This is becoming a popular feature on PennyStocks.com: The 10 most popular “Robinhood penny stocks” to watch.
There are many different trading platforms for penny stocks. But none offer commission-free trading like Robinhood. This basically means that you don’t have to pay for every trade you make which makes trades more profitable. And, as stock traders already know, you can make a lot of money with penny stocks without commission-free trading as it stands now.
It can be advantageous to buy penny stocks on Robinhood if you have a small amount of capital to trade with. Robinhood also puts the hottest stocks right in front of you making it easy if you’re new to trading.
[Read More] These 3 Penny Stocks Are Up Big in September
While hot stocks can make you money, it’s not always a guarantee. And these aren’t top-performing penny stocks either. They are the most popular. Looking to find some of the top penny stocks Robinhood users are watching? Check out, “How To Buy Penny Stocks On Robinhood“. Here are some of the most popular penny stocks on Robinhood going into September 2019:
Robinhood Penny Stock #10: Glu Mobile Inc. (GLUU)
Mobile games creator Glu Mobile (GLUU Stock Report) is known for big games including Kim Kardashian: Hollywood and MLB Tap Sports Baseball. This is one of the technology penny stocks Robinhood traders have been watching. GLUU stock had been rising from September of 2018 but hit a snag in May of 2019. The company’s stock recently hit a 52-week low in late August after dropping nearly $2.50, a 33% tumble. Glu Mobile’s stock hadn’t been considered a penny stock for a whole year until then.
This drop came as a result of the Glu Mobile decreasing its annual bookings guidance. It was projected to be between $445 million to $455 million but was reduced to $406 million to $410 million. Despite this, analyst ratings for the stock have been indicating the penny stock as a “strong buy.” Roth Capital, Cowen & Company, Wedbush Securities, and other analyst firms are covering GLUU. Glu has consistently met or beat earnings reports over the last year, which may be a strong reason for ratings.
Robinhood Penny Stock #9: Denbury Resources Inc. (DNR)
Oil and natural gas provider, Denbury Resources (DNR Stock Report) joins September’s list of popular penny stocks on Robinhood. The company has seen quite the turn of events over the last 2 years. From September of 2017 to October of 2018 DNR stock price was continuously climbing.
However, from then to now, the stock has taken a beating giving back all of those gains. For the last 3 months, the energy penny stock has been a range-bound trade moving between $0.95 and $1.34.
Throughout August, Denbury Resources had one piece of significant penny stock news come out. This was the company’s Q2 results. It showed an increase in oil production, revenues, and net income from Q1. Furthermore, the company revealed in its results that it achieved record production volumes at Bell Creek after its flood expansion.
Robinhood Penny Stock #8: Nokia Corporation (NOK)
Nokia (NOK Stock Report) is a technologies company that is geared towards improving network equipment and software. NOK stock price has been all over the place but is currently heading towards the 52-week low of $4.76. Throughout August and late September, the penny stock has taken a 6% hit after their last dividends.
To add further damage to injury, Nokia hasn’t released any significant news within the last month. The most recent penny stock news came 2 months ago reporting that Taiwan Star Telecom is preparing for 5G migration with Nokia. Could Nokia’s stock bounce back off of this low if it can find some kind of support or strong penny stock news?
Robinhood Penny Stock #7: Groupon Inc. (GRPN)
Groupon (GRPN Stock Report) is a technology company that is shaping the way consumers and businesses interact through an online marketplace. Investors can look at GRPN stock movement in 2 ways. The first way would be the long term, which hasn’t been pretty.
Over the last year the company’s stock price has fallen over 40% and is currently hitting 52-week lows. The second way is in regard to short-term swing trading. The penny stock has had many weeks that have brought strong percentage gains in weekly time frames.
In August, Groupon acquired Presence AI in order to improve the overall booking experience on its platform. This was a significant move for the company because Groupon’s year over year bookable inventory increased by 12%. Penny stock investors will be looking to see if Groupon can further capitalize on that increase in the coming months.
Robinhood Penny Stock #6: NIO Inc. (NIO)
Chinese electric car manufacturer, NIO (NIO Stock Report) also remains on the Robinhood penny stocks list this month. Overall, the last 52 weeks has been brutal for NIO stock. Its stock price has plummeted 60% over this time frame and cannot seem to establish a new low.
This company is in a market that is beginning to garner a lot of attention due to warming temperatures. Although the penny stock has struggled in terms of price action, there seems to be a consistent flow of volume. If the stock is going to trend upward, this volume and increased attention could help.
Robinhood Penny Stock #5: Chesapeake Energy Corporation (CHK)
A mainstay on the monthly list of penny stocks on Robinhood has been Chesapeake Energy (CHK Stock Report). The company is an energy provider that has obtained oil and natural gas assets in the US. While the stock has declined throughout the last year, there have been moments where investors have seen nice returns. This energy penny stock showed 80% growth from January 2019 to April 2019.
Although the stock has been on a decline, it could be looking for a bounce back after its Q2 results. The company’s Q2 results showed increased oil production, growing margins, and progress towards sustainable free cash flow. If the company continues to make strong overall movements like this, it could be one of the penny stocks to watch in September.
Robinhood Penny Stock #4: Plug Power Inc. (PLUG)
Fuel cell company Plug Power (PLUG Stock Report) has had an interesting year so far. The company provides cost-effective power to its customers. Since September of 2018, PLUG stock price is up almost 9% and has been trading sideways since late June. The stock could be consolidating, however, due to moves in the energy sector lately.
During August 2019, the company released its Q2 results. It revealed the results to its first hydrogen fuel cell-powered ground support equipment. And so far in September, Plug Power has expanded its facility in Rochester, NY. With all of these recent developments, Plug Power is definitely attracting attention from investors.
Robinhood Penny Stock #3: HEXO Corp. (HEXO)
Pot penny stock HEXO (HEXO Stock Report) joins the list of penny stocks Robinhood users are holding in portfolios this month. Since HEXO started trading on the New York Stock Exchange, its stock price is down 40%. While this is a significant drop, the entire cannabis sector has been getting beat down all summer. However, HEXO has been a good marijuana penny stock to watch over the last 2 months.
There have been some positives for the company. Last month the marijuana stock added 18 new products to its Ontario Cannabis Store. In addition, Seaport analyst Brett Hundley has come out saying it’s “time to start buying cannabis stocks again.” This could be great news for HEXO, which was hammered by Hundley’s last announcement to dump marijuana stocks.
Robinhood Penny Stock #2: GoPro Inc. (GPRO)
Video camera company GoPro (GPRO Stock Report) has had a topsy-turvy year. GoPro is an interesting company to have landed on this list. So far the penny stock has started September strong increasing almost 4% on the 3rd and 4th.
Since last month’s list of Robinhood penny stocks, GoPro released its Q2 results on August 1st. These showed a 20% increase in revenue guidance. The technology company just doesn’t have a lot of buzz around it. And a lack of news doesn’t help either.
Like last month, it is one of the most popular stocks on Robinhood in September. The company can have really impressive months as it had between January and April of 2019. It can equally have abysmal months as it had in August where it dropped 27%. Only time can tell where GPRO stock price will go.
Robinhood Penny Stock #1: Fitbit Inc. (FIT)
Yet again, Fitbit (FIT Stock Report) is the most popular penny stock on Robinhood right now. It is another technology company that sells watches meant to track your health and keep you fit. Fitbit is another penny stock that has been fantastic for swing trading yet awful for playing long ball. The penny stock dropped by over 50% year over year and experienced a massive gap down at the beginning of August.
As discussed in last month’s list, Fitbit tends to do poorly come earnings time. Its Q2 results from this year kept up with that trend and were the primary reason for the gap down. The stock continues to trend downwards setting new 52-week lows. So why is it the most popular stock on Robinhood? Intra-day trading may be very appealing for penny stocks like Fitbit that can move 2-3% in a day.
