One of the most used penny stock trading apps is Robinhood. Now, I’m not the biggest fan of this mobile-based app but its popularity can’t be ignored. Many of the penny stocks Robinhood traders look for are low priced. For this reason, micro cap stocks and small cap stocks tend to be active topics.
Some of the biggest attractions of penny stocks are that they generally trade below $5 and there is always the potential of making money with penny stocks. This may be true even if the stock goes up by a couple of dollars or even cents. That being said, it’s easier said than done. If investors end up making the wrong choices, then there is also the possibility of losing money.
Hence, it is highly important to conduct your own research to put together a strong list of penny stocks. Here is a look at three penny stocks that gained considerably this month.
Robinhood Penny Stock To Watch #1 Rekor Systems (REKR)
One of the first penny stocks to watch is Rekor Systems Inc (REKR Stock Report). which has gained by as much as 100% over the course of the month so far. Rekor is involved in the production of vehicle recognition systems. Earlier this month, the company announced that it joined NVIDIA’s Metropolis Software Partner Program.
By way of this membership, Rekor Systems will be able to leverage Graphics Processing Units, that belong to Nvidia. They can then use it to speed up the development of its OpenALPR vehicle recognition system. It is a significant development for the company and the market recognizes that.
Robinhood Penny Stock To Watch #2 Achillion Pharmaceuticals (ACHN)
The other penny stock that has made significant moves over the past few days is that of Achillion Pharmaceuticals (ACHN Stock Report). On July 22, the company announced highly encouraging results from the Phase 1 study of ACH-5228. This is its experimental oral factor D inhibitor drug. As everyone, knows, if there are great reports with regards to clinical studies then biotech stocks generally gain.
That is what happened with the ACHN stock. After the announcement on Monday, the stock soared by as much as 13%. But that was not the end and it has continued to hold its momentum. At this point in time, the stock has gained 50% this week. It is definitely a penny stock to watch.
Robinhood Penny Stock To Watch #3 DURECT Corporation (DRRX)
Last but not least, biopharmaceutical company DURECT Corporation (DRRX Stock Report) has been one of the biggest gainers among penny stocks this month. DRRX stock gained as much as 60% in July so far.
On July 22, the company further announced entry into a licensing agreement with Gilead for DURECT’s SABER technology propelled HIV injectable product. Gilead is going to market the product worldwide and it goes without saying that it is a significant development for the company.