top 5 penny stocks on robinhood

Investors often wonder if it is possible to make money with penny stocks. People who start out with small capital think about investing in these stocks. Although there are risks involved, the profits can sometimes be enormous. This is why we sometimes see many younger investors turning to penny stocks.

But it’s also why these cheap stocks can get at a bad reputation. Inexperienced traders treat them more like lottery tickets than investments. Without a sound knowledge of how to invest in stocks, in general, you’re already set up for failure. So, no matter the price, it’s important to understand the basics.

Similarly, apps like Robinhood have given more access to new investors. When it comes to penny stocks on Robinhood, for example, there are a number of ways to purchase these stocks. Also, there are a few different options for learning about how to trade penny stocks.

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In January, many of these low-priced stocks managed to record significant gains. Therefore, investors could take a look at some of these stocks before investing. Here is a look at five of those penny stocks that performed impressively this month.

Penny Stocks On Robinhood #1 Milestone Scientific

One of the penny stocks that managed to gain significantly in January is that of Milestone Scientific Inc (MLSS Stock Report). It has managed to rally by as much as 25% over the course of the month so far. Back on January 21, it emerged that the company has been awarded a Notice of Allowance from the United States Patent and Trademark Office for one of its new products.

The product in question is a cosmetic injection system. It is not surprising that the development has been welcomed by the market. The stock continued to rise this week. On Wednesday, MLSS stock hit its 52-week high of $1.80. However, as far as popularity as a Robinhood penny stock goes, MLSS is relatively quiet. Under 800 portfolios hold shares of Milestone in the app.


Penny Stocks On Robinhood #2 Orion Energy Systems

Another penny stock that has performed notably in January is Orion Energy Systems Inc (OESX Stock Report). The rally in the stock came about after the company made a major announcement on Wednesday. Yesterday, Orion announced that one of its key projects related to the Internet of Things and LED lighting had been expanded.

During this phase, the expansion will bring $18 million to $20 million in additional revenue for Orion. The company also raised its projections for the year in light of the developments. Revenue expectation now stands in the $150 million to $155 million range, up from the earlier range of $135 million to $145 million.

OESX stock rallied by 9.50%. Moreover, the stock is up over 40% so far this month. With a little over 1,100 portfolios holding shares, it’s still relatively unknown compared to other penny stocks on Robinhood.

robinhood penny stocks Orion Energy Systems (OESX)

Penny Stocks On Robinhood #3 Leap Therapeutics

Leap Therapeutics (LPTX Stock Report) has also been among the best-performing penny stocks this month, with a gain of over 80%. The trigger for the sustained rally in the stock came earlier on in January. Leap announced that it had signed a collaborative deal with BeiGene Limited, a Chinese pharmaceutical company. The deal has resulted in much-needed cash injection into the biotech company.

[Read More] Are Penny Stocks Worth It? 5 Names To Track Right Now

BieGene is going to take up the right to sell Leap’s gastroesophageal products in Australia, New Zealand, China, and other nations on the Asian continent. Leap is going to be paid $3 million straightaway and could earn up to $129 million if certain targets are met. BieGene also picked up an equity stake for $5 million.

Recently, LPTX stock gained another 7%. But what’s more, is that the stock is up 220% since November. With only 121 portfolios holding shares of this penny stock on Robinhood, it’s interesting to see that it has managed to move up the way it has on lighter volume.

penny stocks on robinhood Leap Therapeutics (LPTX)

Penny Stocks On Robinhood #4 Nymox Pharmaceutical

Investors could also consider tracking the Nymox Pharmaceutical Corporation (NYMX Stock Report). It has gained in excess of 40% this month so far. In early January, the company announced that a peer-reviewed research report in relation to its Fexapotide Triflutate had been published. It’s a treatment for prostate enlargement and mild prostate cancer.

The company also reported a few key milestones as well. Nymox received the necessary information to format its upcoming regulatory filings for its treatment. It’s moving forward with the safety data from its 4 Phase 1 and Phase 2 BPH clinical trials.

In addition, Nymox is proceeding with its integration of safety data from the Prostate Cancer Study NX03-0040 into its final datasheet. This will be part of a New Drug Application submission from the company. In fact, the company seeks approval in the US and Europe during the first half of 2020.

penny stocks on robinhood Nymox Pharmaceutical (NYMX)

Penny Stocks On Robinhood #5 One Group Hospitality

Finally, on the list of the penny stocks on Robinhood, One Group Hospitality (STKS Stock Report) may deserve attention. Earlier this month, the company released the preliminary results for the fourth quarter of 2019 and also or the full year.

One Group revenues are expected to be around $52 million, while the revenues for the year have been pegged at around $120.5 million. The update proved to be a positive trigger for STKS stock. But this wasn’t just a catalyst for a few days of momentum. One Group stock has been in rally mode since early October.

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During that period, shares have climbed from around $2.40 to highs this week of $4.39. Despite this, only 200 or so portfolios hold this as one of their penny stocks on Robinhood. Will that change following these latest developments?

robinhood penny stocks One Group Hospitality (STKS)

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