Though most penny stocks don’t echo the same sentiment of the broader markets, it’s earnings season. What does that mean? In general, a positive outlook on the market helps boost stocks at all price points. As the saying goes, “A rising tide lifts all ships.”
Despite the pullback in the stock market yesterday, the lift it’s getting today is helping breed some new bulls. And that means more excitement for volatile penny stocks. The list of penny stocks trending on stock app Robinhood include some new faces and old favorites that PennyStocks.com has reported on already in April 2019.
Top Penny Stock On Robinhood #5: ReWalk Robotics (RWLK)
ReWalk Robotics (RWLK Stock Chart) caught attention from penny stocks investors earlier this morning with a strong gap up on news. The company announced that the first Cigan Corp insurance beneficiary received a home and community use exoskeleton, ReWalk Personal 6.0. This model may seem familiar, as we know many penny stock investors like to trade shares of Ekso Bionics (EKSO Stock Chart).
But, this isn’t Ekso and ReWalk stock has taken off on April 16th. Post Tax Day blues have subsided and the bionic technology stock has moved up as high as $4.58 after hitting lows of $3.27 the previous day. It’s also important to note that the stock has traded with record volume and unfortunately has held a sideways trading channel for most of the day.
Top Penny Stock On Robinhood #4: Bridgeline Digital, Inc. (BLIN)
Bridgeline Digital (BLIN Stock Chart) caught some mid-morning trading momentum on Tuesday. Why did BLIN stock jump today? Though there was no news to act as a catalyst, shares of BLIN have been trading actively for the last 4 days. What seems to have triggered the excitement has a lot to do with the company’s April 11th press release.
What did Bridgeline announce? The company chose OrchestraCMS to develop a web app for managing “one of the top five largest convenience store chains.” Though the convenience chain was unnamed in the press release, a look on websites like The Balancesmb dot com show the list to include: 7-Eleven, Alimentation Couche-Tard Inc. (Circle K, Dairy Mart, etc.) (ANCUF Stock Chart), Shell Oil/Motiva Enterprises, Marathon Petroleum (MPC Stock Chart), and Chevron Corp (CVX Stock Chart). We will see if the convenience store chain ever will be named in the future as the story develops.
Top Penny Stock On Robinhood #3: Achaogen, Inc. (AKAO)
Achoagen (AKAO Stock Chart) has seen some rough days in the market this month. But after releaseing less than attractive news this week, the penny stock has pushed higher on Tuesday.
So what happened and what do you need to know about AKAO stock?
Achoagen filed for Chapter 11 bankruptcy this week and is seeking authorization for the auction and sale process to begin. Its secured lender, Silicon Valley Bank, has committed to $25 million in funding to handle this next phase. The whole thing is expected to enter completion steps in June of this year. Between April 15 and April 16, the stock traded its highest volume,
Top Penny Stock On Robinhood #2: Iconix Brand (ICON)
What can you say about bad penny stock news, declining earnings, and new convertible notes? Well, in the case of Iconix Brand Group (ICON Stock Chart) that equates to gains in the wake of record volume. That’s right, revenue declined 17% and there were new convertible notes issued but ICON stock investors were warned about this.
The company owns, licenses and markets myriad brands. The main impact
“We have finalized our review ofBob Galvin, CEO, Iconix Brand Group
businessand operational goals and objectives and we have put our plan into effect. As a result, we have reduced our operational cost structure by approximately $30 million to align with our plan. On the business front, the quarter was negatively impacted by the Sears bankruptcy, while our international business continued to demonstrate strong growth. We continue to build the pipeline of our future business, as we have signed 83 deals over the last six months for aggregate guaranteed minimum royalties of approximately $45 million through the life of the agreements for the next several years.”
Top Penny Stock On Robinhood #1: Precipio, Inc. (PRPO)
Precipio (PRPO Stock Chart) has been a penny stock that has made it on our top lists for a good part of April. So what happened today that helped give some extra charge to the stock? Precipio is expecting to file its Form 10-K on the 16th. This is the filing that will show its financial results for the fiscal year ending on December 31, 2018. It would appear that anticipation is high right now with shares hitting another near-record volume day.