Penny Stocks Are Hard To Watch If You Work Full Time, But Some Trends Could Open Opportunities
Let’s face it, penny stocks are tough to trade especially if you are working full-time. You might be able to dedicate a few minutes away from your desk to actually buy penny stocks. But when it comes to determining when to sell, it’s pretty difficult. For starters, to know when to sell, you need to be able to watch the market.
You need to look for trends and you need to be able to pay attention to breaking news. For most who work full-time, it’s very hard. Also, as easy as you try to make it, to trade penny stocks, even apps like Robinhood can only do so much.
I bring up Robinhood because it’s a trading platform with a “mobile-first” design. Most other applications like TD Ameritrade’s ThinkOrSwim or Etrade’s E*Trade PRO, were designed for desktop use then adapted to mobile.
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When it comes to penny stocks on Robinhood, you really just need to search a stock symbol and then hit buy (or sell). But as I said, this isn’t the hard part. So if you work full time, how can you possibly find penny stocks to trade?
Penny Stocks On Robinhood To Trade
If you do use Robinhood, penny stocks are restricted to only the listed companies. This means anything trading on the NASDAQ or NYSE will be available to you. But OTC penny stocks are inaccessible. Regardless, you do have plenty of penny stocks to trade. Assuming you can’t pay attention to your phone all day, it’s important to do A LOT of research. Penny stocks are incredibly volatile and can shift direction quickly.
You’re likely more interested in what’s known as swing trading. This is where you trade penny stocks over the course of days or weeks instead of hours or minutes. Again, because of the volatility, penny stocks are very risky and difficult to plot a long term trend. However, that isn’t to say there aren’t opportunities to do so.
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In our articles, we aren’t suggesting stocks to trade but rather giving an overview of some trends. We want to get you thinking about penny stocks being a viable option; not just a lottery ticket. Case in point, this list of penny stocks has companies that have enjoyed a long term uptrend heading into the end of the year. Now the question is, can these go higher?
Robinhood Penny Stocks To Watch: Iveric Bio Inc. (ISEE)
Quite possibly one of the best penny stocks to watch this quarter has been Iveric Bio (ISEE Stock Report). This was one of the top names we caught onto back in October. We’ve also periodically discussed its progress. The interesting part about this penny stock is that if you owned shares of it in October, fell asleep for 2 months and woke up today, that position would have nearly tripled without any effort. Shares of ISEE stock have exploded this quarter.
The initial breakout was triggered after the company reported reaching its primary endpoint for its drug Zimura. The drug met its primary endpoint in a Phase 2b trial. Since then, the company has brought on new team members and even announced a public offering at $4. This last update hasn’t seemed to hurt the stock at the moment as shares have ripped even higher this week.
However, keep this in the back of your mind. Once the financing closes, there will be shares that could come into the market and dilute shareholders. This isn’t to say that those funding the deal aren’t responsible, however, it’s good to know that there are a number of shares with a base of $4.
Robinhood Penny Stocks To Watch: Eros International (EROS)
Even though shares of Eros International (EROS Stock Report) dipped during the first few weeks of the quarter, it’s been a great quarter overall. Since October 1 (day 1 of Q4), shares of EROS stock have climbed by as much as 79%. Again the “fall asleep for months” scenario holds true and the company executed on several fronts. It also remained transparent with the public regarding a few touchy subjects.
If you haven’t followed this stock as closely as we have, some questionable events took place that wasn’t great for the company (At the time). Mainly, the company was in the middle of a lawsuit with Mangrove Partners, Manuel P. Asensio, GeoInvesting, LLC and “other individuals.” The ongoing suit finally came to an end with a default judgment in favor of Eros. What sparked the suit was certain actions take the defendants that harmed Eros and its stock.
Aside from that, Eros has also achieved key industry milestones as well. Most recently the company entered into a deal with YouTube Music in India. Its Eros Now subscription packages now available to new subscribers of YouTube Music and Google Play Music in India. Furthermore, recently filed SEC forms show the accumulation of shares by several big funds. This includes Beech Investments Limited, Eros Chairman, Kishore Lulla, and others. You can see the full 13D filing here.
Robinhood Penny Stocks To Watch: Proteostasis Therapeutics, Inc. (PTI)
Proteostasis Therapeutics, Inc. (PTI Stock Report) has also performed incredibly well this quarter. Volume has crept up while price climbed all the while. The initial move began in November. The company announced the completion of its enrollment in a global Phase 2 study evaluating its cystic fibrosis therapy. It was for efficacy, safety and tolerability of its proprietary combinations PTI-801 and PTI-808 with or without its PTI-428. It further regained NASDAQ compliance earlier this month, which helped give the penny stock an even bigger boost.
However, the company’s latest move is what has sent things into overdrive in my opinion. This week Proteostasis announced its first-ever personalized medicine-based clinical trial, CHOICES, in European cystic fibrosis patients. According to the company, an ongoing study supports the beginning of clinical trials in 2020. What’s more, is that there could be more to look forward to in January.
A pan-European strategic initiative known as HIT-CF (Human Individualized Therapy of CF) seeks to “accelerate the development of, and access to, personalized therapies for CF patients, beginning with those for whom no currently approved cystic fibrosis transmembrane conductance regulator modulator therapy is indicated.
The company explained that results from the HIT-CF project to date will be presented at the Keystone Symposia on Tissue Organoids. This takes place on January 19-23, 2020. In response, Geoffrey Gilmartin, M.D., M.M.Sc., Chief Medical Officer of Proteostasis Therapeutics explained, “This project’s proposed personalized medicine approach is paving a potential new way to develop and provide access to novel CFTR modulators for patients with the most dire need for treatment options that target the cause of the disease.”