These Robinhood Penny Stocks Can Be Bought For Under $2 But Are They On Your Buy or Sell List Right Now?
When it comes to selling or buying penny stocks you likely need a reason, right? Obviously, the short answer is that if you buy, you think a stock will go up. If you sell you either think a stock will go down and want to protect your capital or think it’s time to take profit. Data is a key tool to have access to.
While some traders and investors will rely on technical indicators on a chart, others will look for things like news and filings. However, there is another group of people who try to “follow the money” so to speak and essentially search out early signs of interest.
Nevertheless, there are platforms that allow access to such data. One of these platforms is Robinhood. Now, this isn’t an article advocating to use Robinhood to buy penny stocks, but I will point out the fact that it offers some info that other brokers don’t.
For instance, when it comes to penny stocks on Robinhood, you can see how many portfolios hold shares. This can range from a few hundred to a few hundred thousand. Believe it or not, the most popular stock on Robinhood is one of the penny stocks we’ve followed on our site for a while now. It was the #1 most popular penny stock on Robinhood for February as well.
In any case, having a handle on the number of investors holding shares can give you a bit of insight into popularity or lack thereof when it comes to certain companies. While the platform doesn’t allow trading of OTC penny stocks, users can still buy NASDAQ or NYSE penny stocks on Robinhood. Given this case, here’s a list of penny stocks that can be bought for under $2 on Robinhood right now. But should they be on your watch list or avoided at all costs?