buy penny stocks on robinhood

Penny stocks trade on a number of penny stock trading apps. One app that has become popular is Robinhood.  The no-fee platform allows traders and investors to buy penny stocks without paying a trading fee.  That’s a great benefit if you’re learning how to trade penny stocks. It’s also nice if you have less capital to play with.  All the same, even if you have more cash on hand, some penny stocks can’t be traded on Robinhood. Most of these stocks are OTC penny stocks like the following:

Global Environmental Energy Corp. (GEECF): +1,300% In 4 Days

This sub-penny stock has skyrocketed over the last few trading sessions.  At the beginning of the month, Global Environmental Energy Corp. (GEECF Stock Quote) stock was trading around $0.0004. Just a few days later, shares hit highs of $0.0056. That move was worth a cool 1,300% and that’s something you won’t see from shares of Facebook (FB) or Twitter (TWTR) during the same time frame.

GEECF stock chart

So, why did GEECF take off so much? There’s speculation on a few things that could be going on with the company yet the jury is still out.  My personal opinion is that this sub penny stock caught some volume and because it’s got a STOP sign on OTCMarkets, there’s less of a chance that insiders can convert shares, let alone deposit them! Sometimes these anomalies can happen with OTC, non-reporting, dark, defunct penny stocks.  Just know that these rallies can be short-lived so practice caution.

Darkstar Ventures (DAVC): 1,236% In 5 Days

This company’s stock was under a penny just a few days ago.  Darkstar Ventures (DAVC Stock Quote). Unlike Global Environmental Energy, DAVC stock began running after releasing penny stock news.  On April 30th the company announced that it intended to merge with Samsara Luggage Inc. Sometimes in the world of penny stocks, even the slightest positive news can trigger a rally. 

DAVC stock chart

In this case, I believe DAVC stock realized this event. The news highlighted the fact that Samsara Luggage was awarded to the Golden State Warriors (yes, the basketball team). Needless to say, it seems as though this news was a catalyst for the move and we’ll continue to monitor any new progress.

So, Can I Buy These Penny Stocks On Robinhood?

The unfortunate part of using the Robinhood trading app: limited access. You’re not only limited to certain penny stock technical analysis. The limit also extends to the kinds of penny stocks you can buy. The bottom line: these two stocks list on the OTC and only certain penny stock brokers allow access. Pro Tip: Penny Stock Brokers: Which Ones Are The Best For 2019?

Though these brokers charge trading fees, they open up an entirely different part of the market. At the end of the day, the choice is yours. But with respective gains of more than 1,000% in just a few days, is it worth it to have another account open at some of the other brokers? You decide.

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