Do You Know How To Find The Best Penny Stocks On Robinhood?
Penny stocks have a lot of untapped potential that can turn in to massive profits for investors. An issue that many have is lack of volume. When finding penny stocks to buy, this should be an important factor in your research. Furthermore, you’ll want to make sure that the list of penny stocks you make is accessible on your trading platform.
When it comes to penny stocks, Robinhood is an efficient app to use. Yet it does limit you to certain penny stocks to buy. As a rule of thumb, if a stock trades Over The Counter or “on the OTC,” you’ll not likely find it on Robinhood. Needless to say, there are still myriad choices when it comes to buying penny stocks on Robinhood.
Here are a few penny stocks to watch that are bringing in strong volume along with positive moves:
Penny Stocks To Watch #1: Clearside Biomedical Inc (CLSD)
Clearside Biomedical Inc (CLSD Stock Report) is a biotech penny stock on Robinhood. The company focuses on creating treatments to improve the vision of those with eye disease. The company’s made treatment, Uveitis, is currently undergoing its Phase 3 clinical trials. This biotech penny stock Is skyrocketing pre-market going from $0.5941 to $0.9732.
The company announced its option and license agreement with REGENXBIO which prompted this impressive move. The agreement grants REGENXBIO the rights to Clearside’s Microinjector so they can deliver its RGX-314. The drug aims to treat wet age-related macular degeneration.
Penny Stocks To Watch #2: Sesen Bio Inc. (SESN)
Another one of the biotech penny stocks on Robinhood is Sesen Bio Inc. (SESN Stock Report). The company develops fusion protein medicines designed to target cancer cells. During premarket trading hours over the last 3 trading sessions, SESN stock has seen above-average trading volume. This trading volume has allowed for strong movement in the stock which gapped up nearly 5% on Wednesday.
Recently, the company announced a CFO transition appointing Monica Forbes as CFO.
“Monica’s breadth of strategic and financial leadership experience, as well as her expertise in building operational infrastructure, M&A, and accessing capital markets, […], which will be essential to support the Company as we evolve from a development stage organization and drive towards the potential approval and commercialization of Vicinium®.”Dr. Cannell, Sesen’s CEO and President.
Penny Stocks To Watch #3: Chesapeake Energy Corporation (CHK)
Chesapeake Energy Corporation (CHK Stock Report) is an energy company that prioritizes obtaining high-value oil and natural gas assets. This allows the company to maintain and operate with strong production and low costs.
CHK stock is experiencing a 3.2% gap up during premarket hours. Its stock price has increased from $1.33 to $1.43. In addition to the price increase, the energy penny stock is experiencing above-average volume.
Penny Stocks To Watch #4: Ovid Therapeutics (OVID)
Another biotech penny stock on Robinhood is Ovid Therapeutics (OVID Stock Report). The company has been battlings selling pressure for the last few weeks. This has been in spite of releasing favorable news about being granted an international patent. The Patent’s titled, “Methods of Treating Developmental Syndromes With PDE10A Inhibitors.”
The company is also actively participating in key investors conferences this month including Ladenburg’s Healthcare Conference and Citi’s Biotech Conference. Both of these are set throughout the month with the soonest coming up this week with Citi.
What has the market excited right now is recent action by analysts. OVID stock jumped after RBC initiated coverage. The firm gave Ovid an outperform rating. RBC also gave a price target of $12 for the biotech stock.