Are These 3 Names On Your List Of Robinhood Penny Stocks?
Ask any trader who’s been trading penny stocks for over 8 years and you’ll likely hear that “today” is much different than it was “back then”. The landscape for buying and selling small-cap stocks has greatly evolved. Some of this evolution has to do with more industry regulations and even regulatory actions. Other parts of this evolution have to do with allowing more access to the markets.
It’s funny to think that just a few years ago, someone was hesitant to trade penny stocks simply because there were brokerage fees. Not high brokerage fees but just “brokerage fees”. The big names like Etrade, TD Ameritrade, Scottrade (at the time), Fidelity, and others all marketed their technology but not their fee structure.
What About Robinhood For Trading Penny Stocks?
Then came the rise of Robinhood. Penny Stocks and those trading them would then change forever. Where there were once high fees for trading penny stocks, Robinhood cut that out for the most part.
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Though you’re still unable to trade OTC penny stocks on Robinhood, NASDAQ and NYSE listed names are, for the most part, fully accessible. Unfortunately, the press for RH hasn’t been that great this year. There was an “unlimited margin hack” that was exploited.
Then the entire platform was offline for almost a full session leaving many questions unanswered. But even in light of this, its user base continues to increase and now people are using the platform to analyze the popularity of certain penny stocks on Robinhood. This week we’re already seeing big momentum in several names. Are any of these Robinhood penny stocks on your list right now?
Penny Stocks On Robinhood: AgEagle Aerial Systems
AgEage Aerial (UAVS Stock Report) has been one of the penny stocks mentioned sporadically for the last year. When we first came across this company, UAVS stock traded around $0.31. Over the last 12 months, we have watched as this penny stock great in popularity and, at times, in price. Fast forward to this year and UAVS stock has managed to rally to highs of $5.15 but it hasn’t come without controversy.
While the momentum was strong leading up to a corporate conference call, we made mention to take precautions after such a move. We reported on this company leading up to the call but as with many breakout penny stocks, it’s important to not let greed get in the way. In light of this, prior to the conference call we wanted to note that the company also had an active shelf registration in place to raise money. Discounted stock can present dilution risk and see shares drop.
When it comes to investing in penny stocks, no one ever goes broke taking profit. In either case it could have been easy to let greed get the better and think “maybe it’ll go to $X”. As many saw, just as quickly as penny stocks can rise, they can fall. UAVS saw exactly this. But On Monday, the penny stock started to pick up steam once again. Even though there hasn’t been much news from the company, there’s an active audience watching this penny stock. On Robinhood, more than 30,000 accounts hold shares of the company, which is over 3 times the number this time last month. Has UAVS reached a bottom or is this just another head fake? Leave a comment below if UAVS is on your list of penny stocks right now. Read more on UAVS stock.
Penny Stocks On Robinhood: Waitr Holdings
It’s interesting to see where Waitr Holdings (WTRH Stock Report) started out and what it has become, today. If you’ve been a reader for a while, you probably read our article, “4 Penny Stocks To Watch This Week; 2 Up Big This Month” from back in November of 2019. This is when we actually took a closer look at the company, what could be driving momentum and if there were any “worthwhile” things to watch.
At the time there were more questions than answers as WTRH stock seemed to be a simple “1 and done” momentum stock. Nevertheless, we continued to monitor the company who at the time had just inked a deal with Rally’s / Checkers and reported lackluster earnings. That helped the stock reach those fresh 52-week lows.
Moving forward through the months to follow, it would appear that leadership is taking things more serious. Even Carl Grimstad, Chairman and CEO of Waitr, said that “distractions resulted in a lack of focus on our customers and operations.” That seems to have changed this year with WTRH stock trading much higher and now reporting two strong quarters of favorable earnings results.
I believe that the coronavirus may have actually helped Waitr in that the need for food delivery took center stage in areas of extreme quarantine. In fact, now the analyst community has started to take notice. Last week, analysts at Benchmark lifted their price target to $4 from $3 and maintained a Buy rating on the stock. You can also see that firms like BlackRock, Inc. hold positions in the company. Just look at the recently filed 13G from May 8. Do you think WTRH stock is set for new highs before June? Over 16,000 accounts currently hold shares of it on Robinhood. Read more on WTRH stock.
Penny Stocks On Robinhood: Westport Fuel Systems
You can’t have a complete list of penny stocks on Robinhood without looking at the energy sector right now. Westport Fuel Systems (WPRT Stock Report) only has around 3,600 accounts holding shares on Robinhood. But over the last 2 sessions, you could say that there’s much more attention on the company right now.
After having one of its highest share volume days in recent history on April 29th, WPRT stock began turning some heads. Though shares have consolidated, energy penny stocks haven’t become unpopular by any stretch of the imagination. This week, we have started to see another wave of activity hit the market.
Westport Fuel Systems is a provider of high-performance, low-emission engine and fuel system technologies utilizing gaseous fuels. The company has three reportable segments: Transportation, the Cummins Westport Inc Joint Venture, and Corporate. According to the company, geographically, it derives maximum revenue from Europe and also has a presence in the Americas, Asia, and other countries. The company brands include Cummins Westport, BRC Gas Equipment, Westport, OMVL, Prins, GFi Control Systems, Emer, Zavoli, TA Gas Technology, AFS, and Valtek. With the latest news from Saudi Arabia sparking oil prices, is there more runway for WPRT stock to run? Read more on WPRT stock.