robinhood penny stocks to watch

Penny stocks are incredibly volatile and sometimes it can be hard to pinpoint the best cheap stocks to watch.

One thing to consider is the timing of the market and certain penny stock sectors. With respect to these sectors, I’m talking specifically about cyclical moves. More times than not, companies in the marijuana industry or the tech industry will go through phases of ebbs and flows during the year. But when these stocks bottom out, investors may consider them penny stocks to buy due to lower pricing.

This month, however, the markets are in a dizzied state. Concern over China, the US Federal Reserve, the global economy, and oil & gas have all put investors up in arms. Bottom line, penny stocks can tend to see less impact by macroeconomic events and therefore could be good stocks to watch.

In this case, it’s also important to consider who’s buying penny stocks. Consider, for instance, millennials. They will typically sway to Robinhood penny stocks due to the platform’s low to no trade fees. Also, penny stocks on Robinhood also have a considerable amount of trading volume thanks to a growing user base.

Needless to say, during August, we’ve seen plenty of these stocks take off big. But on Monday, some of the Robinhood penny stocks have produced multi-triple digit gains. Some are in technology while others focus on health sciences. Here are 5 penny stocks on Robinhood that are seeing considerable momentum this week already:

Robinhood Penny Stocks To Watch #5: Ardelyx (ARDX)

Ardelyx (ARDX Stock Report) has managed to sustain a multi-day move so far. And if you’re not a penny stock trader who can spend time watching a screen all day, this is likely a pleasant penny stock to watch. When it comes to penny stocks and full-time jobs, it can be difficult to find an even balance. Due to the volatility that many of these cheap stocks have, gains can be had and lost within minutes. That’s not the case for Ardelyx.

robinhood penny stocks Ardelyx Inc (ARDX)

ARDX stock has been running higher ever since last Friday. However, there was no substantial news to consider. In any case, shares are up from lows of $2.17 and have hit highs of $2.99 on Monday.

Robinhood Penny Stocks To Watch #4: Trovagene Inc (TROV)

Another relatively low float penny stock to watch on Robinhood, Trovagene Inc. (TROV Stock Report) shows a float of just over 5 million shares. That is larger than DPW, however, still considered low by most traders. Last week this became one of the penny stocks to buy on Thursday as the company’s news triggered a run-up.

Trovagene Inc (TROV)

Trovagene announced that new clinical data from its Phase 2 trial of onvansertib, in combination with Zytiga®, in metastatic Castration-Resistant Prostate Cancer will be presented as an oral poster at the 20th Asia-Pacific Prostate Cancer Conference. The conference will be held August 23-26 in Melbourne, Australia.

As discussed earlier, penny stock news can become a catalyst for momentum. That could be what we’ve seen over the last few trading sessions. Shares of TROV stock were trading as low as $1.30 last week. On Monday, they have managed to reach highs of $3.12 before the afternoon had begun.

Robinhood Penny Stocks To Watch #3: Miragen Therapeutics (MGEN)

Adding to the excitement in biotech penny stocks is Mirgen Therapeutics (MGEN Stock Report). This has been an embattled penny stock this year. In fact, just last week it reached new 52-week lows of $0.78. But this all changed shortly after the company released news on Thursday.

penny stocks to watch Miragen Therapeutics (MGEN)

Miragen announced that its President and CEO, William Marshall, Ph.D. will give a corporate update at an upcoming conference in September. For those interested, it will be held on September 5 at 8:30AM EDT. But what has helped MGEN stock this week may have more to do with analysts than this conference. H.C. Wainwright initiated a BUY rating for MGEN stock and a target price of $3. That seems to have boosted the market a bit as shares have rallied to highs of $1.69 already.

Robinhood Penny Stocks To Watch #2: Yuma Energy (YUMA)

Energy penny stocks have been in the spotlight for most of this month. The ups and downs of the market seem to have made them range-bound equities. However, Yuma Energy (YUMA Stock Report) may have become an outlier at least for this week.

Yuma Energy (YUMA)

What happened to YUMA stock? After toppling from highs of $4.08 to lows of $1.23, the energy stock’s shares were catapulted on Monday. The reason behind this monstrous move could have something to do with its latest corporate update. Specifically, the company cited that it is going to take certain steps to restructure and further discuss the debt with a hopeful outcome reached.

“On the restructuring front, while the process is taking some time, we have been engaged in various discussions. However, a substantial risk exists that the company will be unable to reach agreements on key issues related to our outstanding indebtedness which will continue to impair our ability to move the company forward.”

Anthony Schnur, Yuma Energy’s interim CEO

Robinhood Penny Stocks To Watch #1: DPW Holdings (DPW)

Shares of this tech stock are soaring this week. DPW Holdings (DPW Stock Report) announced this morning that the company’s subsidiary, Digital Power Lending, LLC finished up beta testing its online investment portal. According to the company, the portal pays investors each month and each investment is based on a simple portfolio/criteria.

Robinhood penny stocks DPW Holdings (DPW)

“When DPW became a holding company, we envisioned the opportunity to fund our subsidiaries and partner companies. We believe MonthlyInterest.com will be disruptive by providing investors the opportunity to invest directly into companies and technology that will have a global impact, bypassing traditional banking and lending institutions,” stated DPW’s CEO and Chairman Todd Ault, III.

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The announcement seemed to have shaken up the market. In fact, penny stock investors looking at DPW stock saw it skyrocket to highs of $10.68. That’s a night and day difference from its previous close of $2.06 last week. Will it still be on your list of penny stocks to buy this week? Considering it typically trades under 200,000 shares a day, it could at least be a penny stock to watch closely. Also consider that its float shows to be less than 1 million shares according to Yahoo Finance. This would explain the catapult in price on Monday. Any new updates, we’ll report.

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