, any move through a major moving average could be seen as a positive for particular penny stocks.

What was behind the latest spike in trading for TRXC stock?

The company’s announcement from March could shed some light on the company’s developments. Last month, TransEnterix said that it will be hosting events to highlight its Senhance™ Surgical System. This would be at the 2019 Annual Meeting of the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) April 3 – 6, 2019.  Could this mean results were favorable for the TRXC system?

News broke early from ATA (ATAI Chart) this morning. The China-based provider of computer-based testing services entered into a non-binding agreement to buy Beijing Huanqiuyimeng Education Consultation. We reported on this penny stock on Tuesday, highlighting the specifics of this deal: Top 10 Penny Stocks Making Big Moves – April 9, 2019 Edition

The uptrend continued to push shares higher on April 10. ATAI stock saw highs of over $3 before lunch. Just a few days ago ATAI was trading at roughly $1.

Avinger (AVGR Chart) stock gapped up this morning following some big FDA news. Just like with many biotech penny stocks, any regulatory news can greatly impact a stock. In the case of AVGR stock, the reaction was favorable.

Avinger received 510(k) clearance from the U.S. Food & Drug Administration for its Pantheris SV image-guided atherectomy system. For those unfamiliar, this 510(k) clearance is essentially a Premarket Notification. More importantly, this is done before a device is introduced into commercial distribution for the first time.

“This allows FDA to determine whether the device is equivalent to a device already placed into one of the three classification categories.” US FDA Website

The recent excitement around energy stocks has helped boost the sector.  For Crescent Point Energy (CPG Chart) stock specifically, earnings has been a sticking point.  Shares are up almost $1 over the last 4 trading days.

So, what could be driving this move?

Well, to look ahead, you need to look a bit in the past.  The company has seen its share of negative sentiment and previous management appears to not be favored by the street.  But new updates could be helping to bring new life into this penny stock.

“The key part of CPG’s forecast is that it is maintaining flat production and doing so while forecasting $400 million of free cash flow, or FCF, at the current strip…By targeting the cheapest locations which can allow the company to maintain production, CPG is dramatically bringing in its costs.”

-Seeking Alpha Contributor Trapping Value

What list of penny stocks would be complete without a low float penny stock? Inpixon (INPX Chart) fits this mold to a “T”. The current float shows more than 4.55M shares. In addition, the Outstanding Share count is just over 6 million shares. In other words, the float is very low considering the stock price is less than $3 a share.

Why did INPX stock move today?

An acquisition announcement was released. Inpixon has a non-binding term sheet to buy a tech company wireless positioning and radio frequency augmentation of video surveillance. That company’s name is Locality Systems Inc. based in Vancouver.  A clear mix of big buying, low float, and news has helped boost prices on Wednesday morning.

“We’re excited at the prospect of combining Locality Systems within the Inpixon family.  Locality’s visitor information solution fits nicely into our IPA Intelligence line-up as a Wi-Fi-only offering that complements our IPA Sensors.”

Nadir Ali, Inpixon CEO
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