One of the most popular platforms for trading penny stocks has been Robinhood. Where many could have a negative outlook on the app, others find it very easy to use. I’ve looked at the app myself and can say that there are both positives and negatives. The biggest negative for penny stocks on Robinhood is that you’re limited to certain exchanges. Of course, the OTC can be a higher risk exchange. But many of the penny stocks that trade there also produce large gains.
When it comes to penny stocks to buy, you have to have your head on a swivel. The direction of these tiny stocks can shift in seconds. A lot of that can depend on what’s going on in the market or in a company. Obviously, things like penny stock news can act as positive or negative catalysts. But if you find the right penny stocks to buy, it can be one of the most rewarding.
Either way, if you are looking for a list of penny stocks on Robinhood, there are some easy settings you can use. Here is a look at 4 penny stocks to watch on Robinhood trading under $4 that have started to catch some attention this week.
Robinhood Penny Stocks To Watch #1: Taronis Technologies (TRNX)
Taronis Technologies Inc (TRNX Report) stock has been on an impressive run since last week. This started after the company signed a memorandum of understanding about a joint venture with a partner from El Salvador. According to the terms of the agreement, the joint venture, Taronis Fuels, will sell, market and exclusively produce MagneGas in El Salvador.
The penny stock news was received well by the market on August 5. Over the course of the past week, TRNX stock rose by as much as 56%. It goes without saying that it is a stock many investors have their eye on at the moment. During premarket trading on August 14, TRNX has been hovering between $0.77 and $0.80.
Penny Stocks On To Watch #2: Pedevco Corp (PED)
Energy project developer Pedevco Corp (PED Report) is another penny stock to watch. Pedevco stock has managed to gain considerably since it announced its quarterly results on August 13. The company’s success with Phase 1 development of a property in the Permian Basin has been the main factor behind its great showing in the quarter. After these results, PED stock started to shake a bit. It closed its Tuesday session about $0.40 off its $1.75 high.
Revenues hit $4 million, up from $898,000 in the prior-year period. After the publication of the results, the stock rose by as much as 30%. Commenting on the results, J. Douglas Schick, President of the Company, stated, “We are very pleased with our 2nd quarter results, which is our first quarter that reflects the partial results from Phase One of our 2019 Permian Basin development program. We look forward to continuing to execute our development plans in 2019, further increasing production and revenue, and delivering on our promise to build shareholder value.”
Penny Stocks To Watch On Robinhood #3: Foamix Pharmaceuticals (FOMX)
Foamix Pharmaceuticals Ltd (FOMX Report) has been another mover among penny stocks over the past two weeks. The move in FOMX stock started at the end of July. Since then the stock has appreciated by as much as 50%.
On August 5, there was even better news for Foamix. It submitted the application for a new drug in the US. That proved to spark even more momentum in the penny stock. This is may become a stock to watch on Robinhood over the next weeks.
Penny Stocks To Watch #4: Mustang Bio (MBIO)
Recently, the stock of clinical-stage biopharmaceutical company Mustang Bio Inc (MBIO Report) rose significantly. The jump came after the company made a major announcement on August 13. Mustang announced that it had managed to get a $9.28 million grant from the City of Hope. It allows the company to work on the trial of its medicine MB103. This proved to be an incredibly positive piece of news. MBIO stock rallied by as much as 23% following the announcement.
“We congratulate City of Hope on receipt of this prestigious grant to fund the Phase 1 MB-103 trial…We look forward to continuing to work with the City of Hope team to advance this program.”Manuel Litchman, M.D., President and Chief Executive Officer of Mustang