Penny Stocks On Robinhood To Watch This Week
When it comes to finding penny stocks to buy, you have options for your broker. With new platforms being released more frequently, there are plenty of things to consider. But when it comes to the best penny stock app or broker, one thing has become evident: fess are becoming a thing of the past. One of the pioneers of a “no-fee” platform was Robinhood. Now we’re seeing major brokers like ETrade, TDAmeritrade, and new ones like WeBull take fees out of the equation in most cases.
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When it comes to penny stocks on Robinhood and other platforms, there are certain criteria that need to be met. One of these criteria is the exchange that penny stocks trade on. For the most part, the no-fee approach applies to stocks listed on the NASDAQ and NYSE exchanges.
OTC penny stocks typically have a different set of rules and fees that go along with them. The higher volatility, lower liquidity, and generally low barrier of reporting requirements make these riskier in the eyes of many brokers.
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Some even restrict access to OTC penny stocks. For Robinhood, penny stocks traded only on major exchanges can be purchased. That also goes for platforms like WeBull. However, now we’re seeing additional exposure to the market via applications like Stash and even Acorns, which take a different approach altogether.
Needless to say, when it comes to trading penny stocks, Robinhood and others mentioned herein have reigned supreme thus far. Millions of users have amassed budding portfolios focused on both penny stocks and blue-chips alike. There are also options for starting up things like IRAs and other long-term strategies.
Robinhood Penny Stocks To Watch: Marathon Patent Group
Marathon Patent Group (MARA Stock Report) doesn’t have the biggest following on Robinhood with less than 3,200 portfolios holding shares. However this month the penny stock saw a strong move higher. On May 1, MARA stock traded around $0.45. This week saw shares reach highs of $0.62 with trading volumes well-above average. But the biggest question is why is MARA stock on the move right now?
There haven’t been any new updates nor filings to speak of. So at that point, it’s time to look into the company to find out if there are potential industry catalysts. Marathon is one of the first Nasdaq-listed Cryptocurrency mining companies. It owns crypto-currency mining machines and a data center to mine digital assets. The company operates in the Digital Currency Blockchain segment and its crypto-currency machines are located in Canada.
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If you take a look at the price of bitcoin and other digital currencies, the market appears to be back on the move. BTC, for instance, has climbed over 20% since April 6th and that could bode well for mining companies. Similar to gold mining stocks, when the price of gold increases, sector stocks tend to respond in kind. With BTC on the move, it could make sense as to why MARA stock has found new momentum in the market this week. Where do you think this trend will end up for MARA?
Robinhood Penny Stocks To Watch: IZEA Worldwide
It’s always fun to see previously discussed companies continue to attract attention. IZEA Worldwide (IZEA Stock Report) has been one of these recently. On Monday we talked about the company’s streaming event to demonstrate the latest capabilities of BrandGraph®, its newly released social intelligence platform. According to the company, BrandGraph provides an analysis of share-of-voice, engagement benchmarking, category spending estimates, influencer identification, and sentiment analysis.
According to the company, the platform recently reached a significant milestone of analyzing and enriching more than 500 million pieces of content. On May 18, IZEA CEO will provide an overview of the BrandGraph platform. He’s also planning to reveal recent trends uncovered by BrandGraph, along with strategic recommendations designed to help marketers navigate the landscape created by COVID-19.
Like many penny stocks that breakout like this, it’s also important to keep your trading strategy in mind. Considering that IZEA stock has climbed 167.5% since Monday’s open, it may be important to watch volume and price action closely. While we all love seeing stocks move higher, reality and history tell us that nothing goes up forever. A general trend may be bullish but ignoring the potential for at least an interim pullback wouldn’t be prudent. Those trading this penny stock on Robinhood have contributed to the number of portfolios holding IZEA nearly doubling since May 3. In any case, it’s been a big week for IZEA stock so far.
Penny Stocks On Robinhood To Watch: Genius Brands
Genius Brands (GNUS Stock Report) has crept up the list of Robinhood penny stocks to watch this quarter. Last time we discussed this company, Genius Brands announced the spring 2021 premiere of its new children’s animated series, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger. It premiered on Amazon Prime (AMZN Stock Report), which joins Alibaba Group (BABA Stock Report) who will launch the series in China on its video streaming platform for kids, Youku.
This week GNUS stock is back in the spotlight once again. This comes amid a series of new updates. First, Genius Brands will see its Ranbow Rangers Torys from Mattel debut in Walmart stores this summer. In addition, the company announced the launch of a new network brand, Kartoon Channel, going live on June 15, 2020. According to Genius, the newly rebranded channel will “significantly expand the distribution”. This already reaches over 100M U.S. television households and over 200M users via OTT and mobile devices as it stands.
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“Through our new strategic partnership with Dooya, the network’s footprint, revenue, and discoverability will dramatically increase. With so many kids now having the learning-at-home experience, children’s programs that can teach about money, about science, about cooking and DIY, all offer something special that will be embraced by parents as well as kids,” said Genius Brands International Chairman & CEO, Andy Heyward.